Network Security Policy Management Market Demand, Trends, Size, Share, Growth Opportunities, Challenges, Business Revenue, Statistics, Company Profiles and Impact of COVID-19

Research Reports

Jan 20, 2021

The network security policy management market is garnering exponential traction. The market demand attributes to the rising demand for network security policy management solutions. Besides, the increasing need to protect network layers from advanced cyber threats drives market growth, meeting the compliance requirements. Moreover, spurring growth in network security policy management services escalates market growth.

According to Market Research Future (MRFR), the global network security policy management market valuation is estimated to reach USD 2.14 BN by 2023, growing at 9.2% CAGR throughout the forecast period (2018–2023).

Network Security Policy Management Market – Competitive Analysis

Highly competitive, the NSPM market appears to be fragmented due to the presence of several well-established market players. To gain a larger competitive share, players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and product/technology launch.

These players increasingly focus on innovation and development of new solutions, which fuel the already intensified market competition. The market’s high growth potential attracts several new entrants to the market, further boosting the market competition.

Network Security Policy Management Market – Regional Analysis

North America dominates the global network security policy management market. The region is a hub for technologies advances and witnesses massive cybersecurity solutions adoption. Besides, the largest market share attributes to the presence of notable players and well-established technology development centers, fostering the early adoption of IoT and Artificial Intelligence (AI) technologies.

The US accounts for the significant growth contributor for the regional market due to the rising technological enhancements. The North American NSPM market would retain its dominance throughout the forecast period.

Europe stands second in the global network security policy management market. The market growth is fostered by the increasing adoption of on-demand cloud services in the region. Additionally, growing markets in Germany, the UK, France, and Italy show immense growth in MSPM deployments. The European NSPM market is projected to create a substantial revenue pocket during the estimated period.

The Asia Pacific network security policy management (NSPM) market is growing rapidly. Factors such as the burgeoning IT & telecom sector and the increasing drive the growth of the regional market. Economically and technologically developing countries such as Japan, China, and India, account for major shares in the regional market. The APAC network security policy management market is expected to grow at an impressive CAGR during the forecast period.

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