Unified Threat Management Global Market Report 2024

The unified threat management market size has grown rapidly in recent years. It will grow from $6.49 billion in 2023 to $7.35 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth observed in the historical period can be attributed to several factors, including the increase in cybersecurity threats, the rising penetration of the internet, the proliferation of mobile devices, the growth of remote workforce arrangements, and the expansion of cloud computing. These factors collectively contributed to the increased demand for Unified Threat Management (UTM) solutions as organizations sought comprehensive and integrated approaches to address evolving cybersecurity challenges and secure their networks and data.

The unified threat management market size is expected to see rapid growth in the next few years. It will grow to $11.95 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The anticipated growth in the forecast period can be attributed to factors such as the increasing sophistication of malware attacks, the expanding deployment of Internet of Things (IoT) devices, the shift towards edge computing, the integration of Unified Threat Management (UTM) with security orchestration tools, and the growing awareness of the importance of cybersecurity. Major trends expected in the forecast period encompass advancements in technology, ongoing product innovations in the UTM space, initiatives focused on cloud security, and the continuous development of web applications with a security-oriented approach. These trends reflect the dynamic landscape of cybersecurity and the evolving strategies to counter emerging threats.

The anticipated increase in cyber-attacks is expected to drive the growth of the unified threat management (UTM) market. Cyber-attacks encompass intentional efforts to steal, expose, alter, disable, or destroy data, applications, or other assets through unauthorized access to networks, computer systems, or digital devices. UTM solutions play a crucial role in simplifying network security management by providing a centralized platform for monitoring and mitigating various cyber threats, including malware, network attacks, and other security risks. According to the Australian Cyber Security Centre in February 2023, cybercrime reports received in 2022 reached 76,000, marking a 13% increase from the previous year. This surge in cyber-attacks is a key driver propelling the growth of the unified threat management market.

Major players in the unified threat management market are actively pursuing innovative solutions, such as WatchGuard Cloud. WatchGuard Cloud is a comprehensive cloud-based platform that consolidates the management of network security, multi-factor authentication, and threat intelligence into an intuitive interface. It enables customized reporting, user information visibility, and the transformation of raw network data into actionable insights. In October 2021, WatchGuard Technologies, a US-based leader in network security, multi-factor authentication, advanced endpoint protection, and secure Wi-Fi, announced the release of its new Firebox M290, M390, M590, and M690 UTM appliances. These appliances are designed to be affordable yet highly capable solutions for small and midsize businesses, offering increased security and the fastest performance of any mid-range Firebox appliance. The new features, including expandable ports and integration with WatchGuard Cloud, provide flexibility to accommodate changing networking and security needs for customers and service provider partners.

In April 2021, HCL Technologies Limited, a US-based software company, formed a partnership with The International Business Machines Corporation (IBM) to modernize security operations. This collaboration aims to provide security teams with access to a unified security platform covering the entire threat lifecycle. HCL's Cybersecurity Fusion Centers (CSFCs) leverage IBM's Cloud Pak for Security to establish a unified security platform connecting security teams, tools, and processes throughout the threat lifecycle. The International Business Machines Corporation is a US-based software company.

Major companies operating in the unified threat management market report are Dell Inc, Huawei Technologies Co. Ltd., Hewlett-Packard Development Company L.P., The International Business Machines Corporation, Cisco Systems, Juniper Networks Inc., Fortinet Inc., Check Point Software Technologies Ltd., McAfee Corp, Trend Micro Incorporated, Sangfor Technologies, Trustwave Holdings Inc., SonicWall Inc., Bitdefender, Barracuda Networks Inc, WatchGuard Technologies Inc., Comodo Security Solutions Inc., Hillstone Networks Co, Stormshield SAS, Sophos Limited, DigiCert Inc., Clavister, Sequrix, Untangle, SecPoint, StormForce, Panda Security S.L.U.

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

The unified threat management (UTM) market consists of revenues earned by entities by providing services such as antivirus/antimalware, firewall, virtual private network (VPN), web filtering, data loss prevention, logging and reporting, and application control. The market value includes the value of related goods sold by the service provider or included within the service offering. The unified threat management (UTM) market also includes sales of routers, modules or blades, and servers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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).

Unified Threat Management (UTM) is an integrated information security system that consolidates multiple security features and services into a single device or software program. It is designed to prevent unauthorized access, block malicious activities, and enforce security policies across various layers of a network or computing environment. UTM solutions typically include a combination of features such as firewall, intrusion detection and prevention, antivirus and antimalware, virtual private network (VPN) support, content filtering, and more, providing a comprehensive approach to network security.

The main components of Unified Threat Management (UTM) include hardware, software, and virtual solutions. These components collectively form the infrastructure necessary to provide integrated security features. Unified Threat Management is delivered as a service, which refers to an intangible good produced and consumed simultaneously. UTM services can be deployed in various models, including cloud-based and on-premise solutions. End users across diverse sectors such as Banking, Financial Services and Insurance (BFSI), manufacturing, healthcare, retail, government, Information Technology (IT), telecom, and others leverage UTM services to enhance their cybersecurity measures.

The unified threat management market research report is one of a series of new reports that provides unified threat management market statistics, including unified threat management industry global market size, regional shares, competitors with a unified threat management market share, detailed unified threat management market segments, market trends and opportunities, and any further data you may need to thrive in the unified threat management industry. This event app 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 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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