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 poised to touch approx. USD 2.14 BN by 2023, growing at 9.2% CAGR throughout the forecast period (2018–2023).
Network security policy management (NSPM) solutions are used across the industry verticals to efficiently secure digital assets. The NSPM solutions provide full visibility in the management of a range of network security solutions, such as traditional & next-generation firewalls, security controls for all types of cloud, and heterogeneous network environments. Also, NSPM provides network visualization, traffic simulations, risk analysis, compliance reporting, and auditing capabilities for IT administrators.
Conversely, budget constraints in the enterprises for cybersecurity solutions are major factors projected to impede the market growth. Nevertheless, efficacies of network security policy management solutions would support market growth throughout the review period.
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Network Security Policy Management Market – Segments
The report is segmented into four dynamics;
By Component : Solutions and Services.
By Deployment Mode : On-cloud and On-premises.
By Industry Vertical : Government & Defense, Manufacturing, BFSI, IT & Telecom, Retail, Healthcare, Energy & Utilities, and others.
By Regions : Europe, Americas, Asia Pacific, and the Rest-of-the-World.
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.
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.
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Players active in the network security policy management market include Check Point Software Technologies Ltd., AlgoSec Inc., Palo Alto Networks, Inc., HPE Development LP, FireMon, LLC, Forcepoint LLC, Sophos Ltd., Tufin Software Technologies, IBM Corporation, and Juniper Networks, Inc., among others.
Industry/ Innovation/ Related News
September 22, 2020 — FireMon, LLC (the US), a leading network security policy management company, launched the industry’s first agile network security policy management (NSPM) platform.
FireMon brings the most sought after security capabilities to enable cloud and digital transformation initiatives with improved visibility, control, agility, and automation to enterprise cloud & hybrid network infrastructure.
Traditional approaches to managing network security policy are too cumbersome for their dynamic cloud and hybrid environments. Firemon’s agile system to NSPM efficiently responds to increasing change and heterogeneity rates while maintaining security and compliance.
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