Network Access Control Market By Types, Deployment Type, End-Users & Region - Forecast 2020 - 2027

 

Network Access Control Market

An Advanced Security Solution called Network Access Control (NAC) guards against unauthorized endpoints like laptops, smartphones, printers, and other gadgets. Network access control (NAC) secures network vulnerabilities and guards against malware on private networks. Network access control also recognizes users, their devices, and their network roles. Furthermore, it can be integrated with the current security platforms to boost network security and effectiveness.

The market for network access control is anticipated to grow significantly over the forecast period (2020–2027). Numerous benefits that network access control provides to users are largely responsible for the market growth of this technology. For instance, in NAC, multi-factor authentication is necessary for end users, which is a much more secure method of user identification than using IP addresses or a username and password combination.

The Global Network Access Control Market Was Valued At US$ 8.32 Bn In 2019 And Is Expected To Reach US$ 15.59 Bn By 2027 At A CAGR Of 8.2% Between 2020 And 2027.

High implementation costs are the main factor limiting the growth of the Global Network Access Control Market. Due to its advantages, NAC solutions are being adopted by businesses, but their implementation costs time and money. NAC solutions, for instance, range in price from $10,000 to $1,000,000, according to Coherent Market Insights analysis, depending on the need and size of the business (number of end-user devices). The business must also supply auxiliary infrastructures like an IT department, network administration & security, and other things. All of these things cost time and money.

Network Access Control Market Segmentations-

·        By Type: Hardware, Software, and Services

·        By Deployment Type: On-Premises and Cloud

·        By End-use Industry: Banking and Financial Services, Healthcare & Life Sciences, Government, Education, IT & Telecom, and Other

According to IMF analysis, the world economy is anticipated to contract by 3% in 2020 compared to 2019. Companies all over the world are having trouble staying in business. Companies have begun allowing employees to work from home. Network access control aids businesses in putting policies in place to manage how users and devices access their networks. Network access control aids in establishing policies for location-, role-, device-, and resource-based access as well as enforcing security compliance. Thus, over the course of the forecast period, the trend toward remote work is anticipated to fuel demand for network access control solutions. Network access solutions must be implemented, which costs money and takes time.

The BFSI industry segment is anticipated to dominate the global network access control market among end-use industries over the course of the forecast period due to the growing safety concerns in the banking industry and the high volume of traffic that banks receive from both internal staff and external personnel like clients, consultants, partners, and others. The bank must deliver data with security as its top priority. Thus, it is anticipated that as online banking becomes more widely used, the demand for network access solutions in the banking industry will increase. The Coherent Market Insights analysis predicts that the global online banking market will grow at a CAGR of 19.2% between 2020 and 27.

Major Companies involved 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

Read the Complete Press Release of Network Access Control Market

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