NEWS PROVIDED BYSkyQuest Technology
Jul 11, 2024, 10:40 ET
WESTFORD, Mass., July 11, 2024 /PRNewswire/ — According to SkyQuest, the global Secure Access Service Edge (SASE) Market size was valued at USD 1.23 billion in 2022 and is poised to grow from USD 1.68 billion in 2023 to USD 20.10 billion by 2031, growing at a CAGR of 36.4% in the forecast period (2024-2031).
SDN powers dynamic networks, and SASE guarantees that these networks are designed and secured to meet changing needs. Every company uses at least one public or private cloud. At least one public cloud is used by 96% of respondents, while at least one private cloud is used by 84% of respondents. Almost 80% of the participants said they have used hybrid cloud systems. The growing preference for remote work, especially during pandemics, is a key driver for the market.
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Secure Access Service Edge (SASE) Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 1.68 billion |
| Estimated Value by 2031 | USD 20.10 billion |
| Growth Rate | Poised to grow at a CAGR of 36.4% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Components, Offering, Organization Size and Application |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Increasing Cloud Adoption is Helping Secure Access Service Edge Market |
| Key Market Drivers | Increased Use of Cloud-based Services |
Segments covered in Secure Access Service Edge (SASE) Market are as follows:
- Component
- Platform (SD-WAN, Cloud Security, Zero-trust Access Network, Secure Web Gateway), Services (Consultation, Training Services)
- Offering
- Network as a Service, Security as a Service
- Organization Size
- SMEs, and Large Enterprises
- Application
- IT & Telecom, (Secure Remote Access, Secure Cloud Access, Protection Of Sensitive Data), Healthcare (Secure Remote Access, Protection Of Patient Data, Secure Cloud Access), BFSI (Security Control And Monitoring, Secure Remote Access, Secure Mobile Access), Retail & E-commerce (Protection Of Customer Data, Secure Point Of Sale, Secure Remote Access), Government (Secure Remote Access, Secure Cloud Access, Network Segmentation), Others
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Components of the Market: Building Blocks of Secure Connectivity
The platform segment dominates the market and accounts for more than 68% of total revenue. The segment is cloud expected to continue to dominate the market during the forecast period as per the increasing demand for integrated solutions that enable users to seamlessly and securely connect and meet devices. All large enterprises planning to implement network security and redesign their network strategy are expected to take part in SASE sessions. Continued digital business transformation, increased preference for SaaS applications, and the need to control access to critical data stored in the cloud also predicted the growth of this segment.
However, the services segment is the fastest growing in the market and is expected to exhibit the fastest CAGR during the forecast period. The increase can be attributed to the increased demand for counselor training services when implementing SASE programs. The growth of the service segment can also be attributed to the fact that SASE vendors are testing a business’s existing IT infrastructure to implement the SASE strategy. Partnership managed service providers and security vendors outperform each other in providing security and networking services.
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Applications of the Market: Empowering Secure Digital Transformation
The IT & telecom segment is the largest segment in terms of usage in the market, accounting for over 18% of total revenue. IT companies continued to look for web access to integrated and secure solutions as part of their efforts to shift to cloud-based infrastructure, increase productivity and launch digital applications. At the same time telecom companies are also spending money on security measures. As their work evolves, the potential benefits of adopting most SASE systems for data migration are expected to enhance collaboration growth.
The healthcare segment is the fastest growing segment in this market and is expected to register the fastest CAGR during the forecast period. Continued innovation and the use of telehealth services and analytics to facilitate effective communication between patients and healthcare providers are expected to drive demand for the current secure web infrastructure. Factors that can enable smooth and seamless communication between providers, as well as strong patient safety, are also expected to drive demand for SASE systems in the healthcare industry.
SASE: Securing the Future of Network and Cloud Connectivity
The secure access service edge market is growing rapidly as organizations prioritize security and any problems with cloud and network resources. SASE solutions provide a comprehensive approach to secure communications through network security services integrating with wide area network (WAN) capabilities. The demand for SASE is growing due to the rise of remote work, cloud adoption and the need for scalable security. Companies are investing in advanced SASE technology.
Related Report:
Managed Security Services Market
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SOURCE SkyQuest Technology