Unified Threat Management Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2219

The Business Research Company offers in-depth market insights through Unified Threat Management Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The unified threat management market size has grown rapidly in recent years. It will grow from $6.49 billion in 2023 to $7.35 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to rise in cybersecurity threats, increased internet penetration, proliferation of mobile devices, growth of remote workforce, expansion of cloud computing.

The unified threat management market size is expected to see rapid growth in the next few years. It will grow to $11.95 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to increasing sophistication of malware, expansion of iot devices, shift to edge computing, integration with security orchestration, awareness of cybersecurity importance. Major trends in the forecast period include advancements in technology, product innovations, cloud security initiatives, web applications development.

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Market Segmentation:
The unified threat management market covered in this report is segmented -

1) By Component: Hardware, Software, Virtual
2) By Deployment: Cloud, On-Premise
3) By End Users: BFSI, Manufacturing, Healthcare, Retail , Government, IT And Telecom, Other End Users

Major Driver - Unified Threat Management Solutions Rise to the Challenge Amid Escalating Cyberattacks Worldwide
The rising incidences of cyber-attacks are expected to propel the growth of the unified threat management market going forward. Cyber-attack refers to any intentional effort to steal, expose, alter, disable, or destroy data, applications, or other assets through unauthorized access to a network, computer system, or digital device. UTM solutions are used to simplify network security management by offering a centralized platform for monitoring and mitigating diverse cyber threats, including malware, network attacks, and other security risks. In February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, in 2022, cyber crime reports received were 76,000, up from 13% from the previous year. Therefore, the rising incidences of cyberattacks are driving the growth of the unified threat management market.

Competitive Landscape:
Major companies operating in the unified threat management market report are Dell Inc, Huawei Technologies Co. Ltd., Hewlett-Packard Development Company L.P., The International Business Machines Corporation, Cisco Systems, Juniper Networks Inc., Fortinet Inc., Check Point Software Technologies Ltd., McAfee Corp, Trend Micro Incorporated, Sangfor Technologies, Trustwave Holdings Inc., SonicWall Inc., Bitdefender, Barracuda Networks Inc, WatchGuard Technologies Inc., Comodo Security Solutions Inc., Hillstone Networks Co, Stormshield SAS, Sophos Limited, DigiCert Inc., Clavister, Sequrix, Untangle, SecPoint, StormForce, Panda Security S.L.U.

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Top Trend - Transformative Innovations in Unified Threat Management (UTM) by WatchGuard Technologies
Major companies operating in the unified threat management market are focusing on innovative solutions such as the WatchGuard cloud. WatchGuard Cloud refers to a comprehensive cloud-based platform that consolidates the management of network security, multi-factor authentication, and threat intelligence into an easy-to-learn and intuitive interface. WatchGuard Cloud is used for customized reporting, user information visibility, and the ability to turn raw network data into actionable insights. For instance, in October 2021, WatchGuard Technologies, a US-based leader in network security and intelligence, multi-factor authentication (MFA), advanced endpoint protection, and secure Wi-Fi, announced the release of its new Firebox M290, M390, M590, and M690 unified threat management (UTM) appliances. These firewalls are designed to be an affordable yet highly capable solution for small and midsize businesses, offering increased security and the fastest performance of any mid-range Firebox appliance ever, with the processing power for handling encrypted and HTTPS (Hypertext Transfer Protocol Secure) traffic. The new expandable ports and integration with WatchGuard Cloud enable these firewalls to provide the flexibility needed to accommodate changing networking and security needs for customers and service provider partners.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Unified Threat Management Market Characteristics
3. Unified Threat Management Market Trends And Strategies
4. Unified Threat Management Market - Macro Economic Scenario
5. Unified Threat Management Market Size And Growth
…..
27. Unified Threat Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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