Global Security Service Edge Market Analysis Report 2023-22028: Cost Savings Drive SSE Adoption As Organizations Combine Security And Network Access

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Feb. 13, 2024 (GLOBE NEWSWIRE) -- The "Security Service Edge Market by Offering, Solutions (ZTNA, CASB, SWG, FWaaS), Services, Vertical (BFSI, Government, Retail & eCommerce, IT & ITeS), & Region (North America, Europe, Asia Pacific, Middle East & Arica, Latin America) - Global Forecast to 2028" report has been added to ResearchAndMarkets's offering.

The SSE market is estimated at USD 0.8 billion to USD 2.8 billion at a CAGR of 25.4% from 2023 to 2028

The market study covers the SSE market size across different segments. It aims at estimating the market size and the growth potential across different segments, including offerings, solutions, services, vertical, and region. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.

The rise in cybersecurity threats is a major driver of the SSE market. As organizations increasingly migrate their data and applications to the cloud, SSE solutions are crucial. They provide secure access, data protection, and threat detection for cloud-hosted resources, supporting a seamless and secure cloud transition.

It ensures that data hosted in the cloud remains protected against cyber threats, unauthorized access, and data breaches. With SSE, organizations can confidently embrace the cloud while ensuring that their assets are safeguarded and their compliance requirements are met, delivering both security and agility in a cloud-centric world.

The major 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)

By offering, solutions segment to contribute the largest market share in the security service edge market during the forecast period.

SSE solutions have emerged as a pivotal response to the evolving cybersecurity landscape, characterized by increasing cloud adoption and a dispersed workforce. These solutions combine network security and wide-area networking (WAN) capabilities with cloud-native security services to protect users, devices, and data at the edge of the network.

At their core, SSE solutions adhere to the Zero Trust model, continuously verifying and securing access. They encompass a range of services such as Secure Web Gateways (SWG), Cloud Access Security Brokers (CASB), and Firewall as a Service (FWaaS) to ensure secure web browsing, cloud application control, and network protection.

These solutions provide not only advanced threat detection and data loss prevention but also streamlined network performance with Software-Defined WAN (SD-WAN). With SSE, organizations can enforce robust security policies, safeguard sensitive data, and maintain compliance, all while optimizing the user experience, making it a cornerstone of modern cybersecurity strategy.

Manufacturing vertical is expected to register the second highest growth rate during the forecast period.

With the increasing adoption of digital technologies and the interconnectivity of manufacturing processes, safeguarding sensitive data, intellectual property, and industrial control systems is of paramount importance. Manufacturers rely on SSE to protect their supply chain operations, which involve intricate networks of suppliers and partners. SSE ensures that data exchange within these networks is secure, reducing the risk of data breaches and cyberattacks that could disrupt the supply chain, lead to data leaks, or compromise product quality.

Moreover, SSE facilitates secure collaboration and data sharing between multiple production facilities and partners. It allows real-time access to critical information, enabling manufacturers to make informed decisions, optimize production processes, and respond swiftly to changing market demands. This level of connectivity and data accessibility is instrumental in improving operational efficiency and reducing downtime.

Asia Pacific to register the highest growth rate during the forecast period.

The Asia Pacific countries are grappling with the increasing need for security spending as they face a growing threat landscape. The region encompasses dynamic economies like China, Japan, and India, where effective government regulations and technological advancements are paving the way for substantial growth in SSE.

With their large populations, these countries are undergoing a dramatic change with an increase in domestic demand for technological intervention and huge scope for advancements, as they are still growing economies. They have a huge advantage in terms of human resources that form a large subscriber base for any vertical that advances technologically. This is attributed to the fact that technology adoption has been rapid in this region and is growing exponentially.

The governments in Asia Pacific countries are taking steps toward data security. Countries such as India, Japan, and Singapore have updated and introduced new national cybersecurity policies. With the increase in complex cyberattacks and cyberwars between enterprises and hackers, there is a rise in the need for robust cybersecurity solutions, which the SSE framework would fulfill

The report provides insights on the following pointers:

  • Analysis of key drivers (Increasing adoption of remote work, Regulatory and data protection laws, Integration of a Cloud Access Security Broker (CASB), Zero Trust Access Driving Security Service Edge (SSE) 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) and challenges (Traffic Aggregation and User Experience, Reforming Security Policies, Shortage of professionals with specialized skills) influencing the growth of the SSE market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the SSE market.
  • Market Development: Comprehensive information about lucrative markets - the report analyses the SSE market across various regions.
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the SSE market.

Key Attributes:

Report Attribute Details
No. of Pages 235
Forecast Period 2023 - 2028
Estimated Market Value (USD) in 2023 $0.8 Billion
Forecasted Market Value (USD) by 2028 $2.8 Billion
Compound Annual Growth Rate 25.4%
Regions Covered Global

Company Profiles

  • Akamai
  • Aruba Networks
  • Banyan Security
  • Broadcom
  • Cato Networks
  • Cisco
  • Citrix
  • Cloudflare
  • Crowdstrike
  • Exium
  • Forcepoint
  • Fortinet
  • Iboss
  • Lookout
  • Menlo Security
  • Netskope
  • Nordlayer
  • Open Systems
  • Palo Alto Networks
  • Perimeter 81
  • Skyhigh Security
  • Trend Micro
  • Twingate
  • Versa Networks
  • Zscaler

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