Edge Security Market (2024-2031)
Edge Security Market is expected to reach $82.4 billion by 2031, at a CAGR of 19.7% from 2024 to 2031.
- Published
- Jan 2024
- Pages
- 207
- Format
- PDF + Excel
- Report ID
- MRICT - 1041052
- Base year
- 2023
- 2031 · FORECAST
- $82.40B
- 2031
- $82.40B
- CAGR 2024–2031
- 19.7%
2023 baseline · 2024–2031 forecast at 19.7% CAGR · hover a bar for the value
Key highlights
By Offering: In 2024, the Solutions Segment to Dominate the Edge Security Market
By Deployment Mode: In 2024, the Cloud-based Deployments Segment to Dominate the Edge Security Market
By Sector: In 2024, the IT & Telecommunications Segment to Dominate the Edge Security Market
Report summary
| Particulars | Details |
|---|---|
| Number of Pages | 207 |
| Format | |
| Forecast Period | 2024–2031 |
| Base Year | 2023 |
| CAGR (Value) | 19.7% |
| Market Size (Value) | USD 82.4 Million by 2031 |
| Segments Covered | By Offering · Solutions · Software-defined Wide Area Network Solutions · Secure Web Gateway Solutions · Firewall-as-a-Service Solutions · Cloud Access Security Broker Solutions · Zero Trust Network Access Solutions · Other Edge Security Solutions · Services · Professional Services · Integration Services · Training, Consulting, and Advisory Services · Support & Maintenance Services · Managed Services · By Deployment Mode · Cloud-based Deployment · On-premise Deployment · By Organization Size · Large Enterprises · Small & Medium-sized Enterprises · By Sector · IT & Telecommunications · BFSI · Retail & E-commerce · Healthcare · Government · Manufacturing · Energy & Utilities · Education · Other Sectors |
| Countries Covered | North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Singapore, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa |
| Key Companies | Cisco Systems, Inc. (U.S.), Broadcom Inc. (U.S.), Check Point Software Technologies Ltd. (Israel), Palo Alto Networks, Inc. (U.S.), Fortinet, Inc. (U.S.), Juniper Networks, Inc. (U.S.), Zscaler, Inc. (U.S.), Cloudflare, Inc. (U.S.), F5, Inc. (U.S.), Akamai Technologies, Inc. (U.S.), Barracuda Networks, Inc. (U.S.), Forcepoint LLC (U.S.), Versa Networks, Inc. (U.S.), Cato Networks Ltd. (Israel), and Skyhigh Security (U.S.) |
Report overview
Segments covered: offering, deployment mode, organization size, sector. Regions: North America, Europe, Asia-Pacific.
The growth of this market can be attributed to several factors, increasing adoption of secure access service edge (SASE) to reduce IT costs and complexities and rising security concerns and risk of cyberattacks. Moreover, the increasing use of 5G technology to enhance communications infrastructure and the rising adoption of cloud-based services among SMEs are expected to offer growth opportunities for the players operating in this market.
Report infographic
Market dynamics
4 factors across 3 forcesIncreasing Adoption of Secure Access Service Edge (SASE) to Reduce its Costs and Complexities Accelerating Market Growth
Secure Access Service Edge (SASE) is a network architecture that combines VPN and SD-WAN capabilities with cloud-native security functions such as secure web gateways, cloud access security brokers, firewalls, and zero-trust network access. With the digital transformation of businesses, security is moving to the cloud, which is driving the need for converged services to reduce complexity, improve speed and agility, enable multi-cloud networking, and secure the new SD-WAN-enabled architecture.
The adoption of Secure Access Service Edge (SASE) has been on the rise due to its potential to reduce IT costs and complexity. SASE combines network and security functions into a cloud-based service, providing a more streamlined and cost-effective approach to managing IT infrastructure. This approach reduces the need for on-premises hardware, simplifies network management, and enhances security, making it an attractive option for organizations looking to optimize their IT resources. Several businesses are implementing SASE solutions in their network to reduce complexity and improve visibility across IT networks. Market players are focused on collaborations for developing advanced solutions. For instance, in April 2023, Accenture plc (Ireland) collaborated with Palo Alto Networks, Inc. (U.S.) to deliver a joint Secure Access Service Edge (SASE) solution powered by Palo Alto Networks. The solution—AI-powered Prisma SASE enables organizations to improve their cyber resilience and accelerate business transformation efforts. This solution reduces complexity and improves visibility across IT networks. Such developments are also expected to support the growth of this market during the forecast period.
Rising Security Concerns and Risk of Cyberattacks Driving the Need for Edge Security Solutions
Growing digitalization and the rising use of advanced technologies such as IoT and cloud computing are increasing security concerns and the risk of cyberattacks across industries. In recent years, businesses have increased their reliance on SaaS platforms to support a variety of working environments across different geographic locations. With SaaS platforms, organizations can implement remote work, digital collaborations, or multiple field offices. However, cybersecurity is an ongoing concern for organizations, especially with the increasing frequency and sophistication of cyberattacks and organizations’ heavy reliance on software for business functions.
