The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UK, July 10, 2024 /EINPresswire.com/ -- The global security service edge (SSE) market, a cloud-based delivery model for network security services, is experiencing robust growth, driven by advancements in digital transformation, remote work trends, and escalating cyber threats. SSE integrates critical security features such as secure web gateways (SWG), zero-trust network access (ZTNA), cloud access security brokers (CASB), and firewall-as-a-service (FWaaS), offering comprehensive cloud-based security solutions.

Market Size and Growth Drivers
The SSE market size is poised to grow from $0.77 billion in 2023 to $0.98 billion in 2024, reflecting a compound annual growth rate (CAGR) of 27.7%. This growth trajectory is attributed to factors like regulatory compliance demands, increasing cyber threats, and the adoption of bring your own device (BYOD) policies.

In the forecast period, the SSE market is expected to accelerate significantly, reaching $2.38 billion by 2028 at a CAGR of 24.9%. Key growth drivers include the rise of advanced cyber threats, proliferation of IoT devices, integration with DevOps practices, adoption of zero-trust security models, and a shift towards secure access service edge (SASE) architectures.

Emergence of Advanced Threats Fuels Market Expansion
The escalating frequency and sophistication of cyber threats globally are pivotal in driving the demand for SSE solutions. Cyber threats encompass malicious activities exploiting vulnerabilities in computer systems and networks, necessitating robust cybersecurity measures. SSE addresses these challenges by offering comprehensive security solutions that secure network connections, enforce access controls, protect cloud resources, and enhance threat detection and response capabilities.

For instance, in 2022, the Australian Cyber Security Centre reported a significant increase in cybercrime incidents, highlighting the critical need for enhanced cybersecurity measures to mitigate risks effectively.

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Security Service Edge Market Key Players and Market Trends
Leading companies in the SSE market, including Microsoft Corporation, IBM, Cisco Systems Inc., and Palo Alto Networks Inc., are focusing on innovative security solutions to cater to evolving cybersecurity needs. These solutions include consulting services tailored to SSE implementations, aimed at enhancing cybersecurity controls and incident response capabilities.

In January 2024, Kyndryl Holdings, Inc., in collaboration with Cisco Systems Inc., introduced Kyndryl Consult Security Services Edge and Kyndryl Managed SSE. These services enable enterprises to establish robust security frameworks aligned with secure access service edge (SASE) principles, integrate zero-trust networks, and support hybrid work environments.

Major Trends in the SSE Market
Key trends shaping the SSE market include the convergence of network security and wide area networking (WAN), increased adoption of zero-trust architectures, enhanced visibility into user and device activities, and the integration of artificial intelligence (AI) and machine learning (ML) for advanced threat detection and response.

Security Service Edge Market Segmentation
The SSE market is segmented based on:
• Type: Cloud-Based, Web-Based
• Component: Solution, Services
• End-Use: Banking, Financial Services, and Insurance (BFSI), Healthcare and Life Sciences, Education, Information Technology and Telecommunications (IT & Telecom), Government, Retail and E-commerce, Manufacturing, and Other End Users

Geographical Insights
North America dominated the SSE market in 2023, driven by high adoption rates of advanced cybersecurity technologies. Asia-Pacific is projected to emerge as the fastest-growing region, fueled by increasing digitalization efforts and stringent regulatory requirements.

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Security Service Edge Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Security Service Edge Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on security service edge market size, security service edge market drivers and trends, security service edge market major players, competitors' revenues, market positioning, and market growth across geographies. The security service edge market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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