Unified Threat Management Market Segments: Trends, Size, and Competitor Assessment 2024-2033

"The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the Unified Threat Management Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

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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Key Market Players:

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.

Market Drivers:

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.

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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

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