Security News > 2020 > April > Global NAC market estimated to reach $2.21 billion by 2024

The proliferation of the IoT, the convergence of IT and OT, and customers' migration to the cloud at a faster pace are rapidly driving the global NAC market, according to Frost & Sullivan.

The sector is estimated to increase by two-thirds, reaching $2.21 billion by 2024 from $1.35 billion in 2019, at a compound annual growth rate of 10.4%. With 60.2% market share, North America will continue to be the largest market for NAC until 2024; APAC is the fastest-growing region and its share of the global NAC market is estimated to increase from 9.9% in 2019 to 11.9% in 2024.

Thereafter, the NAC market is expected to regain annual double-digit growth rates as organizations settle into a "New normal."

Vendors should continue to innovate cloud security, work closely with AWS, Azure, Google Cloud, and other tech vendors, and focus on virtual appliances and NAC as Software-as-a-Service.

The complexity of 802.1X deployment, surging diversity of IoT devices, and increasing NAC solution costs for large enterprises are likely to hinder the market.

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