United Kingdom Network Security Market Insights Forecasts to 2033

• The U.K. Network Security Market Size was valued at USD 0.72 Billion in 2023.
• The Market Size is Growing at a CAGR of 11.35% from 2023 to 2033
• The UK Network Security Market Size is Expected to Reach USD 2.11 Billion by 2033

The U.K. Network Security Market is Anticipated to Reach USD 2.11 Billion by 2033, growing at a CAGR of 11.35% from 2023 to 2033.   

Market Overview

A network's defense against cyberattacks, unwanted access, and data loss is provided by a collection of technologies, guidelines, and practices known as network security. Network security can assist in defending a business's remote workers, confidential data, and reputation. Several levels of defense are combined in the network and at the edge to create safety for networks. Rules and restrictions are implemented at each tier of network security. Network assets are accessible to authorized users, but bad actors are prevented from executing threats and exploits. Network security is essential for safeguarding client data and sensitive information, maintaining the security of shared data, guaranteeing dependable network performance and access, and defending against online attacks. A well-thought-out network security solution lowers overhead costs and protects businesses against expensive losses resulting from data breaches and other security incidents.

Report Coverage

This research report categorizes the market for the UK network security market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United Kingdom network security market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the U.K. network security market.

Driving Factors

There is an enormous need for safeguarding data employment in the UK right now. There is presently an information security shortage of expertise in almost half of all UK organizations. This is a significant issue. Nearly one in three UK firms had a cyberattack or data security breach in 2023, according to a new report from the UK government. The increasing need in the network safety market is mostly due to the growing scarcity of network security specialists in UK firms, particularly as more organizations come to terms with the issue of cyberattacks and data breaches. The protection of dispersed or on-premises network components depends on the safety of networks. Segmentation, detection of threat structures, network firewalls, and accessibility gateways are examples of features.

Restraining Factors

Threats and a lack of real data protection present difficulties for almost every kind of business. Businesses continue to underinvest in network security solutions by not allocating the required funding.

Market Segmentation

The UK network security market share is classified into deployment and organization size.

• The cloud segment is expected to hold the greatest market share through the forecast period.    

The U.K. network security market is segmented by deployment into cloud and on-premise. Among these, the cloud segment is expected to hold the greatest market share through the forecast period. Cloud-based solutions are becoming increasingly popular among organizations due to the growing use of AI, ML, IoT, and other technologies. Software powered by the cloud facilitates rapid company growth for organizations by offering real-time setup support.

• The large enterprises segment is anticipated to hold a significant share of the United Kingdom network security market during the forecast period.       

Based on the organization size, the UK network security market is divided into large enterprises and small and medium-sized enterprises. Among these, the large enterprises segment is anticipated to hold a significant share of the United Kingdom network security market during the forecast period. Since they are more visible and well-known, large organizations frequently deal with larger volumes of data and are subject to greater cyber dangers.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the U.K. network security market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Darktrace
• Palo Alto Networks
• CrowdStrike
• Cisco
• Fortinet
• Juniper Networks
• Vectra AI
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In May 2024, artificial intelligence-powered security products will be jointly provided by Palo Alto Networks and IBM, with IBM providing security advisory services for all of Palo Alto Networks' security technologies.

Market Segment

This study forecasts revenue at the UK, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United Kingdom Network Security Market based on the below-mentioned segments: 

United Kingdom Network Security Market, By Deployment

• Cloud
• On-premise

United Kingdom Network Security Market, By Organization Size

• Large Enterprises
• Small and Medium-sized Enterprises