NEW YORK, Sept. 3, 2023 /PRNewswire/ — The global network security software market size is estimated to grow by USD 17.51 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 11.14% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 33%. The regional market growth can be attributed to factors such as the frequency and level of sophistication of cyber threats and the increasing shift towards digital transformation across numerous businesses and industries prioritizing the security of their sensitive data and vital infrastructure. Hence, such factors drive the regional market growth during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report
Network Security Software Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on Component (Solution and Service), Deployment (Cloud and On-premises), and Geography (North America, APAC, Europe, Middle East and Africa, and South America).
- The solution segment will be significant during the forecast period. Businesses want to resist the increasing number of cyber threats. Thus, there is a growing demand for comprehensive and cutting-edge security solutions. The demand for network security software is significantly rising with the adoption of technologies. Technologies like IoT play an important role in protecting digital assets and guaranteeing network integrity. Hence, such factors drive the growth of the segment during the forecast period.
Insights on the market contribution of various segments including country and region, historic market data (2017 to 2021), and forecast market size (2023 to 2027) – Download a Sample Report
Network Security Software Market – Market Dynamics
Key factor driving market growth
- The rising frequency and sophistication of cyberattacks drive the growth of the network security software market.
- In order to protect their networks from growing cyber threats, global organizations focus on increasing awareness of the need for strong network security measures.
- To cater to the demand, vendors as well as manufacturers invest in cutting-edge network security software solutions.
- Hence, such growing demand for cybersecurity by organizations boosts the demand for network security software market during the forecast period.
Major challenges hindering the market growth
- Balancing security and user experience challenges the growth of the network security software market.
- User requirements, business procedures, and potential security concerns must be balanced. It is important to have strong security measures in order to protect against online threats.
- These measures are excessively restrictive or complicated regulations that can impede the alienation and productivity of individuals.
- Also, to balance factors such as user requirements, business procedures, and potential security concerns must be considered and understood.
- Hence, factors such as balancing security and user experience is a challenge that can hinder market growth focus during the forecast period.
Insights on Market Drivers, Trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!
What are the key data covered in this Network Security Software Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the network security software market between 2023 and 2027
- Precise estimation of the size of the network security software market and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the network security software market across North America, APAC, Europe, Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of network security software market vendors
Gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform
Related Reports:
The SMB software market is estimated to grow at a CAGR of 7.41% between 2022 and 2027. The size of the market is forecast to increase by USD 57.76 billion. This report extensively covers market segmentation by deployment (on-premise and cloud), application (media, telecommunication, consultants, and law firms), and geography(North America, Europe, APAC, South America, and Middle East and Africa). The growing demand for cloud-based applications is notably driving the SMB software market.
The procurement software market size is estimated to grow at a CAGR of 10.2% between 2022 and 2027. The procurement software market size is forecast to increase by USD 4,903.04 million. This procurement software market report extensively covers market segmentation by deployment (cloud and on-premises), end-user (retail and e-commerce, healthcare and pharmaceuticals, manufacturing and automotive, IT and telecom, BFSI, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The improvements in business efficiency are notably driving the market growth.
|
Network Security Software Market Scope |
|
|
Report Coverage |
Details |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 11.14% |
|
Market growth 2023-2027 |
USD 17.51 billion |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023 (%) |
10.33 |
|
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
|
Performing market contribution |
North America at 33% |
|
Key countries |
US, China, Japan, UK, and France, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
AO Kaspersky Lab, AT and T Inc., Avast Software sro, Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., FireMon LLC, Fortinet Inc., GFI USA Inc., International Business Machines Corp., Juniper Networks Inc., McAfee LLC, Musarubra US LLC, Open Text Corp., Palo Alto Networks Inc., Qualys Inc., SOFTWIN SRL, SolarWinds Corp., Trend Micro Inc., and WatchGuard Technologies Inc. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download multimedia:https://www.prnewswire.com/news-releases/network-security-software-market-size-is-set-to-grow-by-usd-17-51-billion-from-2022-to-2027–north-america-to-contribute-33-of-the-market-growth—technavio-301915552.html
SOURCE Technavio
