Network Security Market Size - By Type (Firewall, Intrusion Detection & Prevention System, Network Access Control, Data Loss Prevention, Virtual Private Network), Deployment Model (On-premises, Cloud), Organization Size, End User & Global Forecast, 2023 - 2032
Published Date: March - 2025 | Publisher: MIR | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationNetwork Security Market Size
Network Security Market size was USD 19.5 billion in 2022 and is expected to record a CAGR of over 12% during the forecast period of 2023 to 2032. The increase in cyberattacks is driving the market. With the growing incidence and sophistication of cyberattacks, organizations are focusing on enhancing their defenses as an uppermost priority. The rising threat environment has fueled investments in next-generation security products, such as firewalls, intrusion detection systems, and endpoint protection. This growth is fueling demand for new technologies and services to counter the evolving threats.
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For example, in September 2023, a phishing ransomware attack was launched by cybercriminals against the Kuwait Ministry of Finance. The specific attack was designed to steal and encrypt sensitive information, using phishing techniques to demand payment in return for restoring access to the encrypted data.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Network Security Market Size in 2022 | USD 19.5 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 12% |
| 2032 Value Projection | USD 61.1 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 250 |
| Tables, Charts & Figures | 340 |
| Segments covered | Type, Deployment Model, Organization Size, and End-user |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
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The advent of strong data protection and privacy laws makes companies focus more on network security. Adhering to such laws requires stricter data protection controls, driving the need for holistic security solutions. The Indian government launched the Digital Data Protection Act 2023 in August, a holistic piece of legislation intended to protect individual and sensitive digital data. It sets the standards for collecting, processing, and storing data, all while maintaining user privacy and imposing strict regulations on the organizations that work with data. The act calls for transparency, user consent, and security protocols, making organizations responsible for protecting data and penalizing non-compliance.
The intricacy of security solutions proves to be hurdles in the market for network security. The sheer variety of different security tools each with its user interface and characteristics complicates the integration and control. Interference between various solutions prevents smooth functions. The requirements of specialized professional skills to handle and set these varied systems present an additional level of complexity. Streamlining and simplifying the solutions while addressing complete security interventions is a prominent challenge for the organizations in the network security front.
COVID-19 Impact
The impact of the COVID-19 pandemic was strong on the network security market as companies have experienced budget uncertainty and constraints. The pandemic impacted the supply of security hardware and software, such that companies found it difficult to update and maintain their security infrastructure. The pandemic also triggered a surge in cyberattacks, such as ransomware and malware that drive the demand for network security solution.
Network Security Market Trends
AI is a cutting-edge trend within the network security market, disrupting threat detection and response. Highly sophisticated AI algorithms scan enormous levels of network information, quickly finding anomalies and probable threats that traditional security may overlook. Machine learning models become progressively better over time, refining their capacity to foresee and prevent cyber attacks. AI-driven security solutions provide pre-emptive defense, dynamic response, and responsiveness to the changing threats, thus improving overall network security infrastructures' resilience. For example, in October 2023, Darktrace launched an AI-driven cloud security solution, which can automatically solve 99% of common breaches. This groundbreaking technology is aimed at transforming cloud security measures with the help of self-learning AI, efficiently discovering and countering threats.
Cloud computing is a new trend in the network security market, revolutionizing data storage and access. The trend has led to the creation of niche security solutions, including Cloud Access Security Brokers (CASBs) and cloud-native security solutions. These technologies are aimed at securing data, applications, and infrastructure in cloud environments, responding to the growing need for scalable and secure cloud security solutions.
Network Security Market Analysis
By deployment model, the cloud segment held a 30% market share in 2022, owing to the growing uptake of cloud services across industries. With more organizations shifting their activities to the cloud, the market for effective security solutions in the cloud is expanding. This trend is driven by the requirement for dedicated cloud security solutions, such as CASBs, cloud-native security solutions, and secure access technologies. The focus on securing data and applications in the cloud is driving the growth of the cloud security sector.
By organization size, the large enterprises segment accounted for more than 65% of the network security market share in 2022, driven by the fast-paced digital transformation and growing threat landscape. For example, in October 2023, Amazon Web Services stated that it would open AWS European Sovereign Cloud. The new cloud platform will lead the market with specialized security features, including improved data residency control, region-specific compliance, and custom security protocols to meet the strict requirements of European businesses and the public sector.
Larger organizations, with intricate networks and greater vulnerability to cyber threats, are spending heavily on end-to-end security solutions. Segment growth is being fuelled by the necessity of advanced & scalable security solutions such as advanced firewalls, intrusion detection systems, and threat intelligence platforms to help secure networks against the changing cyberthreats and possible vulnerabilities.
North America network security market share accounted for over 30% of revenue in 2022 due to the stringent data privacy laws, rising cyber attacks, and a high rate of adoption of advanced technologies. The strong cybersecurity infrastructure in the region and an active strategy by businesses to protect from emerging threats are fueling the need for advanced security solutions. Investments in technologies of the future, including AI-based security solutions and cloud security services, are contributing to the growth of the market in the region.
Network Security Market Share
The major companies operating in the network security industry are-
- IBM Corporation
- Microsoft Corporation
- Cisco Systems, Inc.
- Broadcom Inc.
- VMware
- Palo Alto Networks, Inc.
- Fortinet, Inc.
IBM Corporation and Microsoft Corporation dominate the network security industry due to their comprehensive cybersecurity solutions and extensive industry experience. IBM's expertise in threat intelligence, managed security services, and innovative technologies, coupled with Microsoft's robust cloud security offerings, Azure Sentinel, and extensive security integrations, solidify their positions.
Network Security Industry News
- In May 2023, Kyndryl launched managed Secure Access Service Edge (SASE) solution powered by Fortinet that aims to help customers enable advanced network security initiatives. The solution combines Fortinet’s cloud-delivered security and secure networking solutions with Kyndryl’s network and security services to design, build, and manage networking for customers across industries.
The network security market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
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Market, By Type
- Firewall
- Intrusion Detection & Prevention System
- Network Access Control
- Data Loss Prevention
- Virtual Private Network
- Others
Market, By Deployment Model
- On-Premises
- Cloud
Market, By Organization Size
- Large Organization
- Smes
Market, By End User
- IT & telecom
- BFSI
- Healthcare
- Manufacturing
- Government
- Retail & e-commerce
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Southeast Asia
- ANZ
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- UAE
- Saudi Arabia
- South Africa
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