Overview and Scope
Unified Threat Management (UTM) refers to an information security system that provides multiple security features and services in a single device or software program. It prevents unauthorized access, blocks malicious activities, and enforces security policies.
Sizing and Forecast
The unified threat management market size has grown rapidly in recent years. It will grow from $6.49 billion in 2023 to $7.35 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to rise in cybersecurity threats, increased internet penetration, proliferation of mobile devices, growth of remote workforce, expansion of cloud computing.
The unified threat management market size is expected to see rapid growth in the next few years. It will grow to $11.95 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to increasing sophistication of malware, expansion of iot devices, shift to edge computing, integration with security orchestration, awareness of cybersecurity importance. Major trends in the forecast period include advancements in technology, product innovations, cloud security initiatives, web applications development.
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Segmentation & Regional Insights
The unified threat management market covered in this report is segmented –
1) By Component: Hardware, Software, Virtual
2) By Deployment: Cloud, On-Premise
3) By End Users: BFSI, Manufacturing, Healthcare, Retail , Government, IT And Telecom, Other End Users
North America was the largest region in the unified threat management market in 2023. The regions covered in the unified threat management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising incidences of cyber-attacks are expected to propel the growth of the unified threat management market going forward. Cyber-attack refers to any intentional effort to steal, expose, alter, disable, or destroy data, applications, or other assets through unauthorized access to a network, computer system, or digital device. UTM solutions are used to simplify network security management by offering a centralized platform for monitoring and mitigating diverse cyber threats, including malware, network attacks, and other security risks. In February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, in 2022, cybercrime reports received were 76,000, up from 13% from the previous year. Therefore, the rising incidences of cyberattacks are driving the growth of the unified threat management market.
Key Industry Players
Major companies operating in the unified threat management market report are Dell Inc, Huawei Technologies Co. Ltd., Hewlett-Packard Development Company L.P., The International Business Machines Corporation, Cisco Systems, Juniper Networks Inc., Fortinet Inc., Check Point Software Technologies Ltd., McAfee Corp, Trend Micro Incorporated, Sangfor Technologies, Trustwave Holdings Inc., SonicWall Inc., Bitdefender, Barracuda Networks Inc, WatchGuard Technologies Inc., Comodo Security Solutions Inc., Hillstone Networks Co, Stormshield SAS, Sophos Limited, DigiCert Inc., Clavister, Sequrix, Untangle, SecPoint, StormForce, Panda Security S.L.U.
The unified threat management market report table of contents includes:
1. Executive Summary
2. Unified Threat Management Market Report Structure
3. Unified Threat Management Market Trends And Strategies
4. Unified Threat Management Market – Macro Economic Scenario
5. Unified Threat Management Market Size And Growth
…..
27. Unified Threat Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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