DELRAY
BEACH, Fla., Sept. 17,
2024 /PRNewswire/ -- The global Network Security
Market size is projected to grow from USD 78.2 billion in 2024 to USD 111.0 billion by 2029 at a Compound Annual
Growth Rate (CAGR) of 7.2% during the forecast period, according to
new research report by MarketsandMarkets™. Sophisticated cyber
threats have been a major driver of the traction of network
security solution adoption and the emergence of the new wave of
threats such as ransomware and APTs. Prior to committing complex
new attacks, the attackers target critical infrastructure,
financial systems, and private data. So, organizations are heavily
investing in network security solutions that track and block any
incoming threats to preserve their assets and the company's
operations in a combat environment.
Browse in-depth TOC on "Network
Security Market"
574 - Tables
66 - Figures
455 - Pages
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Scope of the Report
Report Metrics
|
Details
|
Market size available
for years
|
2018–2022
|
Base year
considered
|
2023
|
Forecast
period
|
2024–2029
|
Forecast
units
|
Value (USD Million/USD
Billion)
|
Segments
covered
|
Solution, Service,
Network Environment, Deployment Mode, Organization Size, Vertical,
and Region
|
Geographies
covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, and Latin
America
|
Companies
covered
|
Major vendors in the
global network security market include Cisco (US), Palo Alto
Networks (US), Fortinet (US), Check Point (US), Trend Micro
(Japan), Verizon (US), IBM (US), Broadcom (US), Juniper Networks
(US), Akamai (US), Netskope (US), Microsoft (US), CrowdStrike
(US), Zscaler (US), Cloudflare (US), AWS (US), OpenText (Canada),
Hillstone Networks (US), Barracuda Networks (US), Huawei (China),
Trellix (US), SonicWALL (US), Forcepoint (US), Sophos (UK), Zyxel
Networks (Taiwan), Cato Networks (Israel), NordLayer (US), Versa
Networks (US), WiJungle (India), Cynet (US), SECNAP Network
Security (US), Nomios (Netherlands), Easi (Belgium), and GajShield
(India).
|
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Based on the solution, the VPN accounts for the highest
market size during the forecast period.
A VPN solution is a significant part of modern network security.
It functions by establishing a secure, encrypted connection between
a user's device and a network, typically over the Internet. This
encryption ensures that any data transmitted over the VPN is
protected from interception by malicious actors, safeguarding
sensitive information such as login credentials, financial details,
and confidential communications. VPNs are particularly valuable in
protecting remote access to corporate networks. Presently where
remote work is increasingly common, employees often need to connect
to their company's internal resources from various locations,
including potentially insecure environments like public Wi-Fi
networks. Key vendors offering VPN solutions include Fortinet,
Cisco, NordLayer, Check Point, and Zscaler.
By deployment mode, on-premise accounts for the
highest market size during the forecast
period.
The on-premise deployment mode is estimated to hold the largest
market share in the network security market. On-premises deployment
mode for network security solutions involves installing and
managing security hardware and software directly within an
organization's physical infrastructure. This way, organizations
have full control over the security systems, including firewalls,
IDS, DLP, and other tools. Commonly, on-premises deployment is
chosen by organizations that have strict regulatory requirements,
sensitive data, or demand for customized security configurations.
It allows for direct management of data and security protocols,
ensuring that all operations occur within the organization's own
data centers.
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By region, Asia Pacific will
grow at the highest CAGR during the forecast period.
The Asia Pacific region
comprises countries such as China, India, Singapore, and Japan, which are leading in the network
security market. Asia Pacific
region is expected to register high growth rates in the network
security market. China is one of the leading countries in this
market, with extensive adoption of network security technology in
various sectors, including BFSI, government, and healthcare. Other
countries in the region, such as Japan, are also witnessing growth in the
network security market. Various factors, such as internal and
external regulations and the growing focus of various industries to
get a unified view of risk, are expected to contribute to market
growth. Factors such as increasing internet usage, regulations,
compliances, and increasing digitalization are the major factors
fueling the adoption of network security solutions.
Top Key Companies in Network
Security Market:
Cisco (US), Palo Alto Networks (US), Fortinet (US), Check Point
(US), Trend Micro (Japan), Verizon
(US), IBM (US), Broadcom (US), Juniper Networks (US), Akamai
(US), Netskope (US), Microsoft (US), CrowdStrike (US),
Zscaler (US), Cloudflare (US), AWS
(US), OpenText (Canada),
Hillstone Networks (US), Barracuda Networks (US), Huawei (China), Trellix (US), SonicWALL (US),
Forcepoint (US), Sophos (UK), Zyxel Networks (Taiwan), Cato Networks (Israel), NordLayer (US), Versa Networks (US),
WiJungle (India), Cynet (US),
SECNAP Network Security (US), Nomios (Netherlands), Easi (Belgium), GajShield (India) are the key players and other players
in the network security market.
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Security Companies and Network
Security Industry
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