Northbrook, IL 60062 -- (SBWIRE) -- 11/21/2023 -- The global Security Service Edge Market size is expected to reach USD 2.8 billion by 2028 from USD 0.8 billion in 2023, at a CAGR of 25.4 % during 2023–2028, according to research report by MarketsandMarkets™.

The adoption of SSE has experienced a remarkable surge in recent years, driven by integration of a cloud access security broker (CASB) into an organization's security framework. This integration plays a pivotal role in addressing the challenges brought about by the widespread adoption of Software as a Service (SaaS) applications, often referred to as the "SaaS explosion".

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202 - Tables
43 - Figures
243 – Pages

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CASBs are purpose-built to provide organizations with the necessary tools to monitor, control, and secure data in the cloud. They offer visibility, data protection, and compliance enforcement for cloud-based applications, which is crucial in a landscape where data resides both on-premises and in the cloud.

By integrating CASBs with SSE or Secure Access Service Edge (SASE) solutions, organizations create a holistic security ecosystem. This comprehensive approach extends uniform security policies and controls across the entire network, encompassing remote work scenarios and cloud resources. CASBs excel in safeguarding data, offering features like data loss prevention (DLP), encryption, and threat detection. Moreover, they ensure compliance with industry regulations, enabling organizations to navigate complex data privacy and security requirements. CASBs also provide real-time visibility into cloud application usage, enabling proactive security measures based on user behavior and context. As the SaaS landscape continues to evolve, CASBs remain adaptable, accommodating new services and threats to maintain the security and compliance of organizations in the dynamic digital environment.

The Cloud Access Security Broker (CASB) registers the second highest market size in the SSE market during the forecast period.

Cloud Access Security Brokers (CASBs) are vital security solutions that help organizations manage and safeguard their data as it traverses multiple SaaS applications and cloud environments, whether within their on-premises data centers or accessed by mobile workers. CASBs serve as intermediaries between an organization's security policies and the cloud resources, ensuring that authorized users can securely access and consume these resources while consistently enforcing security, governance, and compliance measures. There are two primary types of CASBs available: traditional CASBs and integrated CASBs.

The BFSI segment is projected to register highest CAGR during the forecast period.

The BFSI industry deals with sensitive financial data and customer information and demands rigorous security measures to safeguard against data breaches and cyber threats. In this context, financial institutions and insurance companies must implement robust SSE solutions encompassing secure access controls, encrypted communications, and continuous monitoring.

With the ever-increasing reliance on digital platforms for financial transactions and customer services, SSE ensures the protection of sensitive financial data and maintains compliance with stringent industry regulations. It enables secure online banking, safeguards against cyber threats such as fraud and data breaches and ensures the continuity of essential services. Moreover, SSE supports the secure remote access of financial professionals and the seamless integration of new fintech applications, bolstering the industry's agility and competitive edge. As cybersecurity remains a paramount concern in the BFSI sector, SSE provides a robust defense against evolving threats while facilitating the delivery of secure and efficient financial services to customers.

Based on region, Asia Pacific is projected to register the highest CAGR during the forecast period.

APAC countries are highly concerned about the increase in security spending due to the ever-growing threat landscape. The region comprises emerging economies, such as China, Japan, and India. With effective government regulations and technological advancements, SSE is witnessing high growth opportunities in this region. The Asia Pacific SSE market is experiencing substantial growth, primarily driven by the increasing acceptance of remote work, cloud adoption, and the imperative for enhanced security in remote work environments. The COVID-19 pandemic, which necessitated rapid remote work adoption, prompted significant investments in security control systems to protect remote employees. While the pandemic played a pivotal role in driving the SSE market, a surge in highly sophisticated cyberattacks targeting critical infrastructure and government entities has further compelled organizations in the region to bolster their investments in SSE technologies.

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Market Players

The report profiles key players such as Netskope (US), ZScaler (US), Palo Alto Networks (US), Cisco (US), Broadcom (US), Forcepoint (US), Lookout (US), iBoss (US), Skyhigh Security (US), Cloudflare (US), Trend Micro (Japan), Akamai (US), Fortinet (US), Aruba Networks (US), Citrix (US), Cato Networks (Israel), Perimeter81 (Israel), Open Systems (Switzerland), Menlo Security (US).

Key Dynamic Factors For Security Service Edge Market:

Cloud adoption and digital transformation:

The increasing popularity of cloud services and organisations' continuous efforts to undergo digital transformation are driving the need for security solutions that can safeguard data and apps on the cloud.

Trends in Remote Work:

The demand for secure access to business resources from anywhere at any time has increased due to the expansion of remote and distributed workforces, which has been hastened by global events such as the COVID-19 pandemic.

Model of Zero Trust Security:

The SSE market is being impacted by the implementation of a Zero Trust security approach, which is predicated on the idea that threats may originate from both inside and outside the network. Since SSE offers security at the network's edge, it fits in nicely with the Zero Trust tenets.

Edge-Based Computing

The security environment is being impacted by the increasing deployment of edge computing solutions, which process data closer to the data source instead of depending just on centralised cloud servers. SSE solutions support edge data and application security.

Security for the Internet of Things (IoT):

The increasing prevalence of IoT devices across diverse industries underscores the critical need for security solutions capable of mitigating the growing attack surface that these devices introduce. SSE contributes to the security of IoT environments.

Threat Landscape Evolution:

Advanced security measures are required due to the constantly changing danger landscape, which includes increasingly complex cyber threats and attacks. Real-time security and adaptability to new threats are features of SSE systems.

Competitive and Segmentation Analysis:

Due to the growing need for enhanced security solutions in the face of expanding cyber threats and digital transformation, the Security Service Edge (SSE) market is marked by fierce rivalry and a quickly changing landscape. Prominent contenders in the market for all-inclusive SSE solutions are well-known cybersecurity firms, network security providers, and up-and-coming startups. Typically, deployment technique, organisation size, and verticals are used to segment the market. Numerous suppliers focus on providing SSE solutions that are suited to the demands of particular industries, including manufacturing, healthcare, and finance.

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