Unified Threat Management (UTM) Market - Global Industry Analysis, Size 2019
The UTM market is segmented on the basis of organization size, its end users, its applications and services. Few different types of organization sizes include SOHO, SMBS and enterprises. UTM products are used in several industries such as BFSI, telecom and IT, education, manufacturing, retail, government and utilities, healthcare and others. Various application uses of UTM products include software, hardware, virtual and services such as support and maintenance.
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Increasing incidences of data security breach is one of the major factors contributing to the growth of unified threat management market. Additionally, UTM solutions enable end users to save space, cost and energy consumption thus further driving the growth of this market. However, lack of acceptance in enterprise market and degradation in network performance are the challenges that limit the growth of UTM solutions. Consolidation of various security tools into single network device is responsible for degradation in performance features. To overcome these challenge, vendors in this industry are continuously focusing on their product offerings in terms of quality.
Currently, UTM centralized consoles are being used in multiple branches of larger organizations that offers security for entire infrastructure. UTM centralized consoles eliminate the necessity to maintain each site or gateways separately thus reducing administrative costs and errors. Some of the features of UTM solutions include simplicity, ease of deployment, low complexity, ease in troubleshooting and better performance.
North America is the largest market for UTM solutions, as growth in this region is attributed to demand from payment card industry that requires both intrusion prevention technologies and firewalls. Moreover, the businesses with the higher credit card transaction volumes deploy UTM solution to protect against network based attacks.
Some of the key players for UTM market include IBM, WatchGuard Technologies, Dell Inc, Juniper Networks, Inc, Cisco Systems, Inc, Barracuda Networks, Inc, Checkpoint Software Technologies, Fortinet, Inc, Cyberoam Technologies, Hewlett-Packard Corporation and Sophos among others. In near future, this industry is expected to strong competition from the local vendors of diverse regions particularly in the managed UTM and cloud based services. Hence global vendors are continuously focusing on new product development to obtain an edge over others in the competitive environment.
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