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Network Access Control Market Size
Network Access Control Market size exceeded USD 2 billion in 2021 and is estimated to grow at over 35% CAGR between 2022 and 2028.
Increasing penetration of IoT devices is set to drive the industry growth. The COVID-19 pandemic increased the adoption of connected devices across various end-user industries due to their easy-to-use features. Connected devices improve customer experiences and provide enhanced services. For instance, as per the Ericsson Mobility Report, 40% cellular IoT connections are likely to overtake broadband IoT with 4G connectivity by 2027.
The global COVID-19 restrictions resulted in social distancing, and the demand for network access control components witnessed a rapid spike across various industry verticals such as media entertainment, retail, and education. This created more opportunities for market players to develop advanced network access control solutions. During the pandemic, various business organizations have extensively invested in IoT technologies as a long-term recovery plan. Moreover, owing to rising cybersecurity concerns and the adoption of remote work trends, the demand for network access control solutions across the region is significantly increasing.
How big is the network access control (NAC) market?
The market size of network access control crossed USD 2 billion in 2021 and is predicted to register over 35% CAGR during the forecast period of 2022-2028.
What are the growth prospects of Canada NAC hardware market?
The hardware segment held more than 45% of the Canada NAC market share in 2021 due to the growing use of hardware-based NAC systems across several sectors.
Why is cloud-based network access control gaining traction in the U.K.?
The U.K. market size from the cloud segment is set to record over 40% CAGR through 2028 as the BYOD trend is picking pace across the country.
Which companies are involved in network access control landscape?
Extreme Networks Inc., CyberCyte, CommScope, Inc., Cisco System Inc, Fortinet Inc., Hewlett Packard Enterprise, Genians, Inc., Juniper Networks Inc., and SolarWinds Worldwide, LLC, among many others, are the main participants in this industry.