Security Appliances Market | Asia Pacific Growing by Singapore, Japan, South Korea, Hong Kong

According to a new report published by Allied Market Research, titled, "Security Appliances Market Size, By Deployment (On premise, Cloud based), By Industry Vertical (Aerospace and Defense, Banking, Financial Services, and Insurance (BFSI), Public Sector, Retail, Healthcare, IT and Telecom, Energy and Utilities, Manufacturing, Others), By Type (Firewall, Unified threat management, Intrusion detection and prevention, Content management, Virtual private network): Global Opportunity Analysis and Industry Forecast, 2020-2030"

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.

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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.

The security appliances market trends in Asia-Pacific are expected to exhibit highest growth during the forecast period, owing to strong economic growth along with the ongoing development in security appliances and cyber security, which drives the organizations to invest heavily in security appliances market to sustain growth and improve productivity. In addition, factors such as major shift toward digital transformation, cloud deployment & technological advancement among small & medium businesses, and continuously ongoing modernization in work force management strategy in emerging economies notably contribute toward the market growth.

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Competitive Analysis:
The competitive environment of Security Appliances Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Security Appliances Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
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
Juniper Networks, Inc and Many More

Key players in Asia-Pacific are focusing on enhancing their operations and increasing their overall efficiency to stay competitive in the market, which is expected to provide lucrative opportunities for the growth of the market during the forecast period.

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The COVID-19 outbreak had a positive impact on the growth of the security appliances market as the new technologies are helping enterprises to address the extensive capacity demand of security appliances even after the restrictions imposed by the governments and remote working. The outbreak of COVID-19 has affected communities globally while governments and companies are trying their best to respond faster to the challenges posed by this pandemic. However, from the first quarter of 2020, the COVID-19 pandemic created an unbalanced health situation, with stringent restrictions to maintain social distancing and lockdown implemented across the world.

Thus, with a major aim to contain this pandemic, the majority of the economies have enforced a complete shutdown, thereby leading to decline in business operations. Sectors such as manufacturing and transportation have been severely impacted, worsening the business scenario and resulting in colossal monetary and employment losses. However, this pandemic has elevated the growth of the security appliances market and is expected to exhibit an increase during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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