Global unified threat management market was valued at USD 3.96 Billion in 2018. It is projected to grow at a CAGR 14.5% between 2019 and 2025. Due to increasing cyberattacks and the growing importance of cybersecurity around the world, the market has seen significant growth. The market for unified threat management (UTM), which is a combination of security measures used by corporates to curb cybercrimes, will see significant growth during the forecast period.
The increasing dependence on web applications will lead to a significant rise in identity theft and data theft. This is expected to increase the demand for UTM solutions to secure web applications. These solutions are also affordable and easy to use. The market's growth prospects will be further enhanced by the increasing awareness of virtual private networks among end-users, and the development next-generation UTM products.
UTM is a new type of firewall that can perform many security functions. It is capable of performing many security functions such as network firewalling, gateway anti-spam and data leak prevention, gateway antivirus, gateway intrusion prevention and gateway virus, load balancing and on-appliance reporting. This will drive market growth during the forecast period.
UTM solutions have many advantages. They can meet regulatory compliance, simplify technical training, and offer an integrated approach. UTM integrates security functions to speed up data processing and reduce the amount of resources needed for inspection. This will further increase the demand.
A combination of multiple security tools in one network device can lead to network performance degradation, which could impact market growth. UTM is a single-point solution. If the solution fails, all other threat management solutions would be vulnerable to cyberattack. This could also hinder market growth.
The unified threat management market can be divided by component into three segments: hardware, virtual, and software. Due to growing demand for UTM devices that reduce cyberattacks around the world, the hardware segment will dominate the market during the forecast period. UTM devices equipped with Application-specific Integrated Circuit chipsets allow for simultaneous scanning of multiple threats. ASIC-based processing hardware is capable of meeting high-speed network demands and offers higher levels of security and efficiency.
The UTM market can be divided into three segments based on service: support & maintenance (managed UTM), and consulting. Because of the growing demand for skilled technicians and third-party support and maintenance, the support & management segment is expected to dominate. The consulting service segment is expected to grow due to the growing demand for services that can help protect critical data and provide professional guidance about new solutions. UTM requirements can vary greatly from one organization to the next. This will drive demand for consulting services.
Cloud deployment will be the preferred method for deploying UTM solutions. Cloud deployment allows for large-scale customization of services and solutions for organizations. It can also be used to set up a control centre for organizing and coordinating different components of the UTM. These are the factors that will drive cloud deployment demand over the forecast period. Technology advancements are also driving cloud deployment's demand. This deployment eliminates the need to host, procure, maintain, and manage on-premise firewalls within an organisation. It also offers cost-savings and ease-of-use. This will also boost segment growth during the forecast period.
The enterprise size segment was dominated by small and medium enterprises, which was valued at USD 2,196.0 millions in 2018. UTM solutions are being implemented by small and medium enterprises in emerging economies like India and China to improve their business capabilities. The segment is expected to grow over the forecast period. There has been an increase in the demand for next-generation Intrusion Protection System (IPS), firewalls and web security gateways due to advanced threats like cross-site scripting, Structured Query Language injection (SQL) and Distributed Denial of Service (DDoS). These attacks have targeted small and medium enterprises around the world. These threats are driving small and medium enterprises to choose UTM solutions.
The UTM market can be segmented by end use into BFSI (business, finance, healthcare), retail, manufacturing, telecom & IT and other segments. Over the forecast period, Telecom & IT will be the largest end-use segment. Increasing use of digital, information-gathering protocol is expected to be a major driver for the adoption of UTM in the segment.
In addition, hackers are increasingly targeting point-of-sale architecture to gain access users' sensitive information, such as card details. This will drive adoption of UTM solutions in the BFSI segment.
North America was the largest revenue share in 2018. It will continue to be the leader in the future market due to its growing cloud security infrastructure. The market is expected to grow due to increased awareness about the importance of cybersecurity in a digital age. Asia Pacific will see the highest CAGR between 2019 and 2025. The region's growing number of SMEs is expected to increase the demand for affordable UTM solutions. Vendors are constantly improving their products to meet the needs of end users and improve performance. These factors will also drive the regional market.
Barracuda Networks, Inc., Cisco Systems, Inc., Check Point Software Technologies Ltd., SonicWall, Fortinet, Inc., Huawei Technologies Co., Ltd., Untangle, Inc., Juniper Networks, Inc., Sophos Ltd., and WatchGuard Technologies, Inc. are key players in this market.
Many strategies are being used by companies, including mergers and acquisitions, product/solution development and collaborations. WatchGuard Technologies, Inc. introduced the Firebox T series of UTM systems in October 2018. It features upgraded hardware. This system provides security and high network speeds for small offices, distributed businesses, and home offices.
This report predicts revenue growth and volume growth at the global, regional and country level. It also provides analysis of industry trends for each sub-segment from 2014 through 2025. Grand View Research has divided the global unified risk management market report by component, service, deployment, enterprise sizes, end use, region, and country.
Component Outlook (Revenue USD Million, 2014-2025)
Hardware
Software
Virtual
Service Outlook (Revenue USD Million, 2014-2025)
Consulting
Support & Maintenance
Managed UTM
Forecast for Deployment (Revenue, USD million, 2014-2025)
Cloud
On-premise
Enterprise Size Outlook (Revenue USD Million, 2014-2025)
Large Enterprise
Small and Medium Enterprises (SME)
End Use Outlook (Revenue USD Million, 2014-2025)
BFSI
Government
Healthcare
Manufacturing
Retail
Telecom & IT
Other
Regional Outlook (Revenue USD Million, 2014-2025)
North America
U.S.
Canada
Europe
U.K.
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Middle East & Africa (MEA)
Up Market Research published a new report titled “Unified Threat Management Market research report which is segmented by Component (Virtual, Hardware), by End Use (Telecom & IT, BFSI), by Enterprise Size (SME), By Players/Companies Inc; Sophos Ltd; and WatchGuard Technologies, Ltd; Untangle, Inc; Cisco Systems, Inc; Huawei Technologies Co, Inc, Inc; Juniper Networks, Barracuda Networks, Inc; Check Point Software Technologies Ltd; SonicWall; Fortinet”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Unified Threat Management Market Research Report |
By Component | Virtual, Hardware |
By End Use | Telecom & IT, BFSI |
By Enterprise Size | SME |
By Companies | Inc; Sophos Ltd; and WatchGuard Technologies, Ltd; Untangle, Inc; Cisco Systems, Inc; Huawei Technologies Co, Inc, Inc; Juniper Networks, Barracuda Networks, Inc; Check Point Software Technologies Ltd; SonicWall; Fortinet |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 223 |
Number of Tables & Figures | 157 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Component (Virtual, Hardware), by End Use (Telecom & IT, BFSI), by Enterprise Size (SME).
Unified Threat Management Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Unified Threat Management Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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