Network Security Market was valued at US$ 31.10 Bn. in 2022 and is expected to reach US$ 68.75 Bn. by 2029, at a CAGR of 12% during a forecast period
Network Security Market Overview:
The purpose of this research is to offer an overview of the Network Security industry as well as thorough market segmentation by segments and geographies. The study includes vital information on the market positions of the top Network Security organizations, as well as major industry trends and possibilities.
The analysis also includes information on the top industry players in the Global Network Security market, such as company biographies, product pictures and specifications, capacity, production, price, cost, revenue, and contact information. This study investigates market trends, volume, and value at the global, regional, and corporate levels. This research looks at the whole Network Security Market Size from a global perspective, analyzing historical data and creating estimates.
Market Scope:
Following the completion of market engineering, which comprised market statistics computations, market size estimations, market forecasts, market breakdown, and data triangulation, thorough primary research was done to obtain information and verify and validate important numbers. To acquire market assessment and forecasts for the overall market segments and sub-segments presented in the Network Security market study, both top-down and bottom-up methodologies, as well as many data triangulation methods, were frequently employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all facts obtained over the whole market engineering process in order to provide essential information throughout the report.
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research’s market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights applied to each section based on usage rate and average sale price are used to determine percentage splits, market shares, and segment breakdowns. The percentage adoption or usage of the provided market Size in the relevant area or nation is used to determine the country-wise splits of the overall market and its sub-segments.
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Segmentation:
By Organization size
In 2022, the large enterprise segment had the highest percentage share. An effort to gain unauthorised access to a company’s network in order to steal data or carry out other damaging actions is known as a network attack. The majority of organisations are finding it difficult to keep up with the rising amount of dangers that might infect their email, as over 350,000 new viruses were created in 2021. Cybercriminals use ransomware, malware, and phishing to steal sensitive data or information. Hackers that want to profit from private data also target SME’s. SMEs experience considerable financial losses as a result.
By End-user
In 2022, the BFSI sector had the highest market share of . Most aspects of the banking and financial sectors, including their back-end operations, have gone digital. Criminals are aggressively looking for targets for malicious cyberattacks, phishing, malware, and bots in banking and financial institutions’ key and sensitive data as a result of technological advancements. The banking sector is the most targeted, with around 22% of cyber security attacks in India in 2021–2022, according to a survey by Deloitte India. The majority of online and mobile banking platforms are popular targets for scammers.
1. Network Security Market, by Type (2022-2029)
• Firewalls
• Antivirus/Anti malware software
• VPN
• Data loss prevention
• Wireless security
• Intrusion prevention systems
• Vulnerability scanning
• Others
2. Network Security Market, by Organization Size (2022-2029)
• SMEs
• Large enterprises
3. Network Security Market, by Deployment (2022-2029)
• Cloud
• On-premise
4. Network Security Market, by End-user (2022-2029)
• BFSI
• IT & Telecom
• Retail
• Transportation & Logistics
• Government & Defense
• Manufacturing
• Energy & Utilities
• Healthcare
• Others
Key Players:
Acquisitions, partnerships, and collaborations were among the inorganic growth strategies mentioned in the industry. Industry participants in the Network Security market are expected to profit from strong future growth possibilities due to rising demand. The following are a few firms involved in the global Network Security industry.
1. Cisco
2. SolarWinds
3. IBM
4. Trend Micro
5. FireMon
6. Symantec
7. FireEye
8. GFI Software
9. Avast Software
10. WatchGuard
11. Bitdefender
12. Webroot
13. AT&T
14. Qualys
15. Juniper Networks
16. Hewlett Packard Enterprise Co.
17. Honeywell International Inc.
18. NortonLifeLock Inc.
19. Siemens
20. CyberGuard
21. NetScreen
22. Lucent
23. McAfee
24. Forttinet Inc.
25. Kaspersky
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Regional Analysis:
The research also includes a comprehensive PESTLE analysis for each of the five areas, namely North America, Europe, Asia Pacific, the Middle East, Africa, and South America, after examining the political, economic, social, and technological variables influencing the Network Security market in these regions.
COVID-19 Impact Analysis on Network Security Market:
As a result of the COVID-19 outbreak, customer behavior has transformed throughout all sectors of society. Industries, on the other hand, will need to adjust their strategies to account for altering market supplies. This study gives an outline of the COVID-19’s impact on the Network Security market and will help you build your business in compliance with the new industry standards.
Key Questions Answered in the Network Security Market Report are:
- What will be the Network Security market’s CAGR throughout the projected period?
- Which market category emerged as the market leader in the Network Security industry?
- Who are the key players in the Network Security market?
- How big will the Network Security market be in 2027?
- Which firm had the biggest market share in the Network Security industry?
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