HomeMarket ResearchNetwork Access Control Market Competitive Landscape and Growth Prospects By 2022
Network Access Control Market Competitive Landscape and Growth Prospects By 2022
August 27, 2021
Global Network Access Control (NAC) Market provides a brief and detailed knowledge about key players, market state and circumstances that are covered deeply in this report. The business chain supporting the Network Access Control (NAC) market is analysed in detail covering accurate information about aspects such as the industrial chain, proficiency in utilization of the available capacity of manufacture, and industry strategies that affect the market.
Network Access Control (NAC) Market study offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain ruthless advantage. Network Access Control (NAC) Market Forecast provides sizing and growth opportunities. It provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market. it also includes a detailed analysis of growth drivers, challenges, and investment opportunities and delivers a complete overview of segments and the regional outlook of the market.
Global Network Access Control (NAC) industry was estimated over USD 551.6 million in 2014 and is anticipated to be worth USD 4.39 billion by 2022, with a CAGR at 30.2%. Increasing rate of data thefts and cyber-attacks have resulted in the development of Network Access Control that provide solution to combat these problems. NAC solutions have been accepted on a large scale at a rapid pace in order to ensure safety from malware attacks, hackers and malicious software thereby leading to a need for secure network infrastructure.
Extensive adoption of Machine to Machine (M2M) networks and Internet-of-Things (IoT) has added significantly in upholding the industry prospects. It is capable of efficiently facilitating the changing enterprise network and regulatory scenario. The Bring Your Own Device (BYOD) trend plays a major role in accelerating the demand for Network Access Control solutions. Improved ease of deployment, reduced system complexity and enhanced effectiveness of these products has further steered the market growth. Improvements in technological proliferation, Network Access Control platforms, endpoint visibility remediation along with configuration assessment have resulted in market expansion. In an attempt to improve the efficacy of perimeter network defenses, Network Access Control is being widely implemented into security platforms.
NAC software is used in BFSI and government sectors. Regulatory compliance requirements such as Payment Card Industry Data Security Standard (PCI DSS) and Control Objectives for Information and Related Technology (COBIT) are forcing organizations to adopt the network access control solutions. Growing emphasis on web-based business services in these sectors is expected to compel growth over the review period. To satisfy the strict security requirements, government agencies often invest in Network Access Control solutions to filter unauthorized networks and device connections. These services ensure continued businesses while managing security threats. Risk management efforts and endpoint intelligence have been accentuated to a great extent in financial institutions, SMBs units and IT enterprises. It has consequently propelled demand for Network Access Control products and has led to market growth. However, the market is expected to witness slowdown in growth due to lack of scalability among the products.
The Network Access Control market, based on the type, has been categorized into two types; software and hardware. The software segment contributed to approximately 42.0% of the total market revenue in 2014. It is projected to exceed 45% by 2022 owing to the growing demand for software solutions on account of increasing malware attacks and cybercrime rate
On the other, the hardware segment constituted nearly 58% of the total market revenue in 2014 and is anticipated to be the primary solution vertical from 2015 to 2022. This segment comprises of gateway routers, Small Form-Factor Pluggable trans-receiver modules (SFP) and Network Access Servers (NAS). The gateways consist of multi-homing VPN security gateways and Unified Threat Management content security gateways (UTM) that offer secure network connections. Users are provided with internet access post authentication through an independent service providers (ISP) facilitated by NAS.
Based on the end-use, these solutions have been segmented into the government, BFSI, academia, manufacturing, healthcare, telecommunications and IT. The other segment includes transportation, media and entertainment, and retail. In 2014, the BFSI sector is anticipated to be the leading end-user over the forecast period which constituted for nearly 29% of the total revenue. The rising need for carrying out safe and protected transactions has impelled banks and financial institutions to make use of network security solutions. Government institutions are prospective targets for hackers in order to gain political gains and important information. These solutions have helped governmental organizations in curbing data theft activities and safeguarding confidential files from hackers.
The North American continent is expected to showcase substantial growth and become a lucrative market worldwide in the foreseeable future. Numerous players have been focusing on investing in various solutions. This has increased its growth prospects in the regional market.
Continuous efforts to develop hardware and software solutions for customers in order to resolve challenges associated to network security are expected to influence market growth positively. It offers a wide range of functionalities including identity-driven LAN security solutions. Asia Pacific is expected to yield significant profits in the region for this industry. Growth in the region can be majorly attributed to rising acceptance of social, cloud and mobile technologies. Key market players including Bradford Networks, Aruba Networks, Check Point Software Technologies, Forescout, Juniper Networks, Cisco, Portnox, Pulse Secure, Trustwave and Vendors StillSecure, Sophos are continuously emphasizing on implementing added objectives and reducing decision problems while incorporating of Network Access Control solutions.