Overview and Scope
Network security software is a software program designed to protect a network from unauthorized access, use, disclosure, disruption, modification, or destruction. It is used in safeguarding sensitive data, devices, and applications within a network.
Sizing and Forecast
The network security software market size has grown rapidly in recent years. It will grow from $24.21 billion in 2023 to $27.33 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to increasing cyber threats, compliance and data privacy concerns, rise in remote work practices, digital transformation initiatives, high-profile data breaches, need for continuous monitoring.
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Segmentation & Regional Insights
The network security software market covered in this report is segmented –
1) By Type: Firewalls, Antivirus And Anti-Malware Software, Virtual Private Network(VPN), Wireless Security, Other Types
2) By Deployment: On-Premises, Cloud
3) By Organization Size: Small Enterprises, Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Vertical: Aerospace And Defense, Government, Banking, Financial Services, And Insurance (BFSI), Information Technology (IT) And Telecommunication, Healthcare, Retail, Manufacturing, Energy And Utilities, Other Verticals
North America was the largest region in the network security software market in 2023. The regions covered in the network security software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing number of cyber attacks is expected to propel the growth of the network security software market going forward. Cyber attacks refer to potential dangers and risks to information systems, networks, and computer infrastructure. Network security software is used in cybersecurity by acting as a barrier between the internal network and the external world, only allowing authorized traffic to pass through. For instance, in November 2022, according to the Australian Cyber Security Centre, an Australia-based government agency, the number of cybercrime reports received in 2021-2022 was 76,000, an increase of nearly 13% from the 2020-2021 financial year. Therefore, the increasing number of cyber attacks is driving the network security software market.
Key Industry Players
Major companies operating in the network security software market report are AT and T Inc., International Business Machines Corporation, Cisco Systems Inc., Broadcom Inc., Palo Alto Networks Inc., Juniper Networks Inc., Open Text Corp., Fortinet Inc., Check Point Software Technologies Ltd., Trend Micro Inc., Kaspersky Lab, SolarWinds Corporation, FireEye Inc., Qualys Inc., SonicWall, Avast PLC, McAfee LLC, AO Kaspersky Lab, FireMon LLC., GFI USA Inc., SOFTWIN SRL, Enterprise Security, Symantec Corporation, WatchGuard Technologies Inc., Musarubra US LLC
The network security software market report table of contents includes:
1. Executive Summary
2. Network Security Software Market Characteristics
3. Network Security Software Market Trends And Strategies
4. Network Security Software Market – Macro Economic Scenario
5. Global Network Security Software Market Size and Growth
..
32. Global Network Security Software Market Competitive Benchmarking
33. Global Network Security Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Network Security Software Market
35.Network Security Software Market Future Outlook and Potential Analysis
36. Appendix
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