Network Security Policy Management Market – 2018: Industry Trends and Forecast to 2026

Press Release

Network Security Policy Management Market (Component – Software (Cloud based, On premise), Services(Professional, Managed); Solution (Security Policy Management, Change Management System, Risk and Vulnerability Analysis, Application Connectivity Management; Enterprise Size – Small and Medium Enterprises (SME’s), Large Enterprises; Industry – Banking, Financial Services and Insurance (BFSI), Healthcare, Government, IT and Telecom, Retail, Transportation, Energy and Utilities, Others (Education, Manufacturing)) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026

According to a new market report published by Transparency Market Research titled Network Security Policy Management Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,” the global network security policy management market was valued at US$ 1,297.6 Mn in 2017 and is expected to expand at a CAGR of 8.2% from 2018 to 2026, reaching a value of US$ 2,614.2 Mn by the end of the forecast period.

According to the report, North America was a significant contributor to the network security policy management (NSPM) market in terms of revenue in 2017. The prominent market share of the region is due to the high adoption of cloud technology, and technological advancements in the field of network security, especially in the U.S. and Canada.

Growing focus on addressing digital business risks, and focus on building detection and response capabilities are some of the factors expected to drive the network security policy management market. However, lack of awareness about cyber threats in some regions is a factor restraining the market. Many organizations do not provide requisite training and education about cyber threats to their employees as they themselves are not aware about it.

Availability of network security policy management solutions on-demand via a SaaS model is anticipated to present significant opportunities for the network security policy management market.The SaaS option reduces the capital expenditure with the provision of subscription based, scaling pricing model. The end-user can process network security policy changes in real time across any cloud security control and on-premise security device.

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Network Security Policy Management Market: Scope of the Report

The global network security policy management market has been segmented based on component, solution, enterprise size, industry vertical, and region. Based on component, the market has been classified into software and services. Based on software, the market has been classified into cloud and on-premise. The cloud segment has been further split into public, private, and hybrid.

The cloud segment is expected to expand at a high CAGR, thus becoming the leading revenue generating segment by 2026. This is mainly because of increase in adoption of cloud based technologies, especially across Europe and Asia Pacific. Based on solution, the market has been classified into security policy management, change management system, risk and vulnerability analysis, and application connectivity management.

Based on enterprise size, the market has been divided into small and medium enterprises and large enterprises. In terms of industry vertical, the market has been divided into Banking, Financial Services and Insurance (BFSI), Healthcare, Government, IT & Telecom, Retail, Transportation, Energy & Utilities, and Others (Education, Manufacturing).

Based on region, the global network security policy management market has been categorized into Europe, North America, Middle East & Africa, Asia Pacific, and South America. The market in North America is expected to maintain its dominant position throughout the forecast period. However, Europe and Asia Pacific are also anticipated to constitute significant market share in the coming years.