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The global network security market attained a value of over USD 22.56 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 14.8%.
Network security is a wide term that incorporates a variety of devices, processes, and technologies. It is a set of rules and configurations created to safeguard the confidentiality, accessibility, and integrity of computer networks along with data, utilising both hardware and software technologies. Every organisation, irrespective of industry, infrastructure, or size needs a level of network security solutions at some point to shield it from the growing risk of cyber threats.
Based on solution type, the market can be segmented into firewalls, antivirus/antimalware, network access control (NAC), data loss prevention, secure web gateways, DDoS mitigation, and unified threat management, among others. On the basis of deployment mode, the market is categorised into on-premises and cloud. Based on organisation size, the market is segmented into large enterprises and small and medium enterprises.
On the basis of end-users, the market segmented into aerospace and defence, government, banking, financial services and insurance (BFSI), IT and telecommunication, healthcare, and energy and utilities, among others. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global network security market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
The large enterprises segment is holding robust growth in the network security market share across the globe on account of the rising number of cyberattacks in large enterprises. In various regions, large enterprise are allocating adequate budgets for online security.
Meanwhile, the small and medium enterprises segment is expected to boost the market growth of network security over the coming years. The surging awareness regarding security coupled with the rise in threats of cyber-attacks is likely to encourage the segment growth of small and medium enterprises in the market share of network security across the globe. Small and medium enterprises are easy targets for hackers which is positively influencing consumers to adopt network security.
Geographically, the North America region is expected to augment the network security market share on account of the growing adoption of software, especially in the United States. The strong presence of industries like healthcare, retail, and BFSI in the region is extensively implementing software to shield their data privacy. The United States is likely to hold the market growth of network security on account of the increasing presence of providers for advanced software and security solutions.
Meanwhile, the Asia Pacific is expected to fuel the growth of the network security market on account of the growing investments in the research and development of security software, especially in China. The rising government initiatives in China to enhance the adoption of digitalisation by consumers in regular day routines which is further expected to boost the demand for secure networks.
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IBM Corporation is a leading United States-based multinational company that was established in 1911. The company is one of the biggest technology companies across the globe and is worldwide known brand. It sells and manufactures computer software and hardware along with providing hosting services, consulting services, and infrastructure services, varying from nanotechnology to mainframe computers.
Cisco Systems, Inc. was established in 1984 in the United States. It is a global leading company in networking for the Internet. It deals in the manufacture, sale, and design of Internet Protocol-based networking services and products related to the information technology and communications industries. Its service, hardware, and software offerings are utilised to produce Internet solutions that give companies, individuals, and countries easy access to information at anytime and anywhere.
Fortinet, Inc. is a United States-based company that was founded in 2000. It is a leading security company that builds and develops custom security processing unit (SPU) technology. This further provides the best value and performance across the industry with high Security Compute Ratings and software-oriented as well as CPU-driven approaches.
Other market players include FireEye, Inc., and WatchGuard Technologies, Inc., among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Solution Type |
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Breakup by Deployment Mode |
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Breakup by Organisation Size |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global market of network security attained a value of over USD 22.56 billion.
The market is assessed to grow at a CAGR of 14.8% between 2024 and 2032.
The major market drivers are the rising cyber threats and increasing investment in research and innovation for network and information security.
The key network security market trends include advancements in technology, adoption by governments, and availability of comprehensive network security solutions.
The various solution types of network security include firewalls, antivirus/antimalware, network access control (NAC), data loss prevention, secure web gateways, DDoS mitigation, and unified threat management, among others.
The different deployment types of network security include on-premises and cloud.
The organisation sizes using network security include large enterprises and small and medium enterprises.
The several end uses of network security include aerospace and defence, government, banking, financial services and insurance (BFSI), IT and telecommunication, healthcare, and energy and utilities, among others.
The major players in the market are IBM Corporation, Cisco Systems, Inc., FireEye, Inc., Fortinet, Inc., and WatchGuard Technologies, Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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