According to a new report published by UnivDatos Markets Insights, the Unified Threat Management Market was valued at more than USD 400 million in 2020 and is expected to grow at a CAGR of around 13% from 2022-2028. The analysis has been segmented into Appliance (Hardware, Software, and Virtual); Services (Consulting, Support and maintenance, and Managed Services); Deployment (On-Premises and Cloud); End-User (BFSI, Government, Healthcare, Retail, Manufacturing Telecom and It, and Others) Region/Country.
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The unified threat management market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Unified Threat Management Market. The unified threat management market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the unified threat management market at the global and regional levels.
Market Overview
Unified Threat Management (UTM), is a Next Generation Firewall (NGFW), and a single security solution that provides multiple security capabilities from a single point on the platform or network. UTM applications include features such as network firewall, antivirus, antispam, antispyware, intrusion prevention and detection, leak prevention, and content filtering. Some units also provide services such as network address translation, remote routing and virtual private network support.
The unified threat management market is growing on account of increasing instances of data breaches across industries. For instance, according to comparitech, 45% of the U.S. companies have experienced data breaches. Furthermore, UTM solutions offer various benefits such as meeting regular compliance requirements and a reduction in technical training requirements. Moreover, the growing investments in the cybersecurity industry is also expected to influence the market significantly. For instance, according to embroker, global cumulative spending on cyber security products exceeded $1 trillion over the five years 2017-2021 worldwide.
Some of the major players operating in the market include Barracuda Networks Inc, Check Point Software Technologies Ltd, Cisco Systems Inc, Comodo Security Solutions Inc, SonicWall, Fortinet inc, Hillstone Networks, IBM Corporation, Intel Corporation, and Sophos Ltd.
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COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. Due to Covid, the Governments implemented lockdowns, resulting in the adoption of work-from-home by organizations. For data protection and systems safety unified threat management systems demand surged.
The global unified threat management market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· On the basis of service, the market is segmented into consulting, support and maintenance, and managed UTM. The support & maintenance segment is expected to grow with a significant CAGR during the forecast period. This is mainly due to the growing demand for experienced well-trained technicians and elevating need for third-party support and maintenance is expected to drive the market during the forecast period. Furthermore, the growing demand for consulting services for the protection of significant is also expected to propel the market during the forecast period.
· Based on deployment, the market is segmented into cloud and on-premises. The cloud segment is expected to grow significantly during the forecast period. This is mainly due to the growing advancements in cloud technology coupled with the growing trend of cloud deployment of web applications around the world. Furthermore, cloud deployment is cheaper and more secure.
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Unified Threat Management Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
The North American region is expected to lead the unified threat management market. The growing adoption in the region is mainly attributed to the growing cloud security in the region. Furthermore, the presence of key players in the region who invests heavily in the research and development of unified threat management services. Furthermore, the increasing number of SME’s in the North American region is expected to propel the market in the region.
The major players targeting the market include
· Barracuda Networks Inc
· Check Point Software Technologies Ltd
· Cisco Systems Inc
· Comodo Security Solutions Inc
· SonicWall
· Fortinet, Inc
· Hillstone Networks
· IBM Corporation
· Intel Corporation
· Sophos Ltd.
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Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Unified Threat Management Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the unified threat management market?
• Which factors are influencing the unified threat management market over the forecast period?
• What are the global challenges, threats, and risks in the unified threat management market?
• Which factors are propelling and restraining the unified threat management market?
• What are the demanding global regions of the unified threat management market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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