Unified Threat Management Market Size, Share & Industry Analysis, By Component (Hardware, Software, Virtual), By Service (Consulting, Managed UTM, Support & Maintenance), By Deployment (Cloud, On-Premise), By End User (Banking, Financial Services and Insurance, Healthcare, Manufacturing) And Regional Forecast, 2024-2032

Unified threat management (UTM) is a term associated with information security. UTM is a security solution that helps in delivering various security functions by single point on network or platform. It comprises functions such as content filtering, leak prevention, intrusion prevention and detection, anti-spyware, antivirus and network firewall. UTM unit also deliver services such as virtual private network (VPN), remote routing and network address translation support.

Additionally, these solution provide various advantages including integrated approach, meeting regulatory compliance, and reduced technical training requirement. UTM is integrated with security functions that allows faster and more streamlined processing of data, and that further helps in driving the demand for UTM solutions and helps in driving the growth of the market.

The outbreak of COVID 19 has significantly impacted the unified threat management (UTM) market. As due pandemic the organizations across the globe were shut due to restrictions made by government, this resulted in low adoption of UTM solution across the globe. Also, companies adopted for work from home initiatives that further hindered the unified threat management (UTM) market across the globe. Soon the market expected to see the major growth as the situation will normalize more.

Key Market Driver -

• Increase requirement of threat management solutions in organizations is anticipated to drive the growth of the market. • The adoption of cybersecurity due to increasing prevalence of cyberattacks is expected to boost the growth of the market. • These UTM solution a cost efficient and are easy to deploy and further aid to market growth

Key Market Restraint -

• The mixing up of security tools into unified network is anticipated to restrict the market growth. • Degraded performance of network is expected to hinder the market growth.

Key Players Covered:

Key players operating in unified threat management market are Huawei Technologies Co. Ltd., Untangle Inc., Juniper Networks, Inc., Sophos Ltd, Barracuda Networks, Inc., Check Point Software Technologies Ltd, SonicWasll, Fortinet, Inc., Cisco System Inc., Symantec Corporation, Sophos Group Plc, WatchGuard Technologies, Inc., International Business Machines Corporations, and Hewlett Packard Company among others.

Major companies operating in UTM market are adopting various organic and inorganic methods such as collaborations, mergers, acquisitions, and new product & solution development to enhance their market presence. For instance, in August 2018, WatchGuard Technologies, Inc., launched the Firebox M270 an UTM appliance. Quick assist technology and new Intel atom processors give the M270 significant performance, which allows M270 to run security services offered in WatchGuard’s total security suite.

Regional Analysis:  

North America is anticipated to have significant growth in unified threat management (UTM) market due to the growing cloud security infrastructure in the region. Also, the region also witness high amount of cyberattacks, which resulted in high adoption of cyber security and UTM solution across the region and further helped driving the growth of the market in the region.

Asia pacific is also expected to drive the growth of the market owing to the increasing number of SMEs in the region that are expected to accelerate the demand for UTM solutions. Also, the adoption of these UTM solution is very high in the region as they are cost efficient and can be afforded by SMEs. Further, key players are consistently upgrading their UTM solution by adding new features for meeting customer’s requirements. These factors are anticipated to drive the growth of the UTM market in the region.

Additionally, Europe is pioneer in development of UTM solution that has helped the region to have significant growth in UTM market. Also, the region has latest UTM technology such as web URL filtering, web application control (WAC), intrusion protection system (IPS) and filtering of HTTPS data that has helped in the wide adoption UTM solution by organizations across the region that further aid to the growth of the market. However, the rapid digitization in Middle East and Africa has triggered the number of cyberattacks in the region that has further increased the demand for unified threat management (UTM) solution and helps in driving the growth of the UTM market.

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Segmentation

Key Industry Developments

• June 2021 – Untangle Inc., launched the Untangle SD WAN Router version 3.1. This new features provide new capabilities such as newtwork security and threat prevention at network edge. Further, the Untagle SD WAN Router 3.1 provide advanced security features and are customer affordable.


• May 2021 – Juniper Network launched Juniper Security Director Cloud. It is a cloud based portal that provide security services and connectivity to sites, applications and users, also it helps in managing customer’s secure access service edge (SASE) transformation.


• June 2021 – Cisco Systems Inc., launched catalyst industrial routers. This new launch would help in extending the power of enterprise network to edge with security, scalability needed for IoT success and flexibility.