Network Security Appliance Market Research Report - Global Forecast till 2030

Network Security Appliance Market Research Report, By Component (Product; Visibility, Analytics, and Management Software; and Services), Industry Vertical (BFSI, government, and defense, healthcare, retail, manufacturing) - Forecast till 2030

ID: MRFR/SEM/5589-HCR | November 2022 | Region: Global | 100 Pages         

Network Security Appliance Market

The network security appliance is expected to grow from USD 8.45 billion in 2018 to USD 6.13 billion by 2030, at a CAGR of 11.1% during the forecast period, 2020-2030.

Segmentation

Based On The Component visibility product services analytics and management software
Based On The Industry Vertical IT and telecom industry vertical into BFSI healthcare retail government and defense energy and utilities manufacturing others
Based On The Region Asia Pacific North America Europe the rest of the world

Key Players

  • Cisco Systems
  • Inc.
  • Palo Alto Networks
  • Inc.
  • Fortinet
  • Inc.
  • Check Point Software Technologies Ltd.
  • Symantec Corporation
  • Sophos Ltd.
  • Juniper Networks
  • Inc.
  • Forcepoint LLC
  • and Barracuda Networks
  • Inc

Drivers

  • The rising need to protect the network infrastructure of an enterprise from advanced threats. Need for faster performance of network security solutions.
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Network Security Appliance Market Size and Overview


Globally, the size of Network Security Appliance Market is set to grow at a CAGR of 11.1% from a value of USD 8.45 Billion in 2018 to hit USD 6.13 Billion by 2030 driven by the growth of network security appliances including the need to protect the network infrastructure of an enterprise from all these threatened and advanced hackers.


The network security appliance market is integrated with visibility analytics and management software components. It enables enterprises to manage their security appliances. Due to its security management, the Network Security Appliance Market is popular among the industrial verticals, especially those dealing with a huge amount of industrial data.


The network security appliance always keeps updated the security solutions and makes it ready for future threats. The rise of security breaches, cyber-attacks and threats is raising the market's demand.


The awareness and concern for network infrastructure protection in large and small enterprises are chiefly driving the market's growth. The threats from advanced hackers and the possibility of a security breach boost the demand for network security. Additionally, the need for faster and more reliable performance of network security solutions is bringing up vast opportunities. The increased adoption rate in industry verticals and business sectors is enhancing the market performance, further accelerating its revenue. IT infrastructures are mostly prone to cybercrimes which need network security appliances installation. Therefore these factors will let the market reach its estimated valuation in the forecasted period.


Covid 19 Analysis:


As for the current situation of coronavirus, a lot of companies have experienced negative downfalls in the first quarter of the pandemic. The key reason being the work style of employees which turned out to increase in the form of work from home settings. This is why I encourage employees to implement the use of network security services to enhance the growth of the market.


Globally, the network security appliance is expected to grow from USD 8.45 billion in 2018 to USD 13.97 billion by 2030, at a CAGR of 10.6% during the forecast period, 2020-2030.


Market Dynamics:



  • Drivers:


Some of the major factors that drive the growth of network security appliances include the need to protect the network infrastructure of an enterprise from all these threatened and advanced hackers. In Addition to this, there is a need for faster performance of network security solutions. Other factors include adoption in almost all industry verticals as businesses of all types need network layers in the most critical form. IT infrastructures where cybercriminals mostly conduct a tax need network security appliances to be installed.



  • Opportunities:


The opportunities that expanded the network security appliance market are the growing business worldwide which is becoming smaller with digital networks. The upcoming cyber threats have become a concern and hence need an in-depth study for user awareness. In addition to this, the pandemic proved out to enhance the market growth with work-from-home facilities. As work from home framed out as the only setting to work, network security became important. This is how opportunities expand and the market grows.



  • Restraints:


The factors that hamper the growth of the network security appliance market, involve budget constraints in the enterprises. These constraints are made basically to spend sufficient on cybersecurity solutions, these factors are expected to hinder the growth of the market. Other factors include white adoption of network security appliances globally, adoption of the software version of cybersecurity solutions particularly cloud-based



  • Value Chain Analysis:


Network security appliances do not just offer advanced security that can help protect your latest databases and software applications as well as programs. But network security appliances use the latest threat intelligence to apply analytics and send boxing technologies to identify the noble threats and prevent them from making any harm to the enterprise digital assets.


Network Security Appliance Market Segmentation:


The global market of network security appliance is segmented based on the industry verticals, components, and regions. Given below is the market segmentation.


Based On The Component:


Based on components, the market is segmented into visibility, product, services, and analytics and management software. The product segment covers the study of next-generation fireballs and unified third management, firewalls, inclusion detection systems, and intrusion prevention systems, distributed denial of service protection, send boxing, and web security.


The segment of services is bifurcated into professional and managed services. The professional segment covers and listens and data over consulting services, system integration services, support and maintenance services as well as training and educational services.


Based On The Industry Vertical:


The global network security appliance market is classified based on the IT and telecom, industry vertical into BFSI, healthcare, retail, government and defense, energy and utilities, manufacturing, and others.


