Future Market Insights Projects 21% CAGR for Secure Web Gateway Market through 2029; Cloud Based Services Gaining Prominence
Rising dependency on the internet and numerous incidences of cyber-attacks and malware have become major contributors towards growth of secure web gateway market, supported by SMEs.
DUBAI, UAE / ACCESSWIRE / March 9, 2020 / Global secure web gateway market is set for exponential growth at 21% CAGR during the forecast period (2019-2029), as projected by a new report of Future Market Insights (FMI). Major market players are investing internet access products, with increased focus on customer services to keep up with the competition.
“Rising procurement of secure web gateway solutions by SMEs in developing countries is boosting revenue. Vendors focus on low-cost solutions to enhance their market share in the global market,” states the FMI report.
Secure Web Gateway Market: Key Findings
- As compared to services, secure web gateways account for 2/3rd share of the global market.
- The cloud based secure web gateway services continue to be a major market influencer.
- Market vendors will display greater inclination towards malware defense, URL filtering, and tunneling options.
- Western Europe remains at the forefront of the secure web gateway market, while Latin America is projected to surpass North America in terms of growth rate.
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Secure Web Gateway Market: Key Driving Factors
- Rising adoption rates of software-as-a-service applications is a key driver for the secure web gateway market.
- End users are increasingly re-planning WANs to direct traffic through local internet breakout connections thereby generating profitable opportunities.
- Businesses are increasingly procuring cloud integrated security stacks, which is driving growth.
- The rising adoption of mobile and web applications in the banking sector is a major driver for global demand for secure web gateway.
Secure Web Gateway Market - Key Restraints
- Rising threats such as the enhanced use of social media platforms and complexities in viruses can hamper market growth.
- Fears over the use of cyber-attacks from internet usage will limit the growth of the secure web gateway industry.
Competition Landscape of Secure web gateway Market
Some of the key players in the global secure web gateway landscape that are covered in this study include, but are not limited to, Microsoft Corporation, Forcepoint, Check Point Software Technologies Ltd., Symantec Corporation, F5 Networks, Symantec Corporation, Juniper Networks Inc., Sophos Group Plc., WatchGuard Technologies Inc., IBM Corporation, iBoss Network Security, and Cisco Systems Inc., and others. Leading vendors are focused on appealing to the demands of small and medium enterprises, with focus on cutting costs and boosting productivity. Vendors are also investing in protection for off grid workers, real time traffic inspections, data leak prevention, and time and content based access, to propel growth.
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More about the Report
This Future Market Insights study of 300 pages offers actionable insights on the secure web gateway market. The market analysis is based on component type (solutions, services, and managed services), deployment (cloud and on-premise), enterprise size (SMEs and large enterprises), and industry (BFSI, government and defense, healthcare, IT and telecom, retail & e-commerce, energy and utilities, manufacturing and others) across seven regions (Latin America, North America, Europe, South Asia, East Asia, Oceania, and MEA).
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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