PUBLISHER: The Business Research Company | PRODUCT CODE: 1464183
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464183
Security Service Edge (SSE) is a cloud-driven delivery approach for network security services, strategically crafted to reinforce protection, optimize performance, and facilitate secure access to the internet, cloud services, and private applications. SSE seamlessly combines crucial security functionalities, such as secure web gateways (SWG), zero-trust network access (ZTNA), cloud access security brokers (CASB), and firewall-as-a-service (FWaaS), with the objective of delivering all-encompassing security solutions through cloud infrastructure.
The primary categories of Security Service Edge (SSE) include cloud-based and web-based solutions. Cloud-based SSE pertains to a computing model wherein resources, services, and applications are hosted, managed, and accessed through the internet via cloud computing infrastructure. This model encompasses diverse components, including solutions and services, catering to end-users in sectors such as banking, financial services, and insurance, healthcare and life sciences, education, information technology and telecommunications, government, retail and e-commerce, manufacturing, and other industries.
The security service edge market research report is one of a series of new reports from The Business Research Company that provides security service edge market statistics, including security service edge industry global market size, regional shares, competitors with a security service edge market share, detailed security service edge market segments, market trends and opportunities, and any further data you may need to thrive in the security service edge industry. This security service edge market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The security service edge market size has grown exponentially in recent years. It will grow from $0.77 billion in 2023 to $0.98 billion in 2024 at a compound annual growth rate (CAGR) of 27.7%. The growth observed in the historical period can be attributed to factors such as digital transformation initiatives, trends in remote work, regulatory compliance requirements, the escalating sophistication of cyber threats, and the implementation of bring-your-own-device (BYOD) policies.
The security service edge market size is expected to see exponential growth in the next few years. It will grow to $2.38 billion in 2028 at a compound annual growth rate (CAGR) of 24.9%.
The anticipated growth in the forecast period can be attributed to the emergence of advanced threats, the widespread adoption of Internet of Things (IoT), integration with DevOps practices, the adoption of the zero-trust security model, and the shift towards Secure Access Service Edge (SASE). Key trends expected in the forecast period include the convergence of network security and wide area networking (WAN), a heightened adoption of zero-trust architectures, improved user and device visibility, integration of artificial intelligence (AI) and machine learning (ML), and the rise of cloud-native security services.
The escalation in cyber threats is anticipated to drive the expansion of the security service edge market. Cyber threats encompass malevolent activities exploiting vulnerabilities in computer systems, networks, and digital infrastructure. Factors contributing to this rise include the heightened frequency of prominent data breaches and the increased sophistication of hackers. The security service edge offers a comprehensive cybersecurity solution, encompassing the securing of network connections, enforcement of access controls, protection of cloud resources, safeguarding endpoints, securing data, and enhancing threat detection and response capabilities. Notably, the Australian Cyber Security Centre reported a 13% increase in cybercrime reports, reaching 76,000 in February 2023 compared to the previous year, underscoring the urgency for advanced cybersecurity measures.
Leading firms in the security service edge market are prioritizing innovative security solutions, notably consulting security edge services, to cater to the evolving cybersecurity landscape and meet the growing demand for robust security measures. This service category involves a modular and unified approach to consulting and implementing security service edge solutions. In January 2024, Kyndryl Holdings, Inc., in collaboration with Cisco Systems Inc., introduced Kyndryl Consult Security Services Edge and Kyndryl Managed SSE, aimed at enhancing cybersecurity and proactively addressing cyber incidents. These services reinforce security controls, aid in the transition to a secure access service edge (SASE), establish a zero-trust network, and facilitate hybrid work scenarios.
In October 2021, Forcepoint, a prominent US-based software company, completed the acquisition of Bitglass Inc. for an undisclosed amount. This strategic move seeks to broaden cloud security capabilities, products, and technical expertise to comprehensively address the growing cloud security needs of the enterprise market. Bitglass Inc., a US-based developer of a total cloud security platform providing edge security services, brings valuable assets to enhance Forcepoint's position in the competitive cybersecurity landscape.
Major companies operating in the security service edge market report are Microsoft Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Broadcom Inc., VMware Inc., Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Akamai Technologies Inc., Citrix Systems Inc., Check Point Software Technologies Ltd., Proofpoint Inc., Zscaler Inc., Cloudflare Inc., Cyxtera Technologies Inc., Forcepoint LLC, SonicWall Inc., Barracuda Networks Inc., Open Systems AG, Cato Networks Inc., Appgate Inc., Versa Networks Inc., Netskope Inc., Wandera Limited, Menlo Security Inc.
North America was the largest region in the security service edge market in 2023. The regions covered in the security service edge market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the security service edge market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The security service edge market consists of revenues earned by entities by providing services such as secure Web gateways, zero-trust network access, cloud access security brokers, threat intelligence, and user-centric security measures. The market value includes the value of related goods sold by the service provider or included within the service offering. The security service edge (SSE) market also includes sales of edge devices and endpoints, cloud infrastructure, security analytics tools, and monitoring tools. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Security Service Edge Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on security service edge market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for security service edge ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The security service edge market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.