Security Services Edge Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030
Page: 215 | Report Code: ICTM240801 | Research Suite: Report (PDF) & Market Data (Excel)
The global market value of Security Service Edge Market was valued at USD 8.8 billion in 2022, and a CAGR of 25.3% is expected during the forecast period. Increasing demand to adopt the ZTNA framework is a significant driver. The increasing threat of data security in an organization and cyber-attacks are driving growth in the market significantly. Rising adoption of remote work cultures and increased reliance on cloud services necessitate more robust cloud-based security solutions.
Increasing demand for cost-saving solutions in the market is driving growth in the market significantly. SSE solutions provide scalable and flexible security options that adapt to changing business needs and environments. Growing awareness of the benefits of security service edge and its role in enhancing security posture is driving growth in the market. Increasing demand to protect the data in various types of organizations has become the biggest challenge in the market these days.
Growth Drivers
Increasing cybercrime all over the world is driving growth in the market significantly. Data confidentiality and data integrity are desired all over the world. Post-Covid-19, the remote work culture increased drastically, and that enhanced the need for SSE significantly in the market. Increasing cases of data breaches are driving the demand for security service edge. Increased reliance on cloud services is driving growth in the market. Stricter data protection regulations and compliance requirements drive demand for security solutions that ensure adherence.
Organizations seek integrated
solutions that combine various security functions, such as threat detection and
response, into a unified platform. SSE solutions provide cost-effective
solutions by consolidating security functions and reducing the need for
multiple-point solutions. Increasing demand for scalable and flexible security
options is driving growth in the market significantly. Increasing emphasis on
cryptography as a solution for cyber threats in various activities is driving
growth in the market significantly.
Segmentation
By Offering
·
Solutions
·
Services
Based on Vertical
·
BFSI
·
Government
·
Retail and E-Commerce
·
IT and ITeS
·
Healthcare
·
Education
·
Manufacturing
·
Others
Based on Services
·
Managed Security Services
·
Implementation and Integration Services
·
Support and Maintenance Services
·
Other Services
Based on Solutions
·
Zero Trust Network Access
·
Cloud Access Network Security Broker
·
Secure Web Gateway
·
Firewall-as-a-Services
·
Other Solutions
Regional Outlook
·
Asia Pacific
·
North America
·
Latin America
·
Middle East and Africa
·
Europe
Security Service Edge Market by
Offering Segmentation
On the basis of the offering, the security service edge market is segmented into solutions and services. Services are the leading segment in the market and are expected to dominate during the forecast period. Services include activities like security personnel, monitoring, and consulting that cater to immediate and ongoing needs.
These services provide flexibility and direct support to businesses and individuals, often making them the more prominent segment compared to the solutions. Solutions, however, is rated as one of the most important segments inside an enterprise or organization. Increasing demand for cybersecurity all around the world is driving growth in the market.
Security Service Edge Market by
Verticals Segmentation
On the basis of the verticals, the security service edge
market is segmented into BFSI, education, healthcare, manufacturing, IT, and
ITeS, and retail and e-commerce. IT is the leading segment in the market and is
expected to dominate the market during the forecast period. The IT sector is a
major consumer of SSE solutions due to the increasing complexity and scale of
the IT environment, which requires robust security measures. BFSI is another leading
segment in the market because of high regulatory requirements and the need to
protect sensitive financial and personal data within an organization.
Retail and e-commerce is another leading segment in the
market due to the sector handling a large volume of financial transactions and
sensitive customer data, making them prime targets for cyberattacks. Retail and
e-commerce businesses are often targeted by fraudsters looking to exploit
vulnerabilities in payment systems. These industries emphasize protecting
customer data and maintaining trust, as breaches do lead to significant
reputational damage and financial loss. Retail and e-commerce increasingly rely
on digital platforms, so the need for comprehensive security solutions to
protect online transactions, customer information, and operational systems
grows.
Government is also an important segment in the market, as in
order to prevent the data loss and to ensure that there should be a check on
cybercrimes happening all around the world, strict cyber rules are made by the
government. Cyber-Cells are established all around the world to minimize the
impact of cybercrime.
Regional Outlook
On the basis of the regions, the security service edge market is segmented into 5 parts: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. North America is the leading segment in the service security threat market because of significant cyber security threats, prompting organizations to invest heavily in advanced security solutions like SSE. Region is hub for technological innovation and early adoption of new technologies.
North American companies have sophisticated IT
infrastructures and are more likely to integrate SSE solutions providers, and
technology companies are based in North America, contributing to market growth.
High awareness and expertise in cyber security among businesses and IT
professionals in North America drive the adoption of SSE solutions. Many
leading SSE solution providers and technology companies are based in North America,
contributing to market growth significantly. Organizations in North America
allocate significant amounts of money for IT security, supporting the adoption
of advanced SSE technologies.
Asia Pacific is the second-leading segment in the world due to increasing awareness among IT professionals and normal citizens about data security. The region is experiencing rapid growth in digital transformations, increasing the need for robust security solutions. Significant investment from both the public and private sectors in cyber security is contributing to market growth significantly. The region’s strong economic growth supports increased IT spending, including on security services. Many countries in the region are enhancing their cybersecurity policies and regulations, which boosts the need for security services.
Key Players
·
Palo Alto Networks
·
Trend Micro
·
Broadcom
·
Fortinet
·
Open Systems
·
Menlo Security
·
Forcepoint
·
Lookout
·
iBoss
·
Aruba Networks
·
Skyhigh Security
·
Cisco
·
Netskope
·
ZScaler
· Other Players