Unified Threat Management Market Analysis and Opportunities by 2030

The unified threat management market size is projected to reach US$ 11.88 billion by 2030 from US$ 5.25 billion in 2022. The market is expected to register a CAGR of 10.7% during 2022–2030. Integration of artificial intelligence and machine learning is likely to remain a key trend in the market.

Unified Threat Management Market Analysis

The antivirus feature of a unified threat management solution helps businesses monitor the network and detect and stop viruses from damaging their system or its connected devices. Antivirus solutions of unified threat management can prevent Trojans, infected files, worms, spyware, and other malware. The firewall solution of unified threat management helps businesses scan incoming and outgoing traffic for malware, viruses, phishing attacks, attempts to intrude on the network, spam, and other cyberattack threats. It can examine both the data coming in and out of their network and prevent devices within the network from spreading malware to other networks. The data loss prevention feature helps the business to identify data breaches and exfiltration attempts and then stop them. Thus, such wide benefits and consolidated solutions offered by unified threat management solutions lead to their adoption by several end-use industries such as BFSI, retail, government, IT & telecom, manufacturing, and healthcare to secure their network.

The rising cyber threats across varied industry verticals and the increasing number of connected devices are the primary factors promoting the unified threat management market growth. Also, increased spending on the adoption of unified security solutions by SMEs due to its cost-effective nature is expected to fuel the growth of the unified threat management market in the near future.

Unified Threat Management Market Overview

Unified threat management solutions and services are a consolidated framework of features such as gateway antivirus, data leak prevention, content filtering, and load balancing. The adoption of unified threat management helps businesses consolidate their IT security solutions into one platform and simplify the protection of the network. The businesses can monitor all the potential threats and security-related activity through a single platform. In this way, businesses can attain complete, simplified visibility into all the verticals of their security or wireless architecture.

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Unified Threat Management Market: Strategic Insights

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Unified Threat Management Market Drivers and Opportunities

Rising Cases of Data Breach to Favor Market

The rise in digitalization has encouraged several businesses across various industry verticals to digitalize their business in order to gain competitive advantage, enhance operational workflow, and reach more targeted audiences. However, the adoption of digital solutions makes critical data vulnerable and accessible to potential data breach incidents, leading to a rise in the number of data breach cases and incidents. A data breach is a security incident where an unauthorized party gains access to any business-sensitive and crucial information. Data breach incidents can impact business performance due to loss of critical information, financial losses, loss of trust of customers, and others. A few of the data breach incidents and related information are mentioned below:

• In June 2023, a major data breach case took place as a Telegram bot uploaded the data of millions who registered on the COWIN app. The data leak included mobile numbers, Aadhar card IDs, passports, and other critical customer information.
• In July 2023, IBM Security released the Cost of a Data Breach report for 2023. The report indicated that the global average data breach cost reached US$ 4.45 million in 2023, a 15% increase over the previous three years.
• In May 2023, Deutsche Telekom AG's brand T-Mobile experienced its second data breach case for 2023, where over 800 customer's PINs, full names, and phone numbers got leaked.

Adopting unified threat management solutions and services can help businesses boost their network security. This solution provides multiple security features via a single platform, which can help to get an advanced level of cost-efficient security solution. Thus, the rise in the number of data breach cases generates the demand for enhanced levels of security solutions, such as unified threat management, thereby fueling the market growth.

Growing Focus on Hybrid Unified Threat Management

Digital transformation continues to act as the main driver of organizational change. It also has a significant effect on security teams. As enterprises migrate to or from cloud environments, UTM tools find it difficult to fully cover the attack surface that enterprises encounter. The traditional UTM is unable to cover everything from cloud presence, on-premises, and SaaS products to code repositories and endpoint security. In order to protect themselves from all sides, companies add numerous more single-function tools to their UTM packages. In the coming years, businesses will increasingly adopt hybrid UTM solutions.

Unified Threat Management Market Report Segmentation Analysis

Key segments that contributed to the derivation of the unified threat management market analysis are the component, deployment, enterprise size, and end users.

• Based on the component, the unified threat management market is divided into solution and services. The solution segment will hold a significant market share in 2022.
• By deployment, the market is segmented into cloud and on-premise. The cloud segment held the largest market share in 2022.
• By enterprise size, the market is segmented into large enterprises and SMEs. The large enterprises segment held the largest market share in 2022.
• In terms of end user, the market is segmented into BFSI, manufacturing, healthcare, retail, government, IT & telecom, and others. IT & telecom is expected to grow with the highest CAGR over the forecast period.

Unified Threat Management Market Share Analysis by Geography

The geographic scope of the unified threat management market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America held the largest unified threat management market share in 2022. The North American unified threat management software market is segmented into the US, Canada, and Mexico. The substantial majority of Americans experienced cyberattacks in 2022 on the nation's public infrastructure or financial and banking systems. Because of this, the US government is taking several initiatives to handle cyberattacks on public infrastructure or government agencies. Also, the increasing number of Distributed Denial-of-Service (DDoS) attacks in North America is one of the factors for the growth of the unified threat management market. In August 2023, Zayo Group Holdings, Inc.—a leading global communications infrastructure provider—announced its annual DDoS Insights Report, analyzing DDoS attack activity and impact across industries in the first half of 2023. The report analyzed more than 70,000 threat detections and mitigation experiences by Zayo Group Holdings, Inc.'s customers across 14 industries in America and Western Europe between January 1 and June 30, 2023. Various sectors, including IT & telecommunication, education, retail, media, healthcare, and government, were hit by DDoS attacks. Telecommunications companies were a prime target for attackers due to the critical role telecom providers play in providing communication and Internet services. The industry saw the most frequent attacks, accounting for roughly half of the total attack volume, with more than 37,000 attacks in the first half of 2023. Hence, the increase in DDoS attacks in North America is boosting the adoption of unified threat management solutions.

Unified Threat Management Market Regional Insights

The regional trends and factors influencing the Unified Threat Management Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Unified Threat Management Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Unified Threat Management Market Report Scope

Unified Threat Management Market Players Density: Understanding Its Impact on Business Dynamics

The Unified Threat Management Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Unified Threat Management Market News and Recent Developments

The unified threat management market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the unified threat management market are listed below:

• Cisco unveiled the latest progress toward its vision of the Cisco Security Cloud, a unified, AI-driven, cross-domain security platform. Cisco's new XDR solution and the release of advanced features for Duo MFA will help organizations better protect the integrity of their entire IT ecosystem. (Source: Cisco, Press Release, April 2023)

• WatchGuard Technologies announced the release of its new Firebox M290, M390, M590, and M690 unified threat management appliances. An affordable yet competent solution for small and midsize businesses. These new firewalls deliver increased security and the fastest performance of any mid-range Firebox appliance ever, with the processing power to handle encrypted and HTTPS traffic. In addition, new expandable ports and integration with WatchGuard Cloud enable these firewalls to offer the flexibility needed to accommodate changing networking and security needs for customers and service provider partners. XX. (Source: WatchGuard Technologies, Press Release, November 2022)

Unified Threat Management Market Report Coverage and Deliverables

The “Unified Threat Management Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:

• Unified threat management market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Unified threat management market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Unified threat management market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the unified threat management market
• Detailed company profiles