The global Network Access Control Market is estimated to be valued at US$ 9,397.7 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Network access control solutions enable organizations to authenticate, authorize, and audit systems on their network. It ensures that only authorized users and devices can access applications and services. The solutions allow secure guest and employee access to enterprise networks and secure IoT devices.
Market key trends:
One of the key trends in the network access control market is the increased adoption of cloud-based NAC solutions. The cloud-based deployment model provides NAC functionality as a service and eliminates the need for hardware infrastructure. This reduces upfront capital expenditure and offers benefits such as remote management, scalability, and pay-as-you-go pricing. The cloud-based NAC solutions are gaining popularity among small and medium enterprises due to their low cost of implementation and management. This growing adoption of cloud-based infrastructure is fueling the growth of the cloud infrastructure as a service segment in the global network access control market.
Segment Analysis
The global network access control market can be segregated based on component, deployment mode, organization size, verticals, and region. Based on components, the market has been bifurcated into solutions and services. The solutions segment held the largest share of the global market and is expected to remain dominant over the forecast period. This is attributed to the increasing adoption of network access control solutions across various industries to curb security breaches and protect critical assets from unauthorized access.
Key Takeaways
The global network access control market is expected to witness high growth, exhibiting a CAGR of 8.2% over the forecast period, due to increasing cyber security threats and stringent government regulations. The global market for network access control was valued at US$ 9,397.7 Mn in 2023.
Regional analysis North America dominated the global market in 2023 and is expected to maintain its dominance over the forecast period. This is attributed to large presence of key players and rising adoption of advanced network security solutions across enterprises in the region.
Key players operating in the network access control market are 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. Key players are focusing on new product launches and partnerships to expand their global footprint and gain more market share
