Unified Threat Management Market - The Importance of Cyber Security In The Modern Digital Age

The global unified threat management market is fragmented in nature owing to the presence of many small regional vendors. The market also has multinational companies giving a tough challenge to their smaller counterparts. A noticeable trend in the market is players competing on the basis of technology, product quality, and price in order to steal a march over their competitors. However, deep-pocketed vendors are ultimately expected to steal a march over their competitors with their ability to produce superior products having better security features.

Some of the prominent names operating in the global market for unified threat management are WatchGuard Technologies Inc., Check Point Software Technologies Ltd., Juniper Networks Inc., Fortinet Inc., Cisco Systems Inc., IBM Corporation, Hillstone Networks Inc., Huawei Technologies Co. Ltd., SonicWALL Inc., and Comodo Group Inc.

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A research study by Transparency Market Research projects the global market for unified threat management to attain a value of US$5.8 bn by 2022-end from US$3.4 bn in 2016, by registering 11.1% CAGR from 2017 to 2022.

Component-wise, the global market for unified threat management can be split into software platforms and support services. Between them, the segment of software platforms is expected to be a leading contributor to the market in the next couple of years. Its share in the market is expected to become 84.9% by 2022.

Geographically, the prominent segments of the global market for unified threat management are North America, Europe, Japan, and Asia Pacific except Japan, and the Middle East and Africa. North America, among them, is a dominant market on account of the strong awareness about the role of cyber security in the modern digital age. The market in the region is predicted to rise at a solid 11.6% CAGR over the course of the forecast period from 2017 to 2022.

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Majorly fuelling demand in the market for unified threat management is the looming threat of cybercrime. This has made organizations – from big multinational conglomerates to small and medium sized ones, and government bodies to up spends on protecting their sensitive data. This is to ensure they grow or function smoothly without any setbacks. Explains the lead analyst of the TMR report, “Unified threat management addresses a wide variety of security concerns ranging from firewalls and intrusion alerts to spam, antimalware, and other kinds of content filtering services. The availability of different security tools under a single brand name and operating system will help stoke demand for unified threat management in the next couple of years.”

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations

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This release was published on openPR.