Security Service Edge Market - By Component (Solution, Services), By Organization Size (Large Organization, SME’s), By End-user (BFSI, IT & Telecom, Retail & E-commerce, Healthcare, Government, Manufacturing), Forecast, 2024 – 2032

Security Service Edge Market - By Component (Solution, Services), By Organization Size (Large Organization, SME’s), By End-user (BFSI, IT & Telecom, Retail & E-commerce, Healthcare, Government, Manufacturing), Forecast, 2024 – 2032

Security Service Edge Market Size

Security Service Edge Market size was valued at USD 903.8 million in 2023 and is estimated to register a CAGR of over 23.5% between 2024 and 2032. The market growth is attributed to the rising threat landscape.

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The evolving and sophisticated nature of cyber threats is driving the need for advanced security solutions, including those provided by SSE. In the year 2022, IT Governance identified a total of 1,063 security incidents, resulting in the compromise of 480,014,323 records. The predominant type of security incident throughout the year was cyber-attacks, constituting 57% of all publicly disclosed incidents, with a total of 611 instances.

With an increasing number of cyberattacks targeting organizations, there is a growing awareness of the importance of implementing robust security measures at the edge to detect and prevent threats before they reach critical assets. SSE solutions often incorporate advanced threat detection and response capabilities, contributing to a more proactive and effective security posture, thus favoring market growth dynamics.

Remote work and cloud adoption will help shape the SSE market outlook through 2032. The increasing trend of remote work and the widespread adoption of cloud services are major drivers for the Security Service Edge market.  As per WFH Research, the current landscape shows that 12.7% of full-time employees are engaged in remote work, indicating the swift integration of telecommuting into the standard work environment. Concurrently, a substantial 28.2% of employees have embraced a hybrid work approach. This hybrid model seamlessly blends remote and in-office work, providing a balance of flexibility and maintaining a tangible presence in the traditional workplace.  

As more organizations moved their applications and data to the cloud, the need for security solutions that could protect users and data outside the traditional corporate network perimeter became crucial. SSE solutions help secure access to cloud resources and applications from any location, providing a more flexible and secure approach to remote work.
 

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However, data privacy and compliance concerns pose significant challenges for the SSE market. As organizations increasingly processed and stored sensitive data at the edge, there were growing worries about ensuring compliance with regulations and protecting user privacy. Meeting the requirements of different data protection laws and industry regulations while deploying SSE solutions could be demanding, particularly in highly regulated sectors such as finance and healthcare.

Security Service Edge Market Trends

Anticipated growth in the integration of AI and ML technologies within SSE solutions is expected. These technologies can enhance threat detection, automate responses to security incidents, and provide predictive analytics to identify potential risks. By leveraging AI and ML, SSE platforms may become more adaptive and capable of addressing emerging cyber threats in real-time.  Against this backdrop, in June 2023, Cisco (CSCO), a forefront player in enterprise networking and security, is fulfilling its commitment to the AI-driven Cisco Security Cloud, aiming to streamline cybersecurity and enable optimal productivity regardless of the escalating threat landscape or remote work scenarios.
This investment underscores Cisco's strategic focus on staying at the forefront of innovation in the ever-evolving field of cybersecurity. More efforts in this direction will help strengthen the market forecast.

Security Service Edge Market Analysis

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Based on component, the market is divided into solution and service. The solution segment accounted for around 60% of the market share in 2023 and is anticipated to experience substantial growth over the forecast period. The increasing adoption of Security Service Edge (SSE) solutions, encompassing technologies like FWaaS (Firewall as a Service), ZTNA (Zero Trust Network Access), SWG (Secure Web Gateways), CASB (Cloud Access Security Broker), and others, is propelled by the imperative to fortify cybersecurity in dynamic digital landscapes.

Organizations are drawn to the seamless protection SSE offers against evolving threats, ensuring secure access to applications and data from any location. The flexibility, scalability, and centralized management of security policies provided by SSE solutions align with the demands of modern, dispersed work environments, fostering their widespread adoption across diverse industries.

