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Network Access Control Market worth over $20 Bn by 2028
- Published Date: April 29, 2022
Network Access Control Market size is slated to cross USD 20 billion by 2028, according to a new research report by Global Market Insights Inc.
Increasing popularity of BYOD trends is likely to augment the industry growth. With the growing industrial competition, companies are emphasizing more on enhanced business efficiency. They are also strategizing on work-from-home, BYOD, and other flexible work policies for improving workforce productivity. Rising number of businesses are adopting these solutions as they offer various benefits, such as flexibility, growth, and employee satisfaction, thereby creating ample development opportunities. Major players are focusing on developing advanced & integrated solutions.
Growing zero trust network technology is driving network access control market revenue
The software segment is anticipated to grow at a rate of over 45% from 2022 to 2028 propelled by the increasing adoption of virtual network security solutions across enterprises. Enterprises are shifting toward software-based network security solutions to manage enterprise network security risks. The NAC software helps enterprises to defend the entire network including the physical infrastructure and any cloud-based systems that are linked together.
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Rising adoption of cloud computing technology across SMEs
The SMEs segment is predicted to witness over 40% gains during 2022 to 2028. This can be fueled by increasing acceptance of cloud-based solutions across SMEs. Small & medium businesses are emphasizing on cloud & digital infrastructure to enhance business propositions. These enterprises also face operational difficulties due to the lack of maintenance professionals and poor networking experience. Owing to the need to address these issues, the enterprises operating in the market are offering sophisticated solutions for SMEs. Enterprises, such as Ruijie Networks and Frontier Communications Corporation, are providing a comprehensive suite of network access control solutions.
Browse key industry insights spread across 304 pages with 378 market data tables and 41 figures & charts from the report, “Network Access Control (NAC) Market Size By Component (Software, Hardware, Services [Consulting, Integration and Maintenance, Managed Service]), By Deployment Model (On-premise, Cloud), By Organization Size (SMEs, Large Enterprises), By Application (IT & Telecom, BFSI, Healthcare, Retail, Manufacturing, Government, Education), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:
Increasing penetration of cost-effective NAC solutions
The on-premise segment held around 65% of the network access control market share in 2021 led by the increasing penetration of Network Access Control (NAC) solutions. On-premise deployments comprise deployments over an in-house enterprise network or system infrastructure. This provides solution customizations according to enterprise infrastructure and business requirements. According to the data published by The Economist Intelligence Unit, in 2020, 49% of the enterprises around the globe adopted on-premise deployment solutions to support ongoing operations.
Extensive penetration of connected devices across the healthcare industry
The social media application is poised to grow at a CAGR of about 45% in 2021. This can be driven by the increasing penetration of internet and connected devices across the healthcare vertical. With the expansive adoption of medical devices, the need to ensure efficient medical service deliveries is enabling the demand for network access control components.
Growing penetration of 5G networks is driving the Asia Pacific market growth
Asia Pacific network access control market is expected to generate a revenue of over USD 5.5 billion by 2028 impelled by growing technological advancements and an increase in 5G infrastructure & services in the region. The utilization of 5G services for massive machine-type communications in the manufacturing industry will reduce repetitive tasks. Machines connected to the network need security policies against cyberattacks or malwares. For instance, according to the report published by Ericsson Mobility, 5G mobile subscriptions in India are estimated to reach above 500 million by 2027.
Asia Pacific is a highly lucrative market for the adoption of IoT technologies due to numerous government initiatives for the large-scale digitalization of urban infrastructure in countries including China, South Korea, and India.
Industry participants are focusing to develop advanced network access control solutions
Some of the major network access control market players include Auconet, Inc. (Beta System Software AG), Cisco System Inc, CommScope, Inc., CyberCyte, Extreme Networks Inc., Forescout Technologies Inc, Fortinet Inc., Genians, Inc., Hewlett Packard Enterprise, InfoExpress Inc., IS Decisions, Juniper Networks Inc., Macmon Secure GmbH, OPSWAT, Inc., Portnox (Access Layers Ltd.), Pulse Secure, LLC., SolarWinds Worldwide, LLC, Trustwave Holdings, Inc., and Venustech Group Inc. The companies are focusing on forming partnerships to develop more advanced network access control solutions to meet the customer demand.
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