Global Network Security Policy Management (NPSM) Software Market Size By Component (Solutions, Services), By Deployment (On-premise, Cloud-based), By Organization Size (Small and medium-sized enterprises (SMEs), Large Enterprises), By Industry (Banking, Financial Services, and Insurance (BFSI)), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGlobal Network Security Policy Management (NPSM) Software Market Size By Component (Solutions, Services), By Deployment (On-premise, Cloud-based), By Organization Size (Small and medium-sized enterprises (SMEs), Large Enterprises), By Industry (Banking, Financial Services, and Insurance (BFSI)), By Geographic Scope And Forecast
Network Security Policy Management (NPSM) Software Market Size and Forecast
Network Security Policy Management (NPSM) Software Market size was valued at USD 1.2 billion in 2022 and is projected to reach USD 3.8 billion by 2030, growing at a CAGR of 11.2% from 2023-2030.
Major factors driving market expansion include the increasing complexity of network security regulations and the need for more effective compliance management. Organizations are using NPSM software to better their security posture and lower the risk of data loss in response to the rising number of cyber-attacks and data breaches. The need for NPSM software is being fueled in part by the rising popularity of cloud-based services and mobile devices. There is a rising demand for effective network security policy management solutions as more businesses shift their operations to the cloud and more workers work remotely. As a result of these and other important trends, the NPSM software market is anticipated to expand considerably between 2022 and 2030. As the need for better methods of managing network security policies grows, NPSM software is likely to evolve and improve.
Global Network Security Policy Management (NPSM) Software Market Definition
Software for managing and protecting an organization’s network security policy is known as Network Security Policy Management (NPSM). Software for network policy and configuration management (NPSM) aims to streamline the process of enforcing security measures across many firewalls, routers, and switches. The program offers an umbrella platform from which network security rules may be formulated, updated, and implemented throughout an organization’s whole network. Access control, intrusion detection, and data encryption are just some of the security features that may have rules applied to them. Enhanced compliance management is a major perk of NPSM software. The program may assist businesses to confirm that their network security rules adhere to PCI DSS, HIPAA, and GDPR requirements. This may aid businesses in avoiding the potential financial and reputational costs of noncompliance.
Organizations may get better insight into their network security policies with the help of NPSM software. As a result, they will be better able to anticipate and prepare for any security threats they may face. When it comes to the overall security and management of an organization’s network, NPSM software is crucial. The software may aid businesses in lowering the likelihood of data loss and cyberattacks by offering a unified framework for managing and enforcing security policies. There will be a dramatic increase in the need for NPSM programs in the coming years as businesses embrace cloud computing and flexible work arrangements.
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Global Network Security Policy Management (NPSM) Software Market Overview
The market for Network Security Policy Management (NPSM) software is expanding quickly, and in the next years, it’s worth is anticipated to rise sharply. The market is primarily driven by the rise in cyberattacks and the necessity for businesses to put in place strong network security procedures to safeguard their vital information and infrastructure. The market for NPSM software is also anticipated to increase as a result of the rising popularity of cloud-based services and the expanding trend of Bring Your Own Device (BYOD) rules in workplaces. The demand for centralized policy management across intricate and dispersed network settings is another element propelling the market. In order to ensure compliance with industry and regulatory requirements, the NPSM software assists organizations in managing and enforcing policies across various network devices and platforms. Additionally, the market is anticipated to increase as a result of the rising need for real-time network security analytics and reporting.
The market’s growth is anticipated to be constrained by the high cost of deploying and maintaining NPSM software solutions. For smaller organizations or those with tighter budgets, the expense of procuring and implementing the software, as well as the cost of hiring and training employees to administer it, can be a substantial hurdle. Organizations may also face difficulties due to the complexity of integrating NPSM software solutions with the current network infrastructure. Despite these obstacles, suppliers and service providers have a lot of potential in the market for NPSM software. Software-as-a-Service (SaaS) distribution methodologies and the rising popularity of cloud-based solutions present suppliers with chances to reach a larger consumer base with scalable, affordable solutions. Additionally, the expanding need for network security solutions in developing areas like Latin America and Asia Pacific offers potential for providers to build their businesses and take up more market share.
