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The network security software market size is forecast to increase by USD 27.3 billion at a CAGR of 14.66% between 2023 and 2028. Network security software is a critical component for safeguarding digital assets in the age of increasing Internet penetration and advanced cyber security. The market is witnessing significant growth due to the rising frequency and sophistication of cyberattacks, including unauthorized access, insider threats, and phishing attacks. To counter these threats, organizations are adopting advanced network security solutions that prioritize secure network connections. A key trend in the market is the introduction of zero-trust security architecture, which assumes that all network traffic is potentially harmful and requires verification before granting access. Balancing security and user experience is another crucial factor driving market growth.
The market is a critical component in the modern business landscape, as organizations increasingly rely on digital infrastructure to drive growth and innovation. This market encompasses a range of solutions designed to safeguard network connections and data from various cyber threats. Firewalls represent a fundamental aspect of network security, acting as a barrier between an organization's internal network and the Internet. Firewalls monitor and control incoming and outgoing network traffic based on predetermined security rules, ensuring secure network connections. Antivirus and antimalware software are essential tools in the fight against malicious software.
IDS solutions analyze network traffic to detect intrusions, while IPS solutions go a step further by preventing attacks in real-time. Secure Web Gateways provide an additional layer of security by controlling access to the web and protecting against web-based threats. These solutions use various techniques, including URL filtering, malware scanning, and content analysis, to ensure secure browsing. Internet penetration testing is an essential practice for assessing the security of an organization's network and identifying vulnerabilities. Advanced software tools can simulate cyber attacks to help organizations fortify their defenses against real-world threats. Network security software is essential for large enterprises in various industries, including aerospace and defense, banking, and financial services.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The solution segment is estimated to witness significant growth during the forecast period. The Network Security Market in the United States is witnessing significant growth due to the increasing number of cyber threats targeting businesses. This market encompasses various solutions such as firewalls, antivirus software, network access control, data loss prevention tools, and intrusion detection and prevention systems. Among these, firewalls are leading the market, providing advanced capabilities for monitoring and controlling data flow both internally and externally. Their importance is underscored by the growing emphasis on perimeter security. Antivirus and antimalware solutions are indispensable for safeguarding networks against a diverse range of malware. The sophistication of cyber threats necessitates continuous updates and improvements in these solutions.
Moreover, the shift towards remote working and e-learning, fueled by the COVID-19 pandemic, has led to an increased reliance on cloud-based solutions. This trend is further moved by the emergence of 5G technology, which promises faster and more reliable connectivity. Machine Learning (ML) and Artificial Intelligence (AI) are being integrated into network security solutions to enhance threat detection and response capabilities. In summary, the Network Security Market in the US is experiencing substantial growth due to the increasing cyber threats, the need for advanced perimeter security, the shift towards remote work and e-learning, and the integration of ML and AI into network security solutions.
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The solution segment accounted for USD 11.20 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The North American market is experiencing substantial growth and is expected to continue expanding during the forecast period. The increasing need for secure IT and telecommunication systems in various sectors, including Energy and Utilities, Cybersecurity, and Telecommunications, is driving market growth. Digital Transformation is a primary factor fueling this demand, as businesses prioritize securing their sensitive data and critical infrastructure from increasingly complex cyber threats. Moreover, the shift towards remote work and the implementation of VPN-as-a-Service solutions have further highlighted the importance of strong network security. Smart City Initiatives and the digitalization of operations in numerous industries are also contributing to the expansion of the North American market.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising frequency and sophistication of cyberattacks is the key driver of the market. The escalating number and complexity of cyber threats necessitate the deployment of advanced network security software solutions. Businesses are recognizing the importance of vigorous network security measures in the face of evolving attack methods. Leading companies like Cisco and Palo Alto are investing significantly in innovative network security software to safeguard their networks. These solutions offer enhanced threat detection, prevention, and response capabilities, empowering organizations to mitigate risks effectively.
