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.
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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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