Aug 29, 2019   SOURCE: BusinessWire

Global Security Policy Management Market Outlook to 2024: Use Cases, Market Dynamics, Company Profiles - ResearchAndMarkets.com

The "Security Policy Management Market by Component (Solution and Services), Product Type (Network Policy Management, Compliance and Auditing, Change Management, & Vulnerability Assessment), Organization Size, Vertical, & Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The Global Security Policy Management Market is expected to grow from $1.5 billion in 2019 to $2.4 billion by 2024, at a CAGR of 9.6%.

An increase in the agility of business processes without sacrificing security and the need to reduce the reliance on the manual process of managing network policy management are driving the growth of the security policy management market.

The security policy management market includes various major vendors such as Cisco (US), Micro Focus (UK), Palo Alto Networks (US), Check Point Software Technologies (US), McAfee (US), Juniper Networks (US), Firemon (US), HelpSystems (US), AlgoSec (US), Tufin (US), CoNetrix (US), iManage (US), Odyssey Consultants (Cyprus), OPAQ Networks (US), Enterprise Integration (US), and Skybox Security (US).

Solution segment to hold a higher market share during the forecast period

Security policy management is a software-based policy management solution that saves time and enhances the security posture by identifying the correct policies required in the network infrastructure. The solution helps to achieve the compliance requirements, enhances data protection and security, and helps to address threats as they arise. Security policy management helps enterprises identify the existing security posture of their information systems and infrastructure, and combat against cybersecurity threats.

It is not possible for SMEs to hire in-house policy management expert due to their limited budget and higher maintenance cost. The security policy management is offered remotely by a third-party team of security policy management experts and analysts.

Change management to have a significant growth in the security policy management market during the forecast period

Change management manages the policy changes that occur within a network. It executes various functions, such as monitoring policy changes, restricting unauthorized changes, and sending notifications on changes and restoration to trusted versions. It offers real-time change monitoring feature to avoid malicious changes in the network policies and to make the latest configuration available in the database, so that network administrators get informed about the malicious threats.

It also offers policy restoration and backup features which will help to roll back the changes to the earlier state. It keeps a backup of all the changes made to a network device. If the policy changes are not compatible with the network components, then it can be restored to the earlier version. Security policy management solutions offer robust change management policies to enable the administrators to define the actions to be taken whenever there is a change in the configuration. The action could be an automatic rollback to the previous version or notification via ticketing systems.

North America to have the largest market size during the forecast period

North America is the most mature market in terms of security policy management adoption. It is likely to account for a substantial share of the global security policy management market during the forecast period. The market growth in this region is driven primarily by the presence of large IT companies/users and rapid technological advancements, such as digitalization in the US and Canada.

The presence of key players in the security policy management market in the region is expected to be a significant factor in driving market growth. Key players, such as Cisco, Palo Alto Networks, Check Point Software Technologies, McAfee, and Juniper Networks along with several start-ups in the region, are offering enhanced security policy management solutions, to cater to the needs of the customers.

Use Cases

  • CDW Attaining SOX Compliance with Ease
  • Tekjet Adopted Check Point for Security Management

Market Dynamics

Drivers

  • Demand for Greater Business Agility Without Sacrificing Security
  • Need to Reduce the Reliance on Manual Processes

Restraints

  • Continuously Changing Business Requirements

Opportunities

  • Shift From Homogenous Model to Hybrid Network Model
  • Growing Pressure from Regulatory Bodies to Maintain Proper Security Policies

Challenges

  • Low Cybersecurity Budget

Industry Trends

  • Centralized Security Policy Management

Company Profiles

  • Cisco
  • Micro Focus
  • Palo Alto Networks
  • Check Point Software Technologies
  • McAfee
  • Juniper Networks
  • Firemon
  • HelpSystems
  • AlgoSec
  • Tufin
  • CoNetrix
  • Imanage
  • Odyssey Consultants
  • OPAQ Networks
  • Enterprise Integration
  • Skybox Security

For more information about this report visit https://www.researchandmarkets.com/r/yhfofq