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The latest research study “Network Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global network security market size reached US$ 29.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 76.2 Billion by 2028, exhibiting a growth rate (CAGR) of 15.5% during 2023-2028.

Network security is used to protect the network and data from unauthorized access and harm. It includes unified threat management (UTM), data loss prevention, firewall, virus and antivirus software, managed services, network access control (NAC), and secure web gateways that safeguard the confidentiality and accessibility of computer networks and data. It also helps protect client data and information, ensure reliable access and network performance, securely share data, and protect the data against cyber threats. Owing to these properties, network security is widely adopted across several industrial verticals.

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Network Security Market Trends and Drivers:

The market is primarily driven by the growing incidences of cybercrimes and data losses across the globe. In addition, the escalating demand for smartphones and increasing internet penetration in remote locations represent another major growth-inducing factor. Besides this, key players are integrating artificial intelligence (AI) and machine learning (ML) to reduce the risk of breaches and improve overall security. This, coupled with the rising popularity of the Bring Your Own Device (BYOD) policy by businesses and the increasing acceptance of work-from-home culture due to the coronavirus disease (COVID-19) pandemic, is also contributing to the market growth. Moreover, the rising deployment of network security for protecting the data, applications, and IT resources and the implementation of various government initiatives to ensure the safety and privacy of user data is also creating a positive market outlook across the globe.

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Network Security Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• AT&T Inc.,
• Avast Software s.r.o.,
• Broadcom Inc.,
• Cisco Systems Inc.,
• Fortinet Inc.,
• International Business Machines Corporation,
• Juniper Networks Inc.,
• NortonLifeLock Inc.,
• Palo Alto Networks Inc.,
• SonicWall,
• Trellix (Symphony Technology Group)
• Trend Micro Incorporated

The report has segmented the market on the basis of component, deployment mode, organization size and industry vertical.

Breakup by Component:

• Solutions
  • Firewalls
  • Antivirus/Antimalware
  • Network Access Control (NAC)
  • Data Loss Prevention
  • IDS/IPS
  • Secure Web Gateways
  • DDoS Mitigation
  • Unified Threat Management
  • Others
• Services
  • Professional Services
  • Managed Services

Breakup by Deployment Mode:

• Cloud-based
• On-premises

Breakup by Organization Size:

• Large Enterprises
• Small and Medium-sized Enterprises

Breakup by Industry Vertical:

• IT and Telecommunication
• BFSI
• Aerospace and Defense
• Government
• Healthcare
• Retail
• Manufacturing
• Energy and Utilities
• Others

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Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.