U.S (New York) – New research study titled “Security Appliances Market ” for the year 2023, encompassing various aspects such as industry size, market share, growth analysis, segmentation, leading manufacturers and innovations, key trends, market drivers, restraints, regulatory framework, distribution methods, opportunities, strategies, potential roadmap, and annual forecasts until 2031. The primary objective of this market research study is to thoroughly examine the industry, enabling businesses to gain comprehensive insights into the sector and its economic potential. By leveraging accurate statistical research data provided by Report Ocean 2023 to 2031, your business can experience accelerated growth. This report also delves into PESTLE & SWOT analysis, Porter’s Five Forces Analysis, and provides crucial information including expenditure, costs, revenue, and end-users. With over 150+ pages, the document offers a comprehensive table of contents, 180+ figures, tables, charts, and insightful analysis.
The global Security appliances market was valued at $47,504 million in 2015, and is projected to reach $108,948 million by 2022, growing at a CAGR of 13.0% from 2016 to 2022. As a result of these circumstances, outsourcing network security to the security appliance service providers has emerged as a lucrative option for organizations. Also, network security services can be delivered either by setting up necessary security infrastructure or by complete control of the service provider from a remote location.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Security appliances can be defined as a set of network management and security tools that are designed to protect the inside and outside of the network system from various cyber threats. The security appliances market includes firewall, intrusion detection and prevention (IDP), content management, unified threat management (UTM), and virtual private network (VPN). Security appliances protect the safety of assets from cyber-crime and terrorism and other network service interruptions that affect daily operations in order to effectively protect sensitive data of organizations. Network security can be accomplished through active monitoring, exposure of outages or malicious movement, and prompt response to disruptions.
The task of information security is becoming more complex with the growth of businesses in terms of size, structure, and utilization of mobile devices, social media, cloud services, and big data. Rising number of security attacks and malicious practices by trained cybercriminal groups have been creating concerns for organizations across all industry sectors. In addition, increased complexities in network infrastructure are causing a major hindrance in data security management.
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The rising adoption of cloud based solutions, mobility, and bring-your-own-device (BYOD) trend has enabled endpoint protection to be a crucial part of all security departments. Security threats and vulnerabilities vary from day to day and even hour to hour. In addition, maintaining security in a wireless environment is a challenge for most vendors in the ecosystem. Moreover, cyber threats affect more than just the information technology (IT) infrastructure of a company. These threats cause disruptions to the entire network that can impact principal business functions. Organizations evaluate network security in terms of direct influence to the successful execution of an organization’s primary mission.
The global security appliances market is segmented based on types, deployment modes, industry verticals, and geography. Based on type, the market is categorized into firewall, intrusion detection and prevention (IDP), content management, unified threat management (UTM), and virtual private network (VPN). Industry vertical segments include banking, financial services & insurance (BFSI), public sector, energy & utilities, retail, IT & telecom, manufacturing, aerospace & defense, healthcare, and others. Deployment mode segment is sub-segmented into cloud-based and on-premise deployment. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS
This report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global security appliances market.
Porter’s Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the security appliances market to determine the investment pockets of the market.
Current and future trends adopted by the key market players are highlighted to determine overall competitiveness of the market.
The quantitative analysis of the security appliances market growth from 2014 to 2022 is provided to elaborate the market potential.
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Key players profiled in the report
Cisco Systems, Inc.
Check Point Software Technologies Ltd.
Symantec Corporation
Intel Corporation
Fortinet, Inc.
Palo Alto Networks, Inc.
Bosch Sicherheitssysteme GmbH
Honeywell International Inc.
Johnson Controls International plc.
Juniper Networks, Inc.
Other Market Players Mentioned in the Report
WatchGuard Technologies, Inc., Cyberoam Technologies, Nozomi Networks, NetMotion, Inc., and others.
Security Appliances Market Key Segments:
By Type
Firewall
Unified threat management (UTM)
Intrusion detection and prevention (IDP)
Content management
Virtual private network (VPN)
By Deployment
Cloud
On-premise
By Industry Vertical
Aerospace and Defense
Banking, Financial Services, and Insurance (BFSI)
Public Sector
Retail
Healthcare
IT and Telecom
Energy and Utilities
Manufacturing
Others
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By Geography
North America
U.S.
Canada
Mexico
Europe
UK
France
Germany
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Arica
Market Dynamics:
Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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