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Network Security Market Size was valued at USD 19.98 billion in 2021. It is expected to reach a value of USD 51.89 billion by 2028, at a CAGR of 12.5% over the forecast period (2022 - 2028).

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: 'Check Point Software Technologies Ltd. (Israel)', 'Cisco Systems, Inc. (US)', 'FireEye, Inc. (US)', 'Fortinet, Inc. (US)', 'Juniper Networks, Inc. (US)', 'Kaspersky Lab. (Russia)', 'McAfee, LLC (US)', 'Palo Alto Networks, Inc. (US)', ' (US)', 'WatchGuard Technologies, 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

Product ID: SQSG45D2022