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Based organization size, the security service edge market is categorized into large organization and SME’s. The large organization segment accounted for a market share of around 65% in 2023 and is poised for significant growth over the forecast period. Large enterprises are increasingly turning to Security Service Edge (SSE) solutions and services to fortify their cybersecurity postures. The scalability and adaptability of SSE caters to the complex and expansive digital infrastructures of large enterprises. Offering comprehensive protection against evolving threats, SSE ensures secure remote access and data transmission.

With centralized management, these solutions provide efficient control over security policies, a critical factor in navigating the sophisticated threat landscape. As large enterprises prioritize robust cybersecurity measures, SSE emerges as a vital component, meeting the demands of their intricate IT ecosystems and diverse workforce needs.

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Noth America is experiencing growth in the security service edge market. The region accounted for a market share of over 35% in 2023 and is slated to register significant growth over the forecast period. The region's proactive approach toward cybersecurity, coupled with a high level of digitalization, has fueled the demand for advanced security solutions. As organizations increasingly adopt remote and hybrid work models, SSE's ability to secure edge environments becomes crucial.

Moreover, the region's well-established technological infrastructure and a robust ecosystem of cybersecurity providers contribute to the growth of SSE services. The emphasis on data privacy and compliance further propels the adoption of SSE solutions, making North America a key hub for the flourishing SSE industry.

Security Service Edge Market Share

Zscaler and Palo Alto Networks dominate the security service edge industry. Leading players in the SSE industry are strengthening their presence through strategic measures such as investing in advanced technologies like AI and ML, enhancing integration capabilities, and focusing on scalable solutions to address evolving cybersecurity challenges and cater to diverse organizational needs.

Market players are expanding their business presence by entering new geographic regions. Establishing a global footprint allows them to cater to the security needs of multinational corporations. Additionally, forming strategic partnerships with other technology vendors, cloud service providers, or industry-specific organizations helps create synergies and enhances market reach.

Security Service Edge Market Comapnies

Major players operating in the security service edge industry are

• Zscaler
• Palo Alto Networks
• Cisco Systems, Inc
• Netskope
• Forcepoint
• Skyhigh Security
• Lookout, Inc.
• Broadcom Inc.
• Cloudflare
• Iboss

Security Service Edge Industry News

• In July 2023, Netskope, unveiled a fresh collaboration with Wipro Limited. This partnership aims to provide resilient cloud-native Managed Secure Access Service Edge (SASE) and Managed Zero Trust Network Access (ZTNA) services to Wipro's vast global enterprise client base.

The security service edge market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments

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By Component, 2018 – 2032

• Solution
  • Secure Web Gateways (SWG)
  • Firewall-as-a-Service (FWaaS)
  • Zero Trust Network Access (ZTNA)
  • Cloud Access Security Broker (CASB)
  • Others
• Services
  • Professional services
  • Managed services

By Organization Size, 2018 – 2032

• Large Organization
• SME's

By End-user, 2018 – 2032

• BFSI
• IT & Telecom
• Retail & E-commerce
• Healthcare
• Government
• Manufacturing
• Others

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Southeast Asia
  • ANZ 
• Latin America
  • Brazil
  • Mexico
  • Argentina 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa

Frequently Asked Questions (FAQ)

What is the size of security service edge market?

The security service edge industry was valued at USD 903.8 million in 2023 and is estimated to register a CAGR of over 23.5% between 2024 and 2032, owing to the evolving and sophisticated nature of cyber threats

Why is the solution segment witnessing high demand in the security service edge industry?

The solution segment accounted for around 60% market share in 2023, driven by the increasing adoption of Security Service Edge (SSE) solutions, encompassing technologies such as FWaaS (Firewall as a Service), ZTNA (Zero Trust Network Access), SWG (Secure Web Gateways), CASB (Cloud Access Security Broker), and others.

What is the size of North America security service edge industry?

North America security service edge market accounted for a revenue share of over 35% in 2023, attributed to the proactive approach toward cybersecurity, coupled with a high level of digitalization.

Who are the major players in security service edge industry?

Zscaler, Palo Alto Networks, Cisco Systems, Inc, Netskope, Forcepoint, Skyhigh Security, Lookout, Inc., Broadcom Inc., Cloudflare and Iboss.