Market Highlights
Network security policy mangement has been one of the most demanding cybersecurity solutions due to increased cyberattacks on network layer of an enterprise IT infrastructure. The demand for network security policy management solution have been further increased with advancements in IoT, global adoption of cloud services, and growing BYOD trend across the globe. Furthermore, need to meet compliance requirements and ensure security and privacy of data have further contributed in the overall growth of the market. Increasing complexity of enterprises’ network will support the continous growth of network security policy management market in the upcoming years. The Network Security Policy Management Market is expected to grow with the CAGR of 9.2% from 2018 to 2023 and reach USD 2.14 billion by 2023.
Various factors are fuelling the global network security policy management market growth. As per the recent MRFR market estimates, such factors include increasing need for protecting network layers of enterprises from advanced cyber threats, growing demand to meet the compliance needs, rising data theft concerns among organizations, rising need for effective security and risk management tool, growth in cyber-attacks worldwide, increasing need for effective security and risk management tool, growing concern over data security, and growing data breach concerns and data theft. The additional factors adding market growth include addressing the need for building detection and response capabilities and focus in digital business risk.
On the contrary, the impact of the COVID-19 pandemic, limited and lack of awareness about cyber threats in developing regions, less spending on cyber-security solutions, and high initial investment may limit the global network security policy management market growth over the forecast period.
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Segmentation:
The MRFR report throws light on an inclusive segmental analysis of the global network security policy management market based on industry verticals, deployment modes, and components.
By component, the global network security policy management market is segmented into services and solutions.
By deployment mode, the global network security policy management market is segmented into on-premises and cloud. Of these, the cloud segment will lead the market over the forecast period.
By industry vertical, the global network security policy management market is segmented into manufacturing, energy and utilities, retail, healthcare, IT and telecom, government and defense, BFSI, and others. Of these, the BFSI segment will dominate the market over the forecast period.
Regional Analysis
By region, the global network security policy management market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. Adoption of cyber-security solutions, advanced infrastructure, the presence of big players, early adoption of new technologies like AI and IoT, growing demand in the US, increasing adoption by the defense, government, and BFSI sectors, increase in cloud adoption owing to various factors like advanced IT infrastructure, regulations, and standards, the availability of proficient technical expertise, and the presence of a large number of enterprises are adding to the global network security policy management market growth in the region.
In the APAC region, the global network security policy management market is predicted to have admirable growth over the forecast period. The region being technologically and economically developed, the presence of emerging economies such as India, China, and Japan, increasing digitalization, adoption of IoT and cloud technologies, increased demand for cloud computing among SMEs, businesses increasingly implementing security policy management solutions for detecting and preventing threats at the early stage, increasing focus to address digital business risks, and focus to build detection and response capabilities are adding to the global network security policy management market growth in the region.
In Europe, the global network security policy management market is predicted to have healthy growth over the forecast period for increasing adoption in the healthcare vertical.
In RoW, the global network security policy management market is predicted to have sound growth over the forecast period.
Key Players
The eminent players profiled in the global network security policy management market report include Tufin Software Technologies, Juniper Networks, Inc., Sophos Ltd., IBM Corporation, FireMon, LLC, HPE Development LP, Forcepoint LLC, AlgoSec Inc., Check Point Software Technologies Ltd., and Palo Alto Networks, Inc., among others.
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Network Security Policy Management Market Research Report, By Component (Solution and Services), Deployment Mode (On-premises and Cloud), Industry Vertical (BFSI, government and defense, healthcare) — Global Forecast till 2027
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