Meticulous Research® has unveiled a detailed 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.” The study projects that the global edge security market will achieve a valuation of $82.4 billion by 2031, with a robust compound annual growth rate (CAGR) of 19.7% from 2024 to 2031.
The surge in market growth is attributed to the growing adoption of Secure Access Service Edge (SASE) solutions, which offer a unified approach to network security and IT management. SASE integrates security functions with cloud-based delivery, enhancing operational efficiency and reducing costs while improving overall security posture.
Cybersecurity threats remain a major catalyst for the market, as organizations increasingly face sophisticated attacks targeting edge environments. The need for advanced edge security solutions has never been more critical, prompting businesses to invest heavily in technologies designed to safeguard their data and infrastructure.
Despite these opportunities, the market contends with challenges related to securing complex and fragmented edge environments. These environments often involve a combination of legacy systems, modern applications, and IoT devices, making comprehensive security coverage difficult and resource-intensive.
The rollout of 5G technology presents a significant growth opportunity, driving the demand for advanced edge security solutions to complement the enhanced connectivity and speed offered by 5G networks. Additionally, the rise in cloud-based services adoption among small and medium-sized enterprises (SMEs) is expected to further stimulate market expansion.
Artificial intelligence (AI) is becoming increasingly influential in the edge security landscape. AI-driven security solutions offer sophisticated capabilities such as real-time threat detection and automated responses, enhancing the protection of edge networks. As AI technology evolves, its integration into edge security systems is anticipated to become more prevalent, contributing to market growth.
The market segmentation highlights a clear trend: in 2024, the solutions segment is expected to dominate due to the need for proactive security measures. Edge security solutions provide essential real-time monitoring and threat mitigation capabilities. Conversely, the services segment, although smaller, is projected to experience the highest growth rate, driven by the increasing demand for managed security services, particularly among SMEs.
Deployment mode analysis indicates that cloud-based solutions are set to capture the largest market share in 2024, attributed to their scalability and cost-effectiveness. Cloud-based deployment is expected to exhibit the highest CAGR during the forecast period, as more organizations transition to cloud environments. On-premise solutions continue to serve organizations with stringent security needs or those in regulated industries.
In terms of organization size, large enterprises are expected to lead the market in 2024 due to their extensive IT infrastructure and investment capacity. However, SMEs are anticipated to show the highest growth rate, fueled by the increasing adoption of digital technologies and rising cyber threats.
Sector-wise, the IT & telecommunications industry is projected to hold the largest market share in 2024, driven by the need for robust edge security solutions amidst the growing adoption of 5G technology. Meanwhile, the healthcare sector is forecasted to experience the highest growth rate due to the rising demand for telehealth services and data protection.
Geographically, North America is expected to dominate the edge security market in 2024, supported by significant investments in advanced technologies and edge data centers. The Asia-Pacific region, however, is projected to register the highest CAGR during the forecast period, driven by the increase in connected devices and government-led cybersecurity initiatives.
In summary, the global edge security market is poised for substantial growth, driven by advancements in technology, rising cyber threats, and increasing demand for secure edge computing solutions. While challenges remain, the opportunities presented by 5G, AI, and cloud services are expected to propel the market forward.
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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