Network Access Control (NAC) Market Analysis on Market Share, Ongoing Trends, Top Players, Regional Players and forecast

The network access control (NAC) market is set to witness immense growth up t 2027 due to higher awareness regarding cybersecurity across the SMEs, rising number of cyberattacks, and growing adoption of cloud technology across retail sector. NAC or Network access control is the set of tolls, protocols or processes governing access to network connected resources. It keeps the unauthorized users as well as devices out of a private network.
NAC generally works on wireless and wired networks mainly by finding and identifying various devices that are connected and can also access the prevailing system. Besides, organizations who give specific user or devices from outside of the organization occasional access could utilize NAC to make sure that these devices meet the corporate security compliance rules.
Additionally, network access control limits the data that each user can access, and also implements anti-threat applications like antivirus software, firewalls, as well as spyware-detection programs. Network access control is best for agencies and corporations in which the environment of the user could be rigidly controlled.
The network access control (NAC) market is bifurcated in terms of component, deployment model, organization size, application, and regional landscape.
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With respect to component, the market for network access control is classified into service, hardware, and software. In 2020, the hardware segment accounted for 40% of the overall market share and is forecasted to progress at rapid pace over 2021-2027. The growth is attributed to the dependency on on-premise physical NAC appliances across enterprises.
The service segment is further categorized into integration & maintenance, managed service, and consulting. Among these, the consulting service segment is slated to grow at a CAGR of more than 30% over the projected time period. The growing need to understand the network security requirements of the organization from industry experts will drive its adoption.
In terms of application, the overall NAC market is categorized into education, government, manufacturing, retail, healthcare, BFSI, and IT & telecom, and others. In 2020, the retail segment held a market share of over 15% and is expected to showcase a promising growth rate. The anticipated growth is majorly ascribed to the growing adoption of cloud technology across retail sector.
Meanwhile, the government application segment is likely to witness a respectable CAGR of over 25% through 2027 with rising number of cyberattacks.
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From a regional frame of reference, network access control market in Latin America is projected to grow at 30% CAGR over the analysis timeline. This projected growth is due to the heightened awareness regarding cybersecurity across the SMEs in the region.