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Network Security Market Trends

Report ID: GMI7252
Published Date: Nov 2023
Report Format: PDF

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Network Security Market Trends

AI is an emerging trend in the network security industry, revolutionizing threat detection and response. Advanced AI algorithms analyze vast amounts of network data, swiftly identifying anomalies and potential threats that might elude traditional security measures. Machine learning models improve over time, enhancing their ability to predict and prevent cyber threats. AI-powered security solutions offer proactive defense, automated responses, and adaptation to evolving threats, thereby enhancing the overall resilience of network security infrastructures. For instance, in October 2023, Darktrace introduced an AI-powered cloud security tool, which can autonomously address 99% of prevalent breaches. This innovative technology aims to revolutionize cloud security strategies by leveraging self-learning AI, effectively detecting and mitigating threats.

Cloud computing is an emerging trend in the network security market, transforming how data is stored and accessed. This trend has prompted the development of specialized security solutions, such as Cloud Access Security Brokers (CASBs) and cloud-native security tools. These innovations focus on protecting data, applications, and infrastructure in cloud environments, catering to the increasing demand for robust and scalable cloud security solutions.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of network security reached USD 19.5 billion in 2022 and is set to grow at 12% CAGR from 2023 to 2032, attributed to the rising frequency and complexity of cyberthreats.

Cloud-based network security segment accounted for more than 30% revenue share in 2022, owing to the expanding adoption of cloud services across various industries for safeguarding data and applications.

North America held over 30% of the market share in 2022, driven by the stringent data privacy regulations, increasing cyber threats, and the high adoption rate of advanced technologies in the region.

Some of the key network security companies include IBM Corporation, Microsoft Corporation, Cisco Systems, Inc., Broadcom Inc., VMware, Palo Alto Networks, Inc., and Fortinet, Inc.