The introduction of virtualization technologies and growing usage of web-based applications are some of the factors that are supporting Network Security market to grow. Network security helps enterprises in securing communication pathway from unauthorized access and data misuse. There is increasing demand for advanced security services and integration of network security solutions with other security services to mitigate the risk of cyber-attacks.
Within Network security, encryption and firewalls are the majorly adopted solutions by enterprises to protect their network and information. Network security solution monitors user activity, creating access limitation, training, and educating users, detailed information of log activities, creation of data breach response plan, compliance management, data encryption, and web application management.
Network Security Market: Drivers and Challenges
The major factor driving Network security market is the growing need of security solutions for cloud technology. Due to heavy use of virtualization, threats such as malware or defective process are reducing the efficiency of the hypervisor. This has encouraged Network security solution providers to offer advanced Network security solutions such as Firewall to scan every byte of each packet on all the network traffic. This Network security solution strengthens cloud-based security by providing additional benefits such as malware protection, detection of intrusion, policy violation data theft and other security measures.
The key challenge in the Network security market is the rising demand for solutions that can support BYOD approach. With the introduction of BYOD policy companies allow their employees to access business information through their personal devices and to follows open and interconnected network policy. This creates difficulty for network security solution to understand if the action has been taken up by the device, machine or human. Many network security solution providers are working towards the development of intelligent security solution that can secure information not only the device or communication pathway.
Another restraint in Network security is the vulnerability to cyber-attack. This has badly affected operating system of the companies as many organizations are running their network connected devices without network security updates, faces the problem of vulnerability to viruses, theft and data loss along with cloud Integration and connectivity. This have given hackers and cyber-attackers an easy access to the organization’s network. To secure network, timely detection, removal of viruses and control is needed. It is necessary to identify and fix the issues related to network performance and reliability.
Network Security Market: Segmentation
In this market companies offer solutions
Segmentation on the basis of solution:
- Data encryption
- Malware Protection
- URL and content filtering
- Advance Threat Detection and Vulnerability management
- Web Application Management
- Firewall Security
Key Contracts and Key Players:
In June 2016, Fortinet, a security solution provider has acquired AccelOps, a network security monitoring, and analytics company. This acquisition helps to provide more efficient network security solutions for automated threat prevention feature.
In June 2016, Barracuda networks has entered into the distribution agreement with Synnex Australia to increase its presence in APAC region by offering cloud backup and storage solutions, and disaster recovery solution in Australia and New Zealand.
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In March 2016, TrendMicro has acquired TippingPoint, network security Solution Company from HPE. This acquisition strengthens TrendMicro’s vulnerability management, threat protection, and advance network solution capabilities.
In Network Security market there are many other solution providers some of them are PaloAlto Networks, Sonicwall, McAfee, CheckPoint Software Technologies, AT&T, Microsoft, Cisco, Optiv Security Inc., Juniper and Siemens.
Presently, North America is holding the largest market share for network security solutions and its development. The market for Network security is growing considerably in U.S. due to the high adoption of network solutions among enterprises. Also, rising data breach and growth of financially targeted cyber-attacks has led enterprises to adopt advance network security solutions. Furthermore, the major solution vendors in Network security market are from North America, creating a high growth opportunity for users in these market.
In Europe region, the market for Network security is witnessing high growth rate due to the increasing demand for data loss prevention and data backup solutions among users. Countries such as Germany is implementing encryption solutions and regulating compliances in order to provide secure networking solutions to end-users.
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The Asia Pacific region is following the Europe region in this Network security market. This market is expected to have the highest growth rate in coming years due to the adoption of managed security services and the growing adoption of cloud-based security solutions.