Global Network Security Policy Management (NPSM) Software Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Network security policy management (NSPM) software is a specialized tool or suite of tools designed to help organizations effectively define, implement and manage their network security policies. Network security policy management (NSPM) software is used by technical and business teams to monitor an organization’s network for compliance with relevant laws, regulations and industry standards, alerting users for any potential violations.

Sizing and Forecast
The network security policy management (npsm) software market size has grown rapidly in recent years. It will grow from $1.45 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%.  The  growth in the historic period can be attributed to increasing cyber threats, stringent regulatory compliance, rising complexity in network infrastructure, growing volume of sensitive data, adoption of cloud computing.

The network security policy management (npsm) software market size is expected to see rapid growth in the next few years. It will grow to $3.06 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%.  The growth in the forecast period can be attributed to integration with artificial intelligence (AI) and machine learning (ml), ai and automation integration, zero trust architecture adoption, increased remote work challenges, regulatory evolution. Major trends in the forecast period include focus on user-centric policies, technology advancements, integration with security ecosystem, threat intelligence integration, automation and orchestration.

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Segmentation & Regional Insights
The network security policy management (npsm) software market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment:  On-Premise, Cloud-Based
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Industry: Banking, Financial Services, And Insurance (BFSI), Health Care, Government And Defence, Information Technology(IT) And Telecom, Retail And E-commerce, Energy And Utilities, Other Industries

North America was the largest region in the network security policy management (NPSM) software  market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the network security policy management (npsm) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increase in cyber threats is expected to propel the growth of the network security policy management (NPSM) software market going forward. Cyber threats refer to potential dangers or risks posed by malicious activities to damage data through a wide range of activities and tactics that target computer systems, networks and digital information. Network security policy management (NPSM) software prevents cyber threats by implementing and maintaining policies and procedures to protect an organization’s network and data against unauthorized access, use, disclosure, disruption and destruction. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, the cybercrime reports received in 2022 were 76,000, which increased by about 13% from the previous year.  Therefore, the increase in cyber threats drives the network security policy management (NPSM) software market.

Key Industry Players
Major companies operating in the network security policy management (npsm) software market report are Amazon Web Services Inc., The International Business Machines Corporation, Cisco Systems Inc., Palo Alto Networks Inc., Juniper Networks Inc. , Fortinet Inc., Arista Networks Inc., F5 Inc., Check Point Software Technologies Ltd., Trend Micro Inc., CrowdStrike Holdings Inc., CyberArk  Software Ltd., Varonis Systems , SailPoint Technologies Inc., Bitdefender SRL, Ping Identity Corporation, Tufin, McAfee Corp., Skybox Security Inc., Aviatrix Inc., AlgoSec, Sophos Group plc, RedSeal Inc., Untangle Inc., SolarWinds Corporation

The network security policy management (npsm) software market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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