Edge Security Market Booms: Sophisticated Cyber Threats Drive 21.5% CAGR by 2031| SkyQuest Technology

WESTFORD, Mass., July 10, 2024 /PRNewswire/ -- According to SkyQuest, the global Edge Security Market size was valued at USD 19.30 Billion in 2022 and is expected to grow from USD 23.45 Billion in 2023 to reach USD 111.36 Billion by 2031, at a CAGR of 21.5% during the forecast period (2024-2031).

The global edge security market is growing exponentially due to the proliferation of Internet-of-things (IoT) devices, increasing remote work, and advancements in technologies. Edge solutions can ensure reduced latency and improve CDN performance, allowing users to access content faster. However, the increasing adoption of digital technologies has resulted in organizations becoming more distributed, with endpoints in remote offices and elsewhere so concerns about managing a highly distributed environment can hinder the growth of the industry to some extent.

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Edge Security Market Overview:

Segments covered in Edge Security Market are as follows:

• Component
  • Solutions (SD-WAN, CASB, SASE, Other Solutions), Services (Managed Services, Professional Services, Implementation & Integration, Training & Consulting, Support & Maintenance)
• Deployment Mode
  • Cloud, On-premise
• Verticals
  • Government & Defense, BFSI, IT & Telecom, Healthcare, Retail, Manufacturing, Energy & Utilities, Other Verticals
• Organization Size
  • Large Enterprises, SMEs

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Building Blocks of Security: Components Powering the Edge

The largest segment in the global edge security market is the solution segment. This is due to the growing need for integrated solutions that can secure data, applications and networks across enterprise organizational systems. Over the past few years many organizations have embraced IoT and edge computing. The growing number of sophisticated and frequent cyber threats causes organizations to turn to reliable, innovative edge security systems so that they operate in an orderly and safe manner without interruption.

The fastest growing segment of the edge security market is the services segment which includes managed security services, professional services and cloud security. Services include managing security services, consulting, support and maintenance. They are critical for logistics as well as enabling sophisticated performance and security solutions. The rapid growth is driven by the need to communicate security information to solution providers, in return for access to professional services that might otherwise be unavailable to in-house IT teams.

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Securing the Edge: Innovations in Deployment Modes

The cloud segment stands out as the largest, driven by widespread adoption of cloud services across industries. With enterprises increasingly migrating their operations to the cloud to take advantage of scalability, flexibility and cost efficiencies, the demand for robust cloud-based security solutions has increased. This dominance will continue as organizations prioritize seamless integration of security systems with their cloud infrastructure to ensure real-time protection against evolving cyber threats.

The fastest growing segment of the edge security market is on-premises deployment mode. The rapid expansion is driven by sectors such as finance, healthcare, government, where data sensitivity, compliance with stringent regulations and requires the adoption of on-premises security solutions. Businesses in these sectors prefer to maintain control over their security infrastructure, ensuring data privacy.

Safeguarding the Edge: The Future of Edge Security

Edge Security leads cybersecurity techniques, addressing the need to defend networks and disburse gadgets at community edges. Proliferation of IoT gadgets, increasing adoption of part computing structure is using the edge security market. Edge devices are utilized in a whole lot of environments, from firms to clever cities, requiring scalable safety solutions and that they may be changed.

Related Report:

Cyber Security Market

Secure Access Service Edge (SASE) Market

Endpoint Security Market

Managed Security Services Market

Application Security Market

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SOURCE SkyQuest Technology