High Adoption of BYOD Policies and Cloud Computing in APAC will Aid the Growth of the Global Network Security Market Through 2019, Says Technavio

LONDON--()--The global network security market is set to each USD 14.67 billion by 2019, growing at a CAGR of close to 8%, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of the global network security market for 2015-2019. Based on product platform, the market is segmented into the following products: IDP, content security gateway, integrated VPN or firewall, and UTM.

Technavio’s research study segments the global network security market into the following regions:

  • North America
  • EMEA
  • APAC
  • Latin America

North America: largest network security market

In 2014, North America accounted for the largest market share with close to 43% of the overall market share. The market in this region is expected to grow at a CAGR of nearly 7% over the next four years. Some of the major factors contributing to market growth in North America include:

  • Availability of adequate IT and business infrastructure
  • Presence of many global financial institutions and large companies
  • IT security compliance regulations
  • Greater use of technology among enterprises
  • High occurrence of cyber-attacks and malware

However, Technavio’s analysis indicate the market share of North America to decrease during the forecast period because of the early adoption of network security solutions among large enterprises, SMEs, and network service providers.

Ask for a sample of this report: http://goo.gl/PWYjQh

Network security market in EMEA to reach USD 4.83 billion by 2019

The market in EMEA was valued at USD 3.56 billion in 2014 and is expected to reach USD 4.83 billion by 2019, growing at a CAGR of over 6%.

“Western Europe was the major revenue contributor because of the increased adoption of cloud computing, mobility, big data, and the Internet of Things, which requires enterprise IT security solutions to protect data. In this computing environment, accessibility on all Internet-connected devices leads to an increase in data generation and new vulnerabilities,” says Amrita Choudhury, a lead analyst at Technavio for enterprise application industry.

In 2014 the UK, France, Italy, and Germany were the major adopters of network security solutions in EMEA. The high concentration of large enterprises and SMEs has led to an increase in the demand for network security in this region.

Increased adoption of BYOD policies and cloud computing fueling APAC’s growth

The market in APAC was valued at USD 1.74 billion in 2014 and is likely to reach USD 3.1 billion by 2019, growing at a CAGR of over 12%.

APAC is expected to have the largest market share during the forecast period, given the increased adoption of BYOD policies and cloud computing, and the number of Internet users and hosting services. Japan and China are the largest revenue contributors in this region. “Enterprises in APAC, especially in India and China, are gradually developing their IT landscape and looking for technologies and new capabilities to extract the full potential of existing IT security systems incorporated in their organizations. Vendors have started operating in countries such as China and India, which is helping them capitalize on the opportunities within fast-growing economies,” says Amrita.

Network security market in Latin America to grow at a rapid rate of 10.56% in 2019

The market in Latin America is expected to reach USD 760 million by 2019, growing at a CAGR of 10.56%.

Increased dependency on wireless technologies and cloud-based mobile services, coupled with the emergence of technological forces such as the cloud and big data, has enabled enterprises in the region to improve business productivity and increase employee efficiency. At the same time, there has been an increase in the frequency of cyber-attacks, and enterprises are facing the challenge of keeping organizational data, assets, and information stored on the company's network infrastructure secure. Increased instances of security attacks in the region are causing several organizations to deploy network security solutions.

Some of the top vendors in the global network security market highlighted in the report are:

  • Cisco
  • Check Point Software
  • Fortinet
  • Juniper Networks
  • Palo Alto Networks

Browse Related Reports:

Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio’s reports allows you to download any three reports per month for the price of one. Contact enquiry@technavio.com with your requirements and a link to our subscription platform.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global network security market is set to each USD 14.67 billion by 2019, growing at a CAGR of close to 8%, according to Technavio’s latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com