On-Premises is Expected to Dominate the Global Network Security Appliance Market
The global security appliances market share is
influenced by a number of factors including increasing cybercrime activities,
rising bring-your-own-device implementation, increased demand for cloud-based
solutions.
According
to TechSci Research report, “Global Network Security Appliance Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Network Security Appliance is anticipated to
project robust growth in the forecast period with a CAGR of 14.66% through 2028. Security appliances
incorporate a comprehensive range of practices, tools, and techniques
interrelated closely to information and operational technology security. This
method uses preventive and responsive methods to defend networks and
information from being attacked and compromised. Moreover, security appliances
utilize web filtering, legacy malware protection, and advanced threat defense
to defend users from Internet-borne threats and to help enterprises enforce
Internet policy compliance. The task of information security is becoming more
complex with the growth of businesses in terms of size, structure, and
utilization of mobile devices, social media, cloud services, and big data. The
rising number of security attacks and malicious practices by trained
cybercriminal groups have been creating concerns for organizations across all
industry sectors. In addition, increased complexities in network infrastructure
are causing a major hindrance in data security management. As a result of these
circumstances, outsourcing network security to the security appliance service
providers has emerged as a lucrative option for organizations. Also, network
security services can be delivered either by setting up necessary security
infrastructure or by complete control of the service provider from a remote
location
The
global Network security appliances
market share is influenced by a number of factors including increasing
cybercrime activities, rising bring-your-own-device implementation, increased
demand for cloud-based solutions,
and stringent government regulations. Factors such as the need for better
security management have impacted both developed and developing economies to
protect themselves from unknown entities such as cyber-attack, rivalry, or
other disturbing activities. Moreover, the increasing adoption of cloud-based
mobile applications boosts the growth of the market globally. All these factors collectively create
opportunities for market growth, however, some of them account for limitations
in the market. However, each factor would have its definite impact on the
market
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The
security appliances market is segmented into By Deployment, By Industry
Vertical, and By Type. Based on type, the market is segmented into the
firewall, intrusion detection and prevention (IDP), content management, unified
threat management (UTM), and virtual private network (VPN). By industry
vertical, it is segregated into banking, financial services & insurance
(BFSI), public sector, energy & utilities, retail, IT & telecom,
manufacturing, aerospace & defense, healthcare, and others. BY Deployment mode, it is bifurcated into
cloud-based and on-premise deployment. Region-wise, it is analyzed across North
America, Europe, Asia-Pacific, and LAMEA.
On
the basis of type, the content management segment dominated the overall
Security Appliances industry in 2020, and is expected to continue this trend
throughout the forecast period. The increased threat to corporate networks and
information has created a demand for various solutions to protect the network
and information. The rise in content data among end-user industries and the
increased complexity associated with crucial data has fueled the growth of this
segment. Content management users need to integrate data among all business
processes, which has resulted in an increased need for robust security to block
unauthorized access and data breach. However, the Unified threat management
(UTM) segment is expected to grow the most, and this trend is expected to
continue during the forecast period. UTM solution enables IT, administrators,
to monitor and manage a wide variety of security-related applications and
infrastructure components through a single management console.
Key
market players in the Global Network
Security Appliance Market are following:-
- Honeywell
International Inc
- Bosch
Sicherheitssysteme Gmbh
- Trend
Micro Inc
- Fortinet,
Inc.
- Intel Corporation
- Symantec
Corporation
- Palo
Alto Networks, Inc
- Check
Point Software Technologies Ltd
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“.Depending
on the deployment model, the on-premise segment garnered the largest share in
2020 and is expected to continue this trend during the forecast period. This is
attributed to numerous benefits provided by this on-premise deployment such as
a high level of data security and safety. On-premise deployment model enables
installation of the software and permits applications to run on systems present
in the premises of the organization, rather than at a distant facility such as
server space or cloud.. This model is appropriate for specific applications such
as financial applications and health records with critical data that entail
large data transfers and operations.
However, the cloud segment is expected to witness the highest growth in
the upcoming years. As cloud deployment does not need any investment in IT
infrastructure as all data is stored on a cloud server, which increases the
demand for security appliances software in small and medium scale
organizations. Cloud-based deployment is an application licensing and delivery
model, where a vendor or a service provider hosts applications remotely. This
deployment model provides the IT team with a greater prospect to facilitate
real business value to the organization through lower expected costs and an
improved ability to focus on innovation and differentiation” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Network
Security Appliance Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast Segmented By Deployment (On premise, Cloud based), By Industry
Vertical (Aerospace and Defense, Banking, Financial Services, and Insurance
(BFSI), Public Sector, Retail, Healthcare, IT and Telecom, Energy and
Utilities, Manufacturing, Others), By Type (Firewall, Unified threat
management, Intrusion detection and prevention, Content management, Virtual
private network), By Region, Competition
2018-2028. has evaluated the future growth
potential of Global Network Security
Appliance Market and provides statistics and information on market structure,
size, share, and future growth. The report is intended to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Network Security Appliance Market.
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