Unified Threat Management Market Outlook
According to the report by Expert Market Research (EMR), the global unified threat management market share is projected to grow at a CAGR of 14% between 2023 and 2028. Aided by the escalating demand for all-inclusive security solutions and the growing number of cyber threats, the market is expected to grow significantly by 2028.
Unified threat management (UTM) is an information security term that refers to a single security solution, and its implementation involves various security functions within a single system. This approach simplifies information security management by providing a single management and reporting point. The features commonly provided by UTM include intrusion detection, antivirus, firewall, anti-spam, and Virtual Private Network (VPN).
The surge in cyber threats and data breaches is primarily driving the global unified threat management market growth. As businesses across the globe continue to digitalise their operations, they are becoming more susceptible to cyberattacks, leading to a heightened demand for robust security solutions. UTM systems, with their comprehensive approach to security, provide an effective solution for protecting against a wide array of cyber threats.
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In addition, the increasing preference for bundled security solutions is fuelling the unified threat management market expansion. With the complexity of cyber threats growing, standalone security solutions are no longer sufficient. UTM systems offer a convenient and efficient solution by integrating multiple security functions into a single platform, eliminating the need to manage several individual security solutions.
The expanding applications of UTM solutions across various industries also play a significant role in driving the market growth. In the healthcare industry, UTM solutions are used to protect sensitive patient data. Similarly, in the financial sector, these solutions are used to secure financial transactions and customer data. Moreover, with the rise of remote work, UTM solutions are gaining traction as an essential tool for securing remote networks.
Furthermore, the growing adoption of cloud-based UTM solutions is anticipated to provide a significant boost to the unified threat management market. Cloud-based UTM solutions offer numerous advantages, including scalability, cost-effectiveness, and easy deployment, which make them an appealing choice for businesses, particularly small and medium-sized enterprises (SMEs).
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Unified Threat Management Market Segmentation
The market can be divided based on component, service, deployment mode, company size, and region.
Market Breakup by Component
- Hardware
- Software
- Virtual
Market Breakup by Service
- Consulting
- Support and Maintenance
- Managed UTM
Market Breakup by Deployment Mode
- Cloud
- On-Premises
Market Breakup by Company Size
- Large Enterprise
- Small & Medium Enterprise
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global unified threat management companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Watchguard Technologies, Inc.
- Check Point Software Technologies Ltd.
- Juniper Networks, Inc.
- Fortinet, Inc.
- Huawei Technologies Co., Ltd.
- Untangle, Inc.
- Cisco Systems, Inc.
- Barracuda Networks, Inc.
- Others
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