Westford, USA, June 07, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Global Edge Security Market will attain a value of USD 111.36 Billion by 2031, with a CAGR of 21.5% over the forecast period (2024-2031). The chief factors driving the growth of the global edge security market are the increasing application of secure access service edge (SASE) for reducing IT expenses and simplification, along with rising security fears as well as the likelihood of cyber-attacks. However, the fragmented and complicated nature of edge settings is one of the issues impeding this market's growth. Furthermore, it is anticipated that market participants will have development possibilities due to the growing use of 5G technology to improve communications infrastructure and the growing uptake of cloud-based services among SMEs.
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Edge Security Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 23.45 Billion |
| Estimated Value by 2031 | $ 111.36 Billion |
| Growth Rate | Poised to grow at a CAGR of 21.5% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Deployment, Verticals, Deployment Mode and Organization Size |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Use of artificial intelligence and machine learning |
| Key Market Opportunities | Rising adoption of 5G services to improve communication infrastructure |
| Key Market Drivers | Rising demand for edge computing |
Strong Edge Security Solutions Are in High Demand, as Evidenced by Their High Market Share in Solution Component
Security solution's edge in the global market is due to the fact that they have many functions such as protecting against threats, encrypting data, and providing restricted access. As a result, there is a reduction in the likelihood of security breaches and data loss for decentralized networks and devices. As a result, there is an increasing need for strong edge security solutions, which is driving market expansion.
The Cloud's Cost-Effectiveness, ease of Integration, and Ability to Dominate a Sub-Segment
The global edge security market is dominated by cloud-based deployment due to its scalability, affordability, and simplicity of integration. This allows businesses to manage the distributed networks easily, respond quickly to a growing need for security, and ensure that maintenance is continuous and updated whenever necessary. Therefore, an increasing number of firms are opting for cloud-based solutions, hence widening the market and enhancing security stance.
Rising Prevalence of Sophisticated Cyberattacks in this Region Allows North America to Dominate
According to estimates, a sizeable portion of the global edge security market is held by North America. There is an expectation that the future requirement for edge security will rise sharply due to the fact that advanced cyber attacks have become a lot more frequent in this particular region. The adoption of edge security is also expected to be aided in the future by the presence of important technology organisations in this area and their increasing focus on security. According to projections, edge security vendors will find the largest market in the United States.
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Edge Security Market Insight
Drivers:
- Targeted Threats and Cyberattacks at Edge Environment
- Emergence of 5G Networks
- Growth in Mobile Device Use and Remote Work
Restraints:
- Complexity of Edge Environments
- Problems with Interoperability and Vendor Lock-In
- Regulatory and Compliance Challenges
Prominent Players in Edge Security Market
- VMware (US)
- Trend Micro (Japan)
- Akamai (US)
- Sophos (UK)
- Cloudflare (US)
- Juniper Networks (US)
- Netskope (US)
- Citrix (US)
- Forcepoint (US)
- Proofpoint (US)
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Key Questions Answered in Global Edge Security Market Report
- What is SkyQuest's estimated value and compound annual growth rate (CAGR) for the global edge security market by 2031?
- What advantages does cloud-based deployment provide for enterprises, and why does it dominate the worldwide edge security market?
- What aspects of the global edge security industry account for North America's sizeable market share, and how do these aspects affect the need for edge security solutions?
This report provides the following insights:
- Analysis of key drivers (Connecting to the internet & producing data at the edge of the network, data storage closer to the point of data collection, edge security assists organisations in adhering to edge security rules and edge security solutions lower the risk of data breaches), restraints (Integrating edge security solutions with legacy systems, additional investments is needed for integration efforts to ensure smooth compatibility and residency add complexity to edge security systems), opportunities (Linking 5G & edge computing technology, 5G increases speed by up to ten times in edge security and mobile edge computing reduces latency by bringing compute capabilities), and challenges (Manually updating tasks is tedious and advantage of centralized application updates) influencing the growth of edge security market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the edge security market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the edge security market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Related Reports:
Global Network Security Market
Global Managed Security Services Market
Global Application Security Market
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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