Network Security Market 2024: Trends, Share, Growth, Innovation and Forecast 202

1. Network Security Market 2024: Trends, Share, Growth, Innovation and Forecast 2029 The global Network Security Market size is projected to grow from USD 78.2 billion in 2024 to USD 111.0 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period, according to new research report by MarketsandMarkets™ Sophisticated cyber threats have been a major driver of the traction of network security solution adoption and the emergence of the new wave of threats such as ransomware and APTs. Prior to committing complex new attacks, the attackers target critical infrastructure, financial systems, and private data. So, organizations are heavily investing in network security solutions that track and block any incoming threats to preserve their assets and the company's operations in a combat environment. Key Companies profiled • • • • • • • • • • • Cisco (US) Palo Alto Networks (US) Fortinet (US) Check Point (US) Trend Micro (Japan) Verizon (US) IBM (US) Broadcom (US) Juniper Networks (US) Akamai (US) Netskope (US) Download PDF Sample: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=151632343 Segment Analysis A VPN solution is a significant part of modern network security. It functions by establishing a secure, encrypted connection between a user's device and a network, typically over the Internet. This encryption ensures that any data transmitted over the VPN is protected from interception by malicious actors, safeguarding sensitive information such as login credentials, financial details, and confidential communications. VPNs are particularly valuable in protecting remote access to corporate networks. Presently where remote work is increasingly common, employees often need to connect to their company's internal resources from various locations, including potentially insecure environments like public Wi-Fi networks. Key vendors offering VPN solutions include Fortinet, Cisco, NordLayer, Check Point, and Zscaler. The on-premise deployment mode is estimated to hold the largest market share in the network security market. On-premises deployment mode for network security solutions involves installing and managing security hardware and software directly within an organization’s physical infrastructure. This way, organizations have full control over the security systems, including firewalls, IDS, DLP, and other tools. Commonly, on-premises deployment is chosen by organizations that have strict regulatory requirements, sensitive data, or demand for customized security configurations. It allows for direct management of data and security protocols, ensuring that all operations occur within the organization’s own data centers. Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=151632343

2. Regional Analysis The Asia Pacific region comprises countries such as China, India, Singapore, and Japan, which are leading in the network security market. Asia Pacific region is expected to register high growth rates in the network security market. China is one of the leading countries in this market, with extensive adoption of network security technology in various sectors, including BFSI, government, and healthcare. Other countries in the region, such as Japan, are also witnessing growth in the network security market. Various factors, such as internal and external regulations and the growing focus of various industries to get a unified view of risk, are expected to contribute to market growth. Factors such as increasing internet usage, regulations, compliances, and increasing digitalization are the major factors fueling the adoption of network security solutions. Recent Developments 1.In June 2024, Check Point unveiled CloudGuard WAF-as-a-Service (WAFaaS), an automated web application firewall powered by AI. This fully managed solution was intended to help organizations prevent cyber threats and safeguard web applications from unauthorized access and data breaches. WAFaaS aimed to provide a streamlined and cost-effective method for securing cloud applications and APIs by emphasizing prevention, ease of usage, and scalability. 2.In May 2024, Fortinet introduced the FortiGate 200G, a next-generation firewall (NGFW) developed for modern campus environments. The product is built to run on FortiOS and the SP5 security processing unit. Hence, throughput is improved, whereas the AI-based FortiGuard Security Services provide an additional advantage and 5GE ports for Wi-Fi 7; thus, secure, high-speed support is available for data-rich traffic and cloud-based applications. 3.In April 2024, Cisco acquired Isovalent, an open-source cloud-native networking and security leader. This marked a significant step forward in Cisco’s commitment to defining the future of secure, multi-cloud networking. About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to- Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

3. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets™ INC. 1615 South Congress Ave Suite 103, Delray Beach, FL 33445 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com Recent Developments 4.In June 2024, Check Point unveiled CloudGuard WAF-as-a-Service (WAFaaS), an automated web application firewall powered by AI. This fully managed solution was intended to help organizations prevent cyber threats and safeguard web applications from unauthorized access and data breaches. WAFaaS aimed to provide a streamlined and cost-effective method for securing cloud applications and APIs by emphasizing prevention, ease of usage, and scalability. 5.In May 2024, Fortinet introduced the FortiGate 200G, a next-generation firewall (NGFW) developed for modern campus environments. The product is built to run on FortiOS and the SP5 security processing unit. Hence, throughput is improved, whereas the AI-based FortiGuard Security Services provide an additional advantage and 5GE ports for Wi-Fi 7; thus, secure, high-speed support is available for data-rich traffic and cloud-based applications. 6.In April 2024, Cisco acquired Isovalent, an open-source cloud-native networking and security leader. This marked a significant step forward in Cisco’s commitment to defining the future of secure, multi-cloud networking. Report Highlights The report includes the players' updated financial and product information and recent developments from 2022 to 2024. • The study includes quantitative data for historical years 2018–2023, the base year 2023, and the forecast period (2024 to 2029). • The study comprises detailed use cases from different industries. • The study includes market ecosystem, value chain/supply chain analysis, pricing analysis, Porter’s five forces analysis, patent analysis, trends/disruptions impacting customers’ businesses, key stakeholders in the buying process, and key conferences and events in 2023– 2024. • The study includes an updated competitive landscape, including market share/ranking analysis, micro quadrants for key players and SME/startup players, key player strategies, competitive scenarios and trends, and revenue share analysis. • The study has additional coverage regarding the impact of AI/Gen AI in the market. •

4. The report provides information on the adjacent markets. •