SASE Market

The global Secure Access Service Edge (SASE) Market size is projected to grow from USD 1.9 billion in 2023 to USD 5.9 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 25.0% during the forecast period

The growing demand for secure access to data and networks will drive the market. Also, digital transformation, cloud-native, and edge computing will also drive the SASE market.

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SASE Market Dynamics

Driver: Mandate to follow regulatory and data protection laws

Over the years, sophisticated cyber-attacks have massively hit organizations, leading to huge financial losses. Today, organizations continuously seek to deploy advanced security solutions to combat such disruptive attacks. With the deployment of advanced security solutions, compliance with the existing government data protection laws is also mandatory. Data protection directives play an essential role in addressing the rising concerns over an enterprise’s data privacy. The constantly changing threat landscape has given rise to many government regulations globally, which enterprises across the globe need to strictly adhere to.

The various regulatory compliances include Payment Card Industry Data Security Standard (PCI DSS), HIPAA, FISMA, Federal Trade Commission (FTC), Gramm-Leach-Bliley Act (GLBA), EU Agency for Network and Information Security (ENISA), GDPR, Homeland Security Act. Enterprises are moving toward adopting cloud-based security services to ensure that necessary cybersecurity processes and controls are in place across verticals and meet the guidelines and standards issued by regulatory bodies. Hence, the security as a service market is growing due to the need for organizations to adhere to the changing regulatory landscape.

Restraints: Lack of awareness  among enterprises about cloud resources and SASE architecture

As many organizations are migrating towards cloud they are unaware of the number of cloud resources running and the process of configuring them.  Organizations still lack key identity-related security controls.  Lack of visibility  can cause misconfigurations that go undetected for long period,  which can make it harder to secure cloud applications. Furthermore, organizations migrating a part of their IT infrastructure to public clouds face the inappropriate  implementation of security architecture to withstand cyberattacks. Lack of understanding about the shared security responsibility model also contributes toward cyber breaches. As in current scenario, cloud environments have become large and complex for many enterprises, ultimately creating the need for automation . Thus, lack of awareness among many enterprises toward the benefit of SASE architecture, and strategy acts as a restraint for the SASE market.

Opportunity: Increase in adoption of cloud-based services.

In order to attain business efficiency, organisations are constantly updating their business models. SMEs across industries lack robust security procedures to protect their data, networks, endpoints, and applications. They have been widely targeted by cyberattacks. SMEs lack modern cyber security solutions to address the growing threat landscape. Intelligent  cyber-attacks can easlity bypass traditional security methods. SMEs are more likely to embrace cloud-based security solutions, and cloud-based security service providers may capitalise on this potential by providing custom-based security services to organizations.

Challenge: Lack of awareness among enterprises about advantages of SASE solutions

Dto the increasing complexity of cloud computing solutions, detecting zero-day (unknown) threats in the cloud infrastructure has become difficult. Many cloud users are still not aware of the advantages of leveraging SASE solutions. SASE addresses the cloud risks by helping cloud users with secure and automatically remediated cloud configurations. Relying on SASE solutions to manage the entire cloud portfolio, compliance violations, cloud risks, and misconfigurations in an organization’s cloud infrastructure could help overcome barriers to deploying SASE in the future.

SASE Market Ecosystem

Based on offering, security as a service  segment to have the highest growth rate during  the forecast period

Security as a service is a security management approach that enables the provisioning of security solutions and services from the cloud. The security services are integrated with the enterprise infrastructure, safeguarding enterprises’ essential assets from external and internal threats. The key growth drivers of the SASE market are mandates to follow regulatory and data protection laws, increased demand for cloud-based security solutions among SMEs, and high cost and risks in managing on-premises security solutions

Based on Vertical, BFSI segment to hold the highest market share during  the forecast period

There is an increasing need for cybersecurity solutions and services in the BFSI vertical to fight against the growing number of physical and cyberattacks on critical infrastructures taking place due to the rapid adoption of IoT and BYOD, work-from-home opportunities, and other enterprise mobility trends. The emerging trend of cloud banking also leads to the need for securing confidential businesses and financial data in real time. Security consultants analyze IT ecosystems and business processes in organizations and suggest effective security policies to mitigate potential cyber risks and maintain a secure environment.

North America to account for the highest market share during the forecast period

The presence of leading SASE solution providers that have established themselves globally is a major factor leading to the rapid growth of the SASE market in North America. The other factors such governments taking efforts to  strengthen the cybersecurity and resiliency of critical infrastructure and technologies will drive the market.

Key Market Players

This research study outlines the market potential, market dynamics, and major vendors operating in the SASE market. Key and innovative vendors in the the SASE market include Cisco (US), VMware (US), Fortinet (US), Palo Alto Networks (US), Akamai (US), Zscaler (US), Cloudfare (US), Forcepoint (US), Check Point (US), Netskope (US), Mcafee (US), Citrix (US), Proofpoint (US), Aruba Networks (US), Juniper Networks (US), Verizon (US), SonicWall (US), Barracuda Networks, (US) Broadcom (US),  Perimeter 81 (Israel), Open Systems (Switzerland), Aryaka (US), Twingate (US), Claro Enterprise Solutions (US), NordLayer, (US) Exium (US), Cato Networks (Israel), Versa Networks (US)

The study includes an in-depth competitive analysis of these key players in the SASE market with their company profiles, recent developments, and key market strategies.

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Scope of the Report

This research report categorizes the SASE market to forecast revenue and analyze trends in each of the following submarkets:

Based  Offering:

• Network as a Service
• Security as a Service

Based on Organization Size:

• Large Enterprises
• SMEs

Based on Vertical:

• Government
• BFSI
• Retail and eCommerce
• IT and ITeS
• Other Verticals

Based on Regions:

• North America
• Europe
• Asia Pacific
• RoW

Recent Developments:

• In February 2023, Zscaler launched Zscaler Resilience, incorporating a new set of capabilities that extend the resilience of Zscaler’s architecture and operations and maintain interconnections between users and devices to critical cloud-based applications.
• In October 2022, VMware SD-WAN Release 4.3.0 Orchestrators, Gateways, and Hub Edges: supports all previous VMware SD-WAN Edge versions greater than or equal to Release 3.2.0.
• In June 2022, Telefónica Tech and Cisco collaborated on SD-WAN, security, and SASE solutions. This new service provides a comprehensive connectivity and safety package to link firms across data centers, local branches, and distant worker locations. It was supposed to meet the demands of both major start-ups and local businesses.
• In March 2022, Palo Alto Networks teamed up with Amazon Web Services (AWS) to unveil the new Palo Alto Networks Cloud NGFW for AWS — a managed Next-Generation Firewall (NGFW) service designed to simplify securing AWS deployments — enabling organizations to speed their pace of innovation while remaining highly secure.

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