Expansion of e-retail sector and need for data protection is expected to drive the demand for global network security market in the forecast period.
According to TechSci Research report, “Global Network Security Market By Type (Firewalls, Antivirus & Antimalware Software, Intrusion Prevention System, VPN, Wireless Security, Others) By Enterprise Size (SMEs v/s Large Enterprises) By Deployment (Cloud v/s On Premise) By Industry (BFSI, IT & Telecom, Retail, Healthcare, Government, Manufacturing, Others) By Company, By Region, Forecast & Opportunities, 2026”, global network security market is expected to witness significant growth for the next five years owing to the rising connected world which continuously requires data security and services from remote locations. Companies are launching multiple hosting services to accommodate large workplace which is expected to increase the risk of data security. Network security is essential to monitor the network and host at every connection level. Protected network reduces the risk of data theft and cyber-attacks. Organizations are encouraging employees to bring their own devices which is aiding in reduction of the operational costs of the organization. Hackers can access any of the employee’s device to get the confidential data of organization thereby creating the need for implement network security at workplaces.
However, low budget allocation by organizations for network security may create hindrance in the global network security market growth.
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Global network security market is segmented into type, enterprise size, deployment, industry, region, and company. Based on type, the market is further divided into firewalls, antivirus & antimalware software, intrusion prevention system, VPN, wireless security, and others. Firewall segment is expected to dominate the market during the forecast period, 2022-2026. Firewall aids in monitoring and controlling the flow of files consisting of both incoming and outgoing to authentic source, IP address and ports and protocols. It acts as a barrier and prevents unauthorized access to data and provides security to the system. Advancements in network security software is boosting the need for global network security market.
Adoption of data loss prevention software to prevent unauthorized sharing or downloading of files over internet is increasing as majority of organizations are connected via internet services for data transmission and communication purpose. Based on enterprise size, the market is bifurcated into SMEs and large enterprises. Large enterprises segment is expected to hold major market share during the forecast period. Organization policies such as bringing own device is fostering the high demand for market of network security. Large enterprises are allocating more budget for ensuring the security of their networks. Rising awareness regarding the threats of cyber-attacks and security is creating lucrative opportunities for the network security market growth. Based on deployment, the market is divided into cloud and on premise technology.
Cloud segment is expected to dominate the market for the next five years due to the adoption of latest technologies such as artificial intelligence, machine learning and others which requires integration of cloud technology. Cloud technology aids in real time configuration and provides large storage spaces and is scalable and reliable in nature. Based on industry, the market is categorized into BFSI, IT & telecom, retail, healthcare, government, manufacturing, and others. BFSI segment is anticipated to play a significant role during the forecast period due to the presence of secure and confidential data and personal information of its shareholders. Increasing demand for net-banking and online banking solutions to provide convenience to consumers is increasing the incidences of data threats and cyber-attacks. To safeguard the information, BFSI segment is investing to avail network security services across the globe.
Cisco Systems, Inc., Check Point Software Technologies Ltd., FireEye Inc., Juniper Networks, Inc., McAfee, LLC, Palo Alto Networks, Inc., Watchguard Technologies, Inc., Fortinet, Inc., AT&T, Inc., Siemens AG are the leading players operating in the global network security market. Manufacturers are increasingly focusing on research and development processes to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several network security manufacturers are coming up with their technologically advanced offerings.
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“Roll-out of 5G technology is expected to improve the network services with helping devices to operate at high speed, proper bandwidth utilization and making them more reliable in nature. Adoption of emerging technologies such as artificial intelligence, machine learning, and industrial IoT is expected to boost the network security market. Integration of technologies with 5G technology is anticipated to bring more threats to networks around the globe. Confidential data of industries and consumers is present across various layers of network infrastructure which is expected to propel the market growth until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Network Security Market By Type (Firewalls, Antivirus & Antimalware Software, Intrusion Prevention System, VPN, Wireless Security, Others) By Enterprise Size (SMEs v/s Large Enterprises) By Deployment (Cloud v/s On Premise) By Industry (BFSI, IT & Telecom, Retail, Healthcare, Government, Manufacturing, Others) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of global network security market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global network security market.
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