Unified Threat Management Market Scope
Market Research
Future (MRFR) presumes that the Unified
Threat Management Market 2020 can touch a striking valuation of USD 7 billion by
2023-end. The market is also slated to procure a CAGR of 14% between 2017 and
2023 (appraisal period).
Primary Boosters
and Key Barriers
The impact analysis
on covid-19 by MRFR suggests that the unified threat management market can
observe sustainable growth in the face of the prevalent economic turbulence.
The rising implementation of the remote working strategy, on account of the
lockdown has put massive stress on all the networking technologies and has led
to mounting concerns related to operational technology’s security risk, given
the fragile home network security. The long-term impact of covid-19 can mean
significant economic loss and various industries coming to a standstill.
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However, it is
projected that the ICT sector can be quite resilient, given the increasing use
of the cloud technology as well as communication technologies. MRFR is
incessantly assessing the short term impact of the pandemic on the industry dynamics,
while reviewing the future prospects, with the aim to offer actionable
insights. We will provide COVID-19 impact analysis with report.
The unified threat
management market can witness relentless expansion backed by the rising
instances of cyber-attacks coupled with the consequent increase in the need for
cyber-security. The market growth is also warranted by the increasing uptake of
the latest security measures and techniques across corporate sectors, in an
attempt to curb the number of cybercrimes.
The increasing use
of internet and the high dependency on the web applications has resulted in an
unprecedented surge in data and identity theft, which bolsters the demand for
UTM solutions. These solutions are also sought-after thanks to their low cost and
easy to use properties. The soaring awareness level regarding virtual private
network among enterprises belonging to various industries and the ongoing
attempts to boost the quality of UTM solutions can also enhance market
expansion prospects.
Market Segmentation
The primary
segments based on which the Unified Threat Management (UTM) Market has been
reviewed in the report include component, deployment, organization size and
end-users.
The components
covered during market review are hardware as well as software.
The
deployment-based segments include on-premise and on cloud.
The organization
size-wise market segmentation comprises small and medium-sized enterprises,
along with large enterprise.
The end-use
verticals include retail, Utilities, IT, BFSI, government, manufacturing,
telecom, and others.
Regional Insight
Asia Pacific or
APAC, North America, Europe and RoW or the Rest of the World are the main
regions considered while assessing the Unified Threat Management Industry.
North America ranks
among the top-performing markets for unified threat management solutions with
the strong demand arising due to the rising prevalence of the cloud security
infrastructure. The high awareness with
regard to cyber security and the knowledge about next-generation solutions that
are required to deal with the situation works in favor of the regional market.
Additionally, the renowned players in the region are constantly working on
enhancing the quality of their solutions with the addition of advanced features
that elevate the performance, with the basic objective of drawing in a higher
number of end-users. The top-notch level of efforts being given by the local
vendors to up their game and be one step ahead of their rivals benefits the
regional market as well.
The APAC market is
mainly concentrated in the emerging countries of India, Japan, and China. The
region is a fast emerging UTM market that can soon record the highest growth in
the following years. More and more small and medium enterprises in the region
are extensively deploying UTM solutions to boost their business capabilities.
Another reason for the widespread uptake of these solutions is the increasing
number of sophisticated threats such as Structured Query Language (SQL)
injection, Distributed Denial-of-Service (DDoS) and cross-site scripting across
SMEs, leading to fostered demand for UTM solutions across the region.
Renowned
Companies
Hillstone Networks
Inc. (China), Symantec Corporation (U.S), Check Point Software Technologies
Ltd. (Israel), Netgear Inc. (U.S), Huawei Technologies Co. Ltd. (China), Cisco
Systems Inc. (U.S), International Business Machines Corporation(U.S), Rohde
& Schwarz GmbH & Co KG (Germany), Dell Inc. (U.S), Sophos Group plc
(U.K), Trustwave Holdings (U.S), WatchGuard Technologies, Inc. (U.S), The
Hewlett-Packard Company (U.S), Juniper Networks, Inc. (U.S), Barracuda
Networks, Inc. (U.S), Comodo Group Inc. (U.S), Venustech (U.S), Stormshield
(France), Untangle (U.S), Palo Alto Networks, Inc. (U.S), Zyxel Communications
Corp (Taiwan), Aker Security Solutions (Brazil), Fortinet (U.S), Intel
Corporation (U.S), are the most renowned companies listed in the report.
Latest News
May 2020: Zain
Bahrain, a renowned telecommunication service provider, recently launched
unified threat management services along with SD-WAN managed services. The
latest product offering is part of the company’s elaborative strategic scheme
to come up with a vast portfolio of managed security services to cater to
businesses not only in Bahrain but internationally as well.
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