Global Microsegmentation Market is expected to foresee significant growth. North America to lead the growth!

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.

The Microsegmentation Market is expected to grow at a steady rate of around 20% owing to the increasing off-road recreational activities coupled with the growing internet penetration around the globe.

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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 micro-segmentation. Furthermore, the growing need for the expertise of cyber security and increasing malware attacks around the globe are expected to drive the services market.

Based on industry vertical, the market is segmented into government & defense, BFSI, IT and Telecom, healthcare, retail, and manufacturing. 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 the upgradation of its processing and transaction technologies and the requirement for end-to-end security solutions to optimize operations.

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For a better understanding of the market adoption of the microsegmentation industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. In 2020, the North American 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.

Some of the major players operating in the market include 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.

Global Microsegmentation Market Segmentation

Market Insight, by Component

• Software
• Services

Market Insight, by Industry Vertical

• Government & defense
• BFSI• IT and Telecom• Healthcare• Retail• Manufacturing

Market Insight, by Region

• North America
  • US
  • Canada
  • Rest of North America
• Europe
• Germany
• United Kingdom
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Rest of Asia-Pacific
• Rest of the World

Top Company Profiles

• 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• Microsoft corporation.