The Network Access Control (NAC) market is estimated to grow from USD 681.3 Million in 2015 to USD 2,645.5 Million by 2020, at a high Compound Annual Growth Rate (CAGR) of 31.17% during the forecast period. Network security is gaining a significant importance among the corporates due to the increasing number of untrusted devices accessing their networks. Hence, increasing adoption of NAC in various industries is seen, which is driving the growth of the market.
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The NAC market size is estimated to grow at a high Compound Annual Growth Rate (CAGR) of 31.17% from 2015 to 2020. The global NAC market is witnessing a rapid growth with growing new modes of user interactions in enterprises.
These modes need to be secured to prevent any leakage of information. NAC solutions help in avoiding security vulnerabilities and securing a network from any risk.
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Also, the growing Bring Your Own Device (BYOD) trend calls for highly secured network solutions. Thus, NAC solution has become the most significant part of security value chain and is being implemented by most of the organizations globally.
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NAC product by type to gain market prominence by the next five years”
The NAC hardware solution by product type is expected to hold the largest market share during the forecast period. More than half of the total NAC market revenue is contributed by hardware solution type and the trend is expected to continue during the entire forecast period.
The software solution shows great growth opportunities with a high CAGR in the next five years. The increasing demand for easily scalable devices and associated security controls within the enterprise budget is driving the NAC software solution market.
“The APAC NAC market is expected to be the fastest growing regional market”
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Considering the regional trends of the NAC market, North America is projected to hold the largest market size. The market in APAC is in the growth phase and is the fastest growing regional NAC market.
This is mainly attributed to the growing focus of the market players to the great opportunities in the NAC market due to the presence of many developing countries and infrastructure in this region. The Latin America and MEA regions also depict great potentials in terms of adoption of NAC solutions.
There are various companies that are coming up with innovative and efficient NAC solutions and services in this market due to the need for improved network security and business operations, globally. The major players offering NAC solutions and services are Cisco Systems, ForeScout Technologies, Extreme Networks, HPE, Bradford Networks, and Avaya, among others.
Moreover, there are various key innovators in the market, such as SnoopWall, which is providing innovative NAC solutions.
The market is segmented based on product types that include hardware and software, and services which include consulting, installation, and support and maintenance. Further, the NAC market is also segmented based on deployment types, user types, industrial verticals, and regions.
The scope of the report covers detailed information regarding the major factors influencing the growth of the NAC market, such as drivers, restraints, opportunities, and challenges. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, partnerships, collaborations, expansions, and competitive landscape associated with the NAC market.
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