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The network security software market is estimated to grow by USD 17.51 billion at a CAGR of 11.14% between 2022 and 2027. The rising frequency and sophistication of cyberattacks are increasing the demand for cybersecurity solutions to protect against threats such as malware, ransomware, and phishing attacks. Stringent data protection regulations, such as GDPR and CCPA, are also driving the adoption of cybersecurity solutions to ensure compliance and protect sensitive data. Additionally, the growing adoption of cloud computing is expanding the attack surface for cybercriminals, leading to increased demand for these solutions to secure cloud-based applications and data. Overall, these factors are driving strong growth in the cybersecurity market as organizations prioritize protecting their digital assets and data.
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This market report extensively covers market segmentation by component (solution and service), deployment (cloud and on-premises), and geography (North America, APAC, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market share growth by the solution segment will be significant during the forecast period. The demand for comprehensive and cutting-edge security solutions has increased due to businesses wanting to resist the increasing number of cyber threats. For preventing data loss, comprehensive and cutting-edge security solutions include firewalls, intrusion detection and prevention systems, VPNs, anti-virus software, and tools.
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The solution segment showed a gradual increase in the market share of USD 10.35 billion in 2017. By offering multi-layered protection, threat intelligence, and real-time monitoring capabilities, comprehensive and cutting-edge solutions respond to the unique requirements of enterprises across various sectors. As a result, the demand is significantly rising with the adoption of technologies such as high demand for cloud computing, and the IoT. These technologies play an important role in protecting digital assets and guaranteeing network integrity. Due to these factors, the preference for these software solutions is expected to rise during the forecast period.
Cloud-based deployment segment offers benefits such as scalability, flexibility, and affordability. companies are expected to use and monitor these solutions without making high infrastructure investments. The need for cloud-based deployment modes is increasing due to the growing adoption of cloud computing and shifting focus on these systems through remote access. This segment is expected to continue rising as businesses prioritize cloud-based solutions for improved and streamlined operations. Market players like Cisco, Palo Alto, and Fortinet offer cloud-based solutions. Which is expected to fuel the market growth for cloud-based deployment modes during the forecast period.
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North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The North American market is expanding significantly, and this trend is expected to grow during the forecast period. The demand for reliable solutions is boosted due to the frequency and level of sophistication of cyber threats and the increasing shift towards digital transformation across numerous businesses and industries prioritizing the safeguarding of their sensitive data and vital infrastructure. As a result, there is a rising demand for this software in the region, due to which the regional market in focus is expected to rise during the forecast period.
The market is experiencing significant growth, driven by the increasing need for robust solutions to protect against evolving cyber threats. With the rise in these breaches and malicious activities, organizations are focusing on implementing comprehensive network security solutions. Compliance policies are driving the adoption of these regulatory compliance tools, especially in industries like healthcare, government, IT & telecommunication, and manufacturing. The shift towards remote working and hybrid work culture has also increased the demand for secure web applications, industrial software, and data accessed through personal devices. Companies like Fortinet are offering secure SD-WAN solutions, while managed service providers like STC and Globe Business are providing these advanced services. The market is witnessing innovations in technologies like IDS/IPS, firewalls, antivirus software, and VPNs to enhance these functionalities and protect against threats like DDoS attacks and wireless vulnerabilities.
The Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria, and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is driven by the need to protect against unsecured devices and comply with privacy laws. Technologies such as authorization and authentication are crucial for Bring Your Own Device (BYOD) environments and Internet of Things (IoT) devices, reducing the risk of data theft and cybercrimes. Solutions include network access control and intrusion detection/prevention systems, ensuring secure data sharing and real-time threat mitigation. Customer support and training are essential for maintaining network performance and secure infrastructures.
The market caters to diverse industries like BFSI (Banking, Financial Services, and Insurance), offering solutions for Bring Your Own Devices (BYOD) policies and ensuring data loss prevention. These solutions include Unified Threat Defense systems and high-performance capabilities, addressing real-time threats and providing web-based application security. Identity and access management tools are crucial for securing network access, while Intrusion Detection Systems (IDS) and Intrusion Prevention Systems (IPS) help monitor and prevent network incidents. Consultation services and maintenance support the deployment of advanced network security solutions and ensure compliance with security policies.
Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.14% |
Market growth 2023-2027 |
USD 17.51 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
10.33 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 33% |
Key countries |
US, China, Japan, UK, and France |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AO Kaspersky Lab, AT and T Inc., Avast Software sro, Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., FireMon LLC, Fortinet Inc., GFI USA Inc., International Business Machines Corp., Juniper Networks Inc., McAfee LLC, Musarubra US LLC, Open Text Corp., Palo Alto Networks Inc., Qualys Inc., SOFTWIN SRL, SolarWinds Corp., Trend Micro Inc., and WatchGuard Technologies Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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