London, 04 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the global network security appliance market 2015-2019, which is expected to grow moderately at a CAGR of 11.08% during the forecast period of 2014-2019.
Several macro factors influencing the market are globalization, the increasing prevalence of social networks, and the sophistication of hacker tools. On a micro level, customer-specific level the need to secure businesses from increasing vulnerabilities, the need for solutions that are manageable, and the need for vendors to be competitive in the market are contributing to overall market growth.
“It is expected that the high demand for SaaS-based security solutions will help the market grow at a significant rate during the forecast period,” says Faisal Ghaus, Vice President of Technavio.
“The demand for SaaS-based security solutions is increasing because of their significant advantages such as easy installation, easy upgrade, cost advantages, and signature independent scanning.”
Key Market Drivers
- High Impact of Cyber-attacks
- Growing Demand for Integrated Security Solutions
- Compliance with Multi-regulatory Environments
- Rise in Sophisticated Threats
Key Market Trends
- Growing Demand for SaaS-based Security Solutions
- Increased Monitoring of Network Activity and Bandwidth Consumption
- Incorporation of Forensic Analysis Capabilities
- Demand for Additional Security Features
Key Market Vendors
- Check Point Software Technologies Ltd.
- Cisco Systems Inc.
- Fortinet Inc.
- Juniper Networks Inc.
- Palo Alto Networks Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
