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The secure web gateway market size is forecast to increase by USD 11.71 billion at a CAGR of 21.52% between 2022 and 2027. The market's growth hinges on various factors, notably the escalating frequency of cyber attacks, compelling organizations to prioritize robust security measures. As businesses navigate the complexities of digital transformation, there's a mounting demand for integrated solutions capable of addressing multifaceted security challenges effectively. This surge in demand is fueled by the expanding digital landscape, where organizations increasingly rely on interconnected systems and platforms. With cyber threats evolving in sophistication and scale, there's a pressing need for comprehensive security solutions that can adapt and fortify defenses against emerging risks. As such, the market for cybersecurity solutions is poised for significant growth as businesses seek to safeguard their digital assets and maintain resilience in the face of evolving threats.
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In today's cyber threat environment, businesses face a myriad of dangers ranging from system viruses to unknown spyware infiltrating their networks. Unsecured communication channels and vulnerable internal networks become breeding grounds for malicious web traffic and insidious viruses. To fortify against these threats, organizations deploy Secure Web Gateways (SWG) as a cyber-barrier, filtering out online security threats and unauthorized traffic while scrutinizing web requests for compliance with company policy. However, even with robust defenses, malicious websites lurk, hosting Trojan horses, adware, and stealthy spyware aiming to compromise Individual data and Organizational data alike. With the rise of Remote employees, ensuring Web security becomes paramount, safeguarding and securing end-user data from Malware attacks and Data breaches. By staying vigilant against Harmful websites and Trojans, companies can navigate the digital landscape with greater confidence, mitigating risks and preserving their integrity.
The rising number of cyber-attacks is a key factor driving the market growth. Advances in the Internet of Things (IoT) technologies have resulted in a rise in the number of cybercrimes. This has driven companies to increase their focus on secure web gateway solutions. With the continuously changing cyber landscape, there is a high demand for cybersecurity resources as companies across industries aim to protect their data and financial security. However, despite the large investments that organizations make every year in cybersecurity projects, instances of cybersecurity attacks are on the rise and pose a major threat to businesses.
The number of cyberattacks has also increased over the years. The other types of cyberattacks that are happening are ransomware attacks, such as Locky and WannaCry. These types of attacks involve cybercriminals luring unsuspecting individuals into traps, taking control of the files by locking them on their systems, and demanding a ransom to release the locked files. Hence, an increase in the adoption of secure web gateway solutions by enterprises to avoid cyberattacks will drive the growth of the market during the forecast period.
The rising adoption of cloud-based security technologies will fuel the global secure web gateway market growth. Cloud-based services are adopted for purposes such as authentication, video management systems, and storing biometric information. As banks and hospitals store large volumes of confidential data in the cloud, it is important to secure the data from unauthorized access. The adoption of cloud-based services is increasing among SMEs because it does not require physical infrastructure to support their implementation and is cost-effective. The flexibility and scalability of cloud-based secure web gateway solutions accommodate the varying needs of consumers, which is a reason for their increased adoption.
With the increased employee mobility, several organizations have implemented cloud-based services for business functions, such as CRM, payroll, and enterprise communication, to ensure remote access to data. The need to protect the information stored in the cloud is increasing, which is leading to a greater demand for security solutions. Governments worldwide are implementing stringent regulations to enforce data security among banking and healthcare organizations. Thus, the rising adoption of cloud-based services and growing cloud data-related security concerns are expected to lead to the increased adoption of secure web gateways.
The low acceptance of SWG solutions in the enterprise segment is a major challenge to market growth. Many business organizations prefer cloud-based solutions to on-premises solutions because of their cost-effectiveness and ease of accessibility. Hence, cost-effective cloud deployment with better features and agility is the best option for such organizations. The cloud has become an integral part of IT in government healthcare agencies. For instance, federal, state, and local government agencies have moved their sensitive data to the cloud as it provides improved information management along with centralized data storage and high-speed networks, enabling increased productivity and enhanced data sharing and collaboration.
The benefits of cloud-based solutions include low upfront costs, simplified management of software maintenance and upgrades, effective security, high reliability, and integrative capabilities to connect functional gaps in existing systems and processes. Thus, the implementation of a secure web gateway and the data stored in the cloud are likely to be leaked, which, in turn, hampers the growth of the market.
