Companies are accelerating the adoption of virtual solutions to protect hybrid and multi-cloud environments.
The global network security market is expected to reach $38 billion by 2029, with a compound annual growth rate (CAGR) of 10% over the next five years, according to a report published by Dell’Oro Group. This growth will be driven by cybersecurityCybersecurity solutions are essential in the cloud-based era and artificial intelligence (AI), key technologies for addressing the challenges of digital transformation and hybrid work.
According to the report, by 2026, cloud security solutions will account for over 50% of total revenues in the sector, due to their scalability, flexibility, and alignment with cloud-first strategies and multi-cloud environments.
Trends Driving the Network Security Market
The Dell’Oro Group report identifies several key segments within network security that are rapidly evolving:
- Growth of Virtual Firewalls: While the firewall market is projected to grow at an 8% CAGR, virtual firewalls stand out with a growth rate of 15% CAGR, reflecting their essential role in hybrid cloud deployments.
- Expansion of Web Application Firewalls (WAF): Driven by digitalization and cloud migration, WAFs are expected to register a 13% CAGR to protect applications hosted in multi-cloud environments.
- Dominance of Security Service Edge (SSE): SSE is set to exceed $11 billion in revenue by 2029, growing at a 14% CAGR, due to the increasing adoption of cloud-based security solutions.
- Evolution of Application Delivery Controllers (ADC): Although physical ADCs will experience a temporary uptick, the market is moving toward software-defined and cloud-native solutions, with more moderate growth of 1% CAGR.
Cloud Security as the Standard in the Hybrid Work Era
The rise of remote and hybrid work has prompted companies to rethink their cybersecurity strategies. With the increase in cyberattacks and the growing complexity of technological environments, organizations have accelerated the adoption of AI-based cloud security solutions to enhance data protection and access management.
“We are witnessing an inevitable shift: companies are increasingly adopting virtual and cloud-based security solutions to meet the new demands of hybrid work and multi-cloud environments,” explained Mauricio Sánchez, Director of Enterprise Security and Networks at Dell’Oro Group.
This movement responds to the need for advanced and real-time protection, with tools capable of detecting anomalies and responding to cyberattacks without compromising network performance.
A Future Defined by Artificial Intelligence and Automation
The report concludes that the network security market is evolving toward a highly automated model, where AI will play a key role in threat detection and mitigation. The integration of Zero Trust, SSE, and WAF solutions will enable companies to strengthen their cybersecurity infrastructure without affecting user experience.
As more companies migrate to cloud-first architectures, investment in security will continue to grow, driven by stricter regulations and the increase in cyberattacks targeting critical infrastructures.
Organizations that adopt a cloud-based security strategy with automation and artificial intelligence will be better prepared for the challenges of the digital future.
via: Prnewswire