The deployment type, organization size, and end-user industry can all be used to segment the market for NPSM software. The market can be divided into on-premise and cloud-based solutions based on deployment type. Small and medium-sized firms (SMEs) and large enterprises can be used to segment the market based on organizational size. The market can be divided into healthcare, banking and finance, government, IT and telecom, and other end-user industries. The NPSM software market can be divided geographically into Latin America, the Middle East and Africa, North America, Europe, Asia Pacific, and the Asia Pacific. Due to the presence of major companies and the widespread adoption of cutting-edge network security solutions in the area, North America is predicted to dominate the market. However, due to the region’s increased usage of cloud-based services and the rise in cyberattacks, the Asia Pacific region is anticipated to have considerable growth during the projection period.
Global Network Security Policy Management (NPSM) Software Market Segmentation Analysis
The Global Network Security Policy Management (NPSM) Software Market is Segmented on the basis of Component, Deployment, Organization Size, Industry, And Geography.
Network Security Policy Management (NPSM) Software Market, By Component
- Solutions
- Services
Based on Component, the market is segmented into solutions and services. The solutions segment has a larger market share as it provides automated management of network security policies to ensure compliance with industry regulations and prevent security breaches.
Network Security Policy Management (NPSM) Software Market, By Deployment
- On-premise
- Cloud-based
Based on Deployment, the market is segmented into On-premise, Cloud-based. on-premises and cloud deployment. The cloud segment is growing rapidly due to its advantages such as scalability, flexibility, and cost-effectiveness.
Network Security Policy Management (NPSM) Software Market, By Organization Size
- Small and medium-sized enterprises (SMEs)
- Large enterprises
Based on Organization Size, the market is segmented into small and medium enterprises (SMEs) and large enterprises. The large enterprise segment has a larger market share as they have a higher budget for advanced security solutions and complex IT infrastructure.
Network Security Policy Management (NPSM) Software Market, By Industry
- Banking, Financial Services, and Insurance (BFSI)
- Health care
- Government and Defence
- IT and Telecom
- Retail and e-commerce
- Energy and utilities
- Others
Based on Industry, the market is segmented into Banking, Financial Services & Insurance (BFSI), Healthcare, Government & Defense, IT & Telecom, Retail & E-Commerce, Energy. and utilities and more. The BFSI segment, which deals with sensitive financial data and requires strict security measures to prevent cyber-attacks, has the largest market share.
Network Security Policy Management (NPSM) Software Market, By Geography
- North America
- Europe
- Asia and the Pacific
- Latin America
- Middle East and Africa
Based on Geography, the global network security policy management (NPSM) software market is segmented by region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America holds the largest market share due to the presence of major players in the market, increasing adoption of cloud solutions, and high number of cyber-attacks in the region.
Key Players
Key companies in the market for Network Security Policy Management (NPSM) software include Cisco Systems, Sophos, Palo Alto Networks, Skybox Security, and Palo Alto Networks.
These businesses provide NPSM software to assist businesses to streamline and control their network security settings. Market leaders like Tufin and AlgoSec provide end-to-end options for monitoring and securing networks and ensuring regulatory compliance. The well-known Cisco Systems and Palo Alto Networks both provide NPSM solutions to aid businesses in managing and enforcing their network-wide security rules.
Key Developments
- 2021 – Tufin acquired UP9, a provider of security automation, in January 2021 with the intention of bolstering its security policy management services.
- 2020 – The latest version of AlgoSec’s NPSM solution, AlgoSec 2020.1, was published in May 2020 with improved automation and visibility features.
- 2019 – FireMon, a provider of network policy and security management (NPSM) solutions, announced the availability of FireMon Automation in October 2019.
- 2018 – To better manage network security, Skybox Security bought Indegy, a cybersecurity analytics firm, in March 2018.
- 2017 – In February of 2017, Cisco Systems unveiled the availability of their network perimeter security management (NPSM) solution, Cisco Defence Orchestrator.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2019-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Period | 2019-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Cisco Systems, Sophos, Palo Alto Networks, Skybox Security, and Palo Alto Networks. |
| Segments Covered | By Component, By Deployment, By Organization Size, By Industry, And By Geography. |
| Customization Scope | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
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