Cloud Network Security Market - Segmented by Type of solution (Firewall, SSL VPN), End-user Industry (BFSI, Education, Manufacturing, Healthcare), and Region - Growth, Trends, and Forecast (2019 - 2024)

The Cloud Network Security Software Market was valued at USD 6,587.2 million in 2017, and is expected to reach USD 14,450.5 million by 2023, at a CAGR of 14.2% over the forecast period (2018-2023).The scope of the report includes insights on the solutions offered by major players, including providers of professional services and implementation-related solutions. The regions included in this study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The study also offers insights on various end user-based applications, such as manufacturing, government, healthcare, aerospace and defense, entertainment & media, and retail, etc.

Benefits of Early Stage Implementation is Driving the Market

The year 2017 shows new threats like Petya, Wannacry, Skype, Fireball, Delta Charlie, and others coming into action and threating to destroy all data if some ransom money to recover the data is not paid. Many individuals and organizations fell in this trap. Protection against cyber-attacks is becoming more important for industrial companies. Therefore, industries now consider its implementation right at the development stage for new machines, and throughout the entire life cycle.  It becomes essential in this regard to perform regular plan-do-check-act (PDCA) cycles, as prescribed in standard IEC 62443. During the specification, design, and development stages, industries concentrate on potential points of attack and draft protection mechanisms. Then, in the marketing phase, they actively look after protecting their products with information and updates.

Products Suit the Application-based Classification for Residential & Commercial Use

The application-based segmentation and product availability has also served for the positive demand for cloud network security software-based products in the market. Organizations opt for data encryption or other available means to safeguard information. Commercial usage varies from the military grade product and services used in defense, industry grade product, and services for the financial businesses to public usage products and services. Some network applications require uninterrupted connectivity vital for the operation of the business, while others require the network to be operated continuously with a tolerance to disruption allowed. These factors decide the application-based implementation and usage of the product and drive the market in their respective segments. A failure of communication can be catastrophic and huge in terms of finances in the aviation & defense sectors, driving the demand for top-end products.

Key Developments in the Market

• March 2018 - Sophos announced the expansion of its Sophos Phish Threat phishing attack simulator and training solution to Europe and Asia.
• February 2018 - Sophos announced Sophos Mobile 8, the latest version of its Unified Endpoint Management (UEM) and mobile security solution. This new version lets system administrators manage and secure corporate-owned and personal Mac, Windows, and mobile endpoints in the cloud-based Sophos Central management platform to deliver a simpler management strategy for businesses of any size.

The major players include -

IBM Corporation, Intel Corporation, Trend Micro Inc., Palo Alto Networks Inc., Cisco Systems Inc., Check Point Software Technologies Ltd, Fortinet Inc., Huawei Technologies Co. Ltd, F5 Networks Inc, Juniper Networks, Pulse Secure LLC, and Sangfor Technologies Inc. among others

among others.

Reasons to Purchase the Report

• Current and future global cloud network security software market analysis
• Performance of various segments in the market
• Analyzing different perspectives of the market with the help of Porter’s five forces analysis
• Segments and sub-segments expected to dominate the market
• Regions expected to witness expedited growth during the forecast period
• Latest developments, market shares, and strategies employed by the major market players
• 3 month analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Report

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