PUBLISHER: Allied Market Research | PRODUCT CODE: 1414967
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414967
According to a new report published by Allied Market Research, titled, "Network Access Control Market," The network access control market was valued at $2.6 billion in 2022, and is estimated to reach $16.2 billion by 2032, growing at a CAGR of 20.6% from 2023 to 2032.
As digital transformation accelerates, security audits are bound to reveal unmapped infrastructure. As a result, network access control can help to strengthen security for vulnerable access points, and IoT devices like wearables or building automation that leave enterprises exposed. In addition, corporate network access by different types of stakeholders and devices, including guests, partners, contractors and consultants increases security exposure. Therefore, network access control helps to manage third-party access and keep data flow secure. Such enhanced factors are expected to provide lucrative opportunities for market growth during the forecast period.
Furthermore, an increase in the use of cutting-edge technologies, connected systems, and expanding digitalization are all contributing to the market's expansion. In addition, the market is anticipated to expand throughout the projected period due to rising internet service use and developments in AI technology. Moreover, it is also anticipated that the adoption of cloud computing will enable the scalability, flexibility, and cost-effectiveness of network systems, as well as the development of machine learning and other advanced technologies to enable real-time data processing and reduce latency.
Moreover, the surge in IoT proliferation and the requirement of higher secure endpoint protection are the key factors that positively impact the growth of the market in the future. Moreover, rise in remote work and BYOD trends propels global network access control market growth. However, lack of skilled security professionals and high implementation cost are expected to hamper market growth. Furthermore, increased adoption of cloud-based network services is one of the major factors creating numerous opportunities for the market. Moreover, implementation of advanced technologies, such as AI, ML and automation is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The Network access control market is segmented on the basis of component, organization size, deployment mode, industry vertical, and region. On the basis of the component, the market is divided into hardware, software, and service. By deployment mode, it is categorized into on-premises and cloud. On the basis of the organization size, the market is bifurcated into large enterprises and small and medium-sized enterprises. By industry vertical, it is divided into IT and telecom, BFSI, healthcare, retail and E-commerce, manufacturing, government, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the network access control market are Broadcom, Cisco Systems, Inc., Extreme Networks, Fortinet, Inc., Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., IBM Corporation, Juniper Networks, Inc., Microsoft Corporation, and VMware, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the network access control market globally.