The network security policy management market is worth US$ 1.9 Billion in 2022 and is estimated to grow at 6.7% CAGR to record a value of US$ 3.6 Billion by 2032.
Network security policy administration is a critical component. The increasing volume of online transactions and activities needs greater network security. Network security not only preserves data but also protects against online threats. The adoption of digital payments is exploding. A great deal of sensitive information is at stake. Through online payments, the user’s card number, bank data, and personal information are exposed; hence there is a need for the adoption of network security policy management.
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The network security policy management market has faced several hurdles as a result of the COVID 19 epidemic. Due to the pandemic, the market dynamics for network security policy management are shifting. During the epidemic, the number of users working from home is increasing. The ICT industry’s need is always increasing. As more employees use home computers for work, the demand for network security is growing.
The increase in the number of digital transactions is increasing the requirement for network security. The network security policy management market is now unable to fulfil demand. The network security policy management market is assumed to resume normal activities after Covid 19. The adoption of network security management in the company is a key market driver. Many businesses are assumed to increase their market investments in the next years. The greatest option for organisations to prevent sophisticated cyber-attacks is network security policy management. Many organisations must adhere to network security policies.
As a result, more businesses are entering the network security solution industry. These drivers, according to the network security policy management market Analysis, are assumed to deliver more profitability. More growth possibilities are anticipated to be created for the network security policy management market as technology advances. There are constantly new advances in network security management technologies. The important players’ investment in development is larger. Due to these improvements, network security is expected to be able to deliver solutions for improved cyber security. The government is more supportive of the technology. Governments in several places push businesses to embrace this technology.
Government regulations governing business network security are expected to become much more rigorous. All of these reasons are expected to provide amazing development opportunities for the network security policy management market. The high demand is due to the early adoption of network security. These businesses demand advanced cyber-threat security. The region has a higher investment rate and is noted for its large-scale industries.
Key Takeaways:
- In the component sector, services from the network security policy management market are anticipated to flourish at the quickest CAGR of 9.0% through 2032.
- With a CAGR of 7.4%, Banking, Financial Services and Insurance (BFSI) are predicted to grow significantly in the end use sector of the network security policy management market.
- The market size for network security policy management market in the United States is expected to reach US$ 1166.1 Million by 2032, growing at a CAGR of 6.5% during the forecast period.
- United Kingdom is expected to reach a market size of US$ 304.6 Million in Network security policy management by 2032, with a CAGR of 7.2% during the forecast period.
- China’s Network security policy management market is expected to be worth US$ 391.9 Million by 2032, with a CAGR of 8.8% over the forecast period.
- Japan is expected to have a market size for Network security policy management of US$ 102.3 Million by 2032, with a CAGR of 4.9% during the forecast period.
- By 2032, India is expected to reach a market size of US$ 204.1 Million in network security policy management, with a CAGR of 6.5% during the forecast period.
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Competitive Landscape:
The major network security policy management market players are AlgoSec, Check Point Software Technologies Ltd., FireMon, LLC, ForcePoint, HPE Development LP, IBM Corporation, Juniper Networks, Inc., Palo Alto Networks, Inc., Sophos Technologies Pvt. Ltd., and Tufin.
Micro Focus released AD Bridge 1.0 in June 2019. This product enables customers to better manage and secure Linux resources by leveraging their existing investment in Active Directory.
Key Segments:
By Component:
- Software
- Cloud-Based
- On-Premise
- Services
- Professional Services
- Managed Services
By Solution:
- Security Policy Management
- Change Management System
- Risk and Vulnerability Analysis
- Application Connectivity Management
By End-use:
- Banking
- Financial Services and Insurance (BFSI)
- Healthcare, Government
- IT & Telecom, Retail, Transportation
- Energy & Utilities
- Others
By Enterprise Size:
- Small & Medium Enterprises (SMEs)
- Large Enterprises
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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