The North America Network Access Control Market would witness market growth of 23.7% CAGR during the forecast period (2023-2030).
Network access control, often known as (NAC), is a security solution that allows companies to restrict illegal access to their private network. To put it another way, it ensures that only approved people & devices can access their network. To improve network visibility and reduce risk, it uses several technologies and applies policies to devices. Users must authenticate with multifactor authentication, a more secure method than identifying users by login & password or IP address, as this is a key component of NAC. After a user has gained access to the network, NAC ensures additional protection for each unique network component.
The market is expanding as a result of reasons including rising instances of network security breaches experienced by businesses, an increase in the number of businesses focusing on AAA (authentication, authorization, and accounting), and rising usage of data protection software. The development of new technologies such as BYOD (bring your own device), IoT, cloud-based services, and machine-to-machine networks are further drivers driving the growth of the NAC market. Additionally, the market for NAC will benefit from the growing use of NAC in the BFSI, the rise in endpoint devices, and the expanding work-from-home trend brought on by Covid-19, which will boost network security.
The North American market for cloud storage solutions is already developed due to the widespread adoption of cloud computing among small and large organizations. The adoption of cloud storage solutions in North America is anticipated to be driven by factors such as a shift toward cloud services by businesses and an increase in companies employing digital business techniques. In addition, budget allocations to cloud storage products and services are increasing among businesses. The Federal Risk and Authorization Management Program (FedRAMP) was developed by the United States government to provide a standard method for the authorization, evaluation, and continuous monitoring of cloud products and services. These aspects are further predicted to support the regional market’s expansion.
The US market dominated the North America Network Access Control Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,208.5 million by 2030. The Canada market is estimated to grow at a CAGR of 26.5% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 25.4% during (2023 - 2030).
Based on Deployment, the market is segmented into Cloud, and On-premise. Based on Offering, the market is segmented into Hardware, Software, and Services. Based on Enterprise Size, the market is segmented into Large Enterprises, and Small & Medium Enterprises. Based on Vertical, the market is segmented into BFSI, IT & Telecommunication, Retail, Education, Healthcare & Dental, Energy & Utilities, Manufacturing, Government, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Network Access Control Market is Projected to reach USD 14 Billion by 2030, at a CAGR of 25.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), IBM Corporation, Broadcom, Inc., VMware, Inc., Hewlett Packard Enterprise Company, Microsoft Corporation, Juniper Networks, Inc., Sophos Group PLC (Thoma Bravo) and Fortinet, Inc.
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