Copyright © 2024 Research Nester. All Rights Reserved
Network Access Control Market size was over USD 3.19 billion in 2023 and is anticipated to cross USD 74.3 billion by 2036, growing at more than 27.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of network access control is assessed at USD 3.89 billion.
Growth Drivers
Evolution of technology
Emerging technologies such as the Internet of Things, bring your own device (BYOD), machine to machine networks, cloud-based services, and rise in web-based applications are driving the growth of the network access control market.
Rising cases of the data breach and cyber crimes
The key growth drivers for this market are the growing rate of cybercrimes, malware attacks, and the breach of data security around the globe. IBM Security in its 2019 Cost of a Data Breach Report reported that the average total cost of a data breach was USD 3.92 million and the cost of a data breach has risen 12% over the past years.
According to a report published by the World Economic Forum on April 1, 2020, cybercriminals are exploiting COVID 19 to launch cyberattacks, and passwords are one of the most vulnerable targets of attack.
Moreover, in enterprises, new devices, and new employees entering the network supports the growth of the market. Also, operating systems such as android, IoS, and windows are improving compatibility with network access control products contributing towards the growth of the market.
Challenges
Huge investment and deployment
The market growth is hampered by huge initial investment in cloud deployment and establishing appropriate policies for the network access control systems.
Furthermore, the lack of comprehensive control to identify user access and guest access may hamper the growth of the market.
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
27.4% |
|
Base Year Market Size (2023) |
USD 3.19 billion |
|
Forecast Year Market Size (2036) |
USD 74.3 billion |
|
Regional Scope |
|
The market is segmented by product type, services, verticals, deployment, and region. Among product segmentation, the hardware solution segment is anticipated to hold the leading market share during the forecast period owing to greater endpoint visibility and compliance. The software segment is expected to grow significantly in the forecast period on account of increasing cybercrimes and malware attacks.
Our in-depth analysis of the global market includes the following segments
|
By Product Type |
|
|
By Services |
|
|
By Verticals
|
|
|
By Deployment
|
|
Geographically, the network access control market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North America industry is estimated to account for largest revenue share by 2036, impelled by technological maturity, a growing rate of cybercrimes, data breaching, and massive growth of the industrial sector in the region. North America houses the key players of the market and the existing datacentre facilities are also observing expansion.
The Asia Pacific is anticipated to surface as a lucrative region for the market in the forecast period on account of the high adaption of mobile, social, and cloud technologies.
Latin America and the Middle East & Africa regions also represent immense potential in terms of the adoption of network access control solutions.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?