North America Browser Isolation Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Deployment Type (Cloud and On-Premises), Enterprise Size (Large Enterprises and SMEs), and End-Use Industry (IT and Telecommunication, BFSI, Government, Manufacturing, and Others)
The browser isolation software market in North America is expected to grow from US$ 792.4 million in 2019 to US$ 2,675.3 million by 2027; it is estimated to grow at a CAGR of 17.2% from 2020 to 2027.
Demand encouragement for browser isolation from BFSI sector is expected to surge the growth of North America browser isolation software market. The BFSI sector is one of the industries displaying enormous growth over the years. As the IT industry progresses with advancements in technologies and solutions, the BFSI sector continues to grow with newer and robust technologies, which is likely to boost browser isolation software market. The BFSI sector is among the leading industries to incorporate technologically advanced solutions. The BFSI sector is also one of the vital infrastructure segments that witness several data breaches and cyber-attacks, owing to the large customer base and the availability of sensitive financial information. In the past, there have been several instances where the BFSI sector data was compromised. To combat and nullify the risk of data loss through malware infiltration in the network, the BFSI industry players are increasingly capitalizing on web browser security software, thereby substantially driving the North America browser isolation software market. The recent growth of investments in cyber-security technology is among the other factors expected to positively influence the demand for browser isolation software market in North America.
In terms of deployment type, the cloud segment led the North America browser isolation software market in 2019. The cloud-based software are getting increasingly popular among the technology in recent times because the cloud-based software simplifies the deployment time and significantly reduces the cost of deployment. This benefit has attracted a significant number of end-users. The majority of the browser isolation software market players are offering cloud-based products owing to the rising demand for cloud-based software. Also, the internet infrastructure has matured in developed countries and is flourishing in several developing countries, thereby allowing end-users in both developed countries and developing countries to access the cloud-based browser isolation software. Cloud deployments facilitate a flexible method to protect users present across North America thus influencing the browser isolation software market. Cloud deployments are suitable for enterprises of all sizes and highly distributed teams, comprising small IT teams. The cloud-based browsing isolates the end-user device and the enterprise’s network while completely facilitating IT control and compliance solutions. All these advantages of cloud such as simple process, and low cost, among others ultimately drive the growth of the North America browser isolation software market.
Further, the ongoing COVID-19 is having a very devastating impact over the North America region. Presently, the US is the worst-affected country due to the COVID-19 outbreak. North America is one of the most important regions for the adoption and growth of new technologies including browser isolation software market owing to favorable government policies to boost innovation, the presence of a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries including browser isolation software market is expected to affect the economic growth of the region in a negative manner. The US is a prominent market for browser isolation, especially in the IT & BFSI sectors. The huge increase in the number of confirmed cases and falling GDP in the country has affected these industries including browser isolation software market. The companies and business shutdowns across the US, Canada, and Mexico are impacting the adoption of the browser isolation software market. North America region is home to a large number of technology companies, and thus the impact of coronavirus outbreak is anticipated to be quite severe in the year 2020 and likely in 2021. However, the impact of COVID-19 is short-term and is likely to decrease in the coming years, thus boosting the browser isolation software market.
The overall North America browser isolation software market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the browser isolation software market. The process also serves the purpose of obtaining overview and forecast for the North America browser isolation software market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with browser isolation software market participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America browser isolation software market. Authentic8, Inc.; Bitdefender; Broadcom, Inc.; Bromium Inc.; Citrix Systems, Inc.; Cyberinc; Ericom Software.; Kasm Technologies; Menlo Security, Inc.; WEBGAP INC are among a few players operating in the North America browser isolation software market.
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