Network Security Software Market Growth Trajectory Through 2024-2033

The Network Security Software Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Network Security Software Global Market Report 2024, 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.

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.

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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

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 report table of contents includes:

1. Executive Summary
2.Network Security Software Market Characteristics
3.Network Security Software Market Trends And Strategies
4.Network Security Software Market analysis
5.Network Security Software Market Size And Growth
6.Network Security Software Segmentation
7.Network Security Software Regional And Country Analysis
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27.Network Security Software Competitive Landscape And Company Profiles
28.Network Security Software Key Mergers And Acquisitions
29.Network Security Software Future Outlook and Potential Analysis

TOP MAJOR PLAYERS:

• AT&T Inc.
• International Business Machines Corporation
• Cisco Systems Inc.
• Broadcom Inc.
• Palo Alto Networks Inc.

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