The global security policy management market is growing significantly at 10.5% CAGR owing to the rising need to provide agility to business processes along with security and decrease the reliance on manual processes and increase geopolitical tensions. In addition, the risk owing to the digitalization of business and the increasing prominence of connected devices will drive growth in the security policy management market. Furthermore, the rising demand to generate security policies in commercial and military sectors, rising investment in R&D activities to develop various preventive security policies and regulations by authorities are other factors that propel the growth of the security policy management market.

The COVID 19 crisis has challenged the security policy management market, however, the rising demand for network post-COVID-19 pandemic and mounting demand for smart infrastructure, robotic applications, and sensor-based devices has had a positive impact on the global security policy management market.

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Based on application, the network policy management holds the largest share in the market in 2020 owing to its rising prominence and is anticipated to grow owing to the increase in networking and cross-communication in various industries.

North America holds the largest market share in the security policy management market owing to the robust adoption of cloud services, rising number of cyberattacks especially in the BFSI sector, mounting demand for effective risk management solutions, shifting trend towards hybrid network model in the region. Moreover, the rising adoption rate of next-generation technologies like machine learning, deep learning, and cloud computing, specifically in healthcare sector for advanced patient care.

The prominent players in the global security policy management industry include Cisco Systems, Inc., Check Point Software Technologies Ltd, Palo Alto Networks, Inc., Micro Focus International plc, McAfee, LLC, HelpSystems, LLC, AlgoSec, Juniper Networks, FireMon, LLC, and Tufin.

Source: VynZ Research