Secure Web Gateway Market Size, Share, Growth, Trends and Forecast 2019 to 2027

The latest market report published by Credence Research, Inc. “Global Secure Web Gateway Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the global market is worth US$ 2,647.7 Mn in 2018 and expected to grow at a CAGR of 20.1% during the forecast period from 2019 to 2027.

Market Insights

“Growing threat of cyber-attacks accelerating the need for secure web gateway”

The increasing cyber-attacks across the globe is one of the major factors which is driving the secure web gateway market, as these provide protection against online threats and leverages the working efficiency of an organization. The increasing investments by various large enterprises and companies for securing their confidential data is one of the major factors which is driving the growth of the market. Similarly, the increasing number of bringing your own device (BYOD) concept across various industries also increases the data breaches leading to drive the market. In the year 2017 November, Fortinet, a cybersecurity solution provider partnered with Amazon Web Services (AWS) for the development of virtualized security fabric applications and web security solutions portfolio.

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Based on the industry, the secure web gateway market has been segmented as IT & Telecom, BFSI, education, healthcare, government, retail, others. The BFSI is considered to hold the largest market share as the finance and bank companies have to deal with various crucial information associated with customers, staff, clients, and other individuals. Therefore to protect this sensitive information there is a high requirement of secure web gateway. Moreover, the BFSI industry faces a large number of cyber-attacks which include malware, phishing emails, and others, therefore to protect the function of the company, a secure web gateway is being adopted.

Asia-Pacific is expected to be the fastest-growing region during the forecast period due to secure web gateway market during 2018 and was expected to grow with a significant market CAGR during the forecast period due to increasing adoption of the internet across the region which is also increasing the cyber-attacks leading to drive the secure web gateway market. Similarly, the increasing malware threat and rising demand for end-to-end security suites are propelling the growth of the secure web gateway market across the region.

The overall secure web gateway market is competitive in nature and it is growing at moderate rate. The market players are adopting strategies such as launching new solutions, partnership, and agreements to stay competitive in the market. Some of the leading global players included in the reports are Juniper Networks Inc., F5 Networks Inc., Microsoft Corporation, IBM Corporation and Cisco Systems, Inc., etc. among others.

Industrial Developments

  • In February 2020, Sophos Ltd., a company working in cybersecurity, has launched “Xstream” architecture for Sophos XG firewall that has high-performance transport layer security decryption ability that significantly reduces security risks in encrypted network traffic.
  • In October 2018, Forcepoint announced that it has opened the Centre of Excellence in Bengaluru, India. This new facility is providing support service to the complex cybersecurity challenges that are helping the businesses in their growth and digital transformation.

Key Market Movements:

  • Based on component, software solutions segment captured the major share of the market.
  • Based on business vertical, BFSI segment expected to capture the major share during the forecast period, owing to growing number of banks, financial services and insurance companies across the world.
  • Based on region, North America was the largest region of global secure web gateway market in 2018. Subsequently, it is estimated that the same region to grow at the fastest rate during the forecast period.

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List of Companies Covered:

  • Juniper Networks Inc.
  • F5 Networks, Inc.
  • Check Point Software Technologies Ltd.
  • Microsoft Corporation
  • Forcepoint
  • Symantec Corporation
  • Sophos Ltd.
  • IBM Corporation
  • Cisco Systems, Inc.
  • iBoss Network Security
  • WatchGaurd Technologies Inc.
  • And others

Market Segmentation:

By Component Segment

• Solutions

o Threat Protection

o Access Control

o Data Protection

• Services

o Professional Services

o Training & Education

o Consulting

By Deployment Segment

• On-premise

• Cloud-based

By Enterprise Size Segment

• Large Enterprises

• SMEs

By Business Vertical Segment

• BFSI

• IT & Telecom

• Healthcare

• Retail & e-Commerce

• Government & Defense

• Energy & Utilities

• Manufacturing

• Others (Travel & Hospitality,Transportation & Logistics,Media & Entertainment,etc.)

By Geography Segment Type

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

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