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The Global Edge Security Market size is expected to reach $57.2 billion by 2028, rising at a market growth of 20.3% CAGR during the forecast period.
Both the services and technology are known as edge security, which is used to protect assets like data, and the issues related to ensuring the protection of an organization’s assets and intellectual property. In terms of services and products, edge security is where compute, storage, and network resources are utilized to assist in securing applications, services, and devices.
Edge cybersecurity gives security for computing processes that occur at the farthest reaches of the organization’s network. Frequently, these areas can pose a superior security risk, as the organization’s perimeter does not entirely encompass them. Whenever computations occur closest to the device rather than the network infrastructure, edge computing takes place.
Some general examples are IoT devices, sensors, fitness bands, and self-driving cars. Edge security devices may contain firewalls, routers, WAN devices, etc. They are designed to safeguard an organization from IoT edge computing devices that connects to the network. These security devices are intended to preserve the network’s perimeter and protect the network from edge devices.
Smart edge devices come with built-in processes, artificial intelligence (AI), and analytics and may consequently have embedded edge security. Most medical edge devices contain built-in security, which sometimes competes with enterprise networks. Beyond the perimeter, web filtering, software firewall, anti-malware solutions, intrusion prevention systems, and smart threat detection will analyze the behavior of edge computing devices and supervise them for threats.
The pandemic has compelled enterprises to prefer e-learning and remote working platforms. With the growing popularity of remote working, business networks have seen increased requests for access. This factor resulted in increased traffic levels and increased data encryption traffic coming to the company networks. As a result, the requirement for an advanced network solution is expected to grow. Also, these types of security solutions are also anticipated to gain popularity in particular businesses even after the pandemic.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions.
The need for enhanced connectivity technology, like 5G, will continue to increase the growth and investment in edge computing and security. It will be easier to address numerous problems, like system lags and network connectivity in data processing, as the deployment of 5G is expected to take shape in computing devices. Driverless vehicles, augmented reality, and IoT devices are among the areas where the application of 5G would increase the edge computing devices, surging the demand for edge security to safeguard the database. Therefore, drive the edge security market’s growth.
The cloud development mode gives flexibility, cost-effectiveness, and scalability to smoothen business operations. With SMEs shifting their focus to cloud solutions, service providers and cloud-based data protection solutions are anticipated to see significant growth, like in protecting the data of SMEs from security breaches and vulnerabilities. Cloud-based security solutions help in meeting the increasing need for IT security. SMEs have become more inclined toward adopting cloud-based security solutions, and cloud-based security service providers can use this opportunity by offering customized services to enterprises globally, which is expected to increase the adoption of edge security services and boost market growth.
This lack of awareness also caused low budgeting as almost every business face challenges in dealing with the lack of genuine data security and threats. Companies are still failing to allocate the necessary funds for these security solutions. Also, the initial setup cost of the software may be high and require constant supervision. Furthermore, many companies need specialized security software, which might cost extra. The less awareness and the low budget for the implementation of the security solutions like edge security will hamper the market expansion in the projected period.
Based on component, the edge security market is segmented into solution and services. The solution segment held the highest revenue share in the edge security market in 2021. This is due to the increased risk of malicious activity between the internet and corporate network. The shift to the network edge means users need direct internet access to SaaS and cloud applications, which raises the risk of cyberattack. With edge security, the internet has become a trusted method for connecting enterprise resources. This essential component provides security features to organizations and secure access without compromising performance.
On the basis of organization size, the edge security market is divided into small & medium enterprises (SMEs) and large enterprises. The large enterprise segment witnessed the largest revenue share in the edge security market in 2021. The growth is attributed due to the rising number of cyber-attacks on large firms, which have encouraged the adoption of edge security. Also, there is rising security awareness amongst the firms to protect their database. Hence the rising number of cyber-attacks and the awareness regarding edge security will boost the market segment’s growth in the forecasted period.
By vertical, the edge security market is classified into, government & defense, BFSI, IT & telecom, healthcare & life sciences, retail & e-commerce, manufacturing, energy & utilities and others. The government & defense segment garnered a prominent revenue share in the edge security market in 2021. The growth is attributed to the small size of the edge-based system, which requires fewer people to manage the technology. Edge technology also enables various government departments to opt for the data they want to collect, which allows them to decide where that data should be collected from and whether a particular edge device requires it to be connected at all times.
On the basis of deployment, the edge security market is divided into on-premise and cloud. The support & maintenance segment recorded a promising growth rate in the edge security market in 2021. They provide organizations with customer, backup, and technical support to ensure uninterrupted operations. With the higher adoption of edge security solutions across the industry verticals, the demand for supporting services by organizations is also increasing. The growing need is anticipated to propel the segment’s growth in the projected period.
|Market size value in 2021
|USD 16 Billion
|Market size forecast in 2028
|USD 57.2 Billion
|2018 to 2020
|2022 to 2028
|Revenue Growth Rate
|CAGR of 20.3% from 2022 to 2028
|Number of Pages
|Number of Table
|Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Competitive Landscape, Companies Strategic Developments, Company Profiling
|Component, Deployment Mode, Organization Size, Vertical, Region
|US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Region-wise, the edge security market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed the largest revenue share in the edge security market in 2021. The growth is due to the business dynamism, pillars, vital institution pillars, vibrant innovation ecosystem, and financing mechanism. The higher adoption of the IoT and 5G services in the region is increasing the demand for edge security solutions with the growing usage of edge computing. Moreover, the region is the hub for numerous edge security solution providers which are investing in R&D to develop innovative services and products. Thereby boosting the market expansion in the region.
Free Valuable Insights: Global Edge Security Market size to reach USD 57.2 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Broadcom, Inc. and Cisco Systems, Inc. is the forerunners in the Edge Security Market. Companies such as Palo Alto Networks, Inc., Check Point Software Technologies Ltd. Fortinet, Inc. are some of the key innovators in Edge Security Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Broadcom, Inc., Cisco Systems, Inc., Palo Alto Networks, Inc., Check Point Software Technologies Ltd., Fortinet, Inc., Zscaler, Inc., Cloudflare, Inc., F5 Networks, Inc., Citrix Systems, Inc. (Cloud Software Group, Inc.), and Forcepoint LLC (Francisco Partners).
By Deployment Mode
By Organization Size
The global Edge Security Market size is expected to reach $57.2 billion by 2028.
The increasing usage of 5G are driving the market in coming years, however, Insufficient budgeting and less awareness restraints the growth of the market.
Broadcom, Inc., Cisco Systems, Inc., Palo Alto Networks, Inc., Check Point Software Technologies Ltd., Fortinet, Inc., Zscaler, Inc., Cloudflare, Inc., F5 Networks, Inc., Citrix Systems, Inc. (Cloud Software Group, Inc.), and Forcepoint LLC (Francisco Partners).
The expected CAGR of the Edge Security Market is 20.3% from 2022 to 2028.
The Cloud segment acquired maximum revenue share in the Global Edge Security Market by Deployment Mode in 2021 thereby, achieving a market value of $37.7 billion by 2028.
The North America market dominated the Global Edge Security Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $20.9 billion by 2028.
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