The Network Access Control Market Has Garnered a Market Value of US$ 2.1 Bn In 2022

UNITED STATES, July 12, 2022 /EINPresswire.com/ -- Fact.MR expects the global network access control market to reach US$ 15.37 Bn by the end of the 2022-2032 forecast period, registering a value CAGR of over 22%. Extensive reliance on virtual platforms by key industry verticals and the resultant vulnerability to cybersecurity threats has heightened uptake in recent years.

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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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

Market Competition
The 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.

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How attractive is the Network Access Control Market in the U.S?

The U.S. market will continue being the most lucrative market for network access control, with an ever-expanding growth of large and small & middle-sized enterprises. The region remains one of the earliest adopters of endpoint devices, some of the prominent ones being smartphones, laptops, and tablets, thereby laying the foundation of steadfast adoption of network access control solutions.

The US continues to be at the forefront of the demand for NAC, with an ever-increasing number of enterprises getting aware of the benefits of network access control with respect to business operations, finds Fact.MR. A revenue share worth 45% is projected for the U.S market.

Key Market Segments in Network Access Control Industry Research
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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Which Deployment Type is expected to dominate the Market?
The cloud segment holds the largest market share owing to the increasing adoption of cloud-based technology across various industry verticals. Benefits such as high storage capacity, centralized access, high speed, and reliability are the main driving factors. A CAGR of 15% is anticipated for this segment.

Which Vertical of Primary Network Access Control?
The IT and Telecom sector is the leading end-user of the network access control systems owing to the advancements taking place in the industry. According to Fact.MR, a market share worth 60% is projected for the IT & Telecom sector in the upcoming forecast period.

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