According to the latest report by IMARC Group, titled "Security Appliances Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027, the global security appliances market reached a value of US$ 102.4 Billion in 2021. Security appliances refer to stand-alone tools and practices designed to protect a computer network from unwanted cyber traffic. Some common types of security appliances include active, passive and preventive devices and unified threat management. These applications are deployed on-cloud and on-premises by organizations to prevent possible threats to data, hardware, network, and computer programs, such as data theft, burglary, terrorism, and virus. Security appliances involve user accounts, encryption, anti-virus software, and a firewall that works in combination to filter trusted and untrusted networks. On account of these benefits, they find extensive applications across the defense, healthcare, information technology (IT), and banking, financial services and insurance (BFSI) industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Security Appliances Market Trends:
The increasing incidents of cyberattacks and rising security breaches represent the key factor driving the global security appliances market growth. As a result, organizations are widely adopting cloud-based solutions combined with additional infrastructural technologies to create highly secure platforms. Additionally, the emerging trend of bring-your-own-devices (BYOD) to the workplace has further accelerated the market growth as it has made networks more vulnerable to malware and cyber threats. Moreover, security appliances are cost-effective and provide advanced solutions for managing complex data volumes, which is acting as a major growth-inducing factor. Apart from this, the development of advanced security appliances integrated with improved range, capabilities and functionalities, are further creating a positive outlook for the market. Looking forward, the market is expected to grow at a CAGR of 13% during 2022-2027.
- Based on the type, the market has been divided into firewall, unified threat management (UTM), intrusion detection and prevention (IDP), content management, virtual private network (VPN), and others.
- On the basis of the deployment, the market has been bifurcated into cloud-based and on-premises.
- Based on the end user, the market has been segmented into small and medium enterprises and large organizations.
- On the basis of the vertical, the market has been classified into BFSI, healthcare, IT and telecom, retail, energy and utilities, manufacturing, and others.
- On the geographical front, the market has been categorized into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Bosch Sicherheitssysteme GmbH (Robert Bosch GmbH), Check Point Software Technologies, Cisco Systems Inc., Fortinet Inc., Hewlett Packard Enterprise Company, Honeywell International Inc., Intel Corporation, Juniper Networks Inc., NortonLifeLock Inc., Palo Alto Networks Inc. and Trend Micro Inc.
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