The edge security market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 21.6% during the forecast period, to reach USD 51.1 billion by 2027 from USD 19.2 billion in 2022.
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By component, the services segment is expected to grow at a higher CAGR during the forecast period.
Based on components, the market is segmented into solutions and services. The services segment is expected to grow at a higher CAGR during the forecast period. The services segment has been broadly classified into professional and managed services. Professional services have been further classified into implementation & integration, training & consulting, and support & maintenance. The training & consulting services segment enables enterprises to choose the best possible solutions and services depending on the company size, requirement, usage, and many more. Support & maintenance services provide enterprises with technical, customer, and backup support to ensure uninterrupted operational activities. With the higher adoption of edge security solutions across the industry verticals, organizations’ demand for supporting services is also increasing. On the other hand, managed services are offered by the third-party provider to manage the additional and operational challenges of the enterprise.
Large enterprises segment to hold significant market share in 2022.
Enterprises with more than 1,000 employees are considered large enterprises. Large enterprises are the early adopters of edge security solutions, as they use a large number of business applications that are susceptible to fraudulent attacks. As these enterprises are large, with different types of IT infrastructure, they face the difficult task of effectively managing the security of their several applications. Unlike SMEs, large enterprises are well-equipped with technical skills, have higher investment capabilities, and are more exposed to cyberattacks. This has led to higher awareness levels among large enterprises. Hackers try to hack into the networks and systems of enterprises for either financial interests or to access unauthorized data and information. These factors encourage large enterprises to adopt edge security solutions early.
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Unique Features in the Edge Security Market
Before data reaches centralised servers or the cloud, edge security solutions ensure prompt threat identification and mitigation by distributing protection closer to the data source at the network’s edge.
In order to meet the demands of edge devices, these solutions are made to be lightweight and resource-efficient, guaranteeing minimal performance effect while providing strong security protections.
By utilising machine learning and artificial intelligence (AI) algorithms to analyse traffic patterns and identify anomalies at the network’s edge, edge security solutions have dynamic threat detection capabilities that adjust to changing threats in real-time.
In order to ensure secure communication inside the edge environment and prevent unauthorised access, edge security platforms provide device authentication procedures to confirm the identity and integrity of edge devices.
The centralised management, policy enforcement, and threat information sharing between edge devices and cloud environments are made possible by these solutions’ seamless integration with cloud-based security platforms.
Major Highlights of the Edge Security Market
The industry is expanding quickly due to the growing use of edge computing technologies in a variety of sectors and the rising security risks related to decentralised edge settings.
By offering protection nearer to the data source, guaranteeing prompt threat detection, and mitigating risks at the network’s edge, edge security solutions solve the particular security issues of dispersed edge environments.
These solutions provide edge-native security services, customised to the unique needs and limitations of edge devices and settings, including firewalling, intrusion detection and prevention, data encryption, and safe bootstrapping.
Edge security solutions use machine learning and artificial intelligence (AI) algorithms to analyse traffic patterns and identify anomalies at the network’s edge. These tools enable dynamic threat detection capabilities that adjust to changing threats in real-time.
Cloud-based security platforms and edge security solutions can be seamlessly integrated, allowing for shared threat intelligence, centralised management, and policy enforcement between edge devices and cloud environments.
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Top Key Companies in the Edge Security Market
The major players have adopted various growth strategies to expand their global presence and increase their market reach to enhance their customer base. Key players such as Palo Alto Networks (US), Check Point (Israel), Broadcom (US), Fortinet (US), and Cisco (US) have adopted strategies such as product launches and upgradations, partnerships, agreements, and mergers and acquisitions to gain market presence and support the growth of the global edge security market.
Palo Alto Networks is a pioneer provider of network security solutions that enable its clients to run applications on their networks safely and prevent any security breaches or targeted cyberattacks. It addresses the world’s greatest security challenges with continuous innovations that seize the latest breakthroughs in AI, analytics, automation, and orchestration. Its broad range of solutions provides security across the network, endpoint, and the cloud. Its next-generation security platform consists of three major elements: NGFW, advanced endpoint protection, and threat intelligence cloud. The company’s cybersecurity portfolio includes STRATA for securing the enterprise, PRISMA for securing the cloud, and CORTEX for securing the future. These include various solutions and services for cybersecurity, such as endpoint security, cloud security, NGFW, Prisma SaaS, and Security Subscriptions. The company also offers support & maintenance, and professional services, including planning, designing, and deploying effective security solutions. With a strong presence across various regions, such as North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America, Palo Alto Networks delivers its solutions and services to SMEs and large enterprises across various industry verticals, such as electric utilities, BFSI, healthcare, oil & gas, retail, Industrial Control Systems (ICS) and SCADA, government, and education.
Check Point provides cybersecurity solutions to corporate enterprises and governments across the globe. Check Point’s industry-leading solutions ensure protection from the fifth-generation cyberattacks. The company’s comprehensive security management system offers ‘Infinity Total Protection with Gen V Advanced Threat Prevention (ATP),’ a multilevel security architecture in cloud platforms, networks, and mobile devices. Its customer base includes 100,000 organizations of all sizes.
Its cybersecurity services and solutions include network security, Next-Generation Firewall (NGFW), Intrusion Prevention (IPS), DLP, endpoint protection, information security, Unified Threat Management (UTM), threat intelligence, cyber threat detection, and security compliance. Check Point CloudGuard offers unified cloud-native security across applications, workloads, and networks. It helps automate security, prevent threats, and manage posture at cloud speed and scale. Check Point provides cybersecurity solutions to industry verticals, such as retail, financial services, government, healthcare, Industrial Control Systems (ICS), telecommunications, and education. The company is present across 38 locations and has 75 offices in Asia Pacific, Europe, the Middle East & Africa, North America, and Latin America.
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