Why Invest in Secure Access Services Edge Market Size Reach USD 12.1 Billion globally by 2032 at 23.6% CAGR

Allied Market Research published a new report, titled, " Why Invest in Secure Access Services Edge Market Size Reach USD 12.1 Billion globally by 2032 at 23.6% CAGR." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The notable factors positively affecting the secure access services edge market include an increase in the integration of regulatory and data protection laws and a rise in demand for security services. Surge in adoption of cloud-based solutions offers lucrative opportunities for market players.

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The global secure access services edge market size was valued at USD 1.5 billion in 2022, and is projected to reach USD 12.1 billion by 2032, growing at a CAGR of 23.6% from 2023 to 2032.

The security access services edge market is segmented on the basis of offering, organization size, application, and region. By component, the market is segmented into network as a service and security as a service. On the basis of organization size, the market is segmented into large enterprises and SMEs. On the basis of application, the market is segmented into government, BFSI, retail and e-commerce, IT and ITeS, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, Latin America and MEA.

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Based on offering, the security as a service segment held the highest market share in 2022, accounting for more than two-thirds of the secure access services edge market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the growing need for a high level of personalization, one of the primary reasons enterprises are increasing their investment in the secure access services edge market.

Based on organization size, the large enterprises segment accounted for the largest share in 2022, contributing to more than three-fifths of the secure access services edge market revenue, owing to the growing demand for secure access services edge for cloud-based services in these enterprises. However, the SMEs segment is expected to witness the largest CAGR of 25.1% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. It provides various benefits to these organizations.

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By region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the secure access services edge market revenue. The increase in the usage of secure access services edge to improve businesses and the customer experience is anticipated to propel the growth of the market in this region. However, MEA is projected to witness the highest CAGR of 28.0% from 2023 to 2032. Countries such as Saudi Arabia, South Africa, and UAE are at the forefront, in embracing digital technologies to enhance their effectiveness and competitiveness, which is further expected to contribute to the growth of the market in this region.

The market players operating in the secure access services edge market are McAfee, Netskope, Palo, Alto Networks, Cato Networks, VMware, Check Point Software Technologies, Fortinet, Cisco Systems, Inc., Zscaler and Versa Networks. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the secure access services edge market globally.

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Key findings of the study

● By offering, the security as a service segment accounted for the largest secure access services edge market share in 2022.
● By organization size, the large enterprises segment accounted for the largest secure access services edge market share in 2022.
● By application, the BFSI segment accounted for the largest secure access services edge market share in 2022.
● Region wise, North America generated the highest revenue in 2022.

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