Edge Security Market size was valued at USD 19.30 Billion in 2022 and is expected to grow from USD 23.45 Billion in 2023 to reach USD 111.36 Billion by 2031, at a CAGR of 21.5% during the forecast period (2024-2031).
Edge security refers to securing the network where data is created and stored by users. The growing use of connected devices and high adoption of cloud computing are projected to primarily augment the demand for edge security across the forecast period.
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The increasing sophistication of cyberattacks and the growing realization of vulnerabilities in edge environments are also creating new opportunities for edge security providers. High investments in the development of unique edge security solutions are also estimated to drive market growth. Implementation of stringent security regulations by regulatory bodies to ensure data privacy is also predicted to boost revenue generation for edge security companies. The dearth of skilled cybersecurity professionals is also a factor that bolsters the demand for automated edge security solutions integrated with advanced technologies. Automation in the manufacturing industry will promote the demand for edge computing thereby favoring edge security market development as well.
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Creating New and Innovative Edge Security Platforms to Remain Key Goal of Edge Security Companies
The growing use of connected devices and advancements in connectivity technologies are slated to bolster the importance of edge security. The rising need for secure access to cloud-based platforms and the high use of edge computing are also predicted to create new opportunities for edge security providers going forward. Emphasis on including new edge environments under edge security services is also a trend that market players can target. Adoption of a trust security approach by edge security companies will also help companies maximize their revenue generation in the long run. The use of new encryption methods to improve the quality of security is also a key aspect that edge security companies should look into. The BFSI and healthcare industries are projected to emerge as highly opportune markets for edge security companies in the long term. Companies can also integrate edge security solutions while edge infrastructure is being developed to maximize their efficacy.
- Cisco, a renowned technology organization collaborated with Kyndryl to launch new security edge services in January 2024. The companies collaborated to launch new scalable security solutions highlighting each other’s expertise.
- Lacework Edge, a security service edge product was launched in May 2024 by Lacework, a leading security provider. The newly launched solution provides end-to-end zero-trust connectivity. The utilization of Edge has helped improve the performance of this latest solution by around 20X.
- To manage edge computing environments, Spectro Cloud, a renowned provider of enterprise Kubernetes management platforms, announced the launch of Secure Edge-Native Architecture (SENA) in April 2023. The new offering works on zero trust principles and with the capability to handle highly scalable edge environments.
- In March 2021, Nortek Control announced the launch of a new 2GIG® EDGE™ security and automation panel. This new solution uses artificial intelligence to deliver a secure face recognition disarm feature with an intuitive user interface.
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High investments in securing edge platforms and the growing use of advanced connected devices are projected to continually create new opportunities for edge security providers. Adoption of zero trust security approach is slated to be highly important for new as well as established edge security companies going forward.
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