NEWARK, Del, Feb. 16, 2024 (GLOBE NEWSWIRE) -- The global edge security market is anticipated to reach a valuation of US$ 24.0 billion in 2024, driven by partnerships and collaborations. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 21.9% between 2024 and 2034, and reaching a total valuation of US$ 174.0 billion by 2034.
Organizations require centralized management and orchestration capabilities to ensure consistent security policies and enforcement across edge, cloud, and on premises environments. Edge to cloud security orchestration platforms enable unified visibility, control, and automation of security workflows across distributed infrastructure.
The adoption of Edge Security as a Service model enables organizations to leverage cloud based security offerings tailored to edge computing environments. SECaaS solutions provide scalable, subscription based security services, including threat detection, incident response, and compliance management, without the need for upfront infrastructure investment.
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Data privacy regulations and compliance requirements mandate robust security measures to protect sensitive data processed at the edge. Edge security solutions that incorporate data encryption, anonymization, and access controls help organizations achieve regulatory compliance while safeguarding data privacy.
Various industry verticals such as manufacturing, energy, retail, and telecommunications are increasingly adopting edge computing to enable real time data processing and decision making. Edge security solutions tailored to specific industry requirements, such as industrial IoT security, energy grid security, and retail edge security, are in high demand.
The proliferation of edge devices, including smartphones, tablets, IoT devices, and connected appliances, increases the complexity of securing the edge ecosystem. Edge security solutions that provide device identity management, authentication, and integrity verification help mitigate security risks associated with diverse and decentralized edge device fleets.
Key Takeaways from the Market Study
- Global edge security market was valued at US$ 19.2 billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 25.9%.
- The market in Japan is expected to expand at a CAGR of 23.1% through 2034.
- By component, the solution segment to account for a CAGR of 21.6% through 2034.
- The absolute dollar growth of the market is projected to reach a value of US$ 150.0 billion during the forecast period
- The market in the United Kingdom is expected to expand at a CAGR of 0% through 2034.
“Integration of threat intelligence feeds and security analytics platforms enables organizations to correlate and analyze security events across edge and cloud environments. These help proactively identify and mitigate security threats in real time, enhancing security posture and incident response capabilities,” opines Sudip Saha, managing director at Future Market Insights (FMI) analyst.
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Key Companies Profiled:
- Broadcom Inc.
- Cisco Systems, Inc.
- Palo Alto Networks Inc.
- Check Point Software Technologies Ltd.
- Fortinet Inc.
- Zscaler Inc.
- Cloudflare Inc.
- F5 Networks
- Citrix Systems Inc.
- Forcepoint LLC
Key Developments
- In 2022, Fortinet announced the release of FortiOS 7.2, a pivotal update to its operating system and the cornerstone of the Fortinet Security Fabric. Fortinet, with the introduction of over 300 new capabilities, enhances its ability to focus on security across every network edge while integrating the scalability and performance required to detect and mitigate threats across the entire infrastructure of an organization.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global edge security market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the edge security market, the market is segmented on the basis of component (solution, services), and deployment mode (cloud, on premise), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
Segmentation Analysis of the Edge Security Market
By Component:
- Solution
- Services
By Deployment Mode:
- Cloud
- On Premise
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
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Authored by:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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