Multi-layer Security Market Size and Overview
The multi-layer security market is garnering exponential traction across the globe. The market growth attributes to the increasing advances in network automation. Besides, the rising adoption of cloud-based services drives the development of the market. Also, augmenting demands for a secure approach to provide security at different levels in a network pushes the market growth. Moreover, the increasing adoption of multi-layer security technology in the BFSI sectors escalates market sales.
According to Market Research Future (MRFR), the global multi-layer security market is poised to grow at an impressive CAGR throughout the assessment period (2018-2023). Multi-level security approaches help enterprises to counter cyberattacks at various network levels, application, and end-user levels. As a result, many end-use verticals across the industries are shifting their business operations to the cloud.
Additionally, the rising surging security threats over networks and the Internet increase the market demand. The rise in smartphone users and the legal compliances influence the growth of the market. Also, the high adoption of BYOD policies, alongside the growing numbers of organizations, propels the development of the multi-layer security market.
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Multi-layer Security Market– Segments
The report is segmented into five dynamics;
By Component : Solution and Service.
By Type : Proactive, Detective, and Reactive Security.
By Deployment : On-cloud and On-Premise.
By End-user : Military & Defense, IT & Telecommunication, Media & Entertainment, Healthcare, and others.
By Regions : Europe, Americas, Asia Pacific, and the Rest-of-the-World.
Multi-layer Security Market Regional Analysis
North America dominates the global multi-layer security market. The largest market share attributes to the increased need for efficient security solutions across the end-user industries. Besides, the increasing security threats and high cyber-attacks in organizations drive the growth of the market in the region. Moreover, the trend of shifting business operations across the end-use verticals to cloud fosters the growth of the market.
Also, the adoption of multi-level security to counter cyber attacks at a different level substantiates regional market growth. The US holds the key share in the regional market due to IT-based companies in the country. The increasing adoption of internet-based processes, cloud service adoption, and network virtualization defines the growing landscape of a multi-level security market in the region. The North American multi-layer security market is projected to retain its dominance throughout the estimated period.
Europe stands second in the global multi-level security market. The market growth is driven by technological advances and the concentration of several key players, providing multi-layer security. Additionally, the increasing government initiative concerning cybersecurity fosters the growth of the regional market. The European multi-level security market is estimated to create a substantial revenue pocket during the assessment period.
The multi-layer security market in the Asia Pacific region is brisk. Factors such as the rapidly improving economy and increasing numbers of businesses in the region influence the regional market growth. Moreover, well-established large organizations create massive demand for multi-factor authentication. Also, substantial R&D investments made by public and private sectors foster the growth of the regional market.
Furthermore, favorable government initiatives encouraging the multi-national companies to set-up their development centers in Asia fuel the regional market growth, leading to digitization. Moreover, the rapid urbanization in the rapidly developing economies like India and China propel the growth of the regional market. The APAC multi-layer security market is estimated to grow at a significant rate during the forecast period.
Multi-layer Security Market Major Players:
Players operating the multi-layer security market include Gemalto NV (France), Fortinet Inc. (US), SolarWinds MSP (Scotland), Blue Solutions Limited (England), Oracle Corporation (US), AT&T Inc. (US), McAfee LLC (US), F5 Networks Inc. (US), Symantec Corporation (US), Cisco Systems Inc. (US), Ingenico Group (France), HP Development Company LP (US), Hitachi Ltd. (Japan), Adept4 Ltd(UK), IBM Corporation (US), Microsoft Corporation (US), Bayshore Networks (US), Raytheon (US), Heimdal Security (Denmark), MasterIT (US), SNC-Lavalin (Canada), Magal Security Systems Ltd (Israel), Webroot Inc. (US), Apogee IT Services (US), Compugen Inc. (US), Tata Communications Ltd. (India), Novosco Ltd. (Ireland), On-Site Technology (US), InterVision Systems (US), and Nucleus Networks Inc. (Canada), among others.
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Global Multi-layer Security Market Competitive Analysis
Highly competitive, the multi-layer security market appears fragmented due to the presence of numerous well-established players. To gain a larger competitive share, innovation, mergers & acquisitions, and brand reinforcement remain key trends for these players. The market is likely to witness intensified competition with an increase in R&D innovations and M&A.
Industry/ Innovation/ Related News
September 09, 2020 ---- The LTO Program Technology Provider Companies (TPCs), including IBM, Hewlett Packard Enterprise, and Quantum, announced the specifications of LTO Ultrium format generation 9, making it available for licensing. LTO generation 9 specifications include multi-layer security support via hardware-based encryption, WORM (Write-Once, Read-Many) functionality, and support for Linear Tape File System (LTFS).
New LTO generation 9 solutions are designed to increase tape cartridge capacity from the previous generation, with capabilities of up to 45TB* per cartridge when compressed. With increased capacity, we are catering to the current and future market requirements for data storage the LTO technology is projected to become the future of security levels.