Microsegmentation Market Is Estimated To Witness High Growth
Market Dynamics:
The growing demand for connected and autonomous vehicles is one of the key drivers of the microsegmentation market. Connected cars rely on advanced driver assistance systems (ADAS), telematics, navigation, advanced safety, and infotainment systems that generate and exchange a huge amount of data with other vehicles and infrastructure. As the number of connected components increases, so does the risk of cyberattacks. Automakers are adopting microsegmentation solutions to isolate safety-critical systems from non-safety components and prevent breaches. The solutions help automakers meet the cybersecurity standards for autonomous vehicles. Additionally, microsegmentation solutions optimize connectivity-related operations and enable secure vehicular communication and sharing of data with other vehicles and infrastructure.
SWOT Analysis
Strength: Microsegmentation market's growth is majorly driven by the increasing cyber threats and data breaches globally. Microsegmentation helps enterprises gain more visibility and control over their network infrastructure. It allows enterprises to isolate critical applications and securely allocate access to authorized users only.
Weakness: Implementing microsegmentation requires making changes to the network architectures and policies. It involves additional IT costs and resources initially. Also, maintaining microsegmentation involves continuous monitoring and updates which increases the operational expenses.
Opportunity: With more organizations embracing digital transformation and cloud adoption, the attack surface is expanding rapidly. This is prompting enterprises to invest in advanced network security solutions like microsegmentation to prevent cyber attacks. The growing cloud deployments offer new opportunities for microsegmentation vendors to provide cloud-native microsegmentation solutions.
Threats: Traditional network security tools offer similar network segmentation capabilities at lower costs. Also, lack of skilled security experts impacts the effective implementation of microsegmentation solutions.
Key Takeaways
The Global Microsegmentation Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Microsegmentation Market is estimated to be valued at US$ 2328.75 Mn in 2023 and is expected to exhibit a CAGR of 61% over the forecast period 2023 to 2030.
Regional analysis indicates that North America is currently the dominant as well as the fastest growing regional market. With presence of major players and early technology adoption, North America contributes to over 35% of the global market share. Europe and Asia Pacific are other prominent markets for microsegmentation globally.
Key players operating in the microsegmentation market include AutoX, Inc., Baidu, BMW AG, Daimler AG, EasyMile, Ford Motor Company, GM Cruise LLC, Hyundai, Tesla, Inc., and Waymo LLC. These players are focusing on developing advanced microsegmentation solutions for cloud, data center and endpoint networks. They are also investing in partnerships and mergers to strengthen their market presence. For instance, in 2022 VMware acquired Anthropic to enhance its microsegmentation capabilities using artificial intelligence.
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