The global micro segmentation technology market is anticipated to grow at a significant CAGR of 24% during the forecast period 2024-2031. The growing demand for integrated data protection, rise in workload isolation, increasing cyber-attack is major factors that are implemented to drive the market growth of the micro segmentation technology market during the estimated period. The rising urbanization and industrialization with a faster pace is an additional factor that propels the growth of micro segmentation technology market with a significant rise in market trends in estimated duration.
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The increased lateral movement security, enhanced regulatory compliance posture, low attack surface and secured critical application are some dominant benefits associated with micro segmentation technology. The benefits and its rising awareness are majorly responsible to anticipate a significant growth in global market and drive the market shares and size of micro segmentation technology market during the forecast period. Additionally, the growing adoption of cloud computing and rising standards and regulation for strict data security are expected to induce a lucrative growth opportunities for market.
The global micro segmentation technology market is segmented on the basis of component type, security, deployment, organizational size, industry vertical, and region segment. Based on the component type, the market is further categorized as solution and service type. The service type component dominates the market and is expected to hold the largest market size and shares during the forecast period. Based on the security type, the market is additionally segmented into network security, application security, and database security. The highest CAGR and market value were expected to exhibit by the network security segment due to its widespread application for security purpose. In various data centers and clouds, the network security provides consistent security over the network system and allows gaining better visibility and application performance. Besides, on the basis of deployment type, the market was further segmented into- on-premise and cloud. The market was dominated by the cloud segment and projected to raise the market value, size and shares during the forecast period. The increasing adoption of cloud services in an organization for various purposes mainly includes- cyber security concerns, reduced effectiveness, and reliance on antivirus and firewalls over traditional perimeter securities. By industry vertical, the market is segmented into it & telecom, BFSI, retail, energy & utilities, manufacturing, mobile & entertainment, government & defense, healthcare & life science, and others.
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Market Coverage
- Segment Covered-
o By Component
o By Security Type
o By Deployment Type
o By Organizational Size
o By Industry Vertical
- Competitive Landscape- VMware Inc., Juniper Networks Inc., Cisco Systems Corp., Dell Technologies, Extreme Networks Inc., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Micro Segmentation Technology Market Report Segment
By Component
- Solutions
- Services
By Security Type
- Application Security
- Network Security
- Database Security
By Deployment Type
- On-Premise
- Cloud
By Organizational Size
- Small & Medium Enterprise
- Large Enterprise
By Industry Vertical
- IT & Telecom
- BFSI
- Retail
- Energy & Utilities
- Manufacturing
- Mobile & Entertainment
- Government & Defense
- Healthcare & Life Science
- Others
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