DUBLIN, March 1, 2024 /PRNewswire/ — The “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 2030” report has been added to ResearchAndMarkets.com’s offering.
The global edge security market is expected to reach a valuation of $68.1 billion by the year 2030. This significant growth, with a CAGR of 19.1% from 2023 to 2030, is largely fueled by the rising implementation of Secure Access Service Edge (SASE), increased awareness surrounding cybersecurity risks, and the burgeoning number of cyberattacks threatening the digital landscape.
Key Drivers and Market Insights
The report delves into the various offerings in the edge security space, including solutions and services, and identifies the solution segment as the dominant force in 2023, primarily due to its crucial role in monitoring network activity and thwarting cyber threats. Emphasis is placed on deployment modes, with cloud-based deployment taking precedence due to its growing popularity among small to medium-sized enterprises that seek to secure their edge networks efficiently.
Moreover, the research highlights the critical importance of organization size within the industry, pointing out that large enterprises currently hold a substantial market share. Nonetheless, small & medium-sized enterprises are expected to exhibit the highest CAGR during the forecast period, indicative of the sector’s rapid digital transformation and vulnerability to cyberattacks.
Sector Analysis and Regional Breakdown
The sector analysis presents a thorough examination of numerous industries that leverage edge security technologies, including BFSI, IT & telecommunications, and healthcare. The IT & telecommunications sector emerges as a prominent player, commanding a significant market share due to its intrinsic need for robust network and data security measures.
Conversely, the healthcare sector is anticipated to witness the most accelerated growth rate due to escalating requirements for patient data protection and the integration of telehealth services. Geographically, the study provides insights into several key regions. North America is showcased as the largest contributor to the market, attributed to heightened investment in edge data centers and the rapid adoption of cutting-edge technologies like AI, cloud computing, and IoT.
However, the Asia-Pacific region is poised to experience the fastest growth during the forecast period. Factors contributing to its expansion include the proliferation of connected devices, vital security deployment to protect data and infrastructure, and governmental support for industrial edge security.
Competitive Landscape and Strategic Insights
In the competitive analysis, the report identifies several major players who are influencing the growth trajectory of the global edge security market. Notably, these organizations are engaged in technological advancements and strategic collaborations that are shaping the market dynamics.
The research also discusses the current market trends and the challenges that industry stakeholders face. Importantly, it sheds light on the potential opportunities for growth, particularly in the deployment of 5G technology and cloud-based services among small and medium-sized enterprises, which are likely to amplify the demand for edge security solutions.
Comprehensive Market Evaluation
The significance of this research report lies in its exhaustive marketplace evaluation, addressing pivotal questions that industry professionals and stakeholders may have. It covers:
Growth segments by offering, deployment mode, organization size, and sectorHistorical market sizes and future forecastsMarket drivers, restraints, opportunities, and challengesCompetitive landscapes and market sharesRecent market developments and geographic trendsEmerging local players and their competitive positioning
Companies Mentioned
Cisco Systems Inc.Broadcom Inc.Check Point Software Technologies Ltd.Palo Alto Networks Inc.Fortinet Inc.Juniper Networks Inc.Zscaler Inc.Cloudflare Inc.F5 Inc.Akamai Technologies Inc.Barracuda Networks Inc.Forcepoint LLCVersa Networks Inc.Cato Networks Ltd.Skyhigh Security
For more information about this report visit https://www.researchandmarkets.com/r/m13p34
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