Cyber Security Mesh Market to Surpass US$ 8.8 Billion by 2033, with a CAGR of 21.7% | Persistence Market Research

A Detailed Analysis of Cyber Security Mesh Market on the Basis of Software and Services

New York, June 13, 2023 (GLOBE NEWSWIRE) -- By 2033, the cyber security mesh market is expected to be worth US$ 8.8 billion. By 2023, its value is anticipated to be US$ 1.2 billion. From 2023 to 2033, the market is projected to expand at a CAGR of 21.7%.

Digital assets of companies need to be protected as traditional security measures are no longer adequate given the sophistication and frequency of cyberattacks. A more dynamic and adaptable approach to security is offered by cyber security mesh, which can successfully counter the changing threat landscape. Hence, it is anticipated to demonstrate increasing demand.

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Organizations are under pressure to implement strong security measures as global data protection and privacy standards become stricter. The framework provided by cyber security mesh can help firms establish and manage security measures that can aid in pushing demand by assisting them in complying with regulatory obligations.

Traditional security techniques can have trouble scaling and adapting to shifting business requirements. By separating security from physical or network barriers, cyber security mesh provides better scalability and flexibility. Companies' adoption would be fueled by their ability to adapt future technologies without compromising current security and scale their security infrastructure as necessary.

Instead of depending exclusively on network perimeter defenses, a cyber-security mesh focuses on delivering security that is customized to each user. Regardless of the user's location or the device they are using, organizations might protect data and systems utilizing this user-centric approach. It would also contribute to improving security and productivity, which would help to meet demand.

Demand for cyber security mesh has grown as consumers move toward a zero trust model, when trust is not automatically granted to any user or device within a network. Organizations can enforce granular access controls, continuously verify identities, and apply security measures at various locations inside the network by putting a mesh architecture in place. The market is expected to surge thanks to these characteristics of cyber security mesh.

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Key Takeaways from Cyber Security Mesh Market Report:

  • The global cyber security mesh industry recorded a CAGR of 25.7% in the historical period from 2018 to 2022.
  • The United States cyber security mesh industry is expected to be worth US$ 1.8 billion by 2033.
  • The United Kingdom cyber security mesh industry is expected to be worth US$ 345 million by 2033.
  • Based on offering, the cyber security mesh services segment showcased a CAGR of 25.5% from 2018 to 2022.
  • By vertical, the BFSI segment is likely to showcase a CAGR of 21.1% from 2023 to 2033.

“Due to increased complexity and security threats connected with distributed work environments, growing trend toward remote work is driving sales of cyber security mesh. Traditional perimeter-based security approach has grown less effective as employees can access company resources from multiple locations and via various devices. It is anticipated to create new opportunities.” – Says a lead analyst at Persistence Market Research (PMR).

Competitive Landscape

Competition in the cyber security mesh industry revolves around innovation and differentiation. Vendors would strive to develop unique features, advanced technologies, and comprehensive solutions. They would develop new products that can help them differentiate their offerings from competitors, attract customers, and gain a competitive edge.

The competitive landscape is characterized by collaborations and partnerships among vendors, technology providers, and key players. These collaborations aim to combine expertise, integrate solutions, and create comprehensive cyber security mesh offerings that can address diverse needs of organizations.

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Top key players are Cisco Systems, Inc., Palo Alto Networks, Inc., Fortinet, Inc., Check Point Software Technologies Ltd., Symantec Corporation, IBM Corporation, Microsoft Corporation, Trend Micro Incorporated, McAfee, LLC, FireEye, Inc.

Consulting firms and professional services providers are also entering the cyber security mesh space. They would offer advisory services, implementation support, and managed security services to help organizations design, deploy, and manage cyber security mesh architectures.

For instance,

  • Microsoft released Azure AD Verifiable Credentials in April 2021. It is a technology that gives businesses access to a cyber-security mesh ecosystem where they can safely manage and validate digital identities & credentials. This innovation improves identity-centric security protocols.

Get More Valuable Insights into Cyber Security Mesh Market
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the cyber security mesh market presenting historical data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study reveals segments present in the global cyber security mesh industry. The market is segmented in terms of offering (software and services), vertical (BFSI, healthcare, government & defense, IT & telecom, retail & e-commerce, manufacturing, energy & utilities, transportation & logistics), deployment type (cloud and on-premises), and region.

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About the Semiconductor and Electronics Division at Persistence Market Research (PMR)

Persistence Market Research's (PMR) highly experienced semiconductor and electronics team aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations. With a library of over a thousand research and 1 million+ data points, the team has spent over a decade analyzing the technology business across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help.

Rajendra Singh 
Persistence Market Research 
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