Dublin, Aug. 29, 2019 (GLOBE NEWSWIRE) -- The "Security Policy Management Market by Component (Solution and Services), Product Type (Network Policy Management, Compliance and Auditing, Change Management, & Vulnerability Assessment), Organization Size, Vertical, & Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Global Security Policy Management Market is expected to grow from $1.5 billion in 2019 to $2.4 billion by 2024, at a CAGR of 9.6%.
An increase in the agility of business processes without sacrificing security and the need to reduce the reliance on the manual process of managing network policy management are driving the growth of the security policy management market.
The report includes an in-depth competitive analysis of the key players in the security policy management market along with their company profiles, recent developments, and key market strategies.
The report segments the security policy management market by components (solution and services), product type (network policy management, compliance and auditing, change management and vulnerability assessment) organization size (small and medium-sized enterprises and large enterprises), verticals (banking, financial services, and insurance, government and public sector, it and telecom, healthcare, retail, manufacturing, energy and utilities and others), and regions.
Solution segment to hold a higher market share during the forecast period
Security policy management is a software-based policy management solution that saves time and enhances the security posture by identifying the correct policies required in the network infrastructure. The solution helps to achieve the compliance requirements, enhances data protection and security, and helps to address threats as they arise. Security policy management helps enterprises identify the existing security posture of their information systems and infrastructure, and combat against cybersecurity threats.
It is not possible for SMEs to hire in-house policy management expert due to their limited budget and higher maintenance cost. The security policy management is offered remotely by a third-party team of security policy management experts and analysts.
Change management to have a significant growth in the security policy management market during the forecast period
Change management manages the policy changes that occur within a network. It executes various functions, such as monitoring policy changes, restricting unauthorized changes, and sending notifications on changes and restoration to trusted versions. It offers real-time change monitoring feature to avoid malicious changes in the network policies and to make the latest configuration available in the database, so that network administrators get informed about the malicious threats.
It also offers policy restoration and backup features which will help to roll back the changes to the earlier state. It keeps a backup of all the changes made to a network device. If the policy changes are not compatible with the network components, then it can be restored to the earlier version. Security policy management solutions offer robust change management policies to enable the administrators to define the actions to be taken whenever there is a change in the configuration. The action could be an automatic rollback to the previous version or notification via ticketing systems.
North America to have the largest market size during the forecast period
North America is the most mature market in terms of security policy management adoption. It is likely to account for a substantial share of the global security policy management market during the forecast period. The market growth in this region is driven primarily by the presence of large IT companies/users and rapid technological advancements, such as digitalization in the US and Canada.
The presence of key players in the security policy management market in the region is expected to be a significant factor in driving market growth. Key players, such as Cisco, Palo Alto Networks, Check Point Software Technologies, McAfee, and Juniper Networks along with several start-ups in the region, are offering enhanced security policy management solutions, to cater to the needs of the customers.
Competitive Landscape
The security policy management market includes various major vendors such as Cisco (US), Micro Focus (UK), Palo Alto Networks (US), Check Point Software Technologies (US), McAfee (US), Juniper Networks (US), Firemon (US), HelpSystems (US), AlgoSec (US), Tufin (US), CoNetrix (US), iManage (US), Odyssey Consultants (Cyprus), OPAQ Networks (US), Enterprise Integration (US), and Skybox Security (US).
Key Benefits of Buying the Report
The security policy management market has been segmented on the basis of components (solution and services), product type (network policy management, compliance and auditing, change management and vulnerability assessment) organization size (small and medium-sized enterprises and large enterprises, and), verticals (banking, financial services, and insurance, government and public sector, it and telecom, healthcare, retail, manufacturing, energy and utilities and others), and regions.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Security Policy Management Market
4.2 Market By Component, 2019
4.3 Market By Organization Size, 2019-2024
4.4 Market Market Share of Top 3 Industry Verticals and Regions, 2019
4.5 Market By Product Type, 2019
4.6 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Demand for Greater Business Agility Without Sacrificing Security
5.2.1.2 Need to Reduce the Reliance on Manual Processes
5.2.2 Restraints
5.2.2.1 Continuously Changing Business Requirements
5.2.3 Opportunities
5.2.3.1 Shift from Homogenous Model to Hybrid Network Model
