The global network security market size was US$ 27.1 billion in 2021. The global network security market is forecast to grow to US$ 86.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 13.1% during the forecast period from 2022 to 2030.

Factors Influencing the Market

The creation and implementation of Network Access Control (NAC) is becoming more popular around the world. Its capabilities, including incident response, policy lifecycle management, guest networking access, and security posture access, are likely to benefit the global network security market.

The global network security market is forecast to gain traction, owing to the stringent government rules and regulations benefitting the global network security market.

The rising adoption of SaaS and Cloud-based security technologies will propel the global network security market forward.

The combination of advanced deep learning and machine learning capabilities will offer ample growth opportunities for the global network security market.

Growing demand for integrated security systems will benefit the global network security market.

The high costs and budget restrictions may restrict the market growth.

COVID-19 Impact Analysis

Due to the wake of the COVID-19 pandemic, the network security market has witnessed significant economic turmoil. However, digital technologies are playing a vital role in every industry. In addition, the growing demand for revamping remote working technologies is forecast to surge the market growth.

Due to lockdowns, several businesses need workers to work from home using the company's network. Excessive internet use during the coronavirus pandemic increased the demand for network security.

Regional Analysis

North America is forecast to hold the highest share of the global network security market. Moreover, Europe and Asia-Pacific are forecast to hold the second and the third-highest share, owing to the growing cases of data breaches. Network security software solutions are being adopted by companies in North America to detect and avert threats.

Competitors in the Market

Cisco Systems Incorporated
SolarWinds Incorporated
IBM Corporation
Trend Micro Incorporated
FireMon LLC
Symantec Corporation
FireEye Incorporated
GFI Software
Avast Software
WatchGuard
Bitdefender
Webroot Incorporated
Juniper Networks Incorporated
McAfee LLC
Motorola Solutions Incorporated
Other Prominent Players
Market Segmentation

Based on the component, the global network security market has been segmented into

Solutions
Firewall Security
Virus/Malware protection
Network Access Control (NAC)
Data Loss Prevention
Data encryption
URL and content filtering
IDS/IPS
Secure Web Gateways
DDoS Mitigation
Unified Threat Management
web application management
Advanced threat detection
Vulnerability Scanning and Management
Sandboxing
Others (Compliance Management, Uniform Resource Locator [URL] Filtering, Network, and Software Auditing)
Services
Professional
Design and Implementation
Consulting
Training and Education
Support and Maintenance
Managed Services
Based on the deployment model, the network security market has been segmented into

On-premises
Cloud
Based on the organization size, the network security market has been segmented into

Small and Medium-sized Enterprises (SMEs)
Large Enterprises
Based on the End-User Industry, the network security market has been segmented into

Aerospace and Defense
Government
Banking, Financial Services, And Insurance (BFSI)
Information Technology (IT) and Telecommunication
Healthcare
Retail
Manufacturing
Energy and Utilities
Others (ISP hosting, Media and Entertainment, and Transport and Logistics)
Based on the Region, the network security market has been segmented into

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America