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.
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.
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.
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.
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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