TMCnet News

Network Security Market to Garner $63.39 Bn, Globally, by 2027 at 16.7% CAGR: Allied Market Research
[June 03, 2021]

Network Security Market to Garner $63.39 Bn, Globally, by 2027 at 16.7% CAGR: Allied Market Research


PORTLAND, Ore., June 3, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Network Security Market By Component (Solution and Services), Solution (Firewall, Antivirus, Network Access Control, Data Loss Prevention, IDS/IPS, Secure Web Gateways, DDoS Mitigation, Unified Threat Management and Others), Services (Professional Services and Managed Services), Deployment (On-Premise and Cloud), Organization Size (Small & Medium Enterprise and Large Enterprise) and Industry Vertical (Aerospace And Defense, Government, Banking, Financial Services, And Insurance (BFSI) ,Information Technology (IT) And Telecommunication, Healthcare, Retail, Manufacturing, Energy & Utilities and Others): Global Opportunity Analysis And Industry Forecast, 2020–2027". As per the report, the global network security industry was pegged at $18.48 billion in 2019, and is estimated to reach $63.39 billion by 2027, growing at a CAGR of 16.7% from 2020 to 2027.

Allied_Market_Research_Logo

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/10971

Drivers, restraints, and opportunities

Rise in level of cybercrimes, higher economic losses, and increase in data safety and privacy concerns drive the growth of the global network security market. However, high setup costs hinder the market growth. On the contrary, increase cyber-attacks during the Covid-19 pandemic and growth in digitalization trends across the globe are expected to open lucrative opportunities for the market players in the future.

Impact of Covid-19 on Network Security Market:

  • Due to strict regulations of lockdown, the majority of companies adopted work from home culture, which has increased the risk of cyber threats and cybercrime. This increased the demand for network security.
  • During the pandemic, more and more companies have been investing in cybersecurity and network security to offer remote workforce support.
  • The demand for network security from the healthcare sector increased due to Covid-19 pandemic as the network traffic from hospitals increased exponentially.

Get detailed COVID-19 impact analysis on the Network Security Market: https://www.alliedmarketresearch.com/request-for-customization/10971?reqfor=covid

The solution segment held the lion's share

By component, the solution segment dominated the market in 2019, accounting for more than three-fifths of the global network security market, as network security solution monitors user activity, creates access limitation, trains and educates users, provides detailed information of log activities, creates plans for data breach response, compliance management, data encryption, and web application management. However, the service segment is estimated to register the highest CAGR of 17.4% from 2020 to 2027. This is owing to rise in need for security in any network as network security issues grow.

The unified threat management segment to manifest the highest CAGR through2027



By solution type, the unified threat management segment is projected to portray the highest CAGR of 24.3% during the forecast period, due to surge in the importance of cybersecurity and the increase in cyber-attacks. However, the firewall segment held the lion's share in 2019, contributing to around one-fourth of the global network security market, owing to emergence of cloud-based technology.

For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/10971


North America dominated the market

By region, the market across North America held the largest share in 2019, accounted for nearly two-fifths of the market, due to increase in the number of cyberattacks in the U.S. and rapid increase in number of connected devices in the region. However, the global network security market across Asia-Pacific is projected to register the highest CAGR of 18.3% during the forecast period, owing to rise in the number of cyber-attacks.

Major market players

  • Cisco Systems
  • Solarwinds
  • IBM
  • Trend Micro
  • FireMon
  • Symantec
  • FireEye
  • GFI Software
  • Avast Software
  • Juniper Networks

Official Press Release: https://www.alliedmarketresearch.com/press-release/network-security-market.html

Similar Research Reports for Information, Communication and Technology:

Email Encryption Market Expected to Reach $3,186 Million, Globally, by 2023

Neural Network Market worth $38,719 Million Globally by 2023

Security Information& Event Management Market to Reach $3,720 Million Globally by 2023

Application Container Market Predicted to Reach $8,202 Million by 2025

Network Traffic Analytics Market Expected to Reach $3.11 Billion by 2026

Function-as-a-Service Market Expected to Reach $24,007.00 Million by 2026

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com  
Web: https://www.alliedmarketresearch.com    
Follow Us on: LinkedIn Twitter 

 

Cision View original content:http://www.prnewswire.com/news-releases/network-security-market-to-garner-63-39-bn-globally-by-2027-at-16-7-cagr-allied-market-research-301305336.html

SOURCE Allied Market Research


[ Back To TMCnet.com's Homepage ]