The Global Security Appliances Market size is expected to reach $152.1 billion by 2028, rising at a market growth of 11.6% CAGR during the forecast period.
A security appliance is made up of a variety of practices, tools, and strategies that are closely related to information security and operational technology security. By employing both proactive and reactive strategies, this strategy can prevent networks and information from being attacked and compromised. In addition, security appliances combine web filtering, classic malware prevention, and advanced threat defenses to protect consumers from Internet-borne dangers while also assisting companies in ensuring Internet policy compliance.
The increasing frequency of security attacks and destructive actions by professional cybercriminal groups has caused concern among companies of all sizes. As a result of these situations, enterprises have found that outsourcing network security to security equipment service providers is a lucrative option. Furthermore, network security services can be provided by either setting up the appropriate security infrastructure or permitting the service provider to control everything from a remote location.
Increasing cybercrime activities, growing own-device implementation, rising demand for cloud-based solutions, and strict government laws together influence the complete protection appliances market share. Factors such as the need for improved security management have influenced both developed and emerging nations in their attempts to safeguard themselves from unidentified organizations such as cyber-attacks, rivalry, or other disruptive activities.
Network security encompasses both the security of systems and the systems that support operations. Each device, software product, and application used in the network must be inspected and updated to avoid infiltration via a third-party network. By merging third-party systems and apps, Application security is the process of defending against any potential vulnerabilities by combining third-party systems and apps.
The COVID-19 pandemic has wreaked havoc on enterprises all over the world. The lockdown imposed by many governments has had a beneficial effect on the adoption of security appliances. Organizations are focused on sophisticated technology in the aftermath of COVID-19. It had an impact on the supply chain, import, and export, as well as the market for security appliances. These were aided by new government rules. Furthermore, due to the industry's ambiguous behavior, the pandemic has resulted in numerous market variations.
Furthermore, to provide security, security appliances are used. The rising use of security-related goods such as electronic and cloud-based locking in commercial, residential, and industrial spaces is propelling growth in the security appliance market.
Large businesses encounter a variety of network and data security challenges. Cloud-based applications, mobile devices, and BYOD (bring your own device) laws, if not properly handled, might endanger crucial company data. Large enterprises can use security appliances like firewalls, UTM systems, and VPNs to protect themselves from modern attacks without disrupting business operations or productivity. In addition, many suppliers provide custom solutions for corporations by selling specialist products or services such IDP systems tailored exclusively for the demands of larger companies.
A firewall's primary responsibility is to monitor traffic coming through it. The information that flows over a system is in the form of data packets. Each of these packets is inspected by the firewall for any potential risks. If the firewall finds them by chance, it would start blocking them. Malware, particularly Trojans, are dangerous to consumers. A Trojan sits silently on computer, monitoring whatever consumer work. Whatever data they gather would be transferred to a web application. Obviously, users would not be aware of its presence until machine begins to behave strangely. In this case, a firewall would quickly stop Trojans from causing damage to machine. Firewalls have access control policies that may be used to restrict access to specific hosts and services.
By merging all security features into one appliance, the system admin can create everything from a single dashboard. It also poses the risk of a single point of failure, exposing the entire network if the UTM device fails. This can be avoided by establishing high availability configurations with redundancy, however this would raise installation and running costs. Components within a Unified threat management appliance may lack the precision and power of standalone appliances' settings and rules. When the UTM appliance maintains a large number of apps/clients with much functionality activated, performance may decrease. The efficiency hit may be less evident than with a dedicated appliance.
Based on Deployment Type, the market is segmented into On-premise and Cloud. The on-premise segment procured the highest revenue share in the security appliances market in 2021. This is due to several advantages provided by the on-premise deployment, including increased data security and safety. The on-premise deployment model allows the software to be installed and applications to run on equipment located on the organization's premises rather than at a remote location like a server or the cloud. This paradigm is best suited to applications that require substantial data transfers and processes, such as financial services and health records containing sensitive data.
Based on Industry, the market is segmented into BFSI, Energy & Utilities, Manufacturing, Telecom & IT, Aerospace & Defense, Healthcare & Life Sciences, Public Sector, Retail, and Others. The healthcare & life sciences segment recorded a significant revenue share in the security appliances market in 2021. It is because the security of healthcare systems can have a direct effect on the healthcare operational safety and productivity, as well as an indirect impact on services. In addition, the regularity and sophistication of cyber-attacks in the healthcare industry have increased. Moreover, the safety, security, and accuracy of data are critical for these firms, as they must comply with several legal obligations relating to documentation and intellectual property protection.
Based on Type, the market is segmented into Content Management, Firewall, Virtual Private Network, Intrusion Detection & Prevention, and Unified Threat Management. The content management segment garnered the largest revenue share in the security appliances market in 2021. Due to the rising threat to company networks and data has created a market for a variety of network and information security solutions. The expansion of this category has been spurred by the rise of content data between end-user industries and the increasing complexity associated with critical data. Operators of content management systems must integrate data across all corporate activities, necessitating the deployment of more powerful security to prevent unwanted access and data breaches.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 72.1 Billion |
| Market size forecast in 2028 | USD 152.1 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 11.6% from 2022 to 2028 |
| Number of Pages | 270 |
| Number of Tables | 423 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Deployment Type, Industry, 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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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The North America segment garnered the highest revenue share in the security appliances market in 2021. Widespread technological adoption, a huge number of industry players, and new solutions are involved. Furthermore, factors such as the move to remote work and the increased threat of external threats are increasing the use of intrusion detection systems in this region, providing lucrative development potential.
Free Valuable Insights: Global Security Appliances Market size to reach USD 152.1 Billion by 2028
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Intel Corporation are the forerunners in the Security Appliances Market. Companies such as Cisco Systems, Inc., Check Point Software Technologies Ltd., Fortinet, Inc. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., Check Point Software Technologies Ltd., Broadcom, Inc., Intel Corporation, Fortinet, Inc., Palo Alto Networks, Inc., Bosch Security Systems GmbH, Honeywell International, Inc., Trend Micro, Inc., and Juniper Networks, Inc.
By Deployment Type
By Industry
By Type
By Geography
The global security appliances market size is expected to reach $152.1 billion by 2028.
Advantages of the firewall as security appliances are increasing are driving the market in coming years, however, drawbacks of utilizing Unified threat management growth of the market.
Cisco Systems, Inc., Check Point Software Technologies Ltd., Broadcom, Inc., Intel Corporation, Fortinet, Inc., Palo Alto Networks, Inc., Bosch Security Systems GmbH, Honeywell International, Inc., Trend Micro, Inc., and Juniper Networks, Inc.
The expected CAGR of the security appliances market is 11.6% from 2022 to 2028.
The BFSI segment acquired maximum revenue share in the Global Security Appliances Market by Industry in 2021, thereby, achieving a market value of $30.6 billion by 2028.
The North America is the fastest growing region in the Global Security Appliances Market by Region in 2021, and would continue to be a dominant market till 2028.
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