San Francisco, California, Feb. 08, 2016 (GLOBE NEWSWIRE) -- The global NAC market size is expected to reach USD 4.39 billion by 2022, according to a new report by Grand View Research, Inc. Technological proliferation and demand for endpoint intelligence& risk mitigation have led to high demand for NAC solutions. A significant rise in the use of Internet-of-Things (IoT) and Machine to Machine (M2M) networks is expected to trigger growth in the industry. Network Access Control is being perceived as a solution proficient of addressing the dynamic enterprise and regulatory scenario.
The market is anticipated to gain traction in North America as several vendors are keen on investing in the network access control solutions. It is perceived to be a highly lucrative business which leads to several large-scale investments contributing to significant growth in the region.
Presence of developing countries such as India and China presents several opportunities for growth in the Asia Pacific region. Cloud-based social and mobile technologies are being adopted extensively in the region. Hence, the NAC solutions are expected to gain traction in the Asia Pacific region.
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Online frauds, cyber attacks, and malwares can immensely affect organizational functioning; hence, web-based businesses are widely implementing security solutions to manage network security risks to ensure business continuity.
Governmental organizations and agencies are increasingly adopting Network Access Control solutions to filter unauthorized device connections, networks, and users. Regulatory compliance requirements such as Payment Card Industry Data Security Standard (PCI DSS) and Control Objectives for Information and Related Technology (COBIT) are driving market growth.
The ever-increasing demand for secure network infrastructure is anticipated to drive the need for effective NAC solutions to provide real-time network security. Web-based businesses are experiencing tremendous growth and it has led to the expansion of e-commerce websites. These websites demand highly protected infrastructure for carrying out safe and secure transactions.
The advent of online banking has taken the BFSI vertical by storm. These institutions constantly demand for high-end technology to help them combat against hackers and malwares. The NAC industry is expected to benefit impressively in this vertical. Financial institutions and IT and telecommunication companies have emphasized on endpoint intelligence and risk management efforts. These steps are expected to boost industry growth.
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Several vendors have focused on adding functionalities such as pre-connect and post-connect to these controls. Major efforts are being made in resolving the interoperability issues of NAC. Key players dominating the network access control ecosystem are Check Point Software Technologies, Bradford Networks, Aruba Networks, Portnox, Juniper Networks, ForeScout, Cisco, Sophos, StillSecure, Pulse Secure, and Trustwave.
Further key findings from the report suggest:
- Software solutions accounted for over 40% of the overall market share in 2014, and are expected to trigger consistent demand over the forecast period. These solutions help in controlling, defining, and implementing secure access policies to network nodes and terminals.
- Projected to grow at an estimated CAGR of over 29% from 2015 to 2022, BFSI vertical is expected to witness healthy growth. Use of NAC products provides secure network infrastructure and ensures business-continuity.
- Asia Pacific regional market is on the brink of high growth throughout the forecast period. It accounted for close to 17% of the overall revenue share in 2014. Increasing adoption of cloud based and mobile technologies is leading to proliferation of Network Access Control.
Grand View Research has segmented the global Network Access Control market on the basis of type, service, end-use, and region:
Network Access Control Type Outlook (Revenue, USD Million, 2012 – 2022)
Network Access Control Service Outlook (Revenue, USD Million, 2012 – 2022)
- Training, support, and maintenance
Network Access Control End-Use Outlook (Revenue, USD Million, 2012 – 2022)
- IT and telecommunications
Network Access Control Regional Outlook (Revenue, USD Million, 2012 – 2022)
- North America
- Asia Pacific
- Latin America
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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