Network Security Appliance Market Expected to Showcase Extensive Growth at a CAGR of 7.82% with Growth Drivers, Upcoming Trends, Strategies, Segmentation Application and Forecast 2023
A new market study, titled “Network Security Appliance Market” has been featured on Market Research Future which is expected to reach a valuation of USD12.69 Billion with a CAGR of 7.82% during the forecast period (2018–2023).
Top Impacting Factors
MRFR identifies that rising cyber-attacks and cybercrimes, mounting vulnerabilities in SS7 are the substantial drivers that help in swelling the growth of the network security appliance market. The study also focuses on the fact that certain factors such as heightening cyber-crime, implementation of bring-your-own-device, and adoption of advance in technology will add new opportunities for this market in the coming years.
In fact, cloud computing is also being widely implemented owing to its powerful and flexible infrastructure possibility. Several organizations are moving to the cloud to streamline the storage of data, as cloud provides remote server access on the Internet, which by advance, facilitates access to infinite computing power. Besides, the adoption of the cloud enables organizations to combine supplementary infrastructure technologies such as software-defined perimeters to create robust and highly secure platforms, thus bolstering the market to a great extent.
Industry Players
The well-known players in network security appliance market are listed as Palo Alto Networks, Inc., Cisco Systems, Inc., Check Point Software Technologies Ltd., Fortinet, Inc., Sophos Ltd., Symantec Corporation, Forcepoint LLC, Juniper Networks, Inc., and Barracuda Networks, Inc.
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Segmentation of Market
The global network security appliance market has been further segmented among components, industry, and verticals.
In terms of component segment, the market has included visibility, product, analytics, and management software and services. The products segment is the unified threat management (UTM), next-generation firewalls (NGFWs), intrusion detection system (IDS), firewalls, and intrusion prevention system (IPS), sandboxing, distributed denial of service (DDoS) protection, and web security. The services segment is further bifurcated among professional and managed services.
In terms of industry vertical segment, the market has included government and defense, BFSI, healthcare, IT and telecom, energy and utilities, retail, manufacturing, and others.
Regional Analysis
The geographical breakdown of the global network security appliance market is studied for the main regions of Europe, North America, Asia-Pacific, and the rest of the world.
The market in the North America region is anticipated to be the most significant contributor in the network security appliance market in the assessment period. North America region is the most advanced region in terms of infrastructure, technology, and cybersecurity solutions adoption. The incidence of significant vendors and faster adoption of new network security solutions such as NGFW and DDoS protection motivates the network security appliance market in the North America region.
The market in the Asia-Pacific region is likely to expand at the fastest rate during the assessment period. IT & telecom sector motivates the network security appliance market in the Asia-Pacific region. Asia-pacific is a financially and technologically developed region with countries such as China, Japan, and India.
Major Highlights of TOC Covers:
1. Executive Summary
2. Key Business Trends
3. Regional Trends and Growth
4. Product Trends
5. End-use Trends
6. Definition and Forecast Parameters
7. Network security appliance Market Segmentation
8. Network security appliance Market Landscape
9. Vendor Matrix
10. Company Profiles
11. Business Overview
12. Financial Data
13. Product Landscape
14. Strategic Outlook
More…
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