From GlobeNewswire: 2024-11-19 09:00:00

The Network Security Policy Management market was valued at USD 19.49 billion in 2023 and is projected to reach USD 36.28 billion by 2032, with a CAGR of 7.17%. This growth is driven by the shift to multi-cloud and hybrid IT setups, increasing the demand for NSPM tools to secure complex network infrastructures.

Key players in the NSPM market are developing cloud-native solutions tailored to enterprise needs, ensuring smooth integration and adapting to diverse network environments. Despite high initial costs, the demand for automated cybersecurity solutions is growing, supported by advancements in automation and AI.

Large enterprises dominated the NSPM market in 2023, with a 72.25% share, driven by complex network infrastructures and the need for robust security solutions. SMEs are the fastest-growing segment, recognizing the importance of comprehensive security policies in the face of advanced cyber threats. The SME sector holds strong potential for NSPM adoption.

North America leads the NSPM market, with a well-established IT infrastructure and high adoption of security solutions. The market is driven by companies transitioning to cloud infrastructures and the need for secure network access for remote employees. Enhanced AI capabilities in NSPM tools make them more appealing to organizations. The NSPM market in North America is experiencing growth due to major vendors like Palo Alto Networks and Fortinet, firm cybersecurity regulations, and increasing cyber threats. The adoption of cloud and hybrid IT environments is driving investments in NSPM for network security.

In the Asia-Pacific region, the NSPM market is growing rapidly with the highest CAGR, driven by digital transformation, cybersecurity awareness, and increasing cloud adoption. Governments are enhancing cybersecurity frameworks, leading to demand for compliant NSPM tools and investments in IT infrastructure for cyber-safe systems.



Read more at GlobeNewswire: Network Security Policy Management Market to Reach USD 34.2