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Network Security Market Share

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

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Network Security Market Share

The major companies operating in the network security industry are-

IBM Corporation
Microsoft Corporation
Cisco Systems, Inc.
Broadcom Inc.
VMware
Palo Alto Networks, Inc.
Fortinet, Inc.

IBM Corporation and Microsoft Corporation dominate the network security industry due to their comprehensive cybersecurity solutions and extensive industry experience. IBM's expertise in threat intelligence, managed security services, and innovative technologies, coupled with Microsoft's robust cloud security offerings, Azure Sentinel, and extensive security integrations, solidify their positions.

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.