The Edge Security Market is to reach $68.1 billion by 2030 at a CAGR of 19.1% during 2023–2030. The growth of the global edge security market is mainly driven by the increasing adoption of secure access service edge (SASE) to reduce IT costs & complexities and rising security concerns and risk of cyberattacks. Furthermore, the increasing use of 5G technology to enhance communications infrastructure and the rising adoption of cloud-based services among SMEs are expected to generate growth opportunities for market stakeholders.
Surging Adoption of Artificial Intelligence (AI) Across Industries is a Prominent Trend in the Edge Security Market
Artificial Intelligence (AI) plays a pivotal role in automating tasks, streamlining processes, and minimizing human errors for organizations across diverse industries. Its implementation aids enterprises in fostering innovation, reducing costs, and gaining a competitive edge. The integration of AI extends to sectors such as healthcare, finance, and manufacturing.
Within the finance industry, AI is harnessed for crucial functions like fraud detection, algorithmic trading, and risk management. Notably, Deutsche Bank AG (Germany) entered a partnership with Nvidia Corporation (U.S.) in December 2022, leveraging AI to enhance financial services. Through the incorporation of NVIDIA’s AI Enterprise software, the bank achieved improved risk management, increased efficiency, and enhanced customer service.
However, the widespread adoption of AI technologies has introduced cybersecurity challenges, including concerns about data poisoning, adversarial attacks, and model inversion attacks. It is imperative for organizations to implement robust security measures to safeguard AI systems, mitigate cyber risks, and uphold data privacy and access control. Edge security solutions emerge as a crucial component in this regard, as they protect the network's edge where data and devices connect to the internet or local networks. Consequently, the increasing adoption of AI technologies is anticipated to drive the demand for edge security solutions across industries in the foreseeable future.
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Key Findings in the Edge Security Market Study:
In 2023, the Solutions Segment to Dominate the Edge Security Market
Based on offering, the global edge security market is segmented into solutions and services. In 2023, the solutions segment is expected to account for the larger share of 51.5% of the global edge security market. The segment’s large share is attributed to the increasing adoption of edge security solutions to monitor network activity for suspicious behavior, prevent cyberattacks, and deliver applications to users with greater security and the growing need to secure data in transit and prevent unauthorized access.
Edge security solutions help to protect computing infrastructure at the network edge, where devices and systems interact with the external environment. Edge security solutions also protect the data that enters and exits the network with encryption technologies and data loss prevention measures. It enables access control and enforces secure remote access through solutions like Virtual Private Networks (VPNs) and other encryption gateways.
Key market players are investing in R&D to develop new edge security solutions that can help organizations improve security infrastructure and customer experience. For instance, in May 2023, Barracuda Networks, Inc. (U.S.) launched a new platform called Barracuda SecureEdge, a SASE solution that helps make hybrid and remote work easier to secure. Barracuda SecureEdge integrates Barracuda’s Secure SD-WAN, Firewall-as-a-Service, Zero Trust Network Access, and Secure Web Gateway capabilities.
FIGURE 1 EDGE SECURITY MARKET, BY OFFERING, 2020-2030(USD MILLION)
However, the services segment is expected to register a higher CAGR of 21.8% during the forecast period. The growth of this segment is driven by the rising demand for comprehensive security across enterprise systems, the growing adoption of managed security services among small & medium-sized enterprises, and the increasing demand for security auditing, network security assessment, and firewall assessment services.
North America: Largest Regional Market
Based on geography, the global edge security market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of 34.4% of the global edge security market. The growth of this market is attributed to the increasing investment in edge data centers, the growing adoption of edge security solutions to improve the security of data stored in the cloud, and the rising adoption of advanced technologies such as cloud computing, AI, and IoT.
North America is focused on innovating its existing infrastructure. Governments in the region have undertaken initiatives to develop edge security infrastructure, propelling the demand for edge security solutions. For instance, in 2020, the U.S. government passed a new IoT cybersecurity law, the NIST Internet of Things Cybersecurity Improvement Act, to increase cybersecurity for IoT devices. Furthermore, the increasing adoption of advanced technologies such as cloud computing, AI, and IoT in enterprises and telecommunications companies within the region is also expected to propel the growth of edge data centers in North America.
The growing adoption of edge security solutions in the region to improve the security of data stored, reducing broader network vulnerabilities and decreasing the amount of sensitive data transmitted. Additionally, various edge security solution providers in this market have launched various initiatives to protect edge data centers. For instance, in June 2023, Absolute Software Corporation (Canada) announced the expansion of its differentiated Security Service Edge (SSE) solution with the launch of the Absolute Secure Web Gateway Service. This new extended offering includes Absolute ZTNA and Absolute Insights for the network that empowers organizations to strengthen security, boost productivity, and ensure compliance with internal IT and security policies.
However, the Asia-Pacific region is expected to register the highest CAGR of 20.2% during the forecast period due to the surging demand for edge security solutions due to the increasing number of connected devices in the region, the growing need to deploy edge security solutions to ensure data, network, and device security, and government initiatives to ensure the highest level of edge security for the region’s industrial sector.
FIGURE 2 GLOBAL EDGE SECURITY MARKET SHARE, BY REGION, 2023
Report Summary:
Particulars
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Details
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Number of Pages
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250
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Format
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PDF
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Forecast Period
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2023-2030
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Base Year
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2022
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CAGR
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19.10%
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Estimated Market Size (Value)
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$68.1 billion by 2030
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Segments Covered
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By Offering
- Solutions
- Software-defined Wide Area Network Solutions
- Secure Web Gateway Solutions
- Firewall-as-a-Service Solutions
- Cloud Access Security Broker Solutions
- Zero Trust Network Access Solutions
- Other Edge Security Solutions
- Services
- Professional Services
- Integration Services
- Training, Consulting, and Advisory Services
- Support & Maintenance Services
- Managed Services
By Deployment Mode
- Cloud-based Deployment
- On-premise Deployment
By Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
By Sector
- IT & Telecommunications
- BFSI
- Retail & E-commerce
- Healthcare
- Government
- Manufacturing
- Energy & Utilities
- Education
- Other Sectors
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Countries Covered
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North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Rest of Asia-Pacific), Latin America, and the Middle East & Africa.
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Key Companies
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Cisco Systems, Inc. (U.S.), Broadcom Inc. (U.S.), Check Point Software Technologies Ltd. (Israel), Palo Alto Networks, Inc. (U.S.), Fortinet, Inc. (U.S.), Juniper Networks, Inc. (U.S.), Zscaler, Inc. (U.S.), Cloudflare, Inc. (U.S.), F5, Inc. (U.S.), Akamai Technologies, Inc. (U.S.), Barracuda Networks, Inc. (U.S.), Forcepoint LLC (U.S.), Versa Networks, Inc. (U.S.), Cato Networks Ltd. (Israel), and Skyhigh Security (U.S.).
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Key questions answered in the report: