The Unified Threat Management Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033)
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According to The Business Research Company’s Unified Threat Management Global Market Report 2024, 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.
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, cyber crime 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.
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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
Major companies operating in the unified threat management market are focusing on innovative solutions such as the WatchGuard cloud. WatchGuard Cloud refers to a comprehensive cloud-based platform that consolidates the management of network security, multi-factor authentication, and threat intelligence into an easy-to-learn and intuitive interface. WatchGuard Cloud is used for customized reporting, user information visibility, and the ability to turn raw network data into actionable insights. For instance, in October 2021, WatchGuard Technologies, a US-based leader in network security and intelligence, multi-factor authentication (MFA), advanced endpoint protection, and secure Wi-Fi, announced the release of its new Firebox M290, M390, M590, and M690 unified threat management (UTM) appliances. These firewalls are designed to be an affordable yet highly capable solution for small and midsize businesses, offering increased security and the fastest performance of any mid-range Firebox appliance ever, with the processing power for handling encrypted and HTTPS (Hypertext Transfer Protocol Secure) traffic. The new expandable ports and integration with WatchGuard Cloud enable these firewalls to provide the flexibility needed to accommodate changing networking and security needs for customers and service provider partners. The unified threat management market report table of contents includes
1. Executive Summar
2. Unified Threat Management Market Characteristics
3. Unified Threat Management Market Trends And Strategies
4. Unified Threat Management Market – Macro Economic Scenario
5. Global Unified Threat Management Market Size and Growth
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26. South America Unified Threat Management Market
27. Brazil Unified Threat Management Market
28. Middle East Unified Threat Management Market
29. Africa Unified Threat Management Market
30. Unified Threat Management Market Competitive Landscape And Company Profiles
Top Major Players:
- Dell Inc
- Huawei Technologies Co. Ltd
- Hewlett-Packard Development Company L.P
- The International Business Machines Corporation
- Cisco Systems
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