Unified Threat Management Market Share Report, Trends & Forecast 2030

The unified threat management market is expected to grow from US$ 5.25 billion in 2022 and is expected to reach US$ 11.88 billion by 2030; it is estimated to record a CAGR of 10.7% from 2022 to 2030.

Analyst Perspective:

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.

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

Market Size Value in	US$ 5.25 billion in 2022
Market Size Value by	US$ 11.88 billion by 2030
Growth rate	CAGR of 10.7% from 2022 to 2030
Forecast Period	2022-2030
Base Year	2022

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Market Driver:

Rising Cases of Data Breach Drive Unified Threat Management Market Growth

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.
• As of July 2023, the file transfer tool MOVEit experienced a massive data hack impacting 200 organizations and 17.5 million individuals. The data of multiple critical organizations and government bodies, such as the Department of Agriculture, Energy, and Department of Health and Human Services, got leaked.
• 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.

Report Segmentation and Scope:

The unified threat management market is segmented on the basis of component, deployment, enterprise size, and end users. Based on component, the unified threat management market is segmented into solutions and services. The services segment is sub-segmented into consulting and support, maintenance and others. Based on deployment, the unified threat management market is bifurcated into on-premise and cloud. Based on enterprise size, the market is bifurcated into small and medium enterprises (SMEs) and large enterprises. In terms of end user, the unified threat management market is categorized into BFSI, retail, government, IT & telecom, manufacturing, healthcare, and others. By geography, the unified threat management market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

Segmental Analysis:

Based on component, the unified threat management market is segmented into solutions and services. The solutions segment held a larger unified threat management market share in 2022 and is anticipated to record a higher CAGR in the market during the forecast period. The solution usually includes functions such as antivirus, anti-spyware, network firewalling, anti-spam, content filtering, intrusion detection and prevention, and leak prevention. The prominent factor for adopting this solution is its ability to provide several security features in a single solution. This single converged platform providing multiple security solutions solves network security issues by avoiding data breach events, thus fueling the unified threat management market for the segment.

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Regional Analysis:

North America held the largest unified threat management market share in 2022. The North America 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.

Key Player Analysis:

Fortinet Inc, Check Point Software Technologies Ltd, SonicWall Inc, Sophos Ltd, Cisco Systems Inc, Juniper Networks Inc, Barracuda Networks Inc, Stormshield SAS, Huawei Technologies Co Ltd, and WatchGuard Technologies Inc are the key unified threat management market players profiled in the report.

Recent Developments: 

The unified threat management market players highly adopt inorganic and organic strategies. A few recent key market developments are listed below: 

• In April 2023, 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.
• In March 2023, WatchGuard Technologies, a global specialist in unified cybersecurity, announced the launch of ThreatSync, a comprehensive XDR solution included as part of WatchGuard's Unified Security Platform architecture that provides extended Detection and Response (XDR) technology for WatchGuard Network and Endpoint Security products.
• In November 2022, 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.
• In April 2022, Inmarsat launched Fleet Secure Unified Threat Management (UTM) as a standard option on Inmarsat's award-winning Fleet Xpress service, protecting vessel networks against cyberattacks. Fleet Secure UTM completes a portfolio of Inmarsat cyber security solutions for ship owners, which includes Fleet Secure Endpoint and Fleet Secure Cyber Awareness Training. Developed in partnership with maritime Cyber Security specialist Port-IT, the resilience of Fleet Secure UTM protection is based on its consolidation of multiple network security tools in a single application.