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Network Security Software Market Report, Trends, Share, Size, Growth, Opportunities And Outlook 2024-2033
Network Security Software Market
The Business Research Company presents an extensive market research report on the Network Security Software Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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.
The network security software market size is expected to see rapid growth in the next few years. It will grow to $43.94 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to increased focus on cloud security, regulatory changes and cybersecurity standards, expanded remote work scenarios, growing sophistication of cyber threats, focus on user and entity behavior analytics (UEBA). Major trends in the forecast period include zero trust architecture, AI-powered threat detection, cloud-based security solutions, identity and access management (IAM) integration, IoT security measures, behavioral analytics.
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Key Market 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
Market Drivers:
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.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/network-security-software-global-market-report
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
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