NETWORK ACCESS CONTROL MARKET ANALYSIS
Network Access Control Market, By Type (Hardware, Software, and Services), By Deployment Type (On-Premises and Cloud), By End-use Industry (Banking and Financial Services, Healthcare & Life Sciences, Government, Education, IT & Telecom, and Other), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
Press Release : Network Access Control Market
Network access control (NAC) is an advanced security solution that provides security against unauthorized endpoint devices including laptops, smartphones, printers and others. Network access control (NAC) protects private networks from malicious software (malware) and secures network vulnerabilities. Furthermore, network access control recognizes users with their devices and their role in the network. Moreover, to increase network security and efficiency it can be integrated with the existing security platforms.
The global network access control market is expected to witness significant growth during the forecast period (2020–2027). The growth of the network access control market is majorly attributed to a wide number of advantages offered by network access control to users. For instance, in NAC, the end user requires multi factor authentication which is a far more secure method than identifying user with IP or username and password combination method.
The major factor restraining growth of the global network access control market is high cost of implementation. Enterprises are adopting NAC solution due to its benefits, however, implementation of NAC solutions is time and money consuming. For instance, according to Coherent Market Insights analysis, NAC solutions cost around US$ 10,000 - 1000,000 depending on the requirement and company size (number of end user devices). Additionally, the company needs to provide supporting infrastructure such as IT department, network administration & security, and others. All these factors require time and money.
Global Network Access Control Market: Impact of Coronavirus (Covid-19) Pandemic
According to the International Monetary Fund Analysis, the global economy is expected to shrink by 3% in 2020 compared to 2019. Companies across the globe are struggling to sustain their businesses. Companies have started providing work from home option to employees. Network access control helps companies implement policies for controlling devices and user access to their networks. Network access control helps set policies for role, device, resource and location-based access and enforce security compliance. Hence, remote working trend is expected to fuel demand of Network access control solutions over the forecast period. However, implementation of network access solutions is money and time consuming. For instance, according to the Coherent Market Insights analysis, NAC solution requires 2-5 months implementation period after deployment of the solution. Thus, to reduce the financial strain some companies are likely to postpone its installation.
North America is expected to hold dominant position in the global network access control market during the forecast period.
Statistics:
North America held dominant position in the global network access control market in 2019, accounting for 43.7% share in terms of value, followed by Asia Pacific and Europe.
Figure 1: Global Network Access Control Market Share (%), By Region, 2019
North America held dominant position in the global network access control market in 2019 and is projected to retain its dominance throughout the forecast period, owing to a large number of market key players in the market such as Cisco Systems Inc, ForeScout Technologies Inc., Trustwave Holdings Inc., Bradford Network Inc., Pulse Secure LLC, and others. Furthermore, North America has also witnessed growth in the data center market which is expected to drive growth of the network access control market during the forecast period. For instance, in March 2019, Cyxtera Technologies, a U.S. based technology company, announced expansion of its data center facility in the Silicon Valley, Phoenix, Atlanta, New York Metro and Toronto, to provide better service and increase the company’s market presence in the North America region.
Major players operating in the global network access control market are Auconet, Inc., Avaya, Inc., Bradford Networks, Cisco Systems, Inc., Extreme Networks, Inc., Forescout Technologies, Inc., Hewlett Packard Enterprise Development LP, Impulse Point, Key Innovator, Portnox, and Pulse Secure, LLC.
The increasing adoption of NAC solutions in the BFSI industry is expected to drive growth of the network access control market during the forecast period.
Among end-use industry, the BFSI industry segment is expected to hold dominant position in the global network access control market during the forecast period owing to the increasing safety concerns in the banking sector as banks witness high amount of traffic from employees, third party personnel such as customers, consultants, partners, and others. The bank needs to provide data keeping safety as priority. Thus, the increasing adoption of online banking is expected to facilitate demand of network access solution in the banking sector. According to the Coherent Market Insights analysis, the global online banking market is expected to register a CAGR of 19.2% during 2020-27.
Figure 2: Global Network Access Control Market Value (US$ Bn), 2017 - 2027
The global network access control market was valued at US$ 8.32 Bn in 2019 and is expected to reach US$ 15.59 Bn by 2027 at a CAGR of 8.2% between 2020 and 2027.
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