ICT-IOT

Cybersecurity Mesh Market is Expected to Reach USD 3,447.8 Million by 2031

Apr 2024

ICT-IOT

As per the report published by Kings Research, the global Cybersecurity Mesh Market was valued at USD 1,500.0 million in 2023 and is projected to reach USD 3,447.8 million by 2031, growing at a CAGR of 11.15% from 2024 to 2031.

The emergence of AI-powered threat intelligence platforms represents a significant advancement in cybersecurity capabilities. These platforms leverage artificial intelligence and machine learning algorithms to analyze vast amounts of security data and identify patterns indicative of potential cyber threats. By automating the process of threat detection and analysis, AI-powered threat intelligence platforms enable organizations to proactively identify and respond to cyber threats in real-time, significantly enhancing their ability to defend against sophisticated attacks. These platforms can analyze diverse data sources, including network traffic, endpoint logs, and threat intelligence feeds, to provide comprehensive visibility into the organization's security posture and detect anomalies that may indicate malicious activity.

Moreover, cybersecurity mesh, intertwined with AI-powered threat intelligence platforms fortifies business against evolving digital threats. By integrating AI into threat intelligence, businesses are proactively identify, analyze, and respond to malicious activities with unprecedented speed and accuracy. This synergy creates a dynamic network where security mechanisms adapt in real-time, bolstering resilience across interconnected systems and devices. Through continuous monitoring and analysis, AI-driven threat intelligence enhances visibility into potential vulnerabilities, empowering organizations to preemptively thwart cyberattacks. This holistic approach fosters a robust security posture, mitigating risks and safeguarding sensitive data, ultimately ensuring business continuity and preserving customer trust in an increasingly digital landscape.

Key Insights

  • Based on deployment, the on-premises segment is expected to register the highest CAGR of 12.95% over the forecast period
  • Based on layer, the security analytics and intelligence segment generated the highest revenue of USD 444.8 million in 2023
  • Based on enterprise size, the large enterprises segment accrued the largest market share of 58.95% in 2023
  • By vertical, the retail segment is expected to witness the highest CAGR of 19.51% through the projection period
  • On the basis of region, Asia Pacific is anticipated to grow at a robust CAGR of 12.36% over 2024-2031

Check Point Launches Quantum Spark 1900 & 2000, an Advanced Cyber Security for SMBs

January 2024: Check Point unveiled the release of Check Point Quantum Spark 1900 and 2000, the newest models in its next-generation firewall lineup tailored for small and medium-sized enterprises. These cutting-edge security gateways are designed to safeguard SMBs against continually evolving cyber threats.

Rising Demand for Cloud-Based Security Solutions to Offer Lucrative Opportunities for Market Expansion

The rising demand for cloud-based security solutions presents lucrative opportunities for market expansion. As organizations continue to adopt cloud computing for its scalability, flexibility, and cost-effectiveness, they are facing new security challenges associated with securing cloud workloads, applications, and data. Cloud-based security solutions offer a comprehensive approach to addressing these challenges by providing centralized security controls, real-time monitoring, and automated response capabilities across hybrid and multi-cloud environments. These solutions enable organizations to extend their security perimeter to the cloud, thereby ensuring consistent security posture and compliance with regulatory requirements. Additionally, cloud-based security solutions leverage advanced technologies such as AI, machine learning, and behavioral analytics to detect and mitigate evolving cyber threats more effectively. With the increasing adoption of cloud computing across various industries, the demand for cloud-based security solutions is expected to continue to rise, which is offering significant opportunities for market expansion.

Growing Inclination toward Hybrid Multi-Cloud to Augment  Cybersecurity Mesh Market Growth

The growing inclination toward hybrid multi-cloud environments is poised to augment market growth in the cybersecurity industry. Organizations are increasingly adopting hybrid multi-cloud strategies to leverage the benefits of multiple cloud platforms while addressing specific business requirements, such as performance, scalability, and cost optimization. However, managing security across disparate cloud environments introduces complexity and challenges, including ensuring consistent security policies, access controls, and threat visibility. As a result, there is a growing demand for cybersecurity solutions capable of offering centralized security management, real-time monitoring, and automated response capabilities across hybrid multi-cloud environments. These solutions enable organizations to enforce consistent security policies and controls, detect and respond to cyber threats in real-time, and ensure compliance with regulatory requirements across their entire cloud infrastructure. With the increasing adoption of hybrid multi-cloud environments across various industries, the demand for cybersecurity solutions tailored to these environments is expected to surge, driving market growth.

Asia Pacific Witness the Significnat Growth, Depicting a CAGR of 12.36% Over 2024-2031

Asia Pacific is projected to witness considerable growth in the forthcoming years. The region's rapidly expanding digital economy and increasing adoption of cloud computing, IoT, and mobile technologies are driving the demand for advanced cybersecurity solutions to protect critical assets and data from evolving cyber threats. Additionally, the region's diverse and dynamic business landscape, characterized by a mix of large enterprises, SMEs, and startups across various industries, presents significant opportunities for cybersecurity vendors to cater to a wide range of cybersecurity needs.

Moreover, increasing government initiatives and regulatory measures aimed at enhancing cybersecurity resilience and ensuring data protection are expected to fuel the adoption of cybersecurity solutions in the region. Furthermore, rising cyber threats, including ransomware, phishing, and insider threats targeting organizations in Asia-Pacific, are driving the need for robust cybersecurity measures, thereby contributing to regional market growth. Asia-Pacific's growing digital ecosystem, combined with increasing cybersecurity awareness and regulatory focus, positions the region for substantial growth in the foreseeable future.

Market Players Focus on Innovative Product Launches to Drive Market Development

The global cybersecurity mesh market is fragmented with key players such as IBM Corporation, Check Point Software Technologies Ltd., Zscaler, Inc., Palo Alto Networks, Forcepoint, Fortinet, Inc., SonicWall, Microsoft, Amazon Web Services, Inc., Oracle, and others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

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