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
A10 Networks Inc.- The company offers a secure web gateway namely, Thunder Convergent Firewall. Also, they provide computer networking products and security solutions such as controllers, firewalls, hardware appliances, protection systems, and other networking products.
The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the BFSI segment will be significant during the forecast period. The market in the BFSI sector is expected to grow due to the increasing demand for data confidentiality. The rise in online transactions increases the vulnerability of critical data to theft, phishing, and other online threats. As the threat level is increasing, the BFSI sector is rapidly responding to these critical threats by enhancing its internal security by adopting secure web gateway solutions. With advancements in technology, the use of mobile devices for mobile banking is increasing among end-users. Therefore, the growing adoption of mobile devices and mobile banking among end-users has increased the need for a secure web gateway. Thus, BFSI organizations are increasing their cyber security investments to maintain the confidentiality of data.
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The BFSI segment showed a gradual increase in market share with USD 890.35 million in 2017. Considerable growth in the adoption of online payments in India, with the total digital payment market in the country likely to grow at a double-digit rate, has highlighted the need for strengthening and bolstering financial cyber security. In 2019, the breach at the State Bank of India, India's largest bank, exposed the data of more than 400 million of its customers, including their bank account numbers and bank balance details. BFSI organizations employ robust cyber security measures to prevent cyberattacks. However, with the growth of the fintech sector, the complexity of cyber threats has been increasing, particularly during the COVID-19 pandemic. Moreover, the large-scale shift toward working from home is exposing workers to critical cybersecurity vulnerabilities, thus resulting in an increase in the demand for secure web gateways. Such factors will lead to the growth of the BFSI segment during the forecast period.
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North America is projected to contribute 31% of market growth by 2027. Technavio’s analysts have elaborately explained the regional market trends and drivers that shape the market during the forecast period. The secure web gateway market in North America is expected to grow steadily during the forecast period. The key market in North America is the US. A few important factors contributing to the market growth in North America are the increased adoption of secure web gateway solutions by end-user industries, the shift from conventional IT services to Internet-based IT systems, the growth of end-user industries, increased government initiatives for the implementation of secure web gateways, and the growing number of IT companies and IT startups. Although the maturity of the economic condition in the US is expected to hamper market growth during the forecast period, several government initiatives and regulations on the use of cyber security solutions are expected to fuel the demand for secure web gateway solutions in North America.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Million" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.
Cloud Encryption Software Market: Cloud Encryption Software Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, UK, Germany, Japan - Size and Forecast
Managed Security Services (MSS) Market: Managed Security Services (MSS) Market - North America, Europe, EMEA, APAC : US, Canada, China, Germany, UK - Forecast
Banking, Financial Services and Insurance (BFSI) Security Market: Banking, Financial Services and Insurance (BFSI) Security Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, Canada, China, UK, Germany - Size and Forecast
The market is crucial in combating the growing threats posed by web-based threats and browser-based attacks. With the proliferation of malicious links and malicious code, organizations seek comprehensive solutions to safeguard their personal data and company data. Secure Web Gateway solutions offer end-to-end holistic security, encompassing URL filtering, data leak prevention, and real-time detection of malware and suspicious traffic. Utilizing secure web technology and cloud infrastructure, these gateways provide granular use controls and application-level control to mitigate risks. As cybersecurity incidents and online frauds continue to rise, Secure Web Gateways play a pivotal role in providing enhanced network protection for financial sectors and large enterprises, ensuring a secure online environment for businesses and users alike.
Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 21.52% |
Market growth 2023-2027 |
USD 11.71 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
20.43 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 31% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
A10 Networks Inc., Barracuda Networks Inc., Cato Networks Ltd., Check Point Software Technologies Ltd., Cisco Systems Inc., Comodo Security Solutions Inc., Contentkeeper Technologies, Cyren Ltd., F5 Networks Inc., Forcepoint LLC, McAfee Corp., Menlo Security Inc., Netskope Inc., NortonLifeLock Inc., Sangfor Technologies Inc., Sophos Ltd., Trend Micro Inc., Zscaler Inc., Citrix Systems Inc., and Open Text Corp. |
Market dynamics |
Parent market analysis, Market Forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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