Network Security Market Demand Key Growth Opportunities. Development and Forecasts to 2017-2032

Network Security Market size was valued at $18,480 million in 2019, and is projected to reach $63,398 million by 2027, registering a CAGR of 16.7% from 2020 to 2027.
The word "network security" is broad and encompasses a variety of technologies, tools, and procedures. Using both software and hardware technologies, it can be defined as a collection of guidelines and configurations intended to safeguard the reliability, accessibility, and integrity of computer networks and data. Every organisation needs some kind of network security solutions in place to protect it from the ever-expanding landscape of cyber threats that exist in the wild today, regardless of size, industry, or infrastructure. Because of the vulnerability of remote workers and the increased interest in coronavirus among the general public, cybercriminals are using the epidemic as an excuse to engage in more unethical conduct. Due to these concerns, businesses are stepping up their security budgets and upgrading their network security architecture.

Market Dynamics:
Growth to be Fueled by Increased Cyberattacks and Security Breaches: Since there have been more cyberattacks and security breaches, most small and large firms have had to secure their networks. As a result, the network security industry is anticipated to grow. Between 2005 and 2021, there were 11,762 severe security breaches, according to the Identity Theft Resource Center. Additionally, it is anticipated that the pandemic would raise acceptability of work-from-home arrangements and the quickly expanding trend of businesses adopting Bring Your Own Device (BYOD) rules, which will boost demand for network security solutions internationally.
The market will be driven by growing cyber threats: The bulk of businesses and enterprises have turned their attention to digitalization in recent years. The adoption of other emerging technologies such as the cloud, SD-WAN, IoT, and others is part of the digital transformation, which is resulting in the emergence of new attack vectors that are frequently unanticipated. Network security is crucial for your company's profitability and security when it is connected to the Internet, a LAN, or other systems.

Businesses with strong network security systems are less likely to misplace sensitive data and information. By investing in network security, organisations can assess their level of cyber resilience based on critical business assets, the threat environment, and the maturity of their cyber capabilities. Rising cyber dangers are therefore propelling the network security market ahead.

Low security budget: Because many small and micro businesses do not budget for network security, they are unable to cover the installation costs, which is limiting the market's growth.

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Global Network Security Market: Major Players
Fortinet
Symantec
WatchGuard
EMC Corporation
IBM
McAfee
Zscaler
FireEye
Hewlett-Packard
Check Point Software Technologies
Barracuda Networks
Cisco Systems
Palo Alto Networks

Global Network Security Market: By Types
Data encryption
Malware Protection
URL and content filtering
Advance Threat Detection and Vulnerability management
Web Application Management
Firewall Security

Global Network Security Market: By Applications
Manufacturing
Retail
Aerospace and Defense
Healthcare
Telecommunication and IT
Government and Utilities
banking financial services and insurance

Global Network Security Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Network Security market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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