As cyberattacks become more frequent and intricate, the demand for network security software is on the rise. Organizations are seeking reliable tools to bolster their defenses and shield their valuable assets from potential breaches and data leaks.
The introduction of zero-trust security architecture is the upcoming trend in the market. The market in the US is witnessing significant growth due to the increasing risks of cyber threats, unauthorized access, and phishing attacks on networks. Advanced software solutions are being adopted to secure network connections and protect against these threats. Zero-trust architectures, a key trend in this market, challenge the traditional approach of trusting all devices and individuals within a network. Instead, these architectures focus on continuous verification and authorization, regardless of the location or network borders. Network access control solutions are gaining traction, enabling secure access to network nodes. The demand for up-to-date security measures is driving a notable growth rate for these solutions.
By implementing zero-trust principles, organizations can enhance their network security, minimize the impact of potential breaches, and ensure that access is granted based on current and contextual conditions. Network security software manufacturers are increasingly integrating zero-trust capabilities into their offerings to help businesses better safeguard their networks from insider threats and external cyber attacks.
Balancing security and user experience is a key challenge affecting the market growth. Maintaining a balance between vigorous network security and unhindered user experience is a significant challenge in the market in the United States. While it is crucial to implement strong security measures to safeguard against cyberattacks and protect sensitive information, overly restrictive or intricate regulations can hinder productivity and negatively impact users. To hit this balance, network security software must be meticulously designed and implemented, taking into account the unique requirements of each organization. Effective security measures include technologies such as secure web gateways, Unified Threat Management (UTM), vulnerability scanning, sandboxing, URL filtering, network auditing, and more. These solutions help protect against various threats, including malware, phishing, and unauthorized access.
However, it is essential to ensure that these measures do not impede regular operations or cause frustration for users. Continuous evaluation and adjustment of security measures are necessary to maintain a high level of security while improving productivity and user satisfaction. Organizations must stay informed about the latest cybersecurity trends and threats and adapt their security strategies accordingly. By investing in the right network security software and implementing best practices, businesses can protect their networks and data while ensuring a seamless user experience.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Cisco Systems Inc.: The company offers network security software such as Advanced Malware Protection, Cloud security, Email security, Endpoint security, and Firewalls.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing number of cyber threats targeting sensitive information on networks. Firewalls, antivirus, antimalware, network access control (NAC), data loss prevention, intrusion detection systems (IDS), intrusion prevention systems (IPS), secure web gateways, unified threat management, vulnerability scanning, sandboxing, URL filtering, network auditing, and other advanced software solutions are essential components of a strong cybersecurity infrastructure. Cyberattacks, such as unauthorized access, insider threats, phishing attacks, and quantum spark series, pose a constant threat to networks, particularly those used in industries like healthcare, IT and telecommunications, banking, financial services, aerospace and defense, and energy and utilities.
Further, with the rise of mobility, internet penetration, remote working, e-learning, 5G technology, machine learning (ML), and artificial intelligence (AI), the need for secure network connections and data security has become paramount. Cloud-based solutions, cybersecurity infrastructure, data encryption, security budget, and security awareness are key considerations for organizations looking to protect their digital infrastructure. Operational technology (OT) and e-commerce are also areas of focus for network security, with VPN-as-a-service, smart city initiatives, IPS, and VPNs being popular security solutions. The network security market is expected to continue growing as organizations invest in advanced software to protect their networks from evolving cyber threats.
Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.66% |
Market Growth 2024-2028 |
USD 27.3 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
11.15 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 44% |
Key countries |
US, China, UK, Japan, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AO Kaspersky Lab, AT and T Inc., Avast Software sro, Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., FireMon LLC, Fortinet Inc., GFI USA Inc., International Business Machines Corp., Juniper Networks Inc., McAfee LLC, Musarubra US LLC, Open Text Corp., Palo Alto Networks Inc., Qualys Inc., SOFTWIN SRL, SolarWinds Corp., Trend Micro Inc., and WatchGuard Technologies Inc. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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