Network Access Control (NAC) Market to Generate US$ 9.4 Bn Revenue by 2022-2030
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| Network Access Control Market |
A) Market Overview:
The global Network Access Control (NAC) Market is estimated to be valued at US$ 9,397.7 Mn in 2022 and is expected to exhibit a CAGR of 8.2% over the forecast period of 2022-2030, as highlighted in a new report published by Coherent Market Insights. Network Access Control (NAC) is a method used to enforce security policies and authenticate users accessing a network. It provides several advantages such as enhanced network visibility, improved compliance, reduced risk of unauthorized access, and protection against network-based threats. With the increasing dependency on digital connectivity and the rising need for secure network access, the demand for NAC solutions is expected to witness significant growth in the coming years.
B) Market Key Trends:
One key trend in the Network Access Control (NAC) market is the adoption of cloud-based NAC solutions. Cloud-based NAC offers numerous benefits including improved scalability, reduced infrastructure costs, and simplified management. It allows organizations to centrally manage network access control policies across distributed networks, providing seamless and secure access to authorized users. Additionally, cloud-based NAC solutions enable real-time monitoring and threat detection, enhancing network security. The growing popularity of cloud computing and the need for flexible and scalable security solutions are driving the demand for cloud-based NAC solutions in various industries, including healthcare, government, and banking. This trend is expected to continue and contribute to the growth of the NAC market over the forecast period.
Segment Analysis:
In the Network Access Control (NAC) market, the main segments can be divided based on deployment type, end-user, and industry vertical. One of the dominating sub-segments is the cloud-based deployment of NAC solutions. With the increasing adoption of cloud computing and virtualization technologies, organizations are opting for cloud-based NAC solutions due to their flexibility, scalability, and cost-effectiveness. Cloud-based NAC solutions provide centralized control and management of network access from a single platform, making it suitable for organizations of all sizes. Moreover, these solutions offer real-time visibility and monitoring capabilities, enhancing network security and reducing the risk of unauthorized access.
Another important segment is the healthcare industry vertical. With the increasing digitization of healthcare records and the prevalence of connected medical devices, healthcare organizations are facing challenges in securing their networks and protecting patient data. NAC solutions play a crucial role in ensuring the security and integrity of healthcare networks by providing granular access control, device profiling, and enforcement of security policies. The healthcare industry is witnessing increased adoption of NAC solutions to comply with regulatory requirements and safeguard sensitive patient information.
Key Takeaways:
The global Network Access Control (NAC) Market Share is expected to witness high growth, exhibiting a CAGR of 8.2% over the forecast period (2022-2030). This growth can be attributed to several factors. Firstly, the increasing frequency and sophistication of cyber-attacks and data breaches are driving the demand for robust network security solutions, such as NAC. Organizations across various industries are realizing the importance of securing their networks to protect sensitive information and prevent unauthorized access, thereby boosting the adoption of NAC solutions.
Regionally, North America is expected to be the fastest growing and dominating region in the NAC market. This can be attributed to the high concentration of major players and the increasing awareness about network security among organizations in this region. The presence of stringent data protection regulations, such as the Health Insurance Portability and Accountability Act (HIPAA) and the Payment Card Industry Data Security Standard (PCI DSS), is also driving the adoption of NAC solutions in North America.
Key players operating in the Network Access Control (NAC) market include Auconet, Inc., Avaya, Inc., Bradford Networks, Cisco Systems, Inc., Extreme Networks, Inc., Forescout Technologies, Inc., Hewlett Packard Enterprise Development LP, Impulse Point, Key Innovator, Portnox, and Pulse Secure, LLC. These key players offer a wide range of NAC solutions, catering to the diverse needs of organizations. They focus on strategic partnerships, product innovation, and mergers and acquisitions to gain a competitive edge in the market. Their strong market presence and technological expertise contribute to the overall growth of the NAC market.
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