Network Security Policy Management (NPSM) Software Market Outlook 2024 : Expected Market Growth Rate, Major Driver And Segments

"The Business Research Company recently released a comprehensive report on the Global Network Security Policy Management (NPSM) Software Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The network security policy management (npsm) software market size has grown rapidly in recent years. It will grow from $1.45 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to increasing cyber threats, stringent regulatory compliance, rising complexity in network infrastructure, growing volume of sensitive data, adoption of cloud computing.

The network security policy management (npsm) software market size is expected to see rapid growth in the next few years. It will grow to $3.06 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The growth in the forecast period can be attributed to integration with artificial intelligence (AI) and machine learning (ml), ai and automation integration, zero trust architecture adoption, increased remote work challenges, regulatory evolution. Major trends in the forecast period include focus on user-centric policies, technology advancements, integration with security ecosystem, threat intelligence integration, automation and orchestration.

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Market Drivers and Trends:

The increase in cyber threats is expected to propel the growth of the network security policy management (NPSM) software market going forward. Cyber threats refer to potential dangers or risks posed by malicious activities to damage data through a wide range of activities and tactics that target computer systems, networks and digital information. Network security policy management (NPSM) software prevents cyber threats by implementing and maintaining policies and procedures to protect an organization's network and data against unauthorized access, use, disclosure, disruption and destruction. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, the cybercrime reports received in 2022 were 76,000, which increased by about 13% from the previous year. Therefore, the increase in cyber threats drives the network security policy management (NPSM) software market.

Major companies operating in the network security policy management (NPSM) software market are focusing on developing artificial intelligence (AI)-powered security policy management platform to gain a competitive edge in the market. Artificial intelligence (AI)-powered security policy management platforms play a significant role in network security policy management (NPSM) software to address security policy challenges commonly faced by businesses. For instance, in September 2023, Discern Security, a US-based cybersecurity services firm, launched an artificial intelligence (AI)-powered security policy management platform. This is designed for three security policy challenges that include policy complexity, policy inconsistency and policy drift in business. It uses artificial intelligence (AI) to analyze and manage security policies for organizations to maintain compliance and reduce risk.

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Major Key Players of the Market:

Major companies operating in the network security policy management (npsm) software market report are Amazon Web Services Inc., The International Business Machines Corporation, Cisco Systems Inc., Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Arista Networks Inc., F5 Inc., Check Point Software Technologies Ltd., Trend Micro Inc., CrowdStrike Holdings Inc., CyberArk Software Ltd., Varonis Systems, SailPoint Technologies Inc., Bitdefender SRL, Ping Identity Corporation, Tufin, McAfee Corp., Skybox Security Inc., Aviatrix Inc., AlgoSec, Sophos Group plc, RedSeal Inc., Untangle Inc., SolarWinds Corporation

Network Security Policy Management (NPSM) Software Market 2024 Key Insights:

• The network security policy management (npsm) software market is expected to grow to $3.06 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%.
• Cybersecurity Challenges Fueling Demand For NSPM Software
• Focus On Artificial Intelligence (AI)-Powered Security Policy Management Platform To Drives The Revenues
• North America was the largest region in the network security policy management (NPSM) software market in 2023

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