Network Security Policy Management Market Overview
Global Network Security Policy Management Market Size was valued at USD 17.2 Billion in 2022. The network security policy management market industry is projected to grow from USD 18.61 Billion in 2023 to USD 34.96 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.20% during the forecast period (2023 - 2032). The rise in cyberattacks globally, the rising demand for efficient security & risk management tools, and the rising concern about data security are the major market drivers for the growth of the global network security policy management market. Additionally, it is projected that many companies would boost their network security policy management market investments in the years to come, and this is thought to be a significant industry trend.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Network Security Policy Management Market Trends
Increased cyber threats at network nodes will accelerate market growth
Global technical advancement has increased the use of digital solutions, networked gadgets, and IT systems. Exchange of business applications and data among digital users, devices, and platforms is made possible by the growth of the digital infrastructure. As a result, hackers are increasingly adopting perfect hacking methods to access an organization's IT system and steal crucial business data. Further investigation revealed that the business sector had extremely weak defences against attackers. A Kaspersky Lab study also revealed that more than 40% of organisations lacked a strong cybersecurity architecture. According to the report, online applications with vulnerabilities were penetrated in roughly 73% of successful perimeter breaches in the corporate sector. However, it is predicted that the increase in cyber threats will fuel the demand for solutions and accelerate market CAGR.
The adoption of network security policy management is necessary because of the large shift in organizational priorities towards digital trends in the modern world and the growing reliance of organisations and their activities on digital technologies for a variety of purposes, including data storage and online business operations. To run their operations, businesses invest in the Internet of Things (IoT). Smartphones, smart homes, smart cars, and cloud services are becoming more widely used, which gives cybercriminals a lot of opportunities. To tackle this problem in the contemporary digital world, it is essential to strengthen the network security of enterprises, public areas, and private and public assets. As a result of such problems, numerous organisations have raised their security budgets and spending levels. In order to secure the security of their digital infrastructure, organisations and companies are increasing their security spending. This suggests that the industry for global network security policy management has room for further expansion.
In order to decrease system investments, businesses are encouraging employees to use their own devices while at work. Employees can work remotely thanks to BYOD. Given that they are connected to the company's network, the devices can access the data. Furthermore, businesses are now providing network security policy management in response to the expanding BYOD policy. The employer exchanges data with many vendors, for instance, in logistics. Data leaks are now more likely as a result of this issue, which emphasizes the significance of the network security policy management market's expansion. During the anticipated period, it is anticipated that increasing BYOD policies in businesses will fuel network security policy management market revenue.
Network Security Policy Management Market Segment Insights
Network Security Policy Management Components Insights
The global network security policy management market segmentation, based on components includes Solution and Services. The solution segment dominated the market. The chance of data loss, theft, and damage is decreased with a strong network security policy management. The introduction of virtualization technology and the growth of web-based applications are two factors that support the development of the market for network security policy management. Enterprise communications are safeguarded by network security from unauthorized access and data exploitation.
Network Security Policy Management Organization Size Insights
The global network security policy management market segmentation, based on organization size, includes Medium size enterprise and Large scale enterprise. The medium size enterprise category generated the most income. Medium-sized enterprise have lower budgets for security analyses, demonstrating the need for all-encompassing security solutions to monitor system architecture and fend off significant attacks. The market for network security policy management is growing as a result of increased cyber risks at the network edge and BYOD (bring your own device) policies.
Network Security Policy Management Product Type Insights
The global network security policy management market segmentation, based on product type includes Change Management, Network Compliance Policy, Vulnerability Assessment and Network Policy Management. The network policy management segment dominated the market due to an increase in networking and cross-industry connections. The rise of hackers in recent years has made network policy management more crucial. Network security policy management market services are essential for security upkeep and service upgrades, bolstering defense, and preventing cyberattacks.
Figure 1: Global Network Security Policy Management Market, by Product Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Network Security Policy Management End-User Insights
The global network security policy management market segmentation, based on end-user includes IT and Telecom, Energy and utilities, Retail, Manufacturing and Healthcare. The IT and telecom segment dominated the market. Cyber communication security is the detection, analysis, and mitigation of potential cyber threats in the telecommunications industry using tools and processes. Sensitive data makes the telecom industry more susceptible than ever to security dangers and assaults. The majority of these companies maintain sensitive infrastructure that tracks the addresses and financial data of their customers.
