Dublin, Sept. 18, 2019 (GLOBE NEWSWIRE) -- The "Network Security Software Market by Component (Solutions (Firewall, Antivirus/Antimalware, and SWG) and Services (Professional Services and Managed Services)), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The network security software market size is expected to grow from US$ 13,513 million in 2019 to US$ 22,750 million by 2024, at a CAGR of 11% during the forecast period.

  • This market study covers the network security software market across segments.
  • It aims at estimating the market size and the growth potential of the market across segments, such as component (solutions and services), deployment type, organization size, vertical, and region.
  • The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Major vendors in the global network security software market include: 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).

Increase in demand to secure the enterprise network infrastructure and web-based application from cyber threats to drive the overall network security software market

The major factors driving the growth of the network security software market include the rising concerns among enterprises about network security and data privacy, and rising awareness among enterprises about the changing threat landscape, and growing need for adherence to data protection laws. Due to the advent of digitalization, the prevalence of migration of data and applications to the cloud, and the instances of cyberattacks have increased considerably in recent times.

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.

Among network security software solutions, the firewall solution is projected to hold the largest market size during the forecast period. A firewall functions as a gatekeeper that controls the traffic between the network and application elements. It filters network- and internet-based traffic, concentrating on application-specific granular security type and helps detect application-specific attacks. In recent years, firewalls have evolved from packet filter to next-generation to better protect corporate networks. Thus, the advanced capabilities of firewalls to boost its growth in the network security market.

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 Enterprises (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. It is also beneficial for organizations with strict budgets for security investments. The cloud deployment mode is the most preferred deployment mode for securing web and mobile applications and is used by the most number of SMEs as it is easy to maintain and upgrade.

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. The increased instances of data breach incidents in the country and need to protect critical network infrastructures, and sensitive data have made the region adopt these next-generation technologies.

The rise in threats and vulnerabilities and government compliances has made North America the most lucrative region for different categories of vendors. The concentrated presence of a large number of network security software solutions and services providers in the US is also expected to drive revenue growth from the region. The Asia Pacific (APAC) market is expected to grow at the highest CAGR during the forecast period, as countries in this region are investing heavily in deploying network security software solutions and services to combat the accelerated traffic rate brought by new network technologies that induce advanced cyberattacks.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Network Security Software Market
4.2 Market By Component, 2019
4.3 Market By Service, 2019-2024
4.4 Market By Professional Service, 2019
4.5 Market By Solution, 2019
4.6 Market By Organization Size, 2019
4.7 Market By Deployment Mode, 2019
4.8 Market Investment Scenario
4.9 Market Top 3 Verticals

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Network Security and Privacy Concerns
5.2.1.2 Stringent Regulations and Need for Compliances to Drive the Adoption of Network Security Software
5.2.2 Restraints
5.2.2.1 High Cost of Innovation and Budget Constraints
5.2.3 Opportunities
5.2.3.1 Increase in Adoption of Cloud-Based Security Technologies
5.2.3.2 Integration of Advanced Deep Learning and Machine Learning Capabilities Adding Value to Network Security Software Offerings
5.2.4 Challenges
5.2.4.1 Lack of Competent Cybersecurity Professionals to Handle Challenging Security Incidents
5.3 Use Cases
5.3.1 Use Case: Scenario 1
5.3.2 Use Case: Scenario 2
5.3.3 Use Case: Scenario 3

6 Market By Component
6.1 Introduction
6.2 Solutions
6.2.1 Increasing Network-Based Attacks to Drive the Adoption of Network Security Software Solutions
6.3 Services
6.3.1 Demand for Seamless Experience and Personalized Services to Contribute to the Growth of Services

7 Network Security Software Market By Solution
7.1 Introduction
7.2 Firewall
7.2.1 Advanced Capabilities of Firewalls to Boost Its Growth in the Market
7.3 Antivirus/Antimalware
7.3.1 Increasing Diversity of Viruses to Boost the Growth of Antivirus/Antimalware Solutions
7.4 Network Access Control
7.4.1 Enterprises Widely Adopting Network Access Control Solutions to Ensure the Systems are Up-To-Date
7.5 Data Loss Prevention
7.5.1 Rising Data Breaches Caused By Adversaries Nationwide to Force Enterprises to Adopt Data Loss Prevention Solutions
7.6 Intrusion Detection System/Intrusion Prevention System
7.6.1 Increasing Data Breaches and Thefts to Fuel the Demand for Intrusion Detection System/Intrusion Prevention System Solutions
7.7 Secure Web Gateways
7.7.1 Increasing Level of Network Data Breaches to Fuel the Demand for Secure Web Gateways Solutions
7.8 Distributed Denial-Of-Service Mitigation
7.8.1 Weakening of Network Performance and Disruption of Internet Services to Fuel the Adoption of Distributed Denial-Of-Service Mitigation Solutions
7.9 Unified Threat Management
7.9.1 Unified Threat Management to Promote Filtering Based on Business Requirements
7.10 Vulnerability Scanning
7.10.1 Growing Need for Vulnerability Scanning to Identity Gaps and Risks in an Enterprises Security Posture
7.11 Sandboxing
7.11.1 Demand for Integrated and Customized Security Solutions to Support the High Growth of the Sandboxing Solution
7.12 Others

8 Market By Service
8.1 Introduction
8.2 Professional Services
8.2.1 Design and Implementation
8.2.1.1 Growing Demand to Configure, Validate, and Implement the Deployment of Network Security Software Solutions to Fuel the Demand for Design and Implementation Services
8.2.2 Consulting
8.2.2.1 Consulting Services Help Optimize Organizations' Ability to Consume, Analyze, and Apply Network Security Software Solutions to Protect Their Assets
8.2.3 Training and Education
8.2.3.1 Lack of Skilled Security Professionals Driving the Adoption of Training and Education Services
8.2.4 Support and Maintenance
8.2.4.1 Support and Maintenance Service Providers Help Enterprises in Providing Installation, Maintenance, and Other Support Activities
8.3 Managed Services
8.3.1 Managed Services Gaining Popularity as They Help Organizations Meet Compliance Needs

