The global network security market size was US$ 27.1 billion in 2021. The global network security market is forecast to grow to US$ 86.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 13.1% during the forecast period from 2022 to 2030. 

Factors Influencing the Market

The creation and implementation of Network Access Control (NAC) is becoming more popular around the world. Its capabilities, including incident response, policy lifecycle management, guest networking access, and security posture access, are likely to benefit the global network security market. 

The global network security market is forecast to gain traction, owing to the stringent government rules and regulations benefitting the global network security market. 

The rising adoption of SaaS and Cloud-based security technologies will propel the global network security market forward.

The combination of advanced deep learning and machine learning capabilities will offer ample growth opportunities for the global network security market. 

Growing demand for integrated security systems will benefit the global network security market.

The high costs and budget restrictions may restrict the market growth.

COVID-19 Impact Analysis

Due to the wake of the COVID-19 pandemic, the network security market has witnessed significant economic turmoil. However, digital technologies are playing a vital role in every industry. In addition, the growing demand for revamping remote working technologies is forecast to surge the market growth. 

Due to lockdowns, several businesses need workers to work from home using the company's network. Excessive internet use during the coronavirus pandemic increased the demand for network security. 

Regional Analysis

North America is forecast to hold the highest share of the global network security market. Moreover, Europe and Asia-Pacific are forecast to hold the second and the third-highest share, owing to the growing cases of data breaches. Network security software solutions are being adopted by companies in North America to detect and avert threats. 

Competitors in the Market

• Cisco Systems Incorporated
• SolarWinds Incorporated
• IBM Corporation
• Trend Micro Incorporated
• FireMon LLC
• Symantec Corporation
• FireEye Incorporated
• GFI Software
• Avast Software
• WatchGuard
• Bitdefender
• Webroot Incorporated
• Juniper Networks Incorporated
• McAfee LLC
• Motorola Solutions Incorporated
• Other Prominent Players

Market Segmentation

Based on the component, the global network security market has been segmented into –

• Solutions
  • Firewall Security
  • Virus/Malware protection
  • Network Access Control (NAC)
  • Data Loss Prevention
  • Data encryption
  • URL and content filtering
  • IDS/IPS
  • Secure Web Gateways
  • DDoS Mitigation
  • Unified Threat Management
  • web application management
  • Advanced threat detection
  • Vulnerability Scanning and Management
  • Sandboxing
  • Others (Compliance Management, Uniform Resource Locator [URL] Filtering, Network, and Software Auditing)
• Services
• Professional
  • Design and Implementation
  • Consulting
  • Training and Education
• Support and Maintenance
• Managed Services

Based on the deployment model, the network security market has been segmented into –

• On-premises
• Cloud

Based on the organization size, the network security market has been segmented into–

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

Based on the End-User Industry, the network security market has been segmented into –

• Aerospace and Defense
• Government
• Banking, Financial Services, And Insurance (BFSI)
• Information Technology (IT) and Telecommunication
• Healthcare
• Retail
• Manufacturing
• Energy and Utilities
• Others (ISP hosting, Media and Entertainment, and Transport and Logistics)

Based on the Region, the network security market has been segmented into –

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America