To overcome such risks, several organizations are implementing edge security solutions that protect the network perimeter and endpoints at the edge of a network. Edge security solutions protect organizations against cyber threats by fortifying the network perimeter and safeguarding the devices and data at the edge of the network. Thus, growing security concerns and the risk of cyberattacks are increasing the demand for edge security solutions across industries.
Table of contents
12 chapters · 110 sections · 207 pages · click to expandSegmental analysis
| Segment | Largest share (2024) | Fastest growth (2024–2031) |
|---|---|---|
| By Offering | Solutions | Services |
| By Deployment Mode | Cloud-based Deployments | — |
| By Sector | Segment’s large market share | Healthcare |
By Offering
- The Solutions Segment to Dominate the Edge Security Market
- The solutions segment is expected to account for the largest share of 50.3% of the global edge security market.
- The segment’s large share is attributed to the increasing adoption of edge security solutions to monitor network activity for suspicious behavior, prevent cyberattacks, and deliver applications to users with greater security and the growing need to secure data in transit and prevent unauthorized access.
- However, the services segment is expected to grow at the highest CAGR during the forecast period of 2024–2031.
- The growth of this segment is driven by the rising demand for comprehensive security across enterprise systems, the growing adoption of managed security services among small & medium-sized enterprises, and the increasing demand for security auditing, network security assessment, and firewall assessment services.
By Deployment Mode
- The cloud-based deployments segment is expected to account for the larger share of 64.4% of the global edge security market.
- Th segment’s large market share is attributed to the increasing adoption of cloud-based solutions among small & medium-sized enterprises and the growing utilization of edge security services to safeguard edge networks against cyberattacks.
- Also, this segment is expected to register a higher CAGR of during the forecast period of 2024–2031.
By Sector
- The IT & telecommunications segment is expected to account for the largest share of 26.7% of the global edge security market.
- The segment’s large market share is attributed to IT & telecom companies’ increasing need to protect networks, data, and devices at the edge, the growing utilization of 5G networks, and the rising need to reduce complexities and improve visibility across IT networks.
- However, the healthcare segment is expected to grow at the highest CAGR during the forecast period of 2024–2031.
- The growth of this segment is driven by healthcare organizations’ growing need to protect patient data, maintain regulatory compliance, and secure IoT devices and the increasing adoption of telehealth services.
Geographic analysis
North America
Largest shareIn 2024, North America is expected to account for the largest share of 33.3% of the global edge security market. North America edge security market is estimated to be worth USD 8.02 billion in 2024. North America’s large market share is attributed to the presence of prominent players offering advanced edge security solutions. Furthermore, the increasing investment in edge data centers, the growing adoption of edge security solutions to improve the security of data stored in the cloud, and the rising adoption of advanced technologies such as cloud computing, AI, and IoT are supporting the market growth. In 2024, North America Region to Dominate the Edge Security Market
Asia-Pacific
Fastest growthHowever, the Asia-Pacific region is expected to register the highest CAGR during the forecast period due to the surging demand for edge security solutions due to the increasing number of connected devices in the region, the growing need to deploy edge security solutions to ensure data, network, and device security, and government initiatives to ensure the highest level of edge security for the region’s industrial sector.
Competitive landscape
- August 2023
Check Point Software Technologies Ltd. (Israel) signed an agreement to acquire Perimeter 81 Ltd. (Israel), a Security Service Edge (SSE) company. With this acquisition, Check Point will help organizations accelerate the adoption of secure access across remote users, sites, cloud, data centers, and the internet to deliver the most secure and fastest SSE solution in the market.
- June 2023
Palo Alto Networks, Inc. (U.S.) partnered with Accenture plc (Ireland) to deliver joint secure access service edge (SASE) solutions that enable organizations to improve their cybersecurity posture and accelerate business transformation initiatives.
- June 2022
Juniper Networks, Inc. (U.S.) announced the expansion of its SASE offering with the addition of Cloud Access Security Broker (CASB) and advanced Data Loss Prevention (DLP) capabilities to its Juniper Secure Edge solution.
- Cisco Systems, Inc. (U.S.)
- Broadcom Inc. (U.S.)
- Check Point Software Technologies Ltd. · Israel
- Palo Alto Networks, Inc. (U.S.)
- Fortinet, Inc. (U.S.)
- Juniper Networks, Inc. (U.S.)
- Zscaler, Inc. (U.S.)
- Cloudflare, Inc. (U.S.)
- F5, Inc. (U.S.)
- Akamai Technologies, Inc. (U.S.)
- Barracuda Networks, Inc. (U.S.)
- Forcepoint LLC (U.S.)
- Versa Networks, Inc. (U.S.)
- Cato Networks Ltd. · Israel
- Skyhigh Security (U.S.)
Frequently asked questions
The edge security market study focuses on the market assessment and opportunity analysis through the sales of edge security across different region, and countries across different market segmentation, this study is also focused on competitive analysis for edge security based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies.
Cite this report
Meticulous Research. (2024). Edge Security Market - Global Opportunity Analysis and Industry Forecast (2024-2031) (Report No. MRICT - 1041052). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/edge-security-market-5735