New York, NY -- (SBWIRE) -- 03/03/2021 -- The Network Security Market size is anticipated to register at a CAGR of 10.2%, growing from USD 168.27 billion in 2019 to attain a valuation of USD 273.58 billion by 2027. The market growth is majorly driven by the requirement for stringent data protection and increasing incidences of cyber-terrorism. Due to the rising incidences of hacking and data breaching, the market for network security has been gaining traction over the last decade. Due to the growing virtualization and digital transformation, the need for network security solutions for cloud technology and BYOD is increasing exponentially.

Network security is a term that covers a broad spectrum of services, such as a multitude of processes, devices, and technologies. Essentially it is a set of configurations and commands designed to protect and maintain the integrity, confidentiality, and accessibility of the networks and data through the incorporation of stringent software and hardware services. With increasing risks in network infrastructure, large and small enterprises have started investing in the deployment of network security solutions to manage risks. The benefit of network security solutions is that they reduce capital expenditures and enhance workforce productivity.

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Further key findings from the report suggest:

The Network Security Market size is anticipated to register at a CAGR of 10.2%, growing from USD 168.27 billion in 2019 to attain a valuation of USD 273.58 billion by 2027.

The market growth is majorly driven by the requirement for stringent data protection and increasing incidences of cyber-terrorism.

Network security is a term that covers a broad spectrum of services, such as a multitude of processes, devices, and technologies. Essentially it is a set of configurations and commands designed to protect and maintain the integrity, confidentiality, and accessibility of the networks and data through the incorporation of stringent software and hardware services.

Due to the rising incidences of hacking and data breaching, the market for network security has been gaining traction over the last decade.

Due to the growing virtualization and digital transformation, the need for network security solutions for cloud technology and BYOD is increasing exponentially. This has compelled the network security solutions providers to provide enhanced and innovative solutions such as firewalls and others.

The key factor restraining the market's growth is the increased susceptibility of the devices to cyber-attacks and terrorism. The growing incidences of these attacks have rattled the network infrastructure of several large and small organizations increasing the network's susceptibility to viruses, malware attacks, and data breaching.

Based on the product type, the intrusion prevention system (IPS) is anticipated to grow at a significant rate during the forecast period to gain the market's largest share. This can be attributed to the rising need to deploy advanced network solutions market due to the rising penetration of smartphones and connective devices.

The Intrusion Prevention System segment is anticipated to grow at a CAGR of 27% over the forecast period, garnering a revenue of USD 67 billion by the end of 2027.

Based on the regions, the report covers the following regions:

North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Competitive Terrain:

The global Network Security market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies' current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.

The leading companies operating across the global Network Security market are listed below:

Aruba Networks, Symantec Corp., McAfee, Juniper Solutions, Ruckus, Honeywell, Fortinet, Motorola Solutions, Cisco Systems Inc., Sophos Ltd., Brocade Communications Systems Inc., Aerohive, ADT Security Services, among others.

By Product (Revenue, USD Million; 2017–2027)

Intrusion Prevention System (IPS)

Application Control

URL Filtering

Anti-Bot

Web Security

Anti-Spam and Email Security

Acceleration and Clustering

By Service (Revenue, USD Million; 2017–2027)

Managed Security Services

Security Operation Services

Consulting Services

By Industry Vertical (Revenue, USD Million; 2017–2027)

Manufacturing

Retail

Aerospace and Defense

Healthcare

Telecommunication and IT

Government and Utilities

Banking financial services and insurance (BFSI)

By Deployment Type (Revenue, USD Million; 2017–2027)

On-Premise

Hosted

Hybrid

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Radical Features of the Network Security Market Report:

Valuable insights into the Network Security market to impart an in-depth understanding of the business verticle

An 8-year forecast estimation along with an analysis of key elements of the market

Technological advancements, regulatory framework, and recent developments covered in the report

Growth analysis and projections until 2027

Statistical analysis of the key players operating in the Network Security industry

Table Of Contents:

Chapter 1. Market Synopsis

   1.1. Market Definition

   1.2. Research Scope & Premise

Chapter 2. Executive Summary

   2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

   3.1. Macro Indicators

       3.1.1. Global usage of Network Security

       3.1.2. Global Network Security Usage by Solution

Chapter 4. Network Security Market Segmentation & Impact Analysis

   4.1. Network Security Segmentation Analysis

   4.2. Industrial Outlook

   4.3. Regulatory Framework

   4.4. Network Security Market Impact Analysis

Chapter 5. Network Security Market By Product Insights & Trends

   5.1. Product Dynamics & Market Share, 2018 & 2026

   5.2. Intrusion Detection/Prevention systems (IDS/IDP)

       5.2.1. Market estimates and forecast, 2016 – 2026 (USD Million)

       5.2.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)

   5.3. Next Hybrid Solutions

       5.3.1. Market estimates and forecast, 2016 – 2026 (USD Million)

       5.3.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)

   5.4. Low-end hybrid solutions

       5.4.1. Market estimates and forecast, 2016 – 2026 (USD Million)

       5.4.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)

Continued…

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