Network Security Market Size Estimated to Observe Significant Growth by 2024

The global market for network security is witnessing constant growth, thanks to the increasing visualization of servers resulting in the adoption of innovative and new network security solutions. In addition, the rise in the use of network security solutions by medium- and small-sized businesses across the globe is expected to accelerate the development of the overall market in the next few years. The growing demand for workforce mobility, which is projected to offer improved security solutions in order to protect PDAs, laptops, and smart phones from cyber-attacks and malwares is further anticipated to contribute towards the market’s growth.

The research study offers a detailed overview of the global network security market, providing information related to the market dynamics, which are likely to impact the growth of the market in the near future. In addition, the growth drivers, barriers, latest trends, opportunities, and challenges in the global market have been highlighted to offer a strong understanding of the market.

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Global Network Security Market: Drivers and Restraints

The tremendously rising use of mobile devices and the rising demand for integrated security solutions are some of the important factors that are anticipated to fuel the growth of the global network security market in the next few years. In addition, a significant rise in the regulatory compliance requirements is likely to accelerate the growth of the overall market in the next few years. The growing popularity of Software as a Service-based network security solutions is considered as a major factor encouraging the growth of the overall market.

On the flip side, the absence of efficient security solutions and complexity of network infrastructure are estimated to hamper the growth of the global network security market. Additionally, threats arising from open-source network security solutions and technical defects are some of the other factors predicted to inhibit the market’s growth in the next few years. Nevertheless, a significant rise in the number of DDoS attacks and the rising number of mergers and acquisitions are estimated to contribute towards the growth of the market.

Global Network Security Market: Key Segmentation

The global market for network security can be categorized on the basis of product type into intrusion detection/prevention systems (IDS/IDP), next generation hybrid solutions, low end hybrid solutions, high end hybrid solutions, and virtual private network (VPN) gateways. The increasing need to implement network security, owing to the increasing use of mobile phone is accelerating the market growth. In addition, new products and the rising number of applications are likely to encourage growth in the near future. The share, size, and the projected growth rate of each segment have been included in the scope of the research study.

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Furthermore, on the basis of geography, the global network security market can be divided into four segments. As per the research study, North America is projected to witness progressive growth throughout the forecast period. Technological advancements in this field and innovations are some of the key factors that are estimated to boost the growth of the network security market in North America in the next few years.

Key Players Mentioned in the Research Report are:

The global network security market is predicted to witness progressive growth throughout the forecast period. The growing emphasis on technological developments and new product development are anticipated to offer promising opportunities for market players in the next few years. Some of the leading players operating in the network security market across the globe are Enterasys, WatchGuard, Fortinet Inc., Symantec, Juniper Networks Inc., Check Point Software Technologies Ltd., NFR, Avaya, IBM ISS, Nokia, Alcatel, Assured Digital, CyberGuard, NetScreen, ISS, Lucent, McAfee, Fortress, SonicWall, Network Associates, Cisco Systems Inc., Computer Associates, Nortel, and Intrusion.

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