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Security Appliances Market Size to Cross USD 229.74 Billion by 2030

03-17-2023 10:09 AM CET | IT, New Media & Software

Press release from: Allied Market Research

Security Appliances Market

Security Appliances Market

The security appliances market size was valued at $69.18 billion in 2020, and is estimated to reach $229.74 billion by 2030, growing at a CAGR of 12.81% from 2021 to 2030.

Advancements in industrial-grade digital technology, an increase in inclination toward cloud-based security appliances software, and a rise in need for improved supply chain and customer relationship management majorly contribute to the growth of the market. However, the lack of IT infrastructure in underdeveloped nations and the increase in security & privacy concerns hamper the growth of the security appliances market.

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On the basis of type, the content management segment dominated the overall security appliances industry in 2020 and is expected to continue this trend throughout the forecast period. Increased markets for cloud-based and cross-platform solutions have created opportunities for market expansion. In addition, integration with parallel products such as customer relationship management, analytics-driven content management, and cross-channel integration are some of the trends that have enhanced the adoption of content management among end-user industries.

However, the unified threat management (UTM) segment is expected to witness the highest growth, and this trend is expected to continue during the forecast period. UTM is a solution that allows organizations and IT personnel to monitor and manage a wide variety of security-related applications and components, making them available to users in a secure manner.

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Key trends in the security appliances market:

• Cloud-based security appliances: With the increasing adoption of cloud computing, organizations are looking for security solutions that can be easily integrated into their cloud environment. Cloud-based security appliances offer the advantage of being able to scale easily and being accessible from anywhere with an internet connection.

• Artificial intelligence and machine learning: Security appliances that use artificial intelligence and machine learning algorithms are becoming more popular as they can analyze vast amounts of data and detect anomalies that may indicate a security threat. These appliances can also learn from previous attacks and adapt to new threats.

• Integrated security appliances: Organizations are looking for security solutions that can be easily integrated into their existing IT infrastructure. Integrated security appliances offer the advantage of being able to manage multiple security functions from a single platform, making it easier to manage and monitor security.

• Mobile security appliances: With the increasing use of mobile devices in the workplace, organizations are looking for security solutions that can protect these devices from cyber threats. Mobile security appliances can help to secure mobile devices and ensure that they are compliant with corporate security policies.

• Data privacy compliance: With the increasing focus on data privacy and compliance regulations such as GDPR and CCPA, organizations are looking for security appliances that can help them to comply with these regulations. Security appliances that offer data encryption, access controls, and other compliance features are becoming more popular.

• IoT security appliances: As more devices become connected to the internet, organizations are looking for security solutions that can protect these devices from cyber threats. IoT security appliances can help to secure IoT devices and ensure that they are compliant with corporate security policies.

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This report gives security appliances market forecast and an in-depth profile of some key market players in the security appliances 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 study includes market trends, market analysis, and future estimations to determine the imminent investment pockets.

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