San Francisco, 21 Aug 2019 - The global unified threat management market size is expected to reach USD 10.09 billion by 2025 at a CAGR of 14.5% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Unified threat management (UTM) solutions eliminate the need for enhanced technical support and require fewer updates and contracts to manage network. This helps the end users to increase IT staff productivity and minimize operational costs. Latest trends, such as Bring-Your-Own-Device (BYOD), web applications, and virtualization, have compelled enterprises to prepare for emerging security risks in their networks, in addition to the growing concerns of internal and external threats. Growing number of such threats is impelling enterprises to adopt UTM solutions.
Moreover, these solutions are cost-effective and also have the ability to perform application-aware network tracking, scanning, and control. In addition, the solutions are easy to install & maintain and require lesser human intervention, which leads to further reduction in operational costs. All these factors are expected to drive the UTM market over the forecast period. Moreover, these solutions have multiple functionalities that allow consumers to reduce energy consumption and space. These benefits are further expected to contribute to the market growth. The key companies in the UTM market are focusing on developing advanced solutions that are aligned with the requirements of end users.
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Further key findings from the study suggest:
- Virtual component segment is anticipated to register the highest CAGR of 15.2% from 2019 to 2025 due to increasing number of SMEs requiring virtual infrastructure to securely run a wide range of applications
- Managed UTM segment is anticipated to register significant growth over the forecast period as these solutions eliminate the need to buy multiple appliances for enterprises and offer complete network protection
- The cloud segment is projected to expand at the highest CAGR during the estimated period. It is the most preferred deployment method of UTM solutions as it allows users to remotely manage the appliance
- Large enterprise is projected to be the fastest-growing segment from 2019 to 2025 due to increasing adoption of UTM solutions, which are cost-effective and easy to install & maintain in large enterprises
- BFSI segment is expected to register a significant growth in future. High demand for remotely managing security system, owing to increasing number of online hacks and cyberattacks in banks, is expected to drive the segment
- North America is expected to continue to dominate the global UTM market over the forecast period owing to the presence of major companies in the region
- Prominent industry participants include Barracuda Networks, Inc.; Cisco Systems, Inc.; Check Point Software Technologies Ltd.; SonicWall; Fortinet, Inc.; Huawei Technologies Co., Ltd.; Untangle, Inc.; Juniper Networks, Inc.; Sophos Ltd.; and WatchGuard Technologies, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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