Secure Access Services Edge Market Expected to Reach $12.1 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Secure Access Services Edge Market, By Offering (Network As A Service, Security As A Service), By Organization SIze (Large Enterprises, SMEs), By Application (Government, BFSI, Retail And ECommerce, IT And ITeS, Others): Global Opportunity Analysis And Industry Forecast, 2023-2032". The secure access services edge market size was valued at $1.5 billion in 2022, and is estimated to reach $12.1 billion by 2032, growing at a CAGR of 23.6% from 2023 to 2032.

The global secure access services edge industry is experiencing significant growth due to factors such as rise in awareness about security solutions among several sectors and an increase in integration of advanced technologies. Importantly, a central trend shaping this domain is the ongoing advancement of intricate secure access services edge market forecast meticulously crafted to cater to the surging demand from major enterprises aiming to bolster their cloud infrastructure. Concurrently, the surge in the favorability of managed services for supervising outsourced IT infrastructure emerges as another influential trend propelling the enlargement of the secure access services edge industry. 

Numerous growth factors underscore the resilient trajectory of the secure access services edge market analysis. A prime factor among them is the escalating frequency and sophistication of cyberattacks, compelling organizations to prioritize all-encompassing secure access services edge strategies. Furthermore, there is an intensifying imperative to fortify critical infrastructure, heightening the demand for cutting-edge secure access services edge solutions. The inescapable reception and joining of computerized advancements also add to the market's development, as associations attempt to fortify their safeguards against advancing dangers inside the advanced scene. 

By organization size, the large enterprises segment is expected to witness the highest growth rate during the forecast period. The increase in demand for secure access services edge solutions and services in the large enterprises can be attributed to the growth of global market in these enterprises. However, SMEs are projected to be the fastest-growing segment during the forecast period, owing to the cost-effective security services provided by secure access services edge solutions. 

On the basis of region, North America attained the highest growth in 2022. The presence of prominent players has influenced the growth of the secure access services edge market in North America. Moreover, the rise in government initiatives to strengthen security infrastructure across the region is further expected to drive the demand for secure access services edge solutions.  However, MEA is projected to be the fastest-growing segment during the forecast period, owing to the availability of cost-effective digital solutions and the rise in the amount of data generation across organizations. In addition, the proliferation of advanced technologies escalates system safety and reduces delays in database operations. 

Secure access services edge solution suppliers have a unique opportunity as a result of the COVID-19 pandemic. The increasing adoption of digital operations and remote labor by enterprises has led to a boom in cyber dangers due to the increased possibilities for assaults. The expanded cognizance of online protection dangers and weaknesses has offered providers an extraordinary chance to feature the significance of their contributions. Secure access services edge has arisen as a crucial device in the battle against pandemic-related cyberattacks, including phishing plans that utilize Coronavirus subjects and ransomware that objectives far off specialists. By exhibiting their skill in secure access services edge, examination, and relief, suppliers have set up a good foundation for themselves as fundamental partners in shielding organizations during this emergency. The rise in the trend of cloud computing in several industries including the cybersecurity industry is anticipated to create numerous opportunities for market growth as cloud-based cybersecurity solutions offer scalability, flexibility, and accessibility, that enhance business operations.   

KEY FINDINGS OF THE STUDY 

• By offering, the security as a service segment accounted for the largest secure access services edge market share in 2022. 

• By organization size, the large enterprises segment accounted for the largest secure access services edge market share in 2022. 

• By application, the BFSI segment accounted for the largest secure access services edge market share in 2022. 

• Region wise, North America generated the highest revenue in 2022. 

The market players operating in the secure access services edge market are McAfee, Netskope, Palo, Alto Networks, Cato Networks, VMware, Check Point Software Technologies, Fortinet, Cisco Systems, Inc., Zscaler and Versa Networks. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the secure access services edge market globally.