April 20, 2024
Microsegmentation Market

The global Microsegmentation Market is estimated to Propelled by improved customer experience and reduced security risks

Microsegmentation products like network security software, firewalls and unified threat management systems help organizations improve customer experience by segmenting network traffic and restricting access between applications, users and infrastructure components. This fine-grained approach to network security reduces risks of malware infections and data breaches by isolating workloads and preventing lateral movement even if one system gets compromised.

The global Microsegmentation Market is estimated to be valued at US$ 2328.75 Mn in 2023 and is expected to exhibit a CAGR of 25% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The adoption of cloud-based microsegmentation solutions is growing rapidly driven by the improved customer experience and reduced security risks trend. By segmenting cloud network traffic and restricting east-west movement in public and private clouds, microsegmentation ensures workloads and applications in the cloud remain secure. It prevents unauthorized access of data between workloads within the same security zone if one gets compromised. This fine-grained security approach is driving increasing adoption of cloud-based microsegmentation solutions among organizations migrating applications and workloads to the cloud.

SWOT Analysis
Strength: Microsegmentation allows security architects to control access between applications within their own networks, which increases security and compliance. It overcomes the limitations of traditional firewalls by being applied at a more granular level.
Weakness: Microsegmentation requires extensive network monitoring and visibility tools to identify all communication channels between workloads. Any overlooked communication channels can reduce its effectiveness. The implementation and maintenance of microsegmentation also requires more resources and expertise compared to traditional security methods.
Opportunity: The rapid adoption of cloud computing and mobility trends is increasing the attack surface for enterprises. Microsegmentation caters well to complex multi-cloud environments by providing fine-grained security controls. It is seeing increased uptake as a strategy to minimize the impact of cyberattacks.
Threats: Non-standardized microsegmentation practices across the industry could pose security risks until maturity is achieved. Staying up to date with the continually evolving cyber threat landscape is another challenge for microsegmentation solutions.

Key Takeaways

The Global Middle East Conveyor Belts Market Growth is expected to witness high growth over the forecast period owing to the ability of microsegmentation to strengthen security in complex hybrid IT environments. The global Microsegmentation Market is estimated to be valued at US$ 2328.75 Mn in 2023 and is expected to exhibit a CAGR of 25% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

North America is expected to hold the highest market share in the microsegmentation market during the forecast period. This is attributed to stringent regulatory compliances for data security and privacy such as HIPAA and GDPR. Additionally, the region is an early adopter of advanced network security technologies and cloud computing. The presence of major solution vendors is also driving higher microsegmentation deployment.

Key players: Key players operating in the microsegmentation market are Cisco Systems Inc. (US), Akamai Technologies, Inc., Palo Alto Networks, Inc., Symantec Corporation, Okta, Inc., Forcepoint, LLC, Cyxtera Technologies, Sophos Group Plc, Google LLC, Microsoft, Inc., VMware Inc., Trend Micro Incorporated, Cloudflare, IBM Corporation, Fortinet, Check Point Software Technologies Ltd., Unisys, vArmour, Inc., OPAQ Networks, Inc., ExtraHop Networks, ShieldX, Bracket Computing Inc., Nutanix, and Cloudvisory. The market is fragmented with the presence of both global and regional players. Major players are focusing on product launches and partnerships to expand their market share and offerings.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it