2032, An In-Depth Analysis of the Network Access Control (NAC) Market Trends and Growth Opportunities
The Network Access Control (NAC) market has been experiencing steady growth by increasing demand for network security solutions, and the rise in cyber threats.
PORTLAND, PORTLAND, OR, UNITED STATE, March 28, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Network Access Control Market,” The network access control market size was valued at $2.6 billion in 2022, and is estimated to reach $16.2 billion by 2032, growing at a CAGR of 20.6% from 2023 to 2032.
Network access control is a significant security approach that is crucial for restricting access to private networks and sensitive resources. It enforces policies on endpoints to ensure that only authorized and compliant users and devices are allowed to enter the network. In addition, by improving cybersecurity and compliance, network access control protects businesses from malware, ransomware, and unauthorized access to sensitive data. These solutions offer total network visibility, instant user profiling, guest networking management, internal access management, and network management. Moreover, the proliferation of devices and users is hard to map and monitor, making complete network visibility challenging. Therefore, network access control solutions solve this issue by mapping every device that connects to a network infrastructure and implementing policies covering every authorized user.
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The growth of the network access control market is predominantly fueled by several key determinants. As cyberattacks become more sophisticated and frequent, organizations prioritize robust network security. In addition, information privacy policies such as GDPR and HIPAA require organizations to enforce robust protection controls to defend sensitive records. Furthermore, the growing use of cloud computing and rise of remote work bring your own device (BYOD) policies blurs traditional network boundaries. Moreover, increased awareness of network security risks, growing adoption of mobile devices and wireless networks, and the need for improved network visibility and control, are expected to provide lucrative opportunities for the network access control market during the forecast period. However, lack of skilled security professionals and high implementation cost, hamper the growth of the market.
Based on deployment type, the global network access control market share was dominated by the on-premise segment in 2022 and is expected to maintain its dominance in the upcoming years, it typically involves hardware and software solutions that authenticate and authorize devices seeking access to the internal network. However, the cloud segment is expected to witness the highest growth. cloud-based network access control solutions often offer advanced analytics and reporting capabilities. This helps in identifying vulnerabilities and strengthening security measures. Furthermore, cloud-based network access control solutions often eliminate the need for substantial on-premises hardware and maintenance costs.
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Based on organization size, the large enterprise segment held the highest market share in 2022, accounting for nearly two-thirds of the global network access control market revenue as network access control solutions help large enterprises to manage and control access across the diverse network environments, and ensure authorized, and complies with security policies. However, the small enterprises and medium-sized enterprises is projected to attain the highest CAGR of 22.4% from 2023 to 2032, owing to adoption of cloud-based network access control solutions in SMEs due to their scalability and ease of management. As cloud-based network access control offer feasible option for SMEs within limited resources for infrastructure management.
By region, North America dominated the network access control industry share in 2022 for the network access control market. The increasing investment of businesses and government bodies in advanced technologies such as cloud-based services, AI, ML, and IoT to improve businesses and the customer experience are anticipated to propel the growth of the market. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. This is attributed to the increase in penetration of digitalization and higher adoption of advanced technology are expected to provide lucrative growth opportunities for the market in this region.
The report focuses on growth prospects, restraints, and trends of the network access control market analysis. The study provides Porter‐™s five forces analysis to understand the impact of various factors, such as the bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the Network access control market.
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Leading Market Players: –
• Broadcom
• Cisco Systems, Inc
• Extreme Networks
• Fortinet, Inc.
• Hewlett Packard Enterprise Development LP
• Huawei Technologies Co.
• IBM Corporation
• Juniper Networks, Inc.
• Microsoft Corporation
• VMware, Inc.
The report provides a detailed analysis of these key players in the global network access control market. These players have adopted different strategies such as expansion, merger, and product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Furthermore, the Internet of things has become a vital tool for companies in diverse sectors. Flow of sensitive data in IoT devices such as automated equipment, sensors, smart grids, and even IoT-connected vehicle fleets can be regulated and protected through adaptive network access control solutions. NAC solutions can connect large numbers of IoT devices securely and systematically, ensuring that no rogue devices are left unmapped. This also applies to the proliferation of medical devices connected to the IoT. For instance, in November 2020, VMware, Inc. launched a modern network framework to enable businesses, and their IoT and application development teams, to accelerate adapting enhanced network access control services. These factors boost the growth and adoption of the network access control market.
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