According to a research report "Secure Web Gateway Market by Component (Solutions (Threat Protection, Access Control, and Data Protection) and Services), Deployment Mode, Organization Size, Vertical (Healthcare, BFSI, IT & Telecom, and Education), and Region - Global Forecast to 2024", published by MarketsandMarkets, the SWG market size is projected to grow from USD 4.6 billion in 2019 to USD 10.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 19.1% from 2019 to 2024. The major growth drivers for the market include the rising need for protection from web-based cyberattacks.
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Based on organization size, the large enterprise segment to lead the market in 2019
Large enterprises have more than 1,000 employees. They are strongly investing in advanced technologies to increase their overall productivity and efficiency. They are expected to invest significantly in implementing SWG solutions because of their capability to offer end-to-end protection in web security and to enforce the same level of security to applications. With a rise in trends such as Bring Your Own Device (BYOD) and cloud-based applications, the number of touchpoints has increased in an organization; thus, raising the risk of cyber threats. To protect business networks, terminals, and information from cyber threats, data thefts, and unauthorized access, enterprises are considering the adoption of SWG solutions.
SWG players such as Symantec, Zscaler, and Cisco provide solutions that cater to the needs of large enterprises. Large enterprises are expected to continue to adopt solutions and services from these companies through cloud as well as on-premises SWG solutions.
Based on verticals, the IT and telecom vertical to grow at the fastest growth rate during the forecasted period
IT and telecom companies are being attacked by cyber attackers more and more. The growing involvement of IT services into daily operations of companies across all verticals, coupled with the increasing sophistication of attacks, is compelling the companies to adopt web-based security solutions. The rising use of cloud computing, IoT, and BYOD has raised concerns over security solutions to be adopted in the telecom vertical. Operators controlling and operating critical infrastructure communicate and store sensitive data that are prone to sophisticated and complex attacks, such as Distributed Denial of Service (DDoS) attacks and ransomware attacks. With the evolving landscape of cyber threats, IT organizations, telecom operators, and service providers across the US, UK, Germany, France, China, Japan, India, Singapore, and other countries are deploying SWG solutions to combat the emerging threats on their infrastructure.
North America to hold the highest market share during the forecast period
The North American region has sustainable and well-established economies, which empower it to invest significantly in R&D activities, thereby contributing to the development of new technologies in SWG. The presence of the majority of key players is expected to be a major factor driving the growth of the market in this region. Key players such as NortonLifeLock, Zscaler, Cisco Systems, Check Point Software Technologies, Sophos Group plc, Forcepoint, Trendmicro, Comodo Group, and Mcafee, LLC, along with several startups in the region, are offering SWG solutions and services to cater to the needs of customers.
The major vendors covered in the SWG market include NortonLifeLock Inc. (Symantec Corporation) (US), Zscaler, Inc. (US), Cisco Systems Inc. (US), Check Point Software Technologies (Israel), Sophos Group PLC (UK), Forcepoint (US), TrendMicro Incorporated (Japan), Comodo Group (UK), McAfee, LLC (US), Thoma Bravo (Barracuda Networks, Inc.) (US), NetSkope (US), A10 Networks, Inc. (US), Cyren (Israel), Sangfor Technologies (China), CATO Networks (Israel), Content Keeper (Australia), iboss (US), Menlo Security (US), F5 Networks Inc. (US), and Citrix Systems Inc. (US).
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