REDDING,
Calif., May 14, 2024 /PRNewswire/ -- According to
a new market research report titled, 'Edge Security
Market by Offering (Solution, Services), Deployment
Mode, Organization Size, Sector (IT &
Telecommunications, Healthcare, Retail &
E-Commerce, BFSI, Government, Energy &
Utilities), and Geography—Global Forecast to
2031,' the edge security market is projected to reach
$82.4 billion by 2031, at a CAGR of
19.7% from 2024–2031.
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Edge security is the process of securing the network at the edge
where the end user is both creating and storing data in a larger
network. Edge security covers the resources needed to properly
secure decentralized edge networks instead of
traditional centralized or cloud environments. Enterprises need to
have a secure and confidentiality-oriented network combined with
highly accessible and low-latency data transmission. The various
edge security solutions such as software-defined wide area network,
secure web gateway, cloud access security broker, firewall as a
service, and zero trust network access help to secure the edge
network for several industries.
The growth of the global edge security market is mainly
driven by the increasing adoption of secure access service edge
(SASE) to reduce IT costs and complexities and rising security
concerns and risk of cyberattacks. However, the complex and
fragmented nature of edge environments are factors restraining the
growth of this market. Furthermore, the increasing use of 5G
technology to enhance communications infrastructure and the rising
adoption of cloud-based services among SMEs are expected to
generate growth opportunities for market stakeholders. However,
misconceptions and lack of knowledge regarding edge security are
major challenges to market growth. Additionally, the surging
adoption of artificial intelligence (AI) across industries is a
prominent trend in the global edge security market.
The global edge security market is segmented by offering
(solutions [software-defined wide area network solutions, secure
web gateway solutions, cloud access security broker solutions,
firewall-as-a-service solutions, zero trust network access
solutions, and other edge security solutions] and services
[professional services {integration services, training, consulting,
and advisory services, and support & maintenance services} and
managed services]), deployment mode (on-premise deployment and
cloud-based deployment), organization size (large enterprises and
small & medium-sized enterprises), sector (BFSI, retail &
E-commerce, government, IT & telecommunications, manufacturing,
healthcare, education, energy & utilities, and other sectors).
The study also evaluates industry competitors and analyzes the
market at geographical levels.
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Based on offering, in 2024, the solutions segment is
expected to account for the larger share of 50.3% of the
edge security market. The large market share of this segment is
attributed to the growing need to secure data in transit and
prevent unauthorized access and the increasing adoption of edge
security solutions to monitor network activity for suspicious
behavior and prevent cyberattacks. However, the services
segment is projected to register a higher CAGR during the forecast
period.
Based on deployment mode, in 2024, the cloud-based
deployment segment is expected to account for the larger share of
the global edge security market. The large market share of this
segment is attributed to the growing utilization of edge security
services to safeguard edge networks against
cyberattacks and the increasing adoption of cloud-based
solutions among small & medium-sized enterprises. Also, this
segment is projected to register a higher CAGR during the forecast
period.
Based on organization size, in 2024, the large
enterprises segment is expected to account for the larger share of
the global edge security market. However, the small &
medium-sized enterprises segment is projected to register the
highest CAGR during the forecast period due to the increasing
adoption of edge security solutions & services among small
& medium-sized enterprises (SMEs) to track, monitor, and manage
assets, the growing digital transformation across industries.
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Based on sector, in 2024, the IT &
telecommunications segment is expected to account for the
largest share of the 26.7% of edge security market. The
large market share of this segment is attributed to the growing
utilization of 5G networks, the rising need to reduce complexities
and improve visibility across IT networks, and IT &
telecom companies' increasing need to protect networks, data, and
devices at the edge. However, the healthcare segment is
projected to register the highest CAGR during the forecast period
due to the increasing adoption of telehealth services and the
growing need to protect patient data, maintain regulatory
compliance, and secure IoT devices.
Based on geography, in 2024, North America is expected to account for the
largest share of 33.3% of the edge security market. The
North America edge security market
is estimated to be worth USD 8.02
billion in 2024. The growth of this market is attributed
to the rising adoption of advanced technologies such as cloud
computing, AI, and IoT, the growing adoption of edge security
solutions to improve the security of data stored in the cloud,
and the increasing investment in edge data centers.
However, the Asia-Pacific edge security market is expected
to register the highest CAGR during the forecast period due to
government initiatives to ensure the highest level of edge security
for the region's industrial sector, the growing need to deploy edge
security solutions to ensure data, network, and device security,
and the surging demand for edge security solutions due to the
increasing number of connected devices in the region.
The key players operating in the edge security
market are Cisco Systems, Inc. (U.S.), Broadcom Inc.
(U.S.), Check Point Software Technologies Ltd. (Israel), Palo Alto Networks, Inc. (U.S.),
Fortinet, Inc. (U.S.), Juniper Networks, Inc. (U.S.), Zscaler, Inc.
(U.S.), Cloudflare, Inc. (U.S.), F5, Inc. (U.S.), Akamai
Technologies, Inc. (U.S.), Barracuda Networks, Inc. (U.S.),
Forcepoint LLC (U.S.), Versa Networks, Inc. (U.S.), Cato Networks
Ltd. (Israel), and Skyhigh
Security (U.S.).
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Scope of the Report:
Global Edge Security Market Assessment—By
Offering
- Solutions
- Software-defined Wide Area Network Solutions
- Secure Web Gateway Solutions
- Firewall-as-a-Service Solutions
- Cloud Access Security Broker Solutions
- Zero Trust Network Access Solutions
- Other Edge Security Solutions
- Services
- Professional Services
- Integration Services
- Training, Consulting, and Advisory Services
- Support & Maintenance Services
- Managed Services
Global Edge Security Market Assessment—By Deployment
Mode
- Cloud-based Deployment
- On-premise Deployment
Global Edge Security Market Assessment—By Organization
Size
- Large Enterprises
- Small & Medium-sized Enterprises
Global Edge Security Market Assessment—By
Sector
- IT & Telecommunications
- BFSI
- Retail & E-commerce
- Healthcare
- Government
- Manufacturing
- Energy & Utilities
- Education
- Other Sectors
Global Edge Security Market Assessment—By
Geography
- North America
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Singapore
- Rest of Asia-Pacific
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Latin America
- Middle East & Africa
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Related Blogs:
Top 10 Companies in Edge Security Market
Increasing Adoption of Secure Access Service Edge (SASE) to
Reduce IT Costs and Complexities Accelerating Market Growth
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