Security Policy Management Market Size, Share Global Analysis Report, 2024 – 2032

Industry Insights

[232+ Pages Report] According to Facts & Factors, the global security policy management market size was valued at USD 3,186.50 million in 2023 and is predicted to surpass USD 8,592.74 million by the end of 2032. The security policy management industry is expected to grow by a CAGR of 10.40% between 2024 and 2032.

Market Overview

Security policy management is the set of tools, practices, and processes that help to enforce and manage security policy within the company. These policies help protect the organization's information & assets, ensure compliance, manage risk, and maintain overall operational integrity. However, it is a critical aspect of any company. The growing complexities in the IT environment demand effective security policy management solutions to safeguard organizations.

Key Insights

• As per the analysis shared by our research analyst, the global security policy management market size is estimated to grow annually at a CAGR of around 10.40% over the forecast period (2024-2032).
• In terms of revenue, the global security policy management market size was valued at around USD 3,186.50 million in 2023 and is projected to reach USD 8,592.74 million by 2032.
• Rising trend of the zero-trust security model is driving the growth of the global security policy management market.
• Based on the industry verticals, the IT and telecom segment is growing at a high rate and is projected to dominate the global market.
• Based on the enterprise sizes, the large enterprise segment is projected to swipe the largest market share.
• Based on solutions, the network policy management segment is expected to dominate the global market.
• Based on components, the services segment is anticipated to witness significant developments in the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.

Growth Drivers

• Rising trend of the zero-trust security model is driving the growth of the global market.

The growing adoption of the zero-trust security model is the primary reason for the high growth rate of the global security policy management market. This policy assumes no trust in anyone inside or outside the network perimeter. Growing demand for automation is another major factor likely to increase the demand for security policy management solutions in the market.

Automation eliminates manual errors and scales security operations to align with compliance requirements and deal with potential cyber-attacks. Emerging technologies like machine learning and artificial intelligence are further expected to revolutionize the market. Integration of these technologies into security policy management solutions has significantly improved the response action detection capabilities of the security solutions.

Moreover, the growing trend of adopting managed security services by organizations to keep a check on security policies 24×7 is further expected to positively impact the growth trajectory of the industry. For instance, HelpSystem successfully took over Core Security Solutions in 2019. Previously, the acquired company was under SecureAuth. It is expected to help HelpSystem extend its offering against internal and external intrusion and threats.

Restraints

• High implementation costs are likely to hamper the growth of the global market.

The high cost associated with advanced security policy management solutions is expected to slow down the growth of the security policy management industry. Additionally, there is a huge shortage of skilled workers in the security profession with expert knowledge in security policy management, which is likely to be another major factor expected to negatively impact the growth trajectory of the industry.

Opportunities

• Emergence of cloud-native solutions is expected to foster growth opportunities in the global market.

Growing demand for cloud-native solutions in the market in order to get more scalability and flexibility is likely to foster growth opportunities in the global security policy management market. Moreover, advancements in cyber-attacks are significantly accentuating the demand for effective security policy management solutions.

However, the strict data security regulations all across the globe are also boosting the implementation of these security policies to protect sensitive information and align with regulatory compliance. Additionally, the growing awareness among people regarding the impact of data breaches and authorized access is also likely to positively impact the growth of the industry.

As more people are becoming aware of the importance of cybersecurity solutions, the market is expected to witness growth in investments in security policy management solutions. For instance, Cisco, in collaboration with cloud solutions, plans to purchase Valtix from Silicon Valley in 2023. Valtix platform holds capabilities like secure deployment, application defense, and automated cloud application discovery.

Challenges

• Resistance to change is a big challenge in the global market.

Many companies are reluctant to adopt new technologies, security policies, and processes because of the old pattern or cultural inertia. However, it is expected to be a big challenge in the security policy management industry. Moreover, the growing regulations regarding data privacy are further expected to negatively influence the market in the coming years.

Segmentation Analysis

The global security policy management market can be segmented into industry verticals, enterprise sizes, solutions, components, and regions.

On the basis of industry verticals, the market can be segmented into IT & telecom, healthcare, BFSI, transportation, energy & utilities, and others. IT and telecom are the fastest-growing segments of the security policy management industry. IT and telecom companies are adopting advanced cloud services to scale their business and streamline their operations. However, this shift boosts the requirement for strong security policy management solutions to protect the applications in the cloud.

Moreover, the integration of IoT devices in IT and telecom infrastructure makes them more vulnerable to cyber-attacks, which is another major factor positively impacting the growth of the segment. The growing need for operational efficiency is leading these companies to automate their security policy management solutions, which is also a big reason for the segment's high growth rate.

