Cybersecurity Mesh Global Market Report 2024

The cybersecurity mesh market has grown rapidly in recent years. It will grow from $68.18 billion in 2023 to $78.58 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The expansion observed in the historical period can be attributed to several factors, including heightened cyber threats, the imperative of regulatory compliance, challenges stemming from the cybersecurity skills gap, difficulties in incident response, and the ongoing process of digital transformation.

The cybersecurity mesh market is expected to see rapid growth in the next few years. It will grow to $139.25 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The anticipated growth in the forecast period is linked to various factors, including efforts to mitigate the threat of ransomware, the increasing demand for security in edge computing, regulatory focus on enhancing cybersecurity measures, security requirements for hybrid workforces, the adoption of continuous authentication, and preparedness for the impact of quantum computing. Noteworthy trends expected in the forecast period encompass the adoption of zero trust security models, the prominence of cloud-native security solutions, the emphasis on API security, integration of threat intelligence, the growing role of automation and orchestration, and the application of behavioral analytics.

The escalating frequency of cyberattacks is anticipated to propel the expansion of the cybersecurity mesh market. Characterized as any attempt to gain unauthorized access to a computer system or network with malicious intent, cyber-attacks pose significant risks to enterprise-level organizations. Cybersecurity mesh emerges as a practical and adaptable strategy to address these risks, extending security coverage across the architecture. This approach empowers users to protect all systems and access points through a unified set of technologies. Notably, in March 2023, the Federal Bureau of Investigation received 800,944 reports of cybercrime, emphasizing the urgency for robust cybersecurity measures. The potential damages from cyber-attacks in 2022 reached $10.2 billion, marking a notable increase from $6.9 billion in 2021. Furthermore, the cybersecurity threatscape report by Positive Technologies in July 2021 revealed a 17% increase in cyberattacks in Q1 2021 compared to Q1 2020, with an additional 1.2% rise compared to Q4 2020. Consequently, the rising incidents of cyberattacks are a significant driver for the cybersecurity mesh market's growth.

The widespread adoption of remote working is a key factor contributing to the burgeoning growth of the cybersecurity mesh market. Remote working, allowing employees to work from locations outside the traditional office, has expanded the attack surfaces of organizations. In response, cybersecurity mesh emerges as an indispensable, flexible, and adaptive security framework, safeguarding users and devices regardless of their physical location. A study published by AT&T in February 2022 underscores this trend, projecting a notable increase in the adoption of a hybrid work model. The percentage of companies embracing a hybrid approach, where employees engage in both remote work and office-based work, is expected to surge from 42% in 2021 to an anticipated 81% by 2024. Consequently, the continued adoption of remote working practices is poised to be a significant driver for the cybersecurity mesh market.

Technological innovations have emerged as a pivotal trend in the cybersecurity mesh sector, with companies increasingly leveraging automation to bolster their market standing. This automation, instrumental in expedited threat detection and response, curtails the susceptibility to cyber breaches. A case in point is BeyondTrust, a US identity management firm, which in June 2022, introduced enhanced versions of Password Safe and BeyondInsight. While Password Safe offers a robust solution for secure password management and automated rotation, BeyondInsight focuses on streamlining vulnerability scanning and analysis. Through such initiatives, BeyondTrust is equipping enterprises to proactively address cyber risks.

Leading entities in the cybersecurity mesh arena are intensifying their focus on pioneering solutions, such as advanced detection and response systems, to remain at the forefront of the competitive landscape. Such systems, tailored to pinpoint and counter cybersecurity threats within an organizational framework, are gaining prominence. Eviden, a France-based tech firm, exemplified this with the launch of AIsaac Cyber Mesh in June 2023. This state-of-the-art system, fortified by Amazon Web Services' Security Data Lake and underpinned by generative AI, offers a holistic approach to detection, response, and recovery. By synergizing with AWS, AIsaac Cyber Mesh not only refines incident comprehension but also amplifies alert precision, bolstering cyber resilience for businesses.

In March 2021, the US-based cloud computing and virtualization technology company, VMware, completed the acquisition of Mesh7 for an undisclosed sum. This strategic move aimed to enhance VMware's capabilities in API security, visibility, and discovery through the integration of Mesh7 technology. Mesh7, also based in the United States, specializes in runtime cloud application security and operates within the cybersecurity mesh domain. This acquisition underscores VMware's commitment to fortifying its position in the evolving landscape of cloud computing and cybersecurity.

Major companies operating in the cybersecurity mesh market report are Trend Micro Inc., Oracle Corporation, Fortinet Inc., Microsoft Corporation, Exium, Stefanini Group, International Business Machines Corporation, Smartz Solutions, E-Spin Nanotech Pvt. Ltd., Forcepoint, GCA Technology Services, SonicWall, Naoris Protocol, Palo Alto Networks, Zscaler, Ivanti, Cato Networks, Aryaka Networks Inc., SailPoint Technologies Inc., AppgateInc., Mesh Security, Primeter 81, Check Point Software Technologies Ltd., Cisco Systems Inc., McAfee Corp., Trellix, Bocasay, Abcam plc, Bio-Rad Laboratories Inc.

North America was the largest region in the Cybersecurity Mesh market in 2023. The regions covered in the cybersecurity mesh market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cybersecurity mesh market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

In the realm of cybersecurity mesh, the primary offerings encompass solutions and services. Solutions play a pivotal role in the business landscape as they assist organizations in efficiently addressing specific challenges and achieving their objectives. Specifically tailored for organizational needs, cybersecurity mesh solutions aim to provide entities with more adaptable, distributed, and flexible cybersecurity architectures. This empowers organizations to enhance the protection of their digital assets and respond effectively to emerging cybersecurity threats. The deployment options include both cloud and on-premises solutions, catering to the requirements of both large enterprises and small to medium enterprises. This cybersecurity approach finds application in various sectors, including IT and ITES, banking, financial services and insurance (BFSI), healthcare, as well as energy and utilities.

The cybersecurity mesh market research report provides cybersecurity mesh market statistics, including cybersecurity mesh industry global market size, regional shares, competitors with a cybersecurity mesh market share, detailed cybersecurity mesh market segments, market trends and opportunities, and any further data you may need to thrive in the cybersecurity mesh industry. This cybersecurity mesh market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cybersecurity mesh market includes revenues earned by entities by identity-based security mesh, endpoint security mesh, IoT security mesh, and application security mesh. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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