Based On The Region:


The division is based on region segments into the Asia Pacific, North America, Europe, and the rest of the world.


Network Security Appliance Market Regional Analysis:


The global network security market is divided based on region into Asia Pacific, North America, Europe, and the rest of the world. An estimated data reveals North America to show the largest contribution in the network security appliance market. North America holds the largest market size due to advancement in infrastructure, technology, and cybersecurity solutions adoption. These contributions enhance the presence of major vendors and faster adoption of new network security solutions. North America, specifically the US shows domination in the network security appliance market during the forecasted period.


The region of Asia Pacific is estimated to show the fastest rate of growth during the forecasted period. Due to IT and telecom sector advancement, economic and technological development of countries such as China, Japan, and India. All these factors are thought to enhance the night book security appliance market in the Asia Pacific.


Competitive Landscape:


The prominent key players of the network security appliance market in the global market are mentioned down below-



  • Cisco Systems, Inc.

  • Palo Alto Networks, Inc.

  • Fortinet Inc.

  • Check Point Software Technologies Ltd.

  • Symantec Corporation

  • Sophos Ltd.,

  • Juniper Networks Inc.

  • Forcepoint LLC

  • Barracuda Networks, Inc.


All these prominent key players play a major road in the dynamics and growth of the network security appliance market. These major key players opt for many strategies and policies to widen their customer base. These policies and strategies mainly include collaborations, mergers, acquisitions, extensions, joint ventures, establishments, new production processes, innovations, technology widening the existing products, partnerships, etc. All these important methods are opted to get the needs of customers and develop a strong potential growth base. These major key players contribute a major amount to the sugar frequency and are very helpful in developing innovations to improve the market.


Recent Developments


April 2022


 A secured computing solutions provider, HUB Security, has partnered with TestArmy, a testing and cyber security leader. It will offer HUB Security's D.Storm- Advanced DDoS Simulation Platform. Their partnership will encourage current offerings and reach ransomware resilience in the central European market. TestArmy Group is the fastest-growing testing company in Central Europe. It is specialized in quality assurance and cyber security of digital products.


April 2022


Fortinet and Cato Networks have innovated their respective cloud-based security platforms. Their upgradation will increase the protection for traffic flow from distributed software-defined WANs. Fortinet has updated its FortiOS operating system that supports the Fortinet Security Fabric. It offers security services across all points in a network in real-time mode. Cato has added risk-based application access control to its SASE portfolio.


Report Overview:


As per the research report of the network security appliance is expected to grow from USD 8.45 billion in 2018 to USD 13.97 billion by 2023, at a CAGR of 10.6% during the forecast period, 2018–2013.


The global network security appliance market in the global market research report consists of the following elements which are mentioned down below-



  • Market overview

  • Covid 19 analysis

  • Market dynamics

  • Value chain analysis

  • Market segmentation

  • Regional analysis

  • Competitive landscape

  • Recent developments

  • Intended audience


In the global network security appliance market research report, there are major factors that drive the growth of the market. The report consists of opportunities that may further in the future and hands the global market of the network security appliance. Various factors restrain the growth of sugar-free confectioneries and hamper the development of such a fine-based market. Disney search report also consists of videos analysis based on Covid 19 impact market dynamics, different segmentations, regional analysis, etc. This research report also consists of various strategies and policies followed by the major key players that drive the network security appliance market. The future growth rate is also discussed and mentioned in this research report.


Intended Audience:


Given below is the intended audience for the global network security appliance market .



  • Cybersecurity vendors

  • Software solution providers

  • Network Solution Providers

  • IT Administrators

  • Cloud Service Providers

  • Research institutions, government, and financial and investment communities

  • Distributors and Value-added Resellers (VARs)

  • Independent Software Vendors (ISVs)

  • Analytics solution providers

  • System Integrators

  • Enterprises



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 6.13 Billion
  CAGR   11.1%
  Base Year   2019
  Forecast Period   2020-2030
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Component, Industry Vertical
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Cisco Systems, Inc., Palo Alto Networks, Inc., Fortinet, Inc., Check Point Software Technologies Ltd., Symantec Corporation, Sophos Ltd., Juniper Networks, Inc., Forcepoint LLC, and Barracuda Networks, Inc
  Key Market Opportunities   Heightening cyber-crime, implementation of bring-your-own-device, and adoption of advance in technology will add new opportunities.
  Key Market Drivers

  • The rising need to protect the network infrastructure of an enterprise from advanced threats.
  • Need for faster performance of network security solutions.


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    Frequently Asked Questions (FAQ) :

    The Global Network Security Appliance Market is set to grow at a CAGR of 11.1% from a value of USD 8.45 Billion in 2018 to hit USD 6.13 Billion by 2030

    A few major market players operating in the global network security appliance market are Cisco Systems, Inc., Fortinet, Inc., Palo Alto Networks, Inc., Symantec Corporation, Check Point Software Technologies Ltd., and others.

    The global market for network security appliance is expected to witness major applications from the BFSI segment.