The need for software is stimulated by the increase in Internet use and the number of companies in emerging countries. Another development is the use of BYOD services by end-use businesses, which require secure network connections. Businesses in industries such as healthcare and retail are also concerned about network security. As a result, these industries are implementing state-of-the-art security technology to improve security across all of their operational divisions.
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Major companies in the market are developing advanced network security products to strengthen their market positions. To protect small and medium-sized businesses against sophisticated cyberattacks, Check Point Software Technologies Ltd., for example, launched the comprehensive “Quantum Spark Series” of security gateways in February 2021. The Quantum Spark Series offers a variety of features, including automated threat prevention, automatic and flexible configuration of network connectivity, protection of teleworkers and cloud applications, and simple management of mobile applications. Large companies also offer a variety of security measures for network infrastructure. As an illustration, Kaspersky launched network protection using practical technologies (OT). Similar to Corsa, which offers Service Providers (SPs) and Managed Security Service Providers (MSSPs) (MSSPs).
During the COVID-19 pandemic outbreak, the majority of workers were connected to secure office networks. In the same way that on-premises facilities are more secure than cloud or remote networks, enterprises have embraced network security solutions. Moreover, during the pandemic, various industry rivals are focusing on expanding their global presence and market share through strategic partnerships and collaboration. For example, Cisco Systems, Inc. purchased Kenna Security, Inc. in May 2021. This acquisition gives the company a smaller attack surface and faster threat reaction times.
Read the market research report, Global network security market is segmented on the basis of type, industry, company size and deployment. Based on type, the market is further sub-segmented into Firewall, Antivirus/Antimalware, and SWG. Based on industry, the market is further sub-segmented into aerospace and defense, government, banking, financial services and insurance (BFSI). Based on Enterprise Size, the market is further sub-segmented into (Small & Medium Enterprises and Large Enterprises. Based on Deployment, the market is further sub-segmented into On-Premises & Cloud-Based and by Region – Forecast and Analysis 2022-2028″ by SkyQuest
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North America is expected to hold the majority of network security market share. Additionally, software usage is growing at the fastest rate in the United States. Major industries that widely use the program to protect sensitive data include healthcare, BFSI, and retail. Most patent applications have been filed for market protection in the United States, which also updates existing software and creates security solutions. This type of security should grow in popularity over time in Canada. The market is gradually rising and Europe is also growing. More than US$707.6 million has been invested in the region in network and information security research and innovation. Secure network solutions, professional e-services and information risk assessment and management are all services provided by the majority of businesses in the UK. On the other hand, the German market is constantly expanding.
During the forecast period, an increase is also expected for Asia-Pacific. China is growing in the sector and investing in the development of security software. The Chinese government further supports the daily use of the technology. As a result, there will be an increased need for secure networks, which will fuel the expansion of the market. Many governments are issuing regulations and security guidelines to stop data leaks. Due to increased spending in the Middle East and Africa, security solutions have started to gain traction. One of the committees that Saudi Arabia has invested in establishing to address security challenges is the Saudi Research and Innovation Network (SRINet), along with the SAFCSP. Latin American governments are developing a security infrastructure to thwart attacks and data breaches. Most companies in the region are focused on enforcing endpoint and network security laws.
However, due to the COVID-19 issue, companies around the world are now prioritizing e-learning and remote work platforms. According to Check Point Software Technologies Ltd., 80% of companies have implemented remote working for their staff, and 74% plan to do so indefinitely. As remote work becomes more commonplace, corporate networks have seen an increase in access requests. Due to the factor’s increased traffic levels, the volume of data encryption traffic entering the corporate network has increased. Therefore, the need for a smart grid solution is expected to increase. Many companies should use these security solutions more regularly even after the incident.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable revenue projections of the global Network Security market. The projections presented in the report have been derived using proven research methodologies and assumptions.
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● Drivers – Due to technological advancements in the world, the adoption of digital solutions, connected devices and IT systems is increasing. The growth of digital infrastructure enables users, platforms and devices to communicate enterprise applications and data.
● Restriction – Threats to their data and lack of effective data protection are issues that almost every business has to deal with. Despite this, companies continue to underinvest in network security measures. This software also requires ongoing maintenance and has a high initial setup cost, which should delay acceptance for a short time.
What does this report bring?
• Market estimate for more than 20 countries
• Global Network Security Market demand by region, sub-region and country
• Customization of segments, regions and business profiles
• More than 100 tables, more than 150 figures
• Global, regional and national network security market trends
• Complete mapping of network security market parameters
• Attractive investment proposition in the global network security market
• Competitive strategies adopted by leading players in the global network security market
• Drivers, Restraints, Opportunities, Challenges and Impact on Global Network Security Market Sizing
• Market growth rate until 2028
• Regulatory scenario, regional dynamics and global Network Security market insights of key countries in each region
• Detailed market information by region and country
• Analysis of market segmentation trends, opportunities and growth
• Porter’s five forces analysis to know the state of the market
• Analysis of prices and sales in the global network security market
• Parent market analysis
• Comparative analysis of the product portfolio
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SkyQuest has segmented the global network security market on the basis of components, security, solution, services, and region:
• Global Network Security Market Outlook by Component (Revenue, USD Million, 2021-2028)
• Global Network Security Market Outlook by Security Type (Revenue, USD Million, 2021-2028)
o Endpoint Security
o Cloud security
o Network security
o Application Security
o Infrastructure protection
o Data security
• Global Network Security Market by Solution Outlook (Revenue, Million US$, 2021-2028)
Unified Threat Management (UTM)
o Risk and compliance management
• Global Network Security Market by Outlook Services (Revenue, Million US$, 2021-2028)
o Professional Services
o Managed Services
• Global Network Security Market by Deployment Outlook (Revenue, USD Million, 2021-2028)
o On site
• Global Network Security Market Outlook by Organization Size (Revenue, USD Million, 2021-2028)
o Large Companies
• Global Network Security Market by Outlook Application (Revenue, Million US$, 2021-2028)
o IT & Telecom
• Global Network Security Market by Regional Outlook (Revenue, USD Million, 2021-2028)
o North America
• Great Britain
• Rest of Europe
• Rest of Asia-Pacific
o Latin America
• Rest of Latin America
o Middle East and Africa
Key players in the global network security market
• Check Point Software Technologies Ltd. (Israel)
• Cisco Systems, Inc. (USA)
• FireEye, Inc. (USA)
• Fortinet, Inc. (USA)
• Juniper Networks, Inc. (USA)
• Kaspersky Laboratory. (Russia)
• McAfee, LLC (USA)
• Palo Alto Networks, Inc. (USA)
• SonicWall.com (US)
• WatchGuard Technologies, Inc. (USA)
SkyQuest Technology Group is a global market intelligence, innovation management and commercialization organization that connects innovation to new markets, networks and collaborators to achieve the Sustainable Development Goals.
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