On the basis of enterprise sizes, the market can be segmented into large enterprises and small & medium enterprises. The large enterprise segment is likely to dominate the global security policy management market. Large enterprises have complex IT infrastructure, which is a primary reason for the high growth rate of the segment. Large enterprises have their infrastructure located in multiple locations, so security policy management solutions are mandatory.

Also, large enterprises work on advanced technologies like IoT, big data, cloud services, and many others, which further poses a demand for cyber security measures to protect the system against potential attacks. Additionally, large enterprises have the investment capacity to collaborate with advanced security policy management vendors and solutions. Also, they do have dedicated security teams that work on security policies to protect their systems. Moreover, large enterprises are at higher risk of cyber-attacks because they are the prime targets for cybercriminals.

On the basis of solutions, the market can be segmented into application connectivity management, risk & vulnerability analysis, change management systems, network policy management, and others. The network policy management segment accounts for the largest share of the security policy management industry. Network security plays a crucial role in maintaining secure operations. Network policy management is required to prevent potential cybercrime and unauthorized data access. It helps regulate the access control system, thereby helping network resources know who can access the data and under what conditions.

Additionally, the rise of a hybrid work environment further increases the demand for network policy management solutions. The rise of bring your own devices (BYOD) policies further adds complexity to network management, which is another major factor positively impacting the growth trajectory of the segment. Technological advancements like the introduction of machine learning and AI in network policy management further help the company improve overall security and automate detection tasks.

On the basis of components, the market can be segmented into services and software. The service segment is expected to witness significant growth in the coming years. The rising complexities of the IT environment are a major factor driving the growth of the segment. Cybercrimes are becoming more advanced and frequent, and therefore, companies need sophisticated solutions to protect themselves from cyber breaches and potential attacks.

Also, the integration of IoT devices, on-premise systems, cloud services, and many more systems in a single IT environment boosts the demand for security services. Compliance management is also a huge requirement. Strict regulations that mandate regular assessments, security updates, and audits further boost the demand for security services.

Report Scope

Regional Analysis

• North America to dominate the global market.

North America will account for the largest share of the global security policy management market during the forecast period. The region is witnessing a growing number of cyber-attacks than any other state, which in turn is a primary reason for the high rate of the security policy management industry in the region.

Moreover, regulatory compliance like HIPAA, GDPR, and many others further foster the requirement of robust security policies to protect consumers' sensitive data. The United States is the largest market in North America because of the presence of major technology companies in the state.

Also, the region is a hub of many technological innovations. The region witnesses heavy investments in R&D to develop advanced security solutions. Additionally, the regulatory requirement in Canada mandates the use of security policy management solutions. The Canadian government promotes national security infrastructure, which further contributes to the market's growth.

Asia Pacific is another major region that is expected to experience significant growth in the coming years. The growing adoption of digital technologies across the region is the primary reason for the high rate of the regional market. China is witnessing rapid digitalization, and therefore, there is a rising risk of cyber-attacks, which is another major reason for the high growth rate of the market in APAC.

Additionally, the Chinese government is promoting domestic cyber security companies, which will support the regional market's growth. India also has high growth potential in the industry because of its fast-growing IT sector. Government initiatives like Digital India are likely to revolutionize the APAC market. Japan is also a developed country that is expected to contribute towards a high rate of regional market growth.

All these factors are likely to contribute towards the high growth of the regional market. For instance, Micro Focus came up with AD Bridge 1.0 in 2019. Customers are likely to secure Linux resources by utilizing their current Active Directory investments effectively.

Competitive Analysis

The key players in the global security policy management market include:

• Check Point Software Technologies Source
• Juniper Networks
• Palo Alto Networks
• Cisco
• Micro Focus
• McAfee
• Firemon

For instance, Trelix came up with Symphony Technology Group (STG) in 2022. This product is likely to offer businesses improved detection and response. This launch is likely to escalate technological innovation through machine learning and automation.

The global security policy management market is segmented as follows:

By Industry Verticals Segment Analysis

• IT & Telecom
• Healthcare
• BFSI
• Transportation
• Energy & Utilities
• Others

By Enterprise Sizes Segment Analysis

• Large Enterprises
• Small & Medium Enterprises

By Solutions Segment Analysis

• Application Connectivity Management
• Risk & Vulnerability Analysis
• Change Management Systems
• Network Policy Management
• Others

By Components Segment Analysis

• Services
• Software

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America