Global Edge Security Market Report and Forecast 2024-2032

Global Edge Security Market Outlook

The global edge security market size reached a value of approximately USD 23.04 billion in 2023. The market is further projected to grow at a CAGR of 21% between 2024 and 2032, reaching a value of USD 128.10 billion by 2032.

Key Trends in the Market

Edge security refers to the type of enterprise security infrastructure that is decentralised and provides security to the network on the edge where the end users are both storing and creating data in a larger network. It reduces bandwidth usage, response time, and latency allowing the analysis and processing of data in near real-time.

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• The growing demand for low latency computing from various regions across the globe for improving performance and facilitation of real time decision making is one of the key edge security market trends.

• The increasing requirement for quicker processing time due to rising volumes of data being generated by organisations of various sizes is further propelling the utilisation of edge security. Furthermore, rising adoption of cloud computing by businesses has boosted the demand for edge security integration.

• Rising security concerns and threats of cyberattacks have increased the adoption of edge security as they provide security to computing processes at the farthest reach of the organisation’s network. Such areas pose significant level of threats as they are not within the parameter of the organisation.

Market Analysis

On the basis of component, the market is divided into solution, edge security, SD-WAN, and secure access service edge, among others. Based on type, the edge security market segmentation includes cloud and on-premises. On the basis of organisation size, the market is segregated into small and medium size enterprises and large size enterprises. Based on vertical, the market is classified into BFSI, government and defence, retail and e-commerce, energy and utilities, manufacturing, and IT and telecom, among others. Based on region, the market is categorised into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global edge security market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Cisco Systems, Inc.

• Amazon Web Services, Inc.

• Check Point Software Technologies Ltd.

• Fortinet, Inc.

• Zscaler Softech India Private Limited

• Cloudflare, Inc.

• F5 Networks, Inc.

• Citrix Systems, Inc.

• Forcepoint LLC

• Palo Alto Networks, Inc.

• Other

Market Share by Vertical

The BFSI vertical is expected to witness significant growth over the forecast period due to increasing adoption of edge security by banking institutions for providing customers with a secure experience and a wide range of services at an economical cost. Edge security also addresses the bandwidth problem and optimises the WAN. Additionally, rising threats of cyberattacks and increasing efforts to protect the sensitive customer data are further boosting the edge security market growth.

Market Share by Region

The market for edge security is anticipated to witness significant growth in North America in the coming years. This growth can be attributed to the high adoption of edge computing technologies, strong presence of various major players, and increasing investments in cybersecurity in countries such as Canada and the United States. Furthermore, increasing adopting of cloud computing is further boosting the demand for edge security in the region.

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Competitive Landscape

Cisco Systems, Inc. is a software development company that was established in 1984 and is based in California, United States. The company specialises in unified computing systems, virtualisation, and unified communication, among others.

Amazon Web Services, Inc. was founded in 2006 and is headquartered in Washington, United States. The company is known for providing highly scalable, reliable, and low-cost infrastructure platform in the cloud powering all types of businesses.

Palo Alto Networks, Inc.  is a computer and network security company that was established in 2005 and is based in California, United States. They help in addressing security challenges with continuous innovations and are at the forefront of protecting various organisations across the globe.

Other players in the edge security market include Check Point Software Technologies Ltd., Fortinet, Inc., Zscaler Softech India Private Limited, Cloudflare, Inc., F5 Networks, Inc., Citrix Systems, Inc., and Forcepoint LLC, among others.

Key Highlights of the Report