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Exponential Growth and Innovation Drive Network Access Control Market to $12.6 Billion by 2028

04-21-2024 08:17 PM CET | Media & Telecommunications

Press release from: The Business Research Company

Network Access Control Market Report

Network Access Control Market Report

The network access control market size has grown exponentially in recent years. It will grow from $3.49 billion in 2023 to $4.52 billion in 2024 at a compound annual growth rate (CAGR) of 29.5%. The growth in the historic period can be attributed to rising cybersecurity threats, regulatory compliance requirements, bring your own device (byod) trends, protection against insider threats, increasing connectivity and network complexity.

The network access control market size is expected to see exponential growth in the next few years. It will grow to $12.6 billion in 2028 at a compound annual growth rate (CAGR) of 29.2%. The growth in the forecast period can be attributed to remote workforce management, integration with zero trust architecture, advanced threat detection, focus on cloud security. Major trends in the forecast period include integration with identity and access management (iam), application of network segmentation strategies, use of behavioral analytics in nac, collaboration with threat intelligence platforms, growing importance of remote nac for telecommuting.

Market Overview -
Network Access Control (NAC) is a computer networking solution that establishes security policies for devices accessing a network. It ensures that only compliant and authorized devices can connect and defines what they can do on the web. NAC allows network operators to enforce these policies across network devices.

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Privacy And Security Concerns Fuel Growth In Network Access Control Market
The growth in privacy and security concerns is expected to propel the growth of the network access control market going forward. Privacy and security concerns include both the protection of sensitive information and the protection of data and systems from unwanted access, exploitation, or breaches. Network access control provides a complete framework for enforcing regulations, authenticating people and devices, and monitoring network activity to prevent unwanted access and possible violations. For Instance, in May 2022, according to a report published by HISCOX, a Bermuda-based insurance company, the average cyber security spending per company is up 60% in 2021 to $5.3 million. Further, the overall frequency of cyber-attacks grew by 12% yearly, with 48% of organizations reporting a cyber assault in the past 12 months, up from 43% in 2021. Therefore, the growth in privacy and security concerns will drive the network access control market.

Competitive Landscape -
Major companies operating in the network access control market report are Cisco Systems Inc., SAP SE, Hewlett Packard Enterprises Co., Vmware Inc., CommScope Inc., Juniper Networks Inc., Fortinet Inc., Venustech Group Inc., Avaya Inc., Belden Inc., Check Point Software Technologies Ltd., Extreme Networks Inc., Solarwinds Inc., Ivanti Software Inc., Advent International LP, Trustwave Holdings Inc., OPSWAT Inc., Sophos Inc., Genians Inc., Beta Systems Software AG, Portnox, Nevis Networks Inc., InfoExpress Inc., IS Decisions, CyberCyte Ltd., Nellsoft GmbH

Innovative Cloud-Based Network Access Control Solutions Transform The Market
Major companies operating in the network access control market are focusing on innovating advanced solutions such as cloud-based network access control (NAC) to provide reliable customer services and strengthen their market position. Cloud-based network access control (NAC) is a type of NAC that is hosted and managed in the cloud to enforce network access control policies. For instance, in May 2023, Juniper Networks Inc., a US-based provider of network security products and software-defined networking technology, launched Juniper Mist Access Assurance, a cloud-based network access control (NAC) service that allows businesses to easily impose secure network authorization and authentication without the complications related to on-premises NAC. Access Assurance was created to provide users with a safe and dependable network connection experience. We continually assess the end-user experience by combining NAC with network connectivity visibility and identifying errors caused by client settings, network services, or NAC policies. Network administrators may now regulate access and provide a better user experience to a shared cloud and AI engine almost effortlessly.

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https://www.thebusinessresearchcompany.com/report/network-access-control-global-market-report

Key Segments -
The network access control market covered in this report is segmented -
1) By Component: Network Access Control Appliances, Network Access Control Software, Service
2) By Deployment Model: On-Premises, Cloud-Based
3) By Enterprise Size: Small And Mid-Sized Enterprises (SMEs), Large Enterprises
4) By Industry: Information Technology (IT) And Telecom, Banking Finance And Insurance (BFSI), Healthcare, Retail, Manufacturing, Government, Education, Other Industries

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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