July 18, 2024
NETWORK ACCESS CONTROL MARKET

Network Access Control Market Is Estimated To Witness High Growth Owing To Increasing Need for Securing Network Infrastructure

The global Network Access Control Market is estimated to be valued at US$ 9,397.7 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Network access control refers to a security solution that enables organizations to ensure the integrity and security of their network infrastructure. It provides visibility and control over access to the network by authenticating and authorizing devices and users. The implementation of network access control solutions helps organizations protect against unauthorized access, malware, and other security threats. This has become increasingly crucial in the face of rising network attacks and data breaches. Network access control solutions offer several advantages, including improved network visibility, enhanced security posture, and compliance with regulatory requirements.

Market Key Trends:

One of the key trends observed in the network access control market is the increasing adoption of cloud-based network access control solutions. Cloud-based solutions offer several benefits such as scalability, ease of deployment, and cost-effectiveness. These solutions enable organizations to centrally manage access control policies and enforce security measures across their network infrastructure, regardless of the location of devices. In addition, cloud-based network access control solutions provide real-time visibility into network activities and facilitate quick threat response.

Furthermore, the market is witnessing a growing demand for network access control solutions in industries such as healthcare, IT and telecommunications, and banking and finance. These sectors handle sensitive data and have stringent compliance regulations, making network security a top priority. Network access control solutions help these industries ensure the confidentiality, integrity, and availability of their sensitive information.

In conclusion, the network access control market is expected to experience high growth due to the increasing need for securing network infrastructure. Cloud-based solutions and the demand from key industries are key trends driving the market forward.

PEST Analysis:

Political: The political landscape plays a significant role in the network access control market. Government regulations and policies regarding data privacy and cybersecurity can influence the adoption of network access control solutions. For example, increasing government initiatives to strengthen cybersecurity regulations can drive the demand for network access control solutions.

Economic: The economic factors impacting the network access control market include overall economic growth, investment in IT infrastructure, and budget allocation for cybersecurity. With the rising digital transformation initiatives and increasing reliance on cloud-based services, organizations are expected to allocate a significant portion of their budgets towards network access control solutions to safeguard their networks.

Social: The growing awareness about the importance of data protection and privacy among individuals and organizations is a significant social factor impacting the market. As cyber threats continue to evolve, there is a heightened concern among businesses and individuals to protect their sensitive data from unauthorized access, driving the adoption of network access control solutions.

Technological: Technological advancements such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) are influencing the network access control market. The integration of these technologies with network access control solutions enables organizations to identify and respond to potential security threats in real-time, enhancing network security and efficiency.

Key Takeaways:

The Global Network Access Control Market Growth  is expected to witness high, exhibiting a CAGR of 8.2% over the forecast period (2023-2030). The market size for 2023 was valued at US$ 9,397.7 Mn. The increasing need for data protection and privacy, along with the rising number of cyber threats, is driving market growth.

In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the network access control market. This can be attributed to the presence of several key players in the region, technological advancements, and stringent data privacy regulations imposed by the government.

Key players operating in the network access control market include Auconet, Inc., Avaya, Inc., Bradford Networks, Cisco Systems, Inc., Extreme Networks, Inc., Forescout Technologies, Inc., Hewlett Packard Enterprise Development LP, Impulse Point, Key Innovator, Portnox, and Pulse Secure, LLC. These companies play a crucial role in driving market growth through product innovation, strategic partnerships, and mergers and acquisitions.

 

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