What’s Driving the Unified Threat Management Market Growth? | Top Key Players are WatchGuard, Sophos, Fortinet, Dell SonicWALL, Cisco, McAfee, Trend Micro, Juniper Networks, Huawei, IBM

Unified Threat Management Market in Asia Pacific has shown the highest growth rate as developing countries including India and China are focusing more on digital transformation. India is contributing more to this growth as the initiatives by the Indian government, such as Digital India, Financial Inclusion, and Startup India, are contributing to the growing demand for more IT network infrastructure for government institutions. With increasing connected devices, China is focusing more on secured and trustworthy networks, encouraging local & foreign security vendors to grow rapidly.

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North America has accounted for the largest market share in the unified threat management market due to the early realization of cybersecurity threats such as data breaches. In 2018, Facebook faced the biggest data breach with 50 million user accounts getting accessed by attackers, which raised questions on enterprise-level cybersecurity measures. Also, large-scale financial institutes such as banks are attracting more and more vendors to the North America region. Due to the increasing number of online financial transactions being performed in the region, especially in the U.S., the demand for more robust network security solutions in increasing consistently. The network security companies based in the U.S. are investing more on customized UTM, making it difficult for outside vendors to enter the market.

UTM has optimized many hardware & software components, which can simultaneously perform many functions including antivirus, virtual private networking, firewall, URL filtering, spam blocking, spyware protection, and intrusion detection & prevention. The agile security and changing networks need a more flexible threat management system. UTM is flexible enough to update security parameters at the time of every new threat. The single console handling all the network security functions will reduce the time required to resolve network security related issues in enterprises, leading to a faster response time. Centralized Integration gives more control over the network security and helps to easily monitor & provide attention to specific functions according to security needs. The single console provides detection in upcoming threats in the unified threat management market.

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Unified Threat Management Market is expected to grow at rapid pace in the coming years on account of technological advancements such as cloud computing, IoT, and SD-WAN. The enterprises are more prone to threats such as data security breaches, demanding a more secured information technology infrastructure. With technological advancements, enterprises will be seeking more secured SD-WAN & Wi-Fi networks, driving the unified threat managements market. The latest trends, such as virtualization and BYOD, are shifting businesses from traditional security solutions to more advanced threat management systems.

In the unified threat management market, this solution is a single system that can manage different security functions from one place so that, the cost for the overall network security infrastructure is relatively low as compared to the traditional network security systems. UTM results in reduced hardware as compared to traditional security systems, reducing the overall installation cost and time. The maintenance & operating costs of UTM are less, helping enterprises maintain the network security cost low. Many SMEs need robust security solutions at lower cost.

UTM service providers are emphasizing on integrating more customized solutions for virtual & cloud-based environments, where security parameters can be altered at the time of a new threat. With the increasing need for continuously developing network security & growing information technology industry, the companies need to develop more agile network security management systems. For instance, in August 2016, Sophos entered into the China network security market targeting the financial, manufacturing, and government sectors to provide a more responsive anti-virus solution to fight against the increasing internet threats. Some of the major players operating in unified threat management market are WatchGuard, Sophos, Fortinet, Dell SonicWALL, Cisco, Barracuda Networks, McAfee, Trend Micro, Juniper Networks, Huawei, IBM Corporation, Check Point, Avast, Hillstone, Intel, Comodo, Venustech, Stormshield, Untangle, Rohde & Schwarz, Aker, Zyxel, and Trustwave

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