The global Security appliances market was valued at $47,504 million in 2015, and is projected to reach $108,948 million by 2022, growing at a CAGR of 13.0% from 2016 to 2022.
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The security appliances market includes firewall, intrusion detection and prevention (IDP), content management, unified threat management (UTM), and virtual private network (VPN). Security appliances protect the safety of assets from cyber-crime and terrorism and other network service interruptions that affect daily operations in order to effectively protect sensitive data of organizations.
Network security can be accomplished through active monitoring, exposure of outages or malicious movement, and prompt response to disruptions.
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The task of information security is becoming more complex with the growth of businesses in terms of size, structure, and utilization of mobile devices, social media, cloud services, and big data. Rising number of security attacks and malicious practices by trained cybercriminal groups have been creating concerns for organizations across all industry sectors.
In addition, increased complexities in network infrastructure are causing a major hindrance in data security management. As a result of these circumstances, outsourcing network security to the security appliance service providers has emerged as a lucrative option for organizations.
Also, network security services can be delivered either by setting up necessary security infrastructure or by complete control of the service provider from a remote location.
The rising adoption of cloud based solutions, mobility, and bring-your-own-device (BYOD) trend has enabled endpoint protection to be a crucial part of all security departments. Security threats and vulnerabilities vary from day to day and even hour to hour.
In addition, maintaining security in a wireless environment is a challenge for most vendors in the ecosystem. Moreover, cyber threats affect more than just the information technology (IT) infrastructure of a company.
These threats cause disruptions to the entire network that can impact principal business functions. Organizations evaluate network security in terms of direct influence to the successful execution of an organization’s primary mission.
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The global security appliances market is segmented based on types, deployment modes, industry verticals, and geography. Based on type, the market is categorized into firewall, intrusion detection and prevention (IDP), content management, unified threat management (UTM), and virtual private network (VPN).
Industry vertical segments include banking, financial services & insurance (BFSI), public sector, energy & utilities, retail, IT & telecom, manufacturing, aerospace & defense, healthcare, and others. Deployment mode segment is sub-segmented into cloud-based and on-premise deployment.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Key market players operating in the market are Cisco Systems, Inc., Check Point Software Technologies Ltd., Symantec Corporation, Intel Corporation, Fortinet, Inc., Palo Alto Networks, Inc., Bosch Sicherheitssysteme GmbH, Honeywell International Inc., Johnson Controls International plc., and Juniper Networks, Inc.
- This report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global security appliances market.
- Porter’s Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the security appliances market to determine the investment pockets of the market.
- Current and future trends adopted by the key market players are highlighted to determine overall competitiveness of the market.
- The quantitative analysis of the security appliances market growth from 2014 to 2022 is provided to elaborate the market potential.
Security Appliances Market Key Segments:
- Unified threat management (UTM)
- Intrusion detection and prevention (IDP)
- Content management
- Virtual private network (VPN)
By Industry Vertical
- Aerospace and Defense
- Banking, Financial Services, and Insurance (BFSI)
- Public Sector
- IT and Telecom
- Energy and Utilities
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