Chicago, Dec. 01, 2023 (GLOBE NEWSWIRE) -- The global Security Service Edge Market size is projected to grow from USD 0.8 billion in 2023 to USD 2.8 billion by 2028 at a CAGR of 25.4% during the forecast period, according to a new report by MarketsandMarkets™. The evolving cybersecurity landscape and the dynamic digital transformation of organizations are driving the adoption of the SSE market. As businesses increasingly rely on cloud services, remote work, and distributed networks, the need for securing data and network access at the edge has become paramount.
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Security Service Edge Market Dynamics:
Drivers:
- Increasing adoption of remote work.
- Rising need for unified network security architecture.
- Integration of Cloud Access Security Broker into organization & security framework.
- Zero trust access driving security service edge adoption
Restraints:
- Integration complexity.
- Achieving and sustaining compliance with stringent security standards.
Opportunities:
- Cloud-native advancements.
- Cost savings by combining multiple security and network access.
List of Key Players in Security Service Edge Market:
- Netskope (US)
- ZScaler (US)
- Palo Alto Networks (US)
- Cisco (US)
- Broadcom (US)
- Forcepoint (US)
- Lookout (US)
- iBoss (US)
- Skyhigh Security (US)
- Cloudflare (US)
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Moreover, stringent data privacy regulations necessitate enhanced protection of sensitive information. SSE aligns with the Zero Trust security model, providing continuous verification and access control, making it a fitting response to these challenges. As digital infrastructure evolves, the SSE market experiences rapid innovation and expansion, offering solutions that not only bolster security but also enable agile, efficient, and reliable operations in the ever-changing digital landscape.
By offering service segment to hold the largest market size during the forecast period.
The SSE services represent offerings focused on enhancing cybersecurity and network security by safeguarding the ever-expanding digital landscape. These services encompass an array of solutions, including Managed Security Services, which provide expert oversight, monitoring, and incident response, effectively outsourcing security operations. Implementation and Integration Services ensure the seamless deployment of SSE solutions into existing infrastructures, creating a secure and efficient environment. Support and Maintenance Services are crucial for ongoing reliability and upkeep, encompassing issue resolution and updates to keep SSE environments robust and current. These services collectively enable organizations to secure their network access, data, and applications, regardless of user location or device. With the proliferation of remote workforces and the growing reliance on cloud-based operations, SSE services are essential for safeguarding data, applications, and network access, offering a comprehensive and adaptable approach to cybersecurity in the evolving digital landscape.
Based on region, North America holds the largest market size during the forecast period.
North America is poised to be a major player in the global SSE market, with the United States and Canada driving its substantial market size. Technology is getting more advanced with each passing day, and the growing economies of the US and Canada enable them to invest in these new technologies in huge amounts. Public and private organizations in the region are focused on cloud security solutions, such as SD-WAN, ZTNA, SWG, and CASB. The region has several large enterprises and rapidly growing SMEs where protecting the consumers’ identities is the prime objective. Enterprises in this area have started implementing various technologies, such as AI, ML, blockchain, big data, and cloud, for securing data. This will likely boost the region's market for SSE solutions during the forecast period.
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Key players in the SSE market are Netskope (US), ZScaler (US), Palo Alto Networks (US), Cisco (US), Broadcom (US), Forcepoint (US), Lookout (US), iBoss (US), Skyhigh Security (US), Cloudflare (US), Trend Micro (Japan), Akamai (US), Fortinet (US), Aruba Networks (US), Citrix (US), Cato Networks (Israel), Perimeter81 (Israel), Open Systems (Switzerland), Menlo Security (US). These players not only have a comprehensive and diverse product portfolio but also have a strong geographic presence. These players can focus on developing innovative SSE market technologies and offerings owing to the emergence of new application areas for SSE markets.
These companies offer several product offerings and have operations worldwide. They rely on their R&D capabilities and diversified product and service portfolios to increase their market share. These companies focus on product launches, collaborations, acquisitions, contracts, and partnerships to strengthen their footprint through product innovations and extend their business reach.
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