The global unified threat management market has become a vital need for the corporate and enterprise sector in recent years, along with government agencies, due to the rising threat posed by cybercrime. The growing volume of sensitive data gathered by modern businesses and governments has made comprehensive cyber security a top priority for many players, which is likely to enable smooth growth of the global unified threat management market in the coming years. Unified threat management covers a vast range of security concerns such as firewalls and intrusion alerts as well as spam, antimalware, and other types of content filtering services. The availability of various security tools under a single brand name and operating system has made the unified threat management market likely to exhibit robust growth over the coming years.
According to Transparency Market Research, the global unified threat management market is expected to exhibit a CAGR of 11.1% over the 2017-2022 forecast period. The valuation of the unified threat management market is likely to rise from US$3.4 bn to US$5.8 bn over the timeframe.
Here are the key insights into the growth prospects of the global unified threat management market:
The key advantage provided by unified threat management systems is the convenience of being able to manage various forms of cyber security protocol from a single moderation point. While sophisticated tools for the disparate arms of cyber security are freely available at present, these force the user to allocate separate resources to each mode, making them inconvenient for many players. In contrast, the convenient mode of operation presented by unified threat management makes UTM systems highly attractive for their varied range of end users.
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On the other hand, the comprehensive reach of unified threat management systems also makes them a potential threat in terms of the damage possible if a single component of the system were to fail. This has made many potential customers wary about installing unified threat management systems. To this end, consistent technological progression is necessary in the unified threat management market in order to ensure the availability of security systems updated to the latest database about potential cybercrime threats.
Key end use verticals for the unified threat management market include BFSI, government, and IT and telecom. The growing use of digital information gathering protocol in these sectors is likely to remain a vital driver for the global unified threat management market over the 2017-2022 forecast period. The rising number of instances of hackers targeting point of sale architecture to gain access to the user’s sensitive details such as card details, as well as espionage, is likely to make the adoption of unified threat management systems vital for the enterprise sector in the coming years.
Geographically, North America is likely to remain the dominant regional contributor to the global unified threat management market over the 2017-2022 forecast period. The North America unified threat management market is likely to exhibit a robust 11.6% CAGR over the 2017-2022 forecast period, rising from a 2017 valuation of US$1.2 bn to more than US$2.1 bn by the end of 2022. Japan is also likely to remain a vital contributor to the global unified threat management market over the coming years due to the strong presence of digital resources in Japan. The Japan unified threat management market is likely to exhibit the highest 14.2% CAGR between 2017 and 2022.
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Global Unified Threat Management Market: Competitive Dynamics
Leading players in the global unified threat management market include Check Point Software Technologies Ltd., WatchGuard Technologies Inc., Juniper Networks Inc., Cisco Systems Inc., IBM Corporation, Huawei Technologies Co. Ltd., Fortinet Inc., Hillstone Networks Inc., SonicWALL Inc., and Comodo Group Inc.