Security Service Edge Market Growing at a Robust 27.4% CAGR: MarkNtel Advisors

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Security Service Edge Market, The Global Security Service Edge Market size is estimated to grow at a CAGR of around 27.4% during the forecast period, i.e., 2024–30. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Security Service Edge Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

• Forecast Period: 2024-2030
• CAGR (2024-2030): 27.4%

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Global Security Service Edge Market Segmentation Breakdown:

The Security Service Edge Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

• By Offerings
  • Solution- Market Size & Forecast 2019-2030, USD Million
    • Secure Web Gateways (SWG)- Market Size & Forecast 2019-2030, USD Million
    • Firewall-as-a-Service (FWaaS)- Market Size & Forecast 2019-2030, USD Million
    • Zero Trust Network Access (ZTNA) – Market Size & Forecast 2019-2030, USD Million
    • Cloud Access Security Broker (CASB) – Market Size & Forecast 2019-2030, USD Million
    • Others- Market Size & Forecast 2019-2030, USD Million
  • Service- Market Size & Forecast 2019-2030, USD Million
    • Professional Services- Market Size & Forecast 2019-2030, USD Million
    • Managed Services- Market Size & Forecast 2019-2030, USD Million
  • By Enterprise Size
    • Small & Medium Enterprises- Market Size & Forecast 2019-2030, USD Million
    • Large Enterprises- Market Size & Forecast 2019-2030, USD Million

Large enterprises have experienced substantial growth in the Global Security Services Edge Market during the past few years, with a major market share.

• By End User
  • BFSI- Market Size & Forecast 2019-2030, USD Million
  • Healthcare- Market Size & Forecast 2019-2030, USD Million
  • IT and Telecom- Market Size & Forecast 2019-2030, USD Million
  • Retail & E-Commerce- Market Size & Forecast 2019-2030, USD Million
  • Government- Market Size & Forecast 2019-2030, USD Million
  • Manufacturing- Market Size & Forecast 2019-2030, USD Million
  • Others- Market Size & Forecast 2019-2030, USD Million

Among these, the BFSI sector has held a considerable share in the Global Security Service Edge Market. The BFSI sector operates with sensitive financial and consumer personal information, such as account details, payment card data, and personally identifiable information (PII).

Geographical Growth Insights:

• By Region
  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

Among these, North America has been effectively leading the Security Service Edge (SSE) industry during the historical years.

MarkNtel Advisors Highlights Key Market Drivers for Security Service Edge Market:

The Rising Digital Transformation Initiatives Fueling the Demand for Security Service Edge – The big upward thrust in efforts for digital transformation has been improving the adoption of security software like SSE in recent years. Developing nations like India, Mexico, Brazil, Saudi Arabia, etc., have taken extensive measures for digital transformation in recent years. Digital transformation initiatives are intended to improve the client experience by providing seamless, customized interactions throughout more than one channel and touchpoint. In addition, the governments across these countries are also introducing numerous initiatives to enhance digital transformation across their nations. For instance,

• In 2024, the Saudi Arabian government launched the Digital Transformation Index for 2024, aimed at boosting e-government services and fostering digital innovation. This framework aims to heighten the public sector’s dedication to technological advancement and enhance the quality of e-government services.

Hence, with the escalating adoption of digital technologies in workflows, these organizations and their devices become more prone to cyberattacks. Hence, to provide high-level security to individual devices at the edge, several organizations have ramped up the adoption of security service edge solutions in recent years.

Furthermore, apart from government organizations, private companies across the globe are also contributing to the growth of digital transformation in their countries. Several small and medium enterprises, specifically across countries like the UAE, Saudi Arabia, India, etc., have been planning to adopt complete digital solutions in their workflows. Hence, as more companies adopt digital workflows, the demand for security solutions would also escalate to prevent cyberattacks. Hence, these efforts would augment the size & volume of the Global Security Service Edge (SSE) Industry in the coming years.

A Comprehensive Analysis of Leading Companies in Global Security Service Edge Market

• Cisco Systems Inc.
• VMWare Inc.
• Netskope
• Palo Alto Networks
• Versa Networks, Inc.
• Akamai Technologies Inc.
• Zscaler
• Cato Networks
• Broadcom
• Fortinet Inc.
• Check Point Software Technologies Ltd.
• Cloudflare Inc.
• Lookout
• Forcepoint
• Others

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Security Service Edge Industry Recent Developments

• 2024: VMware Inc., announced its plan for expanding its integration of Security Service Edge (SSE) orchestration to encompass Symantec Enterprise Cloud. This enhanced integration and future developments aim to lower barriers to SASE adoption by providing additional top-tier networking and security features.
• 2023: Netskope,a SASE leader, has fully implemented Localization Zones in its NewEdge security private cloud, offering a tailored experience across 220 countries and territories.

What are the growth Opportunity driving the Global Security Service Edge Market?

Integration of DLP Functionalities to Open New Doors for Market Players – Several market players are focusing on the integration of data loss prevention (DLP) solutions into their SSE workflows. This has been primarily done to improve the functionality of their software and increase its application across different end-user industries. Moreover, DLP solutions allow organizations to spontaneously detect and prevent instances of data breaches, data leaks, and data loss. Hence, major market players like Broadcom, Cloudflare, etc., are focusing on the integration of DLP functionalities in their SSE solutions. For instance,

• In 2023, Cloudflare announced its focus on broadening its DLP features, integrating APIs to accommodate more SaaS applications, and improving its zero-trust network access (ZTNA) to enable bidirectional connectivity.

Hence, as DLP-integrated solutions offer additional benefits of security in SSE software, they would be largely preferred among end users for data protection efforts. Also, as more companies come up with DLP functionalities in SSE solutions, their demand would escalate substantially in the coming years.

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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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