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Unified Threat Management Market Trends

ID: MRFR//3506-HCR | 100 Pages | Author: Aarti Dhapte| July 2024

Unified Threat Management Market Overview

The Unified Threat Management Market size is projected to grow from USD 5.56 Billion in 2024 to USD 11.69 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.72% during the forecast period (2024 - 2032). Additionally, the market size for unified threat management was valued at USD 5.004 Billion in 2023.

The rise in the frequency of cyberattacks and the importance of preventing data theft via securing web applications are the key market drivers enhancing market growth.

Figure 1: Unified Threat Management Market Size, 2023-2032 (USD Billion)

Unified Threat Management Market Overview

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Unified Threat Management Market Trends

Growing need for data protection is driving the market growth

Market CAGR for unified threat management is driving the market because several companies are emphasizing networking and IT infrastructure right now, which instantly increases data production. The constant increase in data volume is causing breaches in company security. Increases in data breaches, network incursion, and threat attacks worldwide fuel demand for unified threat management solutions as IoT penetration continues to rise. In addition, the demand for unified threat management is expanding due to its low deployment cost and the increasing prevalence of connected devices. Demand for unified threat management is expected to rise due to the issues mentioned above in the future.

Additionally, identity and data theft are expected to rise at a rate that has never been seen before. It is expected to drive the demand for unified threat management systems that protect web applications. These options are also available for a low price and are easy to set up. The market is projected to grow as end users learn more about virtual private networks and as next-generation unified threat management solutions are created. For many, unified threat management represents a significant improvement over traditional firewalls because of the breadth of security measures it can implement. Therefore, the increasing prevalence of unified threat management is fueling the expansion of the international market.

For instance, IBM declares that it has bought Polar Security, a leader in technology that helps businesses find, continuously monitor, and secure cloud and software-as-a-service (SaaS) application data. It helps solve the growing shadow data problem. As a result, the demand for unified threat management is predicted to grow throughout the forecasted time due to the rising demand for data-secure technology. Thus, the driving factor is the unified threat management market revenue.

Unified Threat Management Market Segment Insights

Unified Threat Management Component Insights

The global unified threat management market segmentation, based on components, includes Hardware and Software. In 2022, the unified threat management market is led by the hardware category due to the rising interest in unified threat management products to mitigate cybercrime on a global scale. The UTM appliances equipped with ASIC chipsets enable simultaneous scanning for various threats.

Figure 2: Unified Threat Management Market by Component, 2022 & 2032 (USD Billion)

Unified Threat Management Market

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Unified Threat Management Deployment Insights

The global unified threat management market segmentation, based on deployment, includes On-Premise and On-Cloud. The on-cloud is anticipated to grow at a CAGR of 11.20% over the projected period, making up the largest market share because on-cloud deployment lets businesses change solutions and services on a large scale. It also helps set up a control center where the different parts of the UTM can be set up and coordinated.

Unified Threat Management Organization Size Insights

The global unified threat management market segmentation, based on the organization size, includes SMEs and large enterprises. The SMEs category is expected to grow fastest at a CAGR of 11.20% because the rise of advanced threats like cross-site scripting, SQL injection, and distributed denial-of-service attacks, which are aimed at small and medium businesses around the world, has led to a higher demand for next-generation Intrusion Prevention Systems, firewalls, and web security gateways. Threats like these make small and medium-sized businesses choose unified threat management systems.

Unified Threat Management Vertical Insights

The global Unified Threat Management market segmentation, based on the vertical, includes BFSI, Government, Utilities, and Retail. The BFSI category is expected to grow because hackers increasingly go after point-of-sale systems to access private information like card numbers.

Unified Threat Management Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American unified threat management market will dominate because there is a growing cloud security infrastructure in the country. In addition, there is a lot of understanding of the importance of cyber security really, and big businesses using cloud computing help the regional market grow.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: UNIFIED THREAT MANAGEMENT MARKET SHARE BY REGION 2022 (USD Billion)Unified Threat Management Market

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe’s unified threat management market accounts for the second-largest market due to a growing need for unified threat management solutions driven by the rising popularity of digital transactions. Further, the unified threat management market held the largest market share, and the UK unified threat management market was the fastest-growing market in the European region.

The Asia-Pacific unified threat management market is expected to grow at the fastest CAGR from 2023 to 2032 due to the increasing research and development efforts for the unified threat management sector and the rising number of small and medium-sized enterprises (SMEs) in the region is expected to increase the need for affordable unified threat management solutions. Moreover, China’s unified threat management market held the largest market share, and the Indian unified threat management market was the fastest-rising market in the Asia-Pacific region.

