Network Access Control Market Is Estimated To Witness High Growth Owing To Growth in Security Threats

Network Access Control Market

The Network Access Control Market is estimated to be valued at US$ 11002.11 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Network access control allows controlling network access to devices, determining compliance and granting or denying access to resources based on a set of rules. It authenticates users and devices before granting network access. NAC helps secure networks from malware, data theft and network misuse through real-time monitoring and enforcement of policy.

Market key trends:
The rising security threats have prompted organizations to adopt robust access control systems. Increasing instances of cyber-attacks such as ransomware, phishing and data breaches have raised concerns about data security. According to Cybersecurity Ventures, damages due to cybercrime may cost the world over $10.5 trillion annually by 2025. As traditional perimeter-based security solutions are failing to prevent attacks, enterprises are increasingly implementing NAC solutions to monitor network health, detect anomalies and respond dynamically. NAC enables continuous endpoint compliance checks and visibility into all devices and users connected to the network. This is helping enterprises strengthen security posture and minimize the impact of security breaches.

Porter’s Analysis
Threat of new entrants: Low capital requirements and established brands make entry difficult for new players in the Network Access Control market.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and flexibility to switch between vendors.
Bargaining power of suppliers: A few major players dominate the supply market, giving them significant bargaining power over buyers.
Threat of new substitutes: Alternatives like firewalls provide similar functionalities posing threat of substitution.
Competitive rivalry: Intense competition exists among dominant players to gain market share through product innovation and strategic partnerships.

SWOT Analysis
Strength: Network Access Control offers centralized security management and visibility.
Weakness: High implementation and maintenance costs. Initial setup requires extensive configuration.
Opportunity: Growing adoption of IoT and BYOD trends increases need for secure network access management.
Threats: Concerns around data privacy and security breaches can impact market acceptance.

Key Takeaways
Global Network Access Control Market Size is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing demand for centralized network access management across industries.

North America dominates currently due to stringent regulatory standards and early adoption of advanced access management solutions. The Asia Pacific region is expected to grow at fastest pace owing to growing IT infrastructure and digital initiatives in countries like China and India.

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. Auconet offers NAC solutions for device visibility and control. Cisco's Network Access Control helps enable secure access to resources on wired and wireless networks. Forescout provides device visibility and control, segmenting and monitoring connected devices. 

Read MoRe- https://www.newsstatix.com/network-access-control-market-outlook-analysis-and-overview/