Network Security Market Dynamics & Global Outlook

Author - ISA (Comstar) | May 14 2021 05:00

digital security devices provider

With the emerging advancements of science and technology, we are now living in the age of internet. The era of 2021 is internet-based, where people are internet savvy due to which internet threats and thefts are accelerating at an alarming rate,  thus, need for network security.  

Network security comprises products and services to protect sensitive data of organizations against unauthorized use/access and malicious acts. 

Living in the digital age of 2021, everything, including our businesses, are digitalized, and so is cyber theft. Companies are often  complacent that there is no chance of online threats leading to loss of data and disruption in operations

However, world is haunted by a large number of hackers trying to steal sensitive data to disrupt business and undertake extensive monetary fraud. This is where network security plays its role. Nowadays, both small to large organizations are investing in implementing network security in their businesses.

An overview of the global market shows network security to have the highest growth rate from the year 2012, which is targeted to boost up even higher in the upcoming years. Keeping the present and the past marketing strategies in consideration, it is projected that the network security market will soon be yielding the highest revenues by end of 2023. Since its products and services are aiding users with one-stop solutions to their tackling emerging critical security issues and requirements, massive adoption across the globe resulted in billions of revenue by last quarter of 2018. However, this is forecasted to further escalate trillions of dollars by 2030. 

Further evaluation of this projected growth rate and insight of the global market postulates that the complexity of business networks is triggering the need for network security software and appliances. This is motivating technology companies to enter the market.

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