Security Service Edge
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How Large Will the Security Service Edge Market Size By 2025?
The market size for the security service edge has seen incredibly rapid growth over the past few years. Its projected escalation is from $0.98 billion in 2024 to a whopping $1.25 billion by 2025, with a compound annual growth rate (CAGR) of 27.6%. This surge during the historical phase is due to factors such as digital transformation, the shift towards remote working, regulatory requirements, the increasing complexity of cyber threats, and the adoption of bring your own device policies.
How Big Is the Security Service Edge Market Size Expected to Grow by 2029?
The market size of security service edge is poised for substantial expansion in the upcoming years, with predictions indicating a growth to $2.92 billion by 2029, exhibiting a Compound Annual Growth Rate (CAGR) of 23.7%. The predicted growth during the forecast period is the result of factors such as advanced threats, IoT amplification, adoption of devops practices, acceptance of zero-trust security model, and a shift towards secure access service edge. Key trends for this period are set to include the merging of network security and wide area networking (WAN), a growing trend towards zero trust architectures, improved visibility of user and device, the use of artificial intelligence (AI) and machine learning (ML), and the increased prevalence of cloud-native security services.
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Which Key Market Drivers Powering Security Service Edge Market Expansion and Growth?
The escalation of cyber threats is anticipated to boost the expansion of the security service edge market in the future. Cyber threats involve harmful or potentially dangerous activities that take advantage of weaknesses in computer systems, networks, and digital infrastructure. Various factors contribute to its emergence, such as the mounting occurrence of significant data breaches and the advancing sophistication of cyber criminals. The security service edge counters these cyber threats by offering an all-inclusive cybersecurity solution, comprising of securing network connections, implementing access controls, defending cloud resources, protecting endpoints, securing data, and enhancing threat detection and response aptitudes. For instance, the Australian Cyber Security Centre, a cyber security agency based in Australia, stated in February 2023 that in 2022, there were 76,000 reports of cybercrime, which was a rise of 13% from the previous year. Consequently, the escalation of cyber threats is fuelling the expansion of the security service edge market.
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Which Fast-Growing Trends Are Poised to Disrupt the Security Service Edge Market?
Leading corporations in the security service edge market are focusing on innovative solutions like consulting security edge services, in response to the ever-changing cybersecurity outlook and heightened demands for strong security precautions. Said services represent a fresh bundle of network security provisions that offer a combined and modular strategy for consulting and rolling out an SSE. For example, Kyndryl Holdings Inc., an American IT service management firm, rolled out Kyndryl Consult Security Services Edge and Kyndryl Managed SSE in January 2024. These are two security edge services devised jointly with Cisco Systems Inc., a technology company based in the US. Their purpose is to aid clients in enhancing their cybersecurity while proactively tackling and responding to cyber threats. These services bolster security controls, proactively tackle cyber threats, and assist businesses in transitioning to a secure access service edge (SASE). Moreover, they empower businesses to lay the groundwork for transitioning to a secure access service edge (SASE), integrate a zero-trust network, and support hybrid work circumstances.
What Are the Emerging Segments in the Security Service Edge Market?
The security service edge market covered in this report is segmented –
1) By Type: Cloud-Based, Web-Based
2) By Component: Solution, Services
3) By End-Use: Banking, Financial Services, And Insurance, Healthcare And Life Sciences, Education, Information Technology And Telecommunications, Government, Retail And E-commerce, Manufacturing, Other End Users
Subsegments:
1) By Cloud-Based: Software As A Service (SaaS), Infrastructure As A Service (IaaS)
2) By Web-Based: Web Application Firewalls (WAF), Secure Web Gateways (SWG)
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Who Are the Global Leaders in the Security Service Edge Market?
Major companies operating in the security service edge market are Microsoft Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Broadcom Inc., VMware Inc., Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Akamai Technologies Inc., Citrix Systems Inc., Check Point Software Technologies Ltd., Proofpoint Inc., Zscaler Inc., Cloudflare Inc., Cyxtera Technologies Inc., Forcepoint LLC, SonicWall Inc., Barracuda Networks Inc., Open Systems AG, Cato Networks Inc., Appgate Inc., Versa Networks Inc., Netskope Inc., Wandera Limited, Menlo Security Inc.
Which are the Top Profitable Regional Markets for the Security Service Edge Industry?
North America was the largest region in the security service edge market in 2024. The regions covered in the security service edge market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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