According to a report by Grand View Research, Inc., global network security sandbox market is estimated to value USD 40.48 billion by 2025. Growing number of cyber security breaches coupled with convergence between internet of things (IoT) and information technology are anticipated to propel demand for network security sandbox.
Steady development of innovative anti-malware gateways from leading companies involved in cyber security is expected to fuel growth of market. Increasing number of advanced persistent threats (APT) and cyber-crimes to breach data security in organizations is anticipated to spur growth of market in the forthcoming years. Incorporation of IOT and artificial intelligence into network security sandbox offering automated integration between hardware, software, and consumer can stimulate market growth during the forecast period (2014 to 2025).
To cater to rising demand, most companies are investing in R&D activities to develop advanced network security sandbox technology. For instance, Kaspersky recently unveiled its advanced cybersecurity platform that can utilize a comprehensive set of technologies to detect previously unknown threats and targeted cyber-attacks. The accuracy is likely to be achieved through correlation algorithms, machine learning threat analysis, advanced sandbox technology, and network traffic analysis. Several factors such as high-power consumption, huge installation costs, and lack of technical expertise can challenge market growth.
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The network security sandbox market can be segregated on the basis of solution, services, application, and region. Based on solution, the market can be bifurcated into integrated and standalone. Integrated solution segment is presumed to grow fast at a phenomenal CAGR of 53.7% from 2017 to 2025. Development of virtual server and cloud technologies are likely to fuel demand for implementation of integrated network security solutions in organizations.
In addition, the standalone solution segment is also anticipated to dominate the market. This can be attributed to high demand from small and medium businesses. Lack of legislation and control to safeguard essential information from hackers is likely to boost demand for network security sandbox solutions in small and medium businesses.
Based on services, the market can be classified into network security maintenance, professional consulting, and product subscription. The product subscription segment is likely to dominate the market by 2025. Key market players are expected to offer trail versions of software to their clients to get an idea about available services. In addition, market players are also expected to resolve all queries and problems faced by clients during subscription term. On the contrary, the professional consulting can also grow at CAGR of 53.5% from 2017 to 2025. Such consultancy services are likely to assess and eliminate potential threats to private data and financial information.
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Based on application, the market can be segmented into retail, BFSI, education, public sector, defense, and others. The retail segment is predicted to dominate the market and generate revenue equivalent to USD 753.4 million by 2025. Continuous technological developments are likely to support retailers in delivering best online digital engagement to their consumers. In addition, cyber-attacks and vulnerabilities are expected to demand implementation of software-as-a-service (SaaS) application and other advanced in-store technologies.
The public sector segment can also exhibit at CAGR of 53% during the forecast period. Possibility of misuse or leak of vital and legal information stored on public sector networks can drive product demand. Implementation of secure framework in public sector companies can prevent possible cyber threats and attacks.
Regional segmentation includes Europe, North America, Asia Pacific, and Rest of the World (RoW). In 2016, North America region had accounted for revenue share of 47.3% and is likely to reach USD 17 billion by 2025. High prevalence of industries demanding network security sandboxing solutions is anticipated to propel market growth in the region.
In addition, Asia Pacific is expected to grow at fast rate owing to presence of economies such as India, China, and Australia. In addition, growing adoption of network security in the retail sector can influence regional growth. Moreover, high demand for network security technology in BFSI domain to guard sensitive information regarding consumers can also fuel market growth in this region.
Some of the leading companies offering network security sandbox are Cisco; Check Point Software Technologies Ltd; FireEye, Inc.; Fortinet, Inc.; and McAfee, Inc.
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