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Network security market size to surpass USD 54.37 billion by 2030

According to Fortune Business Insights, global network security market size was valued at USD 21.43 billion in 2022 and is projected to grow from USD 23.83 billion in 2023 to USD 54.37 billion by 2030, exhibiting a CAGR of 12.5% during the forecast period. Growing Threat of Cyberattacks at Network Point to Boost Market Progress. Fortune Business Insights™ displays this information in a report titled, Network Security Market Forecast, 2023-2030.

The growing internet penetration and rising network of startups in developing nations are expected to boost the adoption of smart network security solutions. Many end-user companies are following the Bring Your Own Device (BYOD) trend that needs a secure network connection. Many industry verticals, such as retail and healthcare, constantly face network safety issues, which is further expected to boost the network security market growth.

Key Takeaways

  • The rising number of startups and increasing internet penetration across developing countries will drive the demand for advanced software.
  • Increasing Trend of Remote Working Practices Boosted the Demand for Network Security Solutions
  • Rising Trend of Implementing 5G across Large Organizations to Boost Market Growth
  • By Type Analysis: Firewall to Gain Traction Backed by Increasing Adoption of Solutions
  • Cybersecurity Firm Trellix Announced Increase in Its Threat Intelligence Offerings

Fortune Business Insights

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