Cybersecurity Mesh Market Analysis

Cybersecurity Mesh Market Analysis

The cybersecurity mesh market from solution segment is expected to expand at 18% CAGR through 2032, as cybersecurity mesh solutions include an ecosystem of security technologies to protect a distributed company. These solutions supplement supportive layers for essential security abilities. They incorporate composable, distributed security technologies by integrating the data & control plane and forming collaborations among devices. They offer unified protection for the entire IT infrastructure involving cloud, networks, mobile, endpoints, and IoT devices.

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The cybersecurity mesh market from large enterprise segment will exceed USD 2.5 billion by 2032, due to increased spending on IT infrastructure by large enterprises. These enterprises possess several servers, networks, endpoint devices, and storage equipment, which puts them at a high risk of suffering significant financial losses due to cyberattacks. As several firms are adopting hybrid working models, anonymous networks and the usage of personal devices pose a huge security risk to large enterprises, which is expected to propel the market demand.

The cybersecurity mesh market from banking segment is slated to observe around 20% CAGR from 2022 and 2032, owing to the rising number of data breach incidents in banks and other institutions. The rapid adoption of cybersecurity mesh solutions in banks can be attributed to the confidentiality of financial data. Due to the high frequency of inter-organizational money transfers, banks and other financial institutions are prone to cyberattacks. The banking sector is increasingly adopting these solutions to comply with stringent regulations and security standards

The North America cybersecurity mesh market is set to surpass USD 1.8 billion by 2032, attributed to the rising digitization in the region in recent years. The increasing adoption of technologies, such as IoT, cloud-based applications, and digital payments, has complicated business operations and raised concerns, making this region more susceptible to cyberattacks. Organizations now face higher risks of cyberattacks owing to the region's increasing digitalization. Governments in the region are emphasizing the implementation of regulations for data privacy, accelerating the adoption of cybersecurity mesh.