Unified Threat Management Market Strongly Driven by Rising Global Demand

Unified threat management is a necessity because the advanced malware brings a variety of cyber threats. Market Research Future (MRFR) has published a research report about the global unified threat management market that vaticinates success for this market at 14% CAGR (Compound Annual Growth Rate) during the forecast period between 2017 and 2023. By value, the market has been figured to be worth the US $ 7 bn by the end of the forecast period.

The key factors elevating the global unified threat management market include innovations leading to next-generation unified threat management and emerging awareness of virtual private network among consumers. The third factor to push market growth is the growing use of unified threat management due to its benefits that include multiple security & networking functions. Last reason to help market growth is the growing market of cloud deployment as small and medium businesses require it in order to simplify their information technology (IT) infrastructure.

The global unified threat management market has been segmented on the basis of the component, deployment, end users, organization size, and lastly region.The component-based segmentation segments this market into hardware and software. Based on deployment, the market can be segmented into on-cloud deployment and on-premise deployment.

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Regarding end users, the market has been segmented into banking, financial services and insurance (BFSI), government, IT & telecom, manufacturing, retail, utilities, and others. As per the organization size, the market has been segmented into small and medium-sized enterprises (SMEs) and large enterprises.

The regional segmentation of the global unified threat management market can segment the market into the regional markets known as North America, Europe, Asia Pacific, and rest of the world (RoW). North America is one of the leading regional markets due to the high demand. The demand for unified threat management originates from  the increasing rate of cloud security infrastructure. Other factors contributing to the market growth are the presence of key market players, huge requirement of advanced security services in organizations, and technological advancement in this region. The emerging trend in the IT industry is resulting in the full utilization of cloud services, mobile workforce, and other emerging technologies. Therefore, the market is growing due to these solutions combining with email security, network security, web security, and others. Important country-specific markets in this region are the USA, Canada, and Mexico.

During the forecast period, the market in Europe is expected to increase rapidly due to most of the reasons that are the same as in North America. The noted country-specific markets in this region are France, Germany, Italy, Spain, and the UK.

During the forecast period, the Asia Pacific market has been anticipated to emerge as the fastest growing market due to emerging economies like China, India, and Japan. In these countries, the IT industry is growing rapidly. Other significant country-specific markets in this region are Australia and New Zealand.

The RoW segment covers the countries of Latin America and the Middle East & Africa (MEA). Latin America is a smaller market because the availability of advanced technology is limited in this region. Argentina and Brazil are two vibrant economies that have the potential to rise as lucrative markets in the future. In the MEA region, the market is small due to poor countries, lack of awareness, lack of education, lack of skilled labor, and lack of technological advancement.

Key Players

The key players in the global unified threat management market include Aker Security Solutions (Brazil), Barracuda Networks Inc. (USA), Comodo Group Inc. (USA), Check Point Software Technologies Ltd. (Israel), Cisco Systems Inc. (USA), Dell Inc. (USA), Fortinet (USA), The Hewlett-Packard Company (USA), Hillstone Networks Inc. (China), Huawei Technologies Co. Ltd. (China), Intel Corporation (USA), International Business Machines Corporation(USA), Juniper Networks Inc. (USA), Netgear Inc. (USA), Palo Alto Networks Inc. (USA), Rohde & Schwarz GmbH & Co KG (Germany), Sophos Group PLC (UK), Stormshield (France), Symantec Corporation (USA), Trustwave Holdings (USA), Untangle (USA), Venustech (USA), WatchGuard Technologies Inc. (USA), and Zyxel Communications Corp (Taiwan).

Latest Industry News

  • Versa Networks, the innovator of the Secure Cloud IP Platform, has forged a partnership with Spectra, India’s leading and only service provider offering Internet and broadband on the end-to-end optical fiber network. This partnership aims to offer Software-Defined Managed Services for the Spectra and its clients. 5 FEB 2019

Global Satcom provider NSSLGlobal has signed a four-year, multi-million enhanced contract for communication and entertainment services with Teekay, one of the world’s largest marine energy production, storage, and transportation companies. The new contract is to provide not only an upgraded bandwidth capability across the Teekay fleet but also the installation of NSSLGlobal’s new virtualized Cruise Control+ appliance and the rollout of CrewVision, its crew entertainment service. 28 JAN 2019.

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