The Microsegmentation market is expected to grow from USD 670.3 million in 2017 to USD 2,038.7 million by 2022, at a CAGR of 24.9% during the forecast period. Technological advancements, increasing ransom ware attacks on connected devices, and growing usage of security virtualization and cloud computing are some of the factors contributing to the growth of the global microsegmentation market.
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Increase in the network connectivity and data theft, and need for maintaining safe third party access are expected to further drive the microsegmentation market growth. High cost of advanced security solutions and limited security budgets are the major factors restricting the growth of the microsegmentation market.
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- Microsegmentation software providers
- Microsegmentation service providers
- System integrators
- Consultancy and advisory firms
- Managed service providers
- Data center and cloud security providers
The APAC region is expected to witness significant growth and is projected to be the fastest-growing region in the the microsegmentation market. APAC has witnessed the advanced and dynamic adoption of new technologies, and it has always been a lucrative market.
The APAC region is expected to be one of the fastest-growing markets, as the governments in the APAC countries are continuously investing in the Research and Development (R&D) of microsegmentation services. Increasing IT landscape is boosting the market in this region.
In addition, the growing demand for security up gradation and the governments’ efforts to standardize security policies are some of the growth drivers for the microsegmentation market.
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In the Latin American and APAC regions, the BFSI vertical is expected to witness the highest CAGR. This sector is continuously upgrading its processing and transaction technologies, and requires end-to-end security solutions to optimize operations against both internal and external threats.
With facilities, such as smart banking, internet banking, and mobile banking, the BFSI vertical is required to prioritize on cyber security. The technological advancements in the industry have attracted the cybercriminals.
The industry is facing severe challenges in maintaining application, data, and network security. The attackers are targeting the BFSI IT infrastructure with viruses, spear phishing, malware, and other cyber-attacks.
Thus, the industry continuously upgrades its security infrastructure.
2 Ranking Analysis, By Company
3 New Solution Launches
4 Partnerships, Agreements, and Collaborations
5 Mergers and Acquisitions
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The report includes an in-depth competitive analysis of the key players in the microsegmentation market along with their company profile, recent developments, and key market strategies. The report segments the microsegmentation market by component (software and services),service, security type, deployment type, organization size, vertical, and region.
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