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The global network security market size was valued at $18.48 billion in 2019 and is projected to reach $63.40 billion by 2027, registering a CAGR of 16.7%. Factors such as immense focus on data safety and privacy, higher economic losses, and an increase in data safety and privacy concerns are driving the market growth. Digital technologies such as edge computing, IoT, and cloud computing are also increasing the demand for network security solutions. Policies such as the General Data Protection Regulation (GDPR) are also contributing to the market growth.
