Global micro-segmentation solutions market is projected to grow significantly in the forecast period owing to its increasing applications in mobile and connected devices. Micro-segmentation is a security practice that integrates security into virtual network without hardware-based firewall. Micro-segmentation reduces increasing hardware prices, curbs firewall rule sprawl, improves performance efficiency of network, caters needs of departments & line of business (LOBs) and helps in forecasting.
The factors that driving market are growing rate of cyber-attacks, which is a threat for data storage in the network. Adoption of virtual and multi-cloud data centers is growing with the number of organizations and impelling micro-segmentation solutions market. Moreover, the benefit of reducing security budget is accelerating the demand for more efficient micro-segmentation solutions. However, market is restrained by complicated mechanism for secured micro-segmentation solutions.
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Governments are sluggishly adopting micro-segmentation solutions technology for enhancing security protocols. Besides, micro-segmentation solutions market is witnessing remarkable growth opportunities in retail, healthcare, and media & entertainment sector since they are being adopted at a good pace, thereby boosting micro segmentation solutions market. Another trend affecting micro segmentation solutions market is the increasing application of cloud-based technology.
The market is categorized on the basis of component, deployment, industry vertical and geography. On the basis of component, market is divided into software, hardware, and services. Services segment is expected to hold larger share of the market owing to its increasing adoption. Based on deployment, market is divided into on premise and cloud. Cloud segment is further classified into private, public and hybrid. Cloud based segment is expected to lead the market owing to its increasing applications.
In terms of industry vertical, market is split into telecommunications, Banking, Financial Services and Insurance (BFSI), government, retail, healthcare, education, media & entertainment and others. Banking, Financial Services and Insurance BFSI segment is expected to lead the market owing to constant technological innovations required to meet demands from different sectors.
Geographically, market is segmented as North America, Europe, Asia Pacific and Middle East & Africa. Owing to the developing IT infrastructure and growing number of data centers, North America followed by Asia Pacific are expected to dominate micro-segmentation solutions market in the years to come. The major players in this market are vArmour, Cisco, Vmware, Juniper Networks, and Unisys.
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The market is divided into the following segments based on geography:
Global Micro-Segmentation Solutions Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
• Juniper Networks
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