Microsegmentation Market: Current Analysis and Forecast (2022-2028)
Emphasis Component (Software and Services); Industry Vertical (Government & Defense, BFSI, IT and Telecom, Healthcare, Retail, and Manufacturing); and Region/Country
The Global Microsegmentation Market is expected to grow at a significant rate of around 20% during the forecast period. Micro-segmentation is a network security technique that enables security architects to logically divide the data center into distinct security segments down to the individual workload level, and then define security controls and deliver services for each unique segment. Micro-segmentation enables IT to deploy flexible security policies deep inside a data center using network virtualization technology instead of installing multiple physical firewalls.
The growing adoption of micro-segmentation is attributed to the growing cyber-attacks around the world, coupled with the cost of each data breach that an organization has to bear. Furthermore, the growing use of web applications, connected devices and mobile devices is expected to drive the market. For instance, there are more than 6.6 billion active smartphones in the world as of 2022.
VMware Inc, Juniper networks, Cisco systems corporation, Unisys corporation, Avaya Inc, Hewlett Packard enterprises inc, Dell technologies inc, Brocaded communication systems inc, Huawei technologies co, Extreme networks Inc, and Microsoft corporation are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst component, the service category to witness higher CAGR during the forecast period”
Based on component, the market is segmented into software and services. During the forecast period, the services segment is expected to grow significantly during the forecast period. The managed service providers play a vital role in the deployment of the micro segmentation. Furthermore, the growing need for expertise of cyber security and increasing malware attacks around the globe are expected to drive the services market.
“Amongst industry vertical, the BFSI segment is expected to hold a significant share in the market in 2020”
Based on industry vertical, the market is segmented into government & defense, BFSI, IT and Telecom, healthcare, retail and manufacturing and others. The BFSI segment is expected to with a significant CAGR during the forecast period. The growing adoption of micro segmentation in the BFSI sector is attributed to its constant need for upgradation of its processing and transaction technologies and the requirement for end-to-end security solutions to optimize the operations.
“North America to hold a significant share in the market”
In 2020, the North America region is expected to grow with a significant CAGR during the forecast period, this is mainly due to the presence of stable and developed economies in the region such as the U.S and Canada. Furthermore, the growing research and development investments in the region by key players are expected to significantly influence the market. Moreover, the rising number of developing Small and Medium-sized Enterprises (SMEs) and the increasing digitization in large organizations have aided the growth of the North American micro segmentation market. SMEs are flexible in incorporating new technologies such as micro segmentation, artificial intelligence-driven micro-segmentation, network micro segmentation into their existing systems, whereas large organizations have heavy budgets for digitization. All these factors are driving the growth of the market in North America.
Reasons to buy this report:
- The study includes market sizing and forecasting Analytics validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers in-depth Analytics of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level Analytics of the industry.
Customization Options:
The global Microsegmentation market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Microsegmentation Market (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global microsegmentation market were the three major steps undertaken to create and analyze the adoption of network devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global microsegmentation Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analytics of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the microsegmentation market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the microsegmentation market, we conducted detailed secondary Analytics to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as co. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analytics:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor Analytics to estimate the current market size of the microsegmentation market. Further, we conducted factor Analytics using dependent and independent variables such as component, and industry vertical. A thorough Analytics was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the microsegmentation market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global microsegmentation market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the microsegmentation market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global microsegmentation market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical Analytics was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global microsegmentation market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of services, types, and applications in the global microsegmentation market.
The main objective of the Global Microsegmentation Market Study
The current & future market trends of the global microsegmentation market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative Analytics performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the microsegmentation market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the component, and industry vertical.
- Define and Analytics of the regulatory framework for the microsegmentation market analysis
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the microsegmentation Market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the microsegmentation market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level Analytics of the industry
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