Unified Threat Management Market size has experienced robust transformation over the years and is expected to garner significant momentum over 2021-2027. UTM demand is growing as securing an enterprise network against threats is a key priority among IT companies today. To mitigate the risk of such attacks and reduce the management complexity, enterprises of all sizes are implementing UTM solutions.
Unified threat management market share from the BFSI end-use sector is slated to expand substantially by 2027. Banks and financial institutes worldwide are under significant pressure to ensure that they have the most reliable and efficient security measures in place, especially in the wake of numerous high-profile cyberattacks and data breaches that have occurred in the past few years. The growing implementation of regulatory standards will certainly boost unified threat management adoption across the BFSI sector.
The telecom sector could capture a significant market share in the forthcoming years, primarily led by ongoing 5G deployment efforts. 5G rollout plans are gathering pace worldwide, offering UTM vendors with promising opportunities. For instance, in October 2020, Juniper Networks was selected by Telefonica Spain to supply security solutions for nationwide 5G rollout in Spain. Juniper’s Security Gateway solutions include UTM, application security, VPN, carrier-grade network address translation (CGNAT), and other services. The partnership will help deliver a throughput of up to 480 Gbps.
The North America unified threat management market will experience rapid growth during 2021-2027. The regional growth trends can be associated with the demand for reliable security and data leak prevention solutions across IT, telecom, BFSI, healthcare, retail, manufacturing, transport, utilities, and other areas. The presence of leading unified threat management service providers in the U.S. and Canada will positively impact the regional growth dynamics.
Avast, Fortinet, Cisco, Dell SonicWALL, McAfee, Juniper Networks, Intel, IBM Corporation, Huawei, Untangle, Aker, Trustwave, Rohde & Schwarz, Comodo, Hillstone, Check Point, Trend Micro, Barracuda Networks, Sophos, WatchGuard, Stormshield, Zyxel, and Venustech are among the top vendors in the unified threat management industry. UTM solutions providers are constantly focusing on improving their solution offerings in terms of quality and the number of features, hence keeping it updated with the latest requirements of diverse industry verticals.
Companies in unified threat management market are also adopting numerous growth and expansion strategies to expand their product offerings and market presence. These include partnerships, acquisitions, mergers, and others. In May 2021, Cisco Systems had announced plans to acquire Kenna Security, a leading developer of vulnerability management solutions.
Since the outbreak of the COVID-19 pandemic in 2020, an uptick in UTM adoption has been observed globally. With exponentially rising COVID-19 patients, hospital admissions and increased adoption of digital health services such as electronic medical records (EMR), the demand for unified threat management in healthcare has also increased. The rise in online and digital transactions globally is augmenting the need for unified threat management implementation. UTM demand has been further amplified due to higher use of IT services amid lockdown restrictions and work from home policies.
The above information has been provided for the following regions and countries: