Security Service Edge Market Trends

Growth Drivers

• Compulsion to Follow Regulatory and Data Protection Laws- Cyber-attacks that have evolved over the years have massively hit organizations, causing huge losses. For instance, 323972 internet users reported being the target of phishing attempts in 2021. This indicates that phishing attacks fooled half of the consumers who experienced data breaches & in 2022, data breaches cost companies USD 4.35 million on average. At the pandemic's peak, phishing attacks increased by 220%. Today, organizations are constantly trying to implement advanced security solutions to combat such disruptive attacks. With the introduction of advanced information security service solutions, compliance with applicable government data protection laws is mandatory. Data protection directives play a key role in solving growing business and data protection issues.

• Ability to Unite Networking and Security Capabilities into a Single Platform- The latest network models have many access points to store data between cloud platforms and between servers & applications. Securing and managing these networks & safely accessing different data can be a complex and time-consuming procedure. The work is constantly becoming more difficult due to the introduction of new technologies. The introduction of security solutions on a single platform securely makes easy access to data.
• Cost Savings by Combining Multiple Security and Network Access- The incorporation of multiple security and network access technologies into a single platform, often offered through subscription pricing, depicts a remarkable chance within the security service edge market. This opportunity focuses on cost effectiveness where organizations can achieve significant savings. By combining various security and networking tools into a single security service platform, companies can streamline their IT spending.

Challenges

• Traffic Aggression and Client Encounter- Changing traffic patterns and the shift to work remotely have complicated this challenge, as users require reliable, high-quality access to applications from different locations. Additionally, changing accessibility complicates the equation by not ensuring compatible application and network performance. These issues must be addressed by optimizing traffic routing, implementing quality of service measures, and ensuring that security measures do not compromise network performance.

• Security service architecture and its components come with high upfront implementation costs and lack of standardization.
•  A lack of understanding of cloud resources and cloud security architecture.