Edge Security Market to Be Worth $82.4 Billion by 2031

 

Meticulous Research^®—leading global market research company, published a research report titled, 'Global 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.’

According to this latest publication from Meticulous Research^®, the global edge security market is projected to reach $82.4 billion by 2031, at a CAGR of 19.7% from 2024–2031. 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 for 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.

Based on offering, the global edge security market is segmented into solutions & services. In 2024, the solutions 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 increasing adoption of edge security solutions to monitor network activity for suspicious behavior, prevent cyberattacks, and deliver applications to users with greater security and the growing need to secure data in transit and prevent unauthorized access.

However, the services segment is projected to register a higher CAGR during the forecast period due to the rising demand for comprehensive security across enterprise systems, the growing adoption of managed security services among small & medium-sized enterprises, and the increasing demand for security auditing, network security assessment, and firewall assessment services.

Based on deployment mode, the global edge security market is segmented into on-premise deployment and cloud-based deployment. 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 increasing adoption of cloud-based solutions among small & medium-sized enterprises and the growing utilization of edge security services to safeguard edge networks against cyberattacks. Also, this segment is projected to register a higher CAGR during the forecast period.

Based on organization size, the global edge security market is segmented into large enterprises and small & medium-sized enterprises. In 2024, the large enterprises 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 large enterprises’ strong IT infrastructure and increasing adoption of edge security services to reduce cyberattacks on their edge networks.

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, and the increasing number of cyberattacks on edge networks.

Based on sector, the global edge security market is segmented into BFSI, retail & e-commerce, government, IT & telecommunications, manufacturing, healthcare, education, energy & utilities, and other sectors. In 2024, the IT & telecommunications segment is expected to account for the largest share of the global edge security market. The large market share of this segment is attributed to IT & telecom companies’ increasing need to protect networks, data, and devices at the edge, the growing utilization of 5G networks, and the rising need to reduce complexities and improve visibility across IT networks.

However, the healthcare segment is projected to register the highest CAGR during the forecast period due to the healthcare organizations’ growing need to protect patient data, maintain regulatory compliance, and secure IoT devices, and the increasing adoption of telehealth services.

Based on geography, the global edge security market is segmented into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa. In 2024, North America is expected to account for the largest share of the global edge security market. The growth of this market is attributed to the increasing investment in edge data centers, the growing adoption of edge security solutions to improve the security of data stored in the cloud, and the rising adoption of advanced technologies such as cloud computing, AI, and IoT.

However, the Asia-Pacific region is expected to register the highest CAGR during the forecast period due to the surging demand for edge security solutions due to the increasing number of connected devices in the region, the growing need to deploy edge security solutions to ensure data, network, and device security, and government initiatives to ensure the highest level of edge security for the region’s industrial sector.

Key Players

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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Key Questions Answered in the Report:

·  Which are the high-growth market segments in terms of offering, deployment mode, organization size, and sector?

·  What is the historical market size for the global edge security market?

·  What are the market forecasts and estimates for 2024–2031?

·  What are the major drivers, restraints, opportunities, challenges, and trends in the global edge security market?

·  Who are the major players in the global edge security market, and what are their market shares?

·  What is the competitive landscape like?

·  What are the recent developments in the global edge security market?

·  What are the different strategies adopted by major market players?

·  What are the trends and high-growth countries?

·  Who are the local emerging players in the global edge security market, and how do they compete with other players?

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