The network security software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Network Security Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The network security software market size has grown rapidly in recent years. It will grow from $24.21 billion in 2023 to $27.33 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to increasing cyber threats, compliance and data privacy concerns, rise in remote work practices, digital transformation initiatives, high-profile data breaches, need for continuous monitoring.
The network security software market size is expected to see rapid growth in the next few years. It will grow to $43.94 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to increased focus on cloud security, regulatory changes and cybersecurity standards, expanded remote work scenarios, growing sophistication of cyber threats, focus on user and entity behavior analytics (UEBA). Major trends in the forecast period include zero trust architecture, AI-powered threat detection, cloud-based security solutions, identity and access management (IAM) integration, IoT security measures, behavioral analytics.
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Scope Of Network Security Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Network Security Software Market Overview
Market Drivers –
The increasing number of cyber attacks is expected to propel the growth of the network security software market going forward. Cyber attacks refer to potential dangers and risks to information systems, networks, and computer infrastructure. Network security software is used in cybersecurity by acting as a barrier between the internal network and the external world, only allowing authorized traffic to pass through. For instance, in November 2022, according to the Australian Cyber Security Centre, an Australia-based government agency, the number of cybercrime reports received in 2021-2022 was 76,000, an increase of nearly 13% from the 2020-2021 financial year. Therefore, the increasing number of cyber attacks is driving the network security software market.
Market Trends –
Major companies operating in the network security software market are developing software, such as AI network security software, to gain a competitive edge in the market. AI Network Security software refers to solutions that leverage Artificial Intelligence (AI) and Machine Learning (ML) techniques to automate and enhance various aspects of network security. For instance, in January 2024, Vehere, a US-based cybersecurity software company, launched NDR 1.4.1, a network security software. It’s an AI-powered solution that combines Network Detection & Response (NDR) and Network Forensics capabilities. It utilizes AI and machine learning to analyze network traffic and user behavior for advanced threat detection, including malware, data breaches, and insider threats.
The network security software market covered in this report is segmented –
1) By Type: Firewalls, Antivirus And Anti-Malware Software, Virtual Private Network(VPN), Wireless Security, Other Types
2) By Deployment: On-Premises, Cloud
3) By Organization Size: Small Enterprises, Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Vertical: Aerospace And Defense, Government, Banking, Financial Services, And Insurance (BFSI), Information Technology (IT) And Telecommunication, Healthcare, Retail, Manufacturing, Energy And Utilities, Other Verticals
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Regional Insights –
North America was the largest region in the network security software market in 2023. The regions covered in the network security software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
AT and T Inc., International Business Machines Corporation, Cisco Systems Inc., Broadcom Inc., Palo Alto Networks Inc., Juniper Networks Inc., Open Text Corp., Fortinet Inc., Check Point Software Technologies Ltd., Trend Micro Inc., Kaspersky Lab, SolarWinds Corporation, FireEye Inc., Qualys Inc., SonicWall, Avast PLC, McAfee LLC, AO Kaspersky Lab, FireMon LLC., GFI USA Inc., SOFTWIN SRL, Enterprise Security, Symantec Corporation, WatchGuard Technologies Inc., Musarubra US LLC
Table of Contents
1. Executive Summary
2. Network Security Software Market Report Structure
3. Network Security Software Market Trends And Strategies
4. Network Security Software Market – Macro Economic Scenario
5. Network Security Software Market Size And Growth
…..
27. Network Security Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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