9 Market By Deployment Mode
9.1 Introduction
9.2 Cloud
9.2.1 Low Cost of Installation, Upgrade, and Maintenance, to Increase the Adoption of Cloud-Based Network Security Software Solutions
9.3 On-Premises
9.3.1 Need to Secure In-House Applications, Platforms, and Systems Against Evolving Network-Based Attacks to Fuel the Demand for On-Premises Deployment Mode

10 Network Security Software Market By Organization Size
10.1 Introduction
10.2 Small and Medium-Sized Enterprises
10.2.1 Rising Security Issues Compel Small and Medium-Sized Enterprises to Focus on the Adoption of Network Security Software Solutions
10.3 Large Enterprises
10.3.1 Growing Need for Securing Data From Vulnerabilities to Fuel the Adoption of Network Security Software Solutions in Large Enterprises

11 Market By Vertical
11.1 Introduction
11.2 Aerospace and Defense
11.2.1 Increasing Deployment of Network Security Software in the Aerospace and Defense Vertical to Protect Information From Network-Based Cyberattacks
11.3 Government
11.3.1 Network Security Software to Help Improve the Security of Critical Information and Reduce the Threat of Unauthorized Access in the Government Vertical
11.4 Banking, Financial Services, and Insurance
11.4.1 Network Security Software to Help BFSI Vertical to Effectively Secure Sensitive Information and Ensure Data Privacy
11.5 IT and Telecommunication
11.5.1 Growing Need for Providing Secured Information and Network Security Services to Fuel the Growth of Network Security Software in the IT and Telecommunication Vertical
11.6 Healthcare
11.6.1 Growing Need for Securing Patients' Data to Boost the Adoption of Network Security Software in the Healthcare Vertical
11.7 Retail
11.7.1 Retail Companies to Deploy Network Security Software for Safeguarding Customers' Sensitive Information
11.8 Manufacturing
11.8.1 Growing Number of Manufacturing Units in Emerging Regions to Spur the Demand for Superior Network Connectivity, Resulting in the Adoption of Network Security Software Solutions
11.9 Energy and Utilities
11.9.1 Evolving Volumetric Network-Based Attacks to Fuel the Adoption of Network Security Software Solutions in the Energy and Utilities Vertical
11.10 Others

12 Network Security Software Market By Region
12.1 Introduction
12.2 North America
12.2.1 United States
12.2.1.1 High Regulatory Standards and A Large Number of Vendors to Contribute to the Growth of Network Security Software in the US Market
12.2.2 Canada
12.2.2.1 Increasing Migration Toward Cloud-Based Technologies to Drive the Growth of Network Security Software in Canada
12.3 Europe
12.3.1 United Kingdom
12.3.1.1 Increasing Focus to Avert Cyberattacks to Increase the Demand for Network Security Software in the UK
12.3.2 Germany
12.3.2.1 Demand for Cloud-Based Solutions to Increase the Need for Network Security Software in German Organizations
12.3.3 France
12.3.3.1 General Data Protection Regulation and Other Stringent Regulations to Account for A Massive Impact on the Adoption of Network Security Software
12.3.4 Rest of Europe
12.4 Asia Pacific
12.4.1 China
12.4.1.1 Increasing Deployment of Cloud-Based Applications and Rising Cyber Attacks to Enhance the Growth of Chinese Market
12.4.2 Japan
12.4.2.1 Increasing Use of Digital Solutions to Enhance Japanese Network Security Software Market
12.4.3 India
12.4.3.1 Huge Adoption of Cloud and Mobile Applications By Small and Medium-Sized Enterprises to Contribute to the Growth of Network Security Software Solutions in India
12.4.4 Australia and New Zealand
12.4.4.1 Demand for Cloud-Based Solutions to Increase the Need for Network Security Software in German Organizations
12.4.5 Rest of Asia Pacific
12.5 Middle East and Africa
12.5.1 Middle East
12.5.1.1 Increasing Deployment of Cloud Technologies for Core Business Functions to Project the Growth of the Market in the Middle East
12.5.2 Africa
12.5.2.1 Rising Use of Information and Communications Technology Solutions Toward Cloud Technologies to Boost the Growth of the Market
12.6 Latin America
12.6.1 Brazil
12.6.1.1 Growing Adoption of Cloud Applications By SMEs to Contribute to the Growth of Network Security Software Solutions in the Indian Industry
12.6.2 Mexico
12.6.2.1 Increasing Adoption of Broadband Technologies to Drive the Market of Network Security Software Across Mexico
12.6.3 Rest of Latin America

13 Competitive Landscape
13.1 Competitive Leadership Mapping
13.1.1 Progressive Companies
13.1.2 Responsive Companies
13.1.3 Dynamic Companies
13.1.4 Starting Blocks
13.2 Key Developments in the Network Security Software Market
13.2.1 Partnerships, Agreements, and Collaborations
13.2.2 New Product Launches/Product Enhancements
13.2.3 Mergers and Acquisitions
13.2.4 Business Expansions

14 Company Profiles
14.1 Introduction
14.2 Cisco
14.3 Solarwinds
14.4 IBM
14.5 Trend Micro
14.6 Symantec
14.7 Fireeye
14.8 Avast
14.9 Watchguard
14.10 Firemon
14.11 GFI Software
14.12 Bitdefender
14.13 Webroot
14.14 AT&T
14.15 Qualys
14.16 Juniper Networks

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