Network Security Software Market to Witness Huge Growth by 2024

The Global report titled “Network Security Software Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 152 pages which highly exhibit on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. An exclusive data offered in this report is collected by research and industry experts team.

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The Global Network Security Software and Mitigation Market size is expected to grow from USD 13.5 Billion in 2019 to USD 22.8 Billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period.

#Key Players- Cisco Systems (US), SolarWinds (US), IBM (US), Trend Micro (Japan), FireMon(US), Symantec, (US), FireEye(US), GFI Software (Malta), Avast Software (US), WatchGuard (US), Bitdefender (US), Webroot (US), AT&T (US), Qualys (US), and Juniper Networks (US).

“Firewall solutions segment to hold a larger market size during the forecast period”

The network security software market by component has been segmented into solutions and services. Network security software solutions have advanced due to rapid advancements in Machine Learning (ML), Artificial Intelligence (AI), and big data analytics. The solutions built with the help of ML, AI, and big data analytics go beyond the traditional, signature-based detection and help in detecting and remediating the most recent active and passive threats. Thus, network security software solutions form a strong line of defense for enterprises to secure their endpoints, networks, and cloud environment.

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“Cloud deployment mode segment to grow at the highest CAGR during the forecast period”

By deployment mode, the network security software market is segmented into cloud and on-premises. The cloud deployment mode is expected to grow at a higher CAGR, as Small and Medium-sized Enterpirses (SMEs) are rapidly adopting cloud-based network security software solutions, owing to its cost efficiency. It helps the SMEs avoid the costs associated with hardware, software, storage, and technical staff. The cloud-based solutions offer a unified platform in the form of Software as a Service (SaaS)-based security services to secure business applications.

“North America to account for the largest market size during the forecast period”

North America is projected to hold the largest market size in the network security software market during the forecast period, owing to the early adoption of the network security solutions in the region. The network security software market is evolving in the North American region, as it is technologically advanced and tops the world in terms of the presence of security vendors and network and application-based attacks.

Competitive Landscape of Network Security Software Market:

1 Competitive Leadership Mapping

1.1 Progressive Companies

1.2 Responsive Companies

1.3 Dynamic Companies

1.4 Starting Blocks

2 Key Developments in the Network Security Software Market

2.1 Partnerships, Agreements, and Collaborations

2.2 New Product Launches/Product Enhancements

2.3 Mergers and Acquisitions

2.4 Business Expansions

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Study Objectives:

  1. To forecast the market size of the segments with respect to major regions, such as North America, Europe, Asia Pacific (APAC), Middle East, and Africa (MEA), and Latin America.
  2. To define, segment, and project the global market size for network security software market
  3. To define, describe, and forecast the market by component (solutions, and services), deployment type, organization size, vertical, and region
  4. To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  5. To analyze the micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
  6. To analyze market opportunities for stakeholders by identifying the high growth segments of the market
  7. To profile the key players in the market and comprehensively analyze their market size and core competencies
  8. To track and analyze competitive developments, such as new product launches; mergers and acquisitions; business expansions; partnerships, agreements, and collaborations in the global network security software market