Network Access Control Market revenue to cross USD 20 Bn by 2028: Global Market Insights Inc.

The retail application in the network access control (NAC) market is poised to register a 35% CAGR by 2028 due to the rising digitalization across the retail sector.   

SELBYVILLE, Del., May 10, 2022 /PRNewswire/ -- The network access control (NAC) market size is expected to record a valuation of USD 20 billion by 2028, according to the most recent study by Global Market Insights Inc. The market growth is attributed to the rising internet penetration.

The increasing adoption of 5G networks is driving the network access control market demand. Companies are extensively expanding their 5G networks to provide enhanced network connection experiences to customers. For instance, in April 2021, Verizon expanded its 5G network in 21 U.S. cities such as Denver, San Francisco, Las Vegas, and Phoenix. It includes 100, 200, and 400 Mbps plans to serve small & large enterprise customers with no data limits.

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The integration and maintenance service segment held 40% of network access control market share in 2021 due to the increasing need to manage & control network infrastructure. Network access control has helped enterprises to transform their network infrastructure over the last decade and is projected to become more connected during the forecast period. The NAC integration & maintenance provides stack adjusting, high-data transmission limit, application-level blunder administration, repetition, and 24x7 help & support to safeguard enterprise-grade networks.

The cloud deployment model in the network access control market is predicted to observe a 40% growth rate till 2028. This growth is credited to the growing acceptance of cloud-based network access control solutions. Additionally, the industry players operating in the market are focusing on launching cloud-based network access control solutions to evolve networks.

The large enterprises segment dominated more than 70% of revenue share in 2021 owing to the unique demands of enterprises, regarding the number of employees and giving access to contractors, visitors, and third-party suppliers. Companies are also witnessing network complexities and security concerns. In response, they are deploying advanced NAC solutions to ensure resilience throughout network operations. These also identify potential threats and mitigate the risks that affect business productivity.

The network access control market for retail application is estimated to attain a CAGR of over 35% through 2028. This growth is driven by the rising digitalization across the retail sector. Managing the internal workflow, such as in the store itself, stock rooms, and administrative areas, is challenging for retailers. NAC helps both retail security and customer experience by implementing security measures such as monitoring, multi-factor authentication, security patches, and user authorization. The digital transformation amongst retailers is gaining traction, and retailers are focusing on rising their IT spending.

Europe is anticipated to grow exponentially in the global network access control market on account of the growing adoption of advanced technologies and an increasing demand for 5G networks. The rising penetration of 5G services and the growing remote workforce are driving the demand for NAC solutions. According to a report released by the Ericsson, Europe's 5G coverage share was 55% in Western countries and 27% in Central & Eastern states in 2020. The European Union is launching programs to enhance cybersecurity for its citizens and enterprises.

Major participants operating in the network access control market include Auconet, Inc. (Beta System Software AG), Cisco System Inc, CommScope, Inc., CyberCyte, Extreme Networks Inc., Forescout Technologies Inc, Fortinet Inc., Genians, Inc., Hewlett Packard Enterprise, and InfoExpress Inc. These leaders are focusing on forming partnerships to develop advanced network access control solutions & platforms.

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Some of the major findings of the network access control market report include:

• Advancements in technologies, such as IoT, cloud computing, data analytics, and 5G, are slated to support the industry growth.
• The rapidly growing trends of BYOD and connected devices across industry verticals are providing significant growth opportunities for the NAC industry.
• The Europe market is propelled by the rising need to transform the network infrastructure.
• The industry players in the market are developing network access control platforms & games to provide enhanced network visibility.

Table of Contents (ToC) of the report

Chapter 3 Network Access Control Market Insights

3.1  Introduction

3.2  Industry segmentation

3.3  COVID-19 impact

3.4  Russia-Ukraine war impact

3.5  Industry evolution

3.6  Network Access Control industry ecosystem analysis

     3.6.1  Hardware providers

     3.6.2  Software providers

     3.6.3  Cloud service providers

     3.6.4  End-users

3.7  NAC architecture

3.8  Technology & innovation landscape

     3.8.1  Zero trust network (ZTN)

     3.8.2  AI & Machine Learning

     3.8.3  Security-as-a service

3.9  Regulatory landscape

     3.9.1  IoT Cybersecurity Improvement Act 2020

     3.9.2  3GPP (Global)

     3.9.3  Federal Communication Commission (FCC U)

     3.9.4  General Data Protection Regulation (GDPR, EU)

     3.9.5  National Legislation on Wireless Communications Standards

     3.9.6  Brazilian Telecommunication Model (LGT)

     3.9.7  Telecommunication Regulatory Authority (TRA, UAE)

3.10  Industry impact forces

     3.10.1  Growth drivers

          3.10.1.1  Rising popularity of BYOD trends

          3.10.1.2  Growing number of cyberattacks

          3.10.1.3  Increasing adoption of cloud platform across SMEs

          3.10.1.4  Rising proliferation of IoT devices.

          3.10.1.5  Government regulations regarding network security

     3.10.2  Industry pitfalls & challenges

          3.10.2.1  Lack of in-house capabilities across SMEs

          3.10.2.2  High initial implementation cost

3.11  Growth potential analysis

3.12  Investment portfolio

3.13  Patent analysis

3.14  Porter's analysis

3.15  PESTEL analysis

Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/network-access-control-nac-market

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