Network Security Policy Management Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American network security policy management market area will dominate this market because there is such a significant need for network security solutions. Significant variables influencing regional growth include rising cyberthreats, high cloud computing penetration rates, and the expanding BYOD trend. Furthermore, the market will expand due to the presence of various IT firms offering modern network security solutions management.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: GLOBAL NETWORK SECURITY POLICY MANAGEMENT MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe network security policy management market accounts for the second-largest market share due to rising urbanization, industrialization, greater per capita income, and investments in smart, efficient technology. Secure network solutions, professional cyber services, and information risk assessment and management are all services that the majority of firms in the UK provide. On the other hand, the German market is continually expanding. Further, the German network security policy management market held the largest market share, and the UK network security policy management market was the fastest growing market in the European region
The Asia-Pacific Network security policy management Market is expected to grow at the fastest CAGR from 2023 to 2032 due to growing government initiatives towards the digitalization of daily life and rising demand from developing countries like India and China, as well as other Southeast Asian countries, new opportunities for technology adoption across various sectors, including government & defence, banking & finance, among others, would subsequently boost industry expansion rate during the same period. Moreover, China’s network security policy management market held the largest market share, and the Indian network security policy management market was the fastest growing market in the Asia-Pacific region.
Network Security Policy Management Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the network security policy management market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, network security policy management industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global network security policy management industry to benefit clients and increase the market sector. In recent years, the network security policy management industry has offered some of the most significant advantages to market. Major players in the network security policy management market attempting to increase market demand by investing in research and development operations include Skybox, Security Enterprise, Integration OPAQ Networks, McAfee, Odyssey Consultants, Firemon AlgoSec, Juniper Networks and Check Point Software Technologies.
IT security solutions are offered by McAfee Corp, a division of Advent International Corp, to numerous industrial clients. It provides services for personal data cleanup, virtual private network security, identity monitoring, security freezing, protection score, identity theft coverage and restoration, free antivirus trial password manager, free antivirus trial, web protection, and parental controls. A seamless and comprehensive digital moat is created by including device security, online protection, privacy and secure Wi-Fi, and identity protection.
Odyssey is a leader in cybersecurity, assisting businesses all over the world in their quest to become cyber-resilient by developing a useful and practical cybersecurity strategy. Odyssey has been enabling customers to efficiently manage their digital risks across all operational parts of their organisation for more than 20 years, including People, Process, and Technology. Advisory Services (GRC), Integrated Solutions, Cloud Security, ClearSkiesTM Threat & Vulnerability Management Platform, and Managed Security / Detection & Response Services (MSDR) are the five pillars of Odyssey's comprehensive approach.
Key Companies in the network security policy management market include
Network Security Policy Management Industry Developments
March 2023: Cisco, a provider of cybersecurity and cloud solutions, intends to buy Valtix, a pioneer in the area of cloud network security, from Silicon Valley. Cisco's objectives in the area of multi-cloud network security and the benefit of having tools for monitoring traffic through business apps are two factors that led to the acquisition. The Valtix platform includes capabilities including application defence, secure deployment, and automated cloud application discovery.
January 2022: Trellix was introduced by Symphony Technology Group (STG), which offers businesses enhanced detection and response (XDR). Furthermore, the launch will speed up technological innovation through automation and machine learning.
June 2019: AD Bridge 1.0 was released by Micro Focus. Utilising their current Active Directory investments, customers of this product may manage and secure Linux resources more effectively.
Network Security Policy Management Market Segmentation
Network Security Policy Management Components Outlook (USD Billion, 2018-2032)
Network Security Policy Management Organisation Size Outlook (USD Billion, 2018-2032)
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Medium Size Enterprise
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Large Scale Enterprise
Network Security Policy Management Product Type Outlook (USD Billion, 2018-2032)
Network Security Policy Management End-User Outlook (USD Billion, 2018-2032)
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IT and Telecom
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Energy and Utilities
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Retail
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Manufacturing
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Healthcare
Network Security Policy Management Regional Outlook (USD Billion, 2018-2032)
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North America
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
Network Security Policy Management Market Highlights:
