The Multi-layer Security Market Size was estimated at a value of USD 7.65 Billion during the historic forecast period and is expected to reach USD 11.7 Billion at a CAGR of 7.38% during the forecast period 2018-2023. The growing demand for a security strategy that uses several levels of protection in a network has been ascribed to the growing development in network automation and increased usage of cloud-based services including the Multi-layer Security Market. This allows different IT service providers to manage and create an efficient service portfolio for their consumers while lowering the risk of a cyber-attack or data breach. The main advantage of Multi-layer Security Industry solutions is that they provide a backup at each level of security. These solutions can be used at the network, application, and even client or customer levels. Each layer focuses on a specific danger and is designed to fill in the security weaknesses left by the preceding layer. Thus, helps in increasing the Multi-layer Security Industry Share.
COVID 19 Analysis
At the beginning of 2020, normalcy in the global market was expected. The sudden outbreak of the COVID-19 disease began to spread around the world, millions of people worldwide were infected with COVID-19 disease, and major countries around the world have implemented foot prohibitions and other issues like the work stoppage orders. Except for the medical supplies and life support products industries, most of the global market industries have been greatly impacted, and it is known that the Multi-layer Security industry has also been greatly affected. The arrival of the pandemic has been such that the global multi-layer security market has been witnessing the decline in the global market and hence, the market has been witnessing losses and hampering the Multi-layer Security Market Growth.
The collaborative efforts of the global governments and the major market players are likely to help the expansion and growth goals of the global market during the ongoing forecast period that will be ending in 2023.
The growing advancement in network automation and increased adoption of cloud-based services has attributed to the demand for a secure approach that uses different levels of security in a network. This enables various IT service providers to manage and achieve an efficient service portfolio for their customers by reducing the chances of cyber-attack or data breaches. The most important benefit of utilizing multi-layer security solutions is to additionally create a backup at each level of the security. These solutions can be applied at the network layer, application layer, and even a client’s or customer’s side. Each layer works individually over a specific threat and is meant to cover up the security gaps left over at the previous level. There are various types of security layers that can be used in a network including web protection, email security, anti-virus, firewalls, anti-spam, privacy controls, and others. These solutions ensure the safety of the data and subsequently monitor the transfer of information. Thus, this helps in increasing the Multi-layer Security Market Share.
However, deploying a multi-layer security system with the appropriate tools is a huge task. The advent of advanced alternative security systems is a major stumbling block for the Multi-layer Security Market Growth.
The market in the region is growing due to a well-established IT infrastructure and the use of modern security technologies to secure business data. The widespread implementation of IoT and cloud-based software-defined technologies in various enterprises, as well as the widespread presence of multi-layer security service providers across the region, is fueling Multi-layer Security Market Size. Furthermore, technological advancements are boosting global demand for Multi-layer Security Market Analysis. According to a Morphean survey of over 1,000 IT decision-makers throughout Europe, nearly half of IT managers are presently adopting cloud-based video surveillance or Multi-layer Security Market Opportunities, and 20% see physical security as a key enhancement in 2020. As a result of these changes, the demand for Multi-layer Security Market Trends is increasing in the business sector.
By type, the market is segmented into proactive security, detective security, and reactive security.
By the component, the market is bifurcated into solutions and services. The solution segment is further divided into endpoint protection, DNS protection, enterprise security, web protection, cloud security, email protection, DLP protection, and others. Whereas, the service segment is bifurcated into professional services and managed services.
By deployment, the market is bifurcated into the cloud, and on-premise deployment.
By end-user, the market is segmented into BFSI, military & defense, IT & telecommunication, government, media & entertainment, healthcare, and others.
By region, the market is bifurcated into North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
The global market for multi-layer security is estimated to grow at a significant rate during the Multi-layer Security Market Forecast. The geographical analysis of the multi-layer security market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). North America is expected to dominate the Multi-layer Security Market Trends during the forecast period owing to increased zero-day attacks, cyber breaches, and an increased need for efficient security solutions. Various end-use verticals across different domains are shifting their business and work operations to the cloud. Multi-level security thereby helps these enterprises to stop attacks at the network level, application-level as well as end-user level.
Europe is the second dominating region in the Multi-layer Security Market Analysis. Although Europe is a technically advanced and well-established region, most of the enterprises and industries are adopting traditional measures for achieving multi-layer security. On the other hand, Asia-Pacific is the fastest-growing region owing to the increased Multi-layer Security Industry Opportunities and investment in technology by the government in these countries, and rapid urbanization. Various government initiatives let multi-national companies set up their branches and facilities in Asia leading to digitization.
The key players in the market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – SolarWinds MSP (Scotland), Gemalto NV (France), Blue Solutions Limited (England), Oracle Corporation (US), Symantec Corporation (US), McAfee LLC (US), F5 Networks Inc. (US), Fortinet Inc. (US), AT&T Inc. (US), and Cisco Systems Inc. (US).
These market players contribute a major share in the growth of the multi-layer security market. Keeping aside the top key players, other players also contribute to the market growth. These include Ingenico Group (France), HP Development Company LP (US), Hitachi Ltd (Japan), IBM Corporation (US), Microsoft Corporation (US), Adept4 Ltd(UK), Raytheon (US), Heimdal Security (Denmark), Bayshore Networks (US), SNC-Lavalin (Canada), Magal Security Systems Ltd (Israel), master (US), Apogee IT Services (US), Compugen Inc. (US), Webroot Inc. (US), Novosco Ltd. (Ireland), On-Site Technology (US), Tata Communications Ltd. (India), Nucleus Networks Inc. (Canada), InterVision Systems (US), and others.
The report's goal is to provide a thorough overview of the global multi layer security market, taking into account all industry stakeholders. The report includes an analysis of complicated data in simple language, as well as the industry's past and current state, as well as anticipated market size and trends. The research examines all areas of the industry, with a focus on significant companies such as market leaders, followers, and newcomers. The research also assists in comprehending the dynamics and structure of the Multi-layer Security Industry by evaluating market segments and forecasting the Market. The report's relevance is enhanced by a clear depiction of competition analysis of key competitors in the market by type, component, deployment, end-user, and regional presence.
Frequently Asked Questions (FAQ) :
The expected CAGR for the Multi-layer Security Market is 7.38% during the forecast period.
The Asia-Pacific (APAC) region is expected to have the fastest growth in Multi-layer Security Market during the forecast period.
The major key players for the Multi-layer Security Market are SolarWinds MSP (Scotland), Gemalto NV (France), Blue Solutions Limited (England), Oracle Corporation (US), Fortinet Inc. (US), AT&T Inc. (US), McAfee LLC (US), F5 Networks Inc. (US), and Cisco Systems Inc. (US). some other players are Ingenico Group (France), HP Development Company LP (US), Hitachi Ltd (Japan), IBM Corporation (US), Microsoft Corporation (US), Adept4 Ltd(UK), Raytheon (US), Heimdal Security (Denmark), Symantec Corporation (US), Bayshore Networks (US), SNC-Lavalin (Canada), Magal Security Systems Ltd (Israel), master (US), Apogee IT Services (US), Compugen Inc. (US), Webroot Inc. (US), Novosco Ltd. (Ireland), On-Site Technology (US), Tata Communications Ltd. (India), Nucleus Networks Inc. (Canada), InterVision Systems (US), etc.