5.2.3.2 Growing Pressure from Regulatory Bodies to Maintain Proper Security Policies
5.2.4 Challenges
5.2.4.1 Low Cybersecurity Budget
5.3 Industry Trends
5.3.1 Centralized Security Policy Management
5.4 Security Policy Management: Use Cases
5.4.1 CDW Attaining SOX Compliance With Ease
5.4.2 Tekjet Adopted Check Point for Security Management
5.5 Regulatory Implications
5.5.1 General Data Protection Regulation
5.5.2 Payment Card Industry Data Security Standard
5.5.3 Health Insurance Portability and Accountability Act
5.5.4 Federal Information Security Management Act
5.5.5 Gramm-Leach-Bliley Act
5.5.6 Sarbanes-Oxley Act
5.5.7 The International Organization for Standardization 27001
6 Security Policy Management Market By Component
6.1 Introduction
6.2 Solution
6.2.1 Need to Secure Organizations From Cyberattacks to Drive the Adoption of Security Policy Management Solutions
6.3 Services
6.3.1 Professional Services
6.3.1.1 Increasing Need for Security Professionals to Drive the Demand for Professional Services
6.3.2 Managed Services
6.3.2.1 Increasing Need to Reduce Data Breaches and Protect Intellectual Property Driving the Demand for Managed Services
7 Security Policy Management Market By Product Type
7.1 Introduction
7.2 Network Policy Management
7.2.1 Growing Complexities in Networks to Boost the Demand for Network Policy Management
7.3 Compliance and Auditing
7.3.1 Growing Need for Dynamic Policy Auditing and Risk Analysis to Fuel the Demand for Compliance and Auditing
7.4 Change Management
7.4.1 Increasing Network Policy Changes to Drive the Demand for Change Management
7.5 Vulnerability Assessment
7.5.1 Surging Need to Identify Network Vulnerabilities Driving the Demand for Vulnerability Management
8 Security Policy Management Market By Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises
8.2.1 Rising Security Issues to Drive the Adoption of Security Policy Management Solutions Among Small and Medium-Sized Enterprises
8.3 Large Enterprises
8.3.1 Increasing Cyberattacks and Hefty Fines for Regulatory Non-Compliance to Boost the Adoption of Security Policy Management Solutions Among Large Enterprises
9 Security Policy Management Market By Vertical
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.2.1 Growing Need to Adhere to Stringent Regulatory Compliances Driving the Adoption of Security Policy Management Solutions in Banking, Financial Services, and Insurance Vertical
9.3 Government and Public Sector
9.3.1 Increasing Need to Protect Sensitive Data of Citizens as Well as Organizations Driving the Adoption of Security Policy Management Solutions in Government and Public Sector
9.4 IT and Telecom
9.4.1 Increasing Need for Web, Mobile, and Cloud-Based Applications to Drive the Demand for Security Policy Management Solutions in IT and Telecom Vertical
9.5 Healthcare
9.5.1 Growing Need for Securing Patients' Data to Boost the Adoption of Security Policy Management Solutions in Healthcare
9.6 Retail
9.6.1 Need to Reduce Operational Cost and Enhance Profit Margins Driving the Adoption of Security Policy Management Solutions in Retail
9.7 Manufacturing
9.7.1 Rising Need for Effective Risk Management to Drive the Adoption of Security Policy Management Solutions in Manufacturing
9.8 Energy and Utilities
9.8.1 Need for IIoT and Connected Devices to Spur the Demand for Security Policy Management Solutions in Energy and Utilities
9.9 Others
10 Security Policy Management Market, By Region
10.1 Introduction
10.2 North America
10.2.1 United States
10.2.1.1 Stringent Regulatory Standards and a Large Number of Vendors to Drive the Growth of Market in the US
10.2.2 Canada
10.2.2.1 Increasing Adoption of New Technology to Drive the Growth of Market in Canada
10.3 Europe
10.3.1 United Kingdom
10.3.1.1 Existing Laws and Regulations and Adoption of New Technologies to Drive the Demand for Security Policy Management Solutions in the UK
10.3.2 Germany
10.3.2.1 Existing Ecosystem to Increase the Need for Security Policy Management Solutions in German Organizations
10.3.3 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Already Existing Economy to Boost the Growth of the Market in China
10.4.2 Japan
10.4.2.1 Government Initiatives and Increase in Need for Cybersecurity to Spur the Demand for Security Policy Management Solutions in Japan
10.4.3 India
10.4.3.1 Presence of Local and International Players to Contribute to the Growth of Market in India
10.4.4 Rest of Asia Pacific
10.5 Middle East and Africa
10.5.1 Middle East
10.5.1.1 Government Initiatives and Digitalization of Core Business Functions to Drive the Growth of the Market in the Middle East
10.5.2 Africa
10.5.2.1 Communication Service Providers' Continued Focus on Cloud Technologies to Boost the Growth of the Market in Africa
10.6 Latin America
10.6.1 Brazil
10.6.1.1 Banking Sector to Drive the Growth of Security Policy Management in Brazil
10.6.2 Mexico
10.6.2.1 Focus of Mexican Government Toward E-governance Using Cloud Technologies to Drive the Demand for Security Policy Management Solutions in Mexico
10.6.3 Rest of Latin America
11 Competitive Landscape
11.1 Competitive Leadership Mapping
11.1.1 Visionary Leaders
11.1.2 Innovators
11.1.3 Dynamic Differentiators
11.1.4 Emerging Companies
11.2 Competitive Scenario
11.2.1 Partnerships, Agreements, and Collaborations
11.2.2 New Product Launches/Product Enhancements
11.2.3 Mergers and Acquisitions
12 Company Profiles
12.1 Introduction
12.2 Cisco
12.3 Micro Focus
12.4 Palo Alto Networks
12.5 Check Point Software Technologies
12.6 McAfee
12.7 Juniper Networks
12.8 Firemon
12.9 HelpSystems
12.10 AlgoSec
12.11 Tufin
12.12 CoNetrix
12.13 Imanage
12.14 Odyssey Consultants
12.15 OPAQ Networks
12.16 Enterprise Integration
12.17 Skybox Security
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