Unified Threat Management Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the unified threat management market grow even more. There are some strategies for action that market participants are implementing to increase their presence around the world's global footprint, with important market developments including new product launches, contractual agreements and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the unified threat management industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer use in the global unified threat management industry to benefit clients and increase the market sector. In recent years, the unified threat management industry has offered some of the most significant technological advancements. Major players in the unified threat management market, including Huawei Technologies Co. Ltd. (China), Cisco Systems Inc. (USA), International Business Machines Corporation (USA), The Hewlett Packard Company in the United States, and Sophos Group plc (U.K), and others, are attempting to grow market demand by investing in research and development operations.

Established in 1987, Huawei is a world-famous supplier of ICT infrastructure and intelligent gadgets. We have over three billion customers and over 207,000 staff supporting them in 170 countries and regions. For a connected and intelligent future, we are dedicated to making digital accessible to every individual, household, and institution. In March 2023, Huawei released a slew of cutting-edge storage products and solutions designed to assist global carriers in laying a solid storage foundation appropriate for the multi-cloud era. As carrier transition from traditional IT/CT services to new services like video, big data, and the cloud, they confront three main storage difficulties, as Dr. Peter Zhou, President of Huawei IT Product Line, mentioned during the Huawei product & solution launch event. Since 80% of newly created data is unstructured, it is increasingly playing a decisive role in manufacturing.

Cisco is the undisputed global leader in IT that safely links everything together to make anything doable. By assisting clients in reimagining apps, enabling hybrid work, securing the enterprise, transforming the infrastructure, and attaining sustainability goals, we hope to fuel a future accessible to all. In the United States or other countries, Cisco or its affiliates own the trademark rights to, use, and display the Cisco name and logo. Since our inception in 1984, we have focused on helping businesses with their toughest problems. Len Bosack and Sandy Lerner, both employees of Stanford University, wished to contact one other from their separate workplaces but could not do so due to technological limitations. Due to the need for a solution to the problem of supporting several LAN protocols, the multiprotocol router was developed. In June 2023, Cisco released a new Full-Stack Observability Platform, a vendor-neutral solution that takes advantage of the company's entire product line. To reduce corporate risk and improve customer satisfaction, it provides contextual, linked, and predictive insights.

Key Companies in the Unified Threat Management Market include

  • Huawei Technologies Co. Ltd. (China)

  • Cisco Systems Inc. (USA)

  • International Business Machines Corporation (USA)

  • The Hewlett Packard Company (USA)

  • Sophos Group plc (U.K)

Unified Threat Management Industry Developments

April 2024

Microsoft Corp. today released a public preview of its new unified security operations platform, which includes cloud-native security information and event management, enhanced detection and response, and generative artificial intelligence designed specifically for cybersecurity.

The platform, announced in November, unifies a variety of security features to provide a consistent, simplified analyst experience across the board. The integrated set of capabilities is intended to enable security professionals and security operations center teams to address the whole spectrum of cyber threats, from prevention and detection to a thorough response plan.

Microsoft contends that the present issues confronting SOCs need the development of a new unified platform. Microsoft believes that SOC teams struggle to address security risks due to an avalanche of notifications and the sometimes time-consuming effort of accessing diverse security products. The cybersecurity business also faces a large skills gap, with demand significantly outstripping supply.

Microsoft's platform intends to break down the hurdles and problems that SOCs face by offering a centralized view and management of security operations, optimizing processes, and increasing the productivity of security teams.

The new unified platform's key feature is "attack disruption," which uses AI and machine learning to automatically prevent sophisticated assaults in real time. According to the business, the functionality is crucial in an age when cyberthreats are not only getting more complex but also capable of executing at high rates. Microsoft says that by including quick detection and response technologies, the platform greatly decreases the time and resources necessary to address security events.

The platform also features Microsoft Copolit for Security, which allows security analysts to speed up malware triage by providing thorough event descriptions that map to the MITRE architecture. Copilot for Security may also help with reverse-engineering malware, translating complicated code into native language insights, and automating multistage attack remediation procedures with a single click.

Unified Threat Management Market Segmentation

Unified Threat Management Component Outlook

  • Hardware

  • Software

Unified Threat Management Deployment Outlook

  • On-Premise

  • On Cloud

Unified Threat Management Organization Size Outlook

  • SMEs

  • Large Enterprise

Unified Threat Management Vertical Outlook

  • BFSI

  • Government

  • Utilities

  • Retail

Unified Threat Management Regional Outlook

  • North America

  • US

  • Canada

  • Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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