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Network Access Control market Size
North America held the largest Network access control market share in 2022 due to high rates of data breaches.
PORTLAND, OR, UNITED STATES, September 10, 2024 /EINPresswire / — According to the report, the global network access control market size was valued at $2.6 billion in 2022 and is projected to grow to $16.2 billion by 2032, registering a compound annual growth rate (CAGR) of 20.6% from 2023 to 2032.
The market’s expansion is driven by several factors, notably the increasing sophistication and frequency of cyberattacks, which are prompting organizations to prioritize robust network security measures. Additionally, regulatory frameworks like GDPR and HIPAA require stringent protection mechanisms to safeguard sensitive data. The rise of cloud computing and remote work, alongside the widespread adoption of Bring Your Device (BYOD) policies, have blurred traditional network boundaries, further fueling demand for NAC solutions. Moreover, rising awareness of network security risks, increasing use of mobile devices and wireless networks, and the need for enhanced visibility and control of network activities are expected to create growth opportunities for the NAC market. However, challenges such as a shortage of skilled security professionals and the high costs of implementation may hinder market growth.
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Network Access Control (NAC) refers to a security solution that manages and controls access to a network by enforcing policies and protocols. It ensures that only authorized devices and users can connect to the network, while restricting or blocking access to unauthorized entities. NAC systems assess devices for compliance with security standards (e.g., proper antivirus software, up-to-date patches) before granting access and can also monitor user activity on the network.
NAC is vital for preventing unauthorized access, maintaining network security, and enforcing security policies across both wired and wireless networks. It is particularly important in environments with bring your own device (BYOD) policies, cloud services, and remote access scenarios.
The Network Access Control (NAC) market is highly competitive, with several key players driving innovation and market expansion. Prominent companies in this sector include Cisco Systems, Inc., one of the global leaders in network security solutions, and Hewlett Packard Enterprise (HPE), which provides comprehensive NAC technologies. Other notable players include Fortinet, Inc., known for its robust security infrastructure, and Pulse Secure (now part of Ivanti), which specializes in secure access solutions. Aruba Networks (a Hewlett Packard Enterprise company) also holds a significant market presence, particularly in wireless network access control. Additionally, companies like Forescout Technologies, Inc., Extreme Networks, Inc., and Portnox have gained recognition for their advanced NAC offerings. Other emerging players contributing to the market include Check Point Software Technologies Ltd., Sophos Group PLC, and Auconet, all of which focus on delivering flexible and scalable solutions to address growing network security challenges across various industries.
The report provides a detailed analysis of these key players in the global network access control market. These players have adopted different strategies such as expansion, merger, and product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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In terms of components, the hardware segment dominated in 2022, accounting for nearly half of the market revenue. This is because hardware components play a crucial role in enforcing security policies and preventing unauthorized access to networks. However, the service segment is expected to experience the highest growth, with a projected CAGR of 23.4% from 2023 to 2032, driven by the increasing adoption of digital technologies and the need for seamless, anytime-anywhere access to manufacturing facilities.
Looking at deployment modes, cloud-based NAC solutions held the largest market share in 2022, contributing to over half of the total market revenue. Cloud-based NAC offers flexible access control, enabling remote and mobile users to securely access networks from any location using multiple devices-a feature that is vital in today’s distributed work environments. On-premise NAC solutions, while offering heightened security and control, are anticipated to grow at the fastest CAGR of 21.8% during the forecast period.
By organization size, large enterprises led the market in 2022, representing about two-thirds of the total revenue. NAC solutions help large enterprises manage access across complex network environments while ensuring compliance with security policies. Meanwhile, small and medium-sized enterprises (SMEs) are expected to see the highest growth, with a forecasted CAGR of 22.4% from 2023 to 2032. Cloud-based NAC solutions provide SMEs with scalable, cost-effective options that simplify infrastructure management.
In terms of industry verticals, the banking, financial services, and insurance (BFSI) sector held the largest share in 2022, comprising less than one-fourth of the market revenue. The shift to digital services, particularly mobile banking, has driven demand for secure networks in the BFSI sector. However, the retail and e-commerce sector is set to experience the highest growth, with a projected CAGR of 26.0%. NAC solutions in this sector help detect threats, restrict unauthorized access, and protect systems from breaches.
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Geographically, North America dominated the NAC market in 2022, accounting for nearly two-fifths of global revenue, largely due to rising data breaches across various sectors. However, the Asia-Pacific region is expected to witness the fastest growth, with a forecasted CAGR of 23.9% from 2023 to 2032, driven by the increasing adoption of smart technologies such as artificial intelligence (AI) and machine learning (ML).
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Publish date : 2024-09-09 13:14:00
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