Global Network Security Market

Global Network Security Market Size, Share, Growth Analysis, By Type(Firewall, Antivirus/Antimalware), By Industry(Aerospace, Defense), By Enterprise size(Small & Medium Enterprises, Large Enterprise), By Deployment(On-Premise, Cloud) - Industry Forecast 2024-2031


Report ID: SQMIG45D2074 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 118 | Figures: 76

Global Network Security Market Regional Insights

Most of the market share for network security is expected to be in North America. The United States also has the fastest rate of software adoption growth. Leading sectors including healthcare, BFSI, and retail make extensive use of the software to safeguard sensitive data. The United States is updating existing software and developing security solutions, and it has submitted the most patent applications for protection on the market. It is projected that this kind of protection would gradually become more popular in Canada. Europe is likewise expanding, and the market is growing steadily. The area spent over US$ 707.6 million on research and innovation in network and information security. The majority of businesses in the UK offer secure network solutions, expert cyber services, and information risk assessment and management. On the other hand, the market is consistently growing in Germany.

Asia Pacific is expected to increase gradually over the projection period, too. China is growing in the industry and spending money on security software research and development. Additionally, the Chinese government encourages people to use technology every day. Because of this, there will be a greater demand for secure networks, which will lead to market growth. Governments in several countries also pass security rules and guidelines to prevent data breaches. Security solutions have started to acquire traction as a result of the growing investments in the Middle East and Africa. The Saudi Research and Innovation Network and SAFCSP are just two of the committees that Saudi Arabia has invested in creating to cope with security issues. To prevent attacks and data breaches, the governments of Latin America are building security infrastructure. The majority of businesses in the area focus on implementing endpoint and network security regulations.

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Network Security Market size was valued at USD 20.3 Billion in 2019 and is poised to grow from USD 22.98 Billion in 2023 to USD 61.96 Billion by 2031, at a CAGR of 13.20 % during the forecast period (2024-2031).

The demand for the Global Market's high-quality items is widespread throughout several continents. As a result, the global market has hired a number of important companies to spur market expansion. These key participants are: 'Cisco Systems Inc. (US)', 'Palo Alto Networks Inc. (US)', 'Fortinet Inc. (US) ', 'Symantec Corporation (US)', 'Check Point Software Technologies Ltd. (Israel)', 'Trend Micro Inc. (Japan)', 'Juniper Networks Inc. (US)', 'McAfee LLC (US) FireEye Inc. (US)', 'F5 Networks Inc. (US)', 'Huawei Technologies Co. Ltd. (China)', 'IBM Corporation (US)', 'Akamai Technologies Inc. (US)', 'Imperva Inc. (US)', 'Sophos Ltd. (UK)', 'Rapid7 Inc. (US)', 'Splunk Inc. (US)', 'Proofpoint Inc. (US)', 'Forcepoint LLC (US)', 'Qualys Inc. (US)'

Increasing Cyber Threats at Network Point to boost Demand for the Solution

The deployment of 5G technology is accelerating quickly. With the help of improved network solutions from 5G, devices can operate at high speeds while utilizing bandwidth more efficiently and with greater dependability and latency. As a result, 5G is now widely used in fields of technology like artificial intelligence (AI), machine learning (ML), and industrial IoT. More data sharing over the network is expected as 5G technology becomes more integrated with business applications, creating new risks to data security. Cybercriminals are a worry for both users and 5G service providers. The demand for security solutions is projected to rise as 5G services are used more often.

Most of the market share for network security is expected to be in North America. The United States also has the fastest rate of software adoption growth. Leading sectors including healthcare, BFSI, and retail make extensive use of the software to safeguard sensitive data. The United States is updating existing software and developing security solutions, and it has submitted the most patent applications for protection on the market. It is projected that this kind of protection would gradually become more popular in Canada. Europe is likewise expanding, and the market is growing steadily. The area spent over US$ 707.6 million on research and innovation in network and information security. The majority of businesses in the UK offer secure network solutions, expert cyber services, and information risk assessment and management. On the other hand, the market is consistently growing in Germany.

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Global Network Security Market

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