The Global Cybersecurity Mesh Market size is expected to reach $3.1 billion by 2028, rising at a market growth of 27.5% CAGR during the forecast period.
Cybersecurity mesh is a distributed architectural approach for scalable, adaptable, and reliable cybersecurity control that entails IT security design and implementation. Instead of erecting a single barrier around all devices, cyber security mesh involves constructing tiny, separate perimeters around each device and access point. It enables businesses to extend security wherever required. The cybersecurity mesh facilitates the implementation of a zero-trust architecture by safeguarding all accessible systems and data regardless of location.
Many companies invest in cybersecurity mesh to improve data security and prevent hackers from manipulating diverse network components. Cybersecurity mesh solutions are gaining acceptance, particularly because of enterprises' growing security concerns and heightened awareness of sophisticated cybersecurity. Rapid economic development, increasing acceptance of cloud-based services, expanding Internet of Things (IoT) deployment, and rising need for cyber-savvy boards are driving the market's growth.
Cybersecurity mesh architecture offers a flexible and scalable approach for increasing security controls even for widely separated assets. Its versatility makes it perfect for more modular strategies and compatible with hybrid multi-cloud systems. Cybersecurity mesh allows a more composable, flexible, and robust security infrastructure. A cybersecurity mesh enables technologies to interoperate across many supported layers, such as centralized policy management, security intelligence, and identity fabric, instead of each security solution operating in isolation.
The COVID-19 outbreak significantly impacted the general behavior of customers and service providers. The temporary shutdown of production units, labor shortages, lack of resources, data breaches, and disrupted supply chain has significantly impacted corporate expansion. Several small and medium-sized enterprises across the world experienced permanent and temporary closures, and some faced temporary closures. Globally, the pandemic affected small businesses and start-ups, negatively affecting the demand for internet security products and services like cybersecurity mesh.
Cyberspace has changed during the past few decades. Historically, corporations concentrated on safeguarding the network's perimeter, ensuring that the network's inside remained a secure, trusted environment. The pandemic has dramatically boosted organizations' use of the internet. IT firms have complicated security requirements, rendering the current security architectural techniques outdated. This quickly evolving digital ecosystem needs an updated security strategy to minimize all security risks and operational burdens. The perimeter of the enterprise network has evolved. These factors are boosting market growth.
Enterprises aspire to develop a unified security posture across multi-cloud environments. Cybersecurity mesh architecture (CSMA) allows people and machines to connect securely from numerous locations across hybrid and multi-cloud environments, channels, and diverse application generations, safeguarding the enterprise's digital assets. Hence, as CSMA safeguards the multi-cloud environment, which is becoming essential due to multi-cloud's rising adoption, the growth of the cybersecurity mesh market is expected to propel.
Companies require competent cybersecurity workers today more than ever. Thus, many firms report that their board of directors advises raising headcount for IT and cybersecurity. After security administrators and architects, cloud security professionals and security operations analysts remain among the most sought-after positions in cybersecurity. Hence the shortage of skilled professionals, which is unable to meet the increasing demand for cybersecurity solutions, is expected to hinder the cybersecurity mesh market growth.
On the basis of offering, the cybersecurity mesh market is divided into solution and services. The solution segment witnessed the largest revenue share in the cybersecurity mesh market in 2021. This is owing to the fact that cybersecurity mesh solution comprises an ecosystem of security technologies for securing a distributed company. The cybersecurity mesh solution adds supplemental layers for fundamental security capabilities. It integrates composable, distributed security technologies by centralizing the data and control plane and establishing device cooperation. These solutions provide unified protection across the entire IT infrastructure, including networks, cloud, endpoints, mobile, and IoT devices.
By vertical, the cybersecurity mesh market is classified into BFSI, healthcare, IT & ITeS, energy & utilities and others. The BFSI segment garnered a prominent revenue share in the cybersecurity mesh market in 2021. This is owing to the sensitivity of financial data, BFSI is an early user of innovative cybersecurity solutions. The banking industry is riddled with cyberattacks due to the high frequency and size of inter-organizational money transfers. It faces difficulties associated with tight regulatory and security standards while offering exceptional service to clients and others.
Based on the enterprise size, the cybersecurity mesh market is bifurcated into small & medium sized enterprises and large enterprises. The small & medium sized enterprises segment recorded a significant revenue share in the cybersecurity mesh market in 2021. This is owing to the usage of digital technology by SMEs, which increases their vulnerability to hackers. SMEs implement cybersecurity mesh solutions to safeguard their organizations from illegal access, openness, and threats. One of the primary goals of attackers who target SMEs is to get access to sensitive consumer data, such as personal and other confidential information.
By deployment mode, the cybersecurity mesh market is divided into cloud and on-premise. The cloud segment generated the highest revenue share in the cybersecurity mesh market in 2021. This is due to the fact that a third-party service provider handles all hosting and maintenance requirements in the cloud. The organization adopting and delivering cloud-based solutions leverages the pay-per-use approach. The implementation is flexible and adaptable, allowing firms to upgrade or downgrade their plans based on the development and scalability of their businesses.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 721.5 Million |
| Market size forecast in 2028 | USD 3.1 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 27.5% from 2022 to 2028 |
| Number of Pages | 176 |
| Number of Table | 222 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Offering, Vertical, Deployment Mode, Enterprise Size, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the cybersecurity mesh market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed the largest revenue share in the cybersecurity mesh market in 2021. This is due to the region being one of the most advanced areas in terms of infrastructure and security technologies. In recent years, the digitization of the region has increased. There is an increase in the usage of technology such as digital payments, cloud-based apps, and the Internet of Things, which have increased complications and worries for businesses and made this region more susceptible to cyberattacks.
Free Valuable Insights: Global Cybersecurity Mesh Market size to reach USD 3.1 Billion by 2028
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; IBM Corporation, Check Point Software Technologies Ltd., Fortinet, Inc. are the forerunners in the Cybersecurity Mesh Market. Companies such as Palo Alto Networks, Inc., Forcepoint LLC (Francisco Partners) and Zscaler, Inc. are some of the key innovators in Cybersecurity Mesh Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Palo Alto Networks, Inc., Check Point Software Technologies Ltd., Zscaler, Inc., Fortinet, Inc., Forcepoint LLC (Francisco Partners), Cato Networks Ltd., GCA Technology and appNovi, Inc.
By Offering
By Vertical
By Deployment Mode
By Enterprise Size
By Geography
The global Cybersecurity Mesh Market size is expected to reach $3.1 billion by 2028.
Cyberspace expansion increases the demand for better security solution are driving the market in coming years, however, Shortage of skilled workers to employ and use cybersecurity mesh solution restraints the growth of the market.
IBM Corporation, Palo Alto Networks, Inc., Check Point Software Technologies Ltd., Zscaler, Inc., Fortinet, Inc., Forcepoint LLC (Francisco Partners), Cato Networks Ltd., GCA Technology and appNovi, Inc.
The IT & ITeS segment acquired maximum revenue share in the Global Cybersecurity Mesh Market by Vertical in 2021 thereby, achieving a market value of $1.2 billion by 2028.
The Large Enterprises segment is leading the Global Cybersecurity Mesh Market by Enterprise Size in 2021 thereby, achieving a market value of $2.4 billion by 2028.
The North America market dominated the Global Cybersecurity Mesh Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.3 billion by 2028.
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