The global security appliances market is expected to grow at a significant CAGR during the forecast period (2024-2031). Information security and operational technology security are both addressed by security appliances, which encompass a variety of tools and strategies. Furthermore, security appliances employ web filtering, sophisticated threat prevention, and legacy malware protection to protect users from Internet-borne dangers while also assisting businesses in enforcing internet policy compliance. Security appliances are low-cost devices that can be used for a variety of applications such as intrusion detection and prevention, antivirus, unified threat management, VPN (Virtual Private Networking), and firewall and content management. Several companies have begun to use security appliances that use cloud-based security solutions to ease data storage, as the cloud provides remote servers accessible through the internet, allowing access to almost unlimited computing capacity.
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Furthermore, cloud-based solutions enable enterprises to incorporate various infrastructure technologies, such as software-defined parameters, to develop stable and secure platforms. The growth of firewall and unified threat management continues to be strong as these technologies include advanced security features that leverage and provide cloud protection solutions. The global security appliances market is growing due to the rising demand for cloud-based security solutions and severe regulatory requirements. However, market growth is hampered by data breaches.
In the next years, increased cybercrime and the trend towards bring-your-own-device are projected to create opportunities for the market. To secure sensitive data from cyber phishing, web hacking, hacktivism, and cyber spying, businesses are implementing cost-effective and efficient techniques. Furthermore, the growing trend of bringing your own device (BYOD) into the workplace is boosting the market growth. Through smartphones, tablets, and laptops, there is a high vulnerability from malware and attacks on businesses and consumers. As a result, the growing usage of cloud-based solutions is also driving market growth. Integration of security appliances with cloud computing allows for more efficient data storage, remote access to servers, and pattern recognition analytics, all of which contribute to the growing demand for security appliances. Other factors contributing to the market growth include technological improvements such as technological innovations with security appliances with enhanced range and capabilities.
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Market Coverage
- Segment Covered-
o By Application
o By End-User
- Competitive Landscape: Symantec Corp. Cisco Systems Inc, FireEye Inc., McAfee, LLC, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Security Appliances Market Report Segmentation
By Application
- Unified Threat Management
- Firewall and Content Management
- Intrusion Detection and Prevention
- Virtual Private Network
By End-User
- BFSI
- IT and Telecom
- Energy and Utilities
- Manufacturing
- Healthcare
- Others (Education, Travel & Tourism)
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