IT And Telecom End-Use Vertical Is Likely To Remain Dominant In Network Access Control Market By 2031

iCrowd Newswire
21 Nov 2022, 20:02 GMT+10

According to a recently published Fact.MR report, the global Network Access Control market is projected to grow at a compound annual rate (CAGR) of 22% between 2022 and 2032. The market is expected to reach US$ 15.37 Bn by the end of 2032.

The demand for Network Access Control Market is expected to rise over the forecast period and the market is projected to gain a global market size worth of US$ 2.1 Bn by the end of 2022.

From 2017 to 2021, the network access control industry registered stellar uptake, registering a CAGR worth 19%. Prospects further heightened during the COVID-19 pandemic, as entities looking to leverage personal and corporate data for malicious purposes spawned tremendously. This was an outcome of increased amounts of time spent on the virtual landscape, in the wake of stringent lockdowns.

With the parade of technological advances, growth in new security solutions for data protection against malicious attacks is imminent and is likely to unfold on various fronts. Network access control (NAC) has come a long way and a cohort of leading companies has come up with solutions to further underpin its evolution over these many years.

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How do IoT and BYOD Lay Solid Foundations for the Market Growth?

Onboarding devices in the case of large enterprises have been a major issue and nullifying the same with the help of access management tools, such as network access control, has been gaining significant momentum. As the new-age employees try to interweave their routines into mobile devices, IoT and BYOD (bring your own devices) are creating new profit pools for the market players to dive in.

The combined proliferation of mobile technologies, Internet of Things (IoT) is BYOD culture is bringing in new growth avenues for the market, however, a number of security challenges with such devices have hard-pressed enterprises to invest in NAC solutions.

With the number of connected devices growing rapidly, endpoints involved in network access control have become highly mobile than ever. Being capable of integrating with third-party systems for device validation, in addition to device profiling, is increasingly important for network access control systems to define IoT devices.

Key Segments Covered in the Network Access Control Industry Survey

Component Type

Network Access Control Hardware

Network Access Control Software

Network Access Control Services

Deployment Type

On-Premises Network Access Control

Cloud-based Network Access Control

Buyer Type

Network Access Control for Large Enterprises

Network Access Control for Small and Medium Enterprises

Vertical

Network Access Control for Banking and Financial Services

Network Access Control for Healthcare & Life Sciences

Network Access Control for Government

Network Access Control for Education

Network Access Control for IT & Telecom

Network Access Control for Other Verticals

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Competitive LandscapeThe competitive landscape of the network access control market is shaped by product innovation and strategic mergers & acquisitions. Auconet Inc., Cisco Systems Inc., CommScope Inc., CyberCyte, Extreme Networks Inc., Forescout Technologies Inc., and Fortinet Inc. are some prominent manufacturers of network access control.

In March 2020, Portnox announced the release of its Zero-Trust Remote Access-as-a-Service solution. Purpose-built to be layered over enterprise VPNs or virtual desktop infrastructure (VDI), the new cloud-delivered solution strengthens the security of remote access through VPN or VDI. The new solution helped the company to increase the remote access security for scaled-up remote users during the COVID-19 pandemic.

In November 2021, Cisco Canada and STEM Fellowship announced the launch of Canada's widest-reaching cybersecurity education program for high school students – the Cybersecurity Classroom Training Program (CCTP). The CCTP addresses the growing need for cybersecurity awareness and education and provides early exposure to the various tools, technologies, and career paths available in the IT and digital industries.

Key players in the Network Access Control Market

Auconet Inc.

Cisco Systems Inc.

CommScope Inc.

CyberCyte

Extreme Networks Inc.

Forescout Technologies Inc.,

Fortinet Inc.

Genians Inc.

Hewlett Packard Enterprises (HPE)

InfoExpress

IS Decisions

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Key Takeaways from the Market Study

Global network access control market to surpass US$ 2 Bn by the end of 2022

U.S to be an opportunistic market for network access control, securing a 45% market share

China to be the dominant market, accumulating a share of 55% from 2022-2032

By deployment, cloud-based network access control software to expand at a CAGR of 15%

3 out of 5 network access control software applications abound across the IT & Telecom sector

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Tags: Network Access Control Market, Network Access Control, Network Access