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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