REDWOOD CITY, Calif. – According to a recently published report from Dell'Oro Group, the trusted source for market information about the telecommunications, security, networks, and data center industries, enterprise spend on network security technologies–which includes email security, firewall, security service edge (SSE), secure web gateway (SWG), web application firewall (WAF), and application delivery controller (ADC) products–has been on a rebound after the depths of the Covid-19 pandemic in 2020 with strong momentum that is expected through 2023. However, the pace of revenue growth in the subsequent years, through 2027, is forecast to be slightly weaker.
Additional highlights from Network Security January 2023 5-Year Forecast Report:
The sum of 2022 and 2023 network security revenue was revised upwards for the second consecutive time from $47.6 B in our July 2022 forecast to $48.8 B in our current.
Network Security market to experience a low double-digit compounded annual growth rate (CAGR) from 2022 to 2027.
Read the full press release here.
Dell'Oro