Pune, May 12, 2025 (GLOBE NEWSWIRE) -- Network Security Market Size Analysis:
“According to SNS Insider, the Network Security Market was valued at USD 22.2 billion in 2023 and is projected to reach USD 79.7 billion by 2032, growing at a CAGR of 15.29% during the forecast period of 2024–2032.”
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Major Players Analysis Listed in this Report are:
- Cisco Systems, Inc. – Cisco Secure Firewall
- Palo Alto Networks, Inc. – Prisma Access
- Fortinet, Inc. – FortiGate Next-Generation Firewall
- Check Point Software Technologies Ltd. – CloudGuard Network Security
- Juniper Networks, Inc. – SRX Series Firewalls
- IBM Corporation – IBM QRada
- McAfee LLC – McAfee Total Protection
- Symantec Corporation (Broadcom Inc.) – Symantec Endpoint Protection
- Trend Micro Inc. – Deep Security
- Sophos Group plc – Sophos Intercept X
- Kaspersky Lab – Kaspersky Security Center
- Zscaler, Inc. – Zscaler Internet Access
- F5, Inc. – BIG-IP Advanced Firewall Manager
- Proofpoint, Inc. – Proofpoint Email Security
- Barracuda Networks, Inc. – Barracuda Web Application Firewall
Network Security Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 22.2 Billion |
| Market Size by 2032 | USD 79.7 Billion |
| CAGR | CAGR of 15.29% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | Increasing cyber threats and rising awareness of data breach risks are driving demand for advanced network security solutions. |
The U.S. network security market is witnessing robust growth due to rising cyber threats, digital transformation, and regulatory compliance needs. In 2023, the market was valued at USD 5.7 billion and is projected to reach USD 20.1 billion by 2032, growing at a CAGR of 14.98% during 2024–2032. Increasing investments in AI-driven threat detection and zero-trust security frameworks are further accelerating market expansion.
By Deployment: On-Premise Segment Dominated the Market, Cloud Segment Registered Fastest CAGR
The on-premise segment dominated the market in 2023 and accounted for 59% of revenue share, on account of greater control of the security of their infrastructure by the companies. On-premise is generally preferred by industries with strict data privacy and compliance needs, like healthcare and finance, as they can stay in control of their data, and the configurations for security can be customized. This section is anticipated to continue to lead the market owing to the dire necessity of security at the local level of society.
The cloud segment is expected to register the fastest CAGR during the forecast period. Cloud-based security solutions are gaining traction across different industry verticals, owing to their scalability, cost-effectiveness, and easy deployment. A further surge in demand for cloud-native security services is coming from the accelerating move to remote working and digital transformation programs.
By Type: Firewalls Dominated the Market, VPN Segment Registered Fastest CAGR
Firewalls segment dominated the market in 2023 and accounted for a significant revenue share, as they are the first step of protection against cyberattacks. Being capable of governing and regulating, and controlling traffic in the network, depending on the previously established security measurements, keeps the firewalls as a necessary part of any network security system. Their dominance in the market is preserved through the ongoing development of firewall technologies, such as next-generation firewalls combined with intrusion prevention systems.
The VPN segment is expected to register the fastest CAGR throughout the forecast period. The increase in teleworking and the necessity to safely access the company network support the demand for VPN applications. And with an increasing number of people using public Wi-Fi, customers are demanding VPN services.
By Enterprise Size: Large Enterprises Dominated the Market, while Small & Medium Enterprises (SMEs) Segment Registered Fastest CAGR
The large enterprise segment dominated the market and accounted for 59% of revenue share, which invested big bucks in high-end security infrastructure and has complex network environments. Such companies focus on all-encompassing security measures to safeguard large amounts of sensitive information and keep their business running.
The SMEs are predicted to grow faster during the forecast period. With cyber threats on the rise, more and more SMEs are acknowledging the need for effective security. With scalable and affordable secure solutions designed for SMEs, it becomes easier for SMEs to adopt network security technologies.
By Industry: The IT and Telecommunications Segment Dominated the Market, while the Manufacturing Segment Registered the Fastest CAGR
The IT and telecommunications segment dominated the market in 2023, owing to the pressing requirement to safeguard extensive networks and sensitive customer information. As the market is undergoing a wholesale digital transformation and the number of Connected devices continues to grow, it leaves big challenges in security.
The manufacturing segment is expected to grow fastest owing to the application of IoT and automation technologies, which find application in production. These developments also expose security threats, which lead manufacturers to consider investing in strong network security.
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Network Security Market Segmentation:
By Deployment
- Cloud
- On-premise
By Type
- Firewalls
- Antivirus and antimalware software
- VPN
- Wireless security
- Others (Data loss prevention, Intrusion prevention systems etc.)
By Enterprise Size
- Small & Medium Enterprises (SMEs)
- Large Enterprises
By Industry
- BFSI
- IT and Telecommunications
- Retail
- Healthcare
- Government
- Manufacturing
- Travel and Transportation
- Energy and Utilities
- Others (Education, etc.)
By Region: North America Dominated the Market while Asia Pacific Registered the Fastest CAGR
North America dominated the market and accounted for the largest share of more than 34% in 2023, due Increase in the presence of large security vendors, significant refinement of IT infrastructure, and a stringent regulatory environment. Its aggressive stance on the latest security technology ensures its supremacy in the network security industry.
The Asia Pacific is expected to register the fastest CAGR during the forecast period, with the digital transformation that is ongoing at a rapid pace, improved internet penetration, and increased awareness of the cybersecurity threat landscape. Government efforts and investments in IT infrastructure also foster the growth of network security solutions in this region.
Recent Developments in 2024:
- February 2024: Palo Alto Networks announced updates to its Panorama solution, enhancing AI-driven policy automation features for hybrid and multi-cloud environments.
- March 2024: Cisco Systems launched new capabilities for its Secure Network Analytics platform, integrating enhanced threat detection and response.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Network Security Market Segmentation, by Deployment
8. Network Security Market Segmentation, by Type
10. Network Security Market Segmentation, by Industr
11. Regional Analysi
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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