Market Trends of Unified Threat Management Industry
This section covers the major market trends shaping the Unified Threat Management Market according to our research experts:
Increasing demand for data security is one of the major factor driving growth of the market.
- Several organizations are currently focusing on networking and IT infrastructure, which immediately boosts data generation. Because more data is being generated regularly, these firms are dealing with problems linked to data breaches.
- For IT firms today, protecting a corporate network from attackers has become a serious task. As network operators are compelled to integrate more components to address escalating security concerns, the problem has expanded tremendously in recent years. Enterprises of all sizes are using unified Threat Administration (UTM) solutions, but primarily SMBs, to reduce the complexity of management and combat this rising issue. Intensive point security solutions are being replaced with these alternatives to reduce spending and energy usage.
- Initially, these solutions were used to serve small businesses. Still, due to an increase in the features and applications available in the market for unified threat management, where UTM can be used, the trend of adopting such appliances and services is shifting more and more in favor of mid-sized and enterprise-level businesses.
- Initially, these solutions were used to serve small businesses. Still, due to an increase in the features and applications available in the market for unified threat management, where UTM can be used, the trend of adopting such appliances and services is shifting more and more in favor of mid-sized and enterprise-level businesses.
- The impact of data breaches would hurt the performance of the organizations in terms of customer loss, revenue reduction, loss of competitive advantage, staff productivity, and other factors. To help organizations increase the security level, protection, visibility, and control over the data across the network, UTM solutions contain capabilities like application control, intrusion detection, content filtering, and others. Therefore, UTM solutions would offer a high level of data protection that helps to reduce the loss of sensitive data, consequently driving the growth of the UTM market.
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North America to account for significant market growth.
- Due to the region's expanding cloud security infrastructure, the unified threat management (UTM) industry is predicted to rise significantly in North America. Additionally, the area experiences a high volume of cyberattacks, which led to the widespread adoption of UTM solutions and cyber security tools, further bolstering the market's expansion in the area.
- For instance, according to the Identity Theft Resource Center, nearly 294 million people in the United States were victims of cyber data infractions such as breaches, data exposure, and data leaks in 2021. There were 817 instances of data compromise in the United States in the first half of the last year. There were 785 instances of private data infringement found in the nation in 2015.
- The demand for affordable UTM solutions is expected to increase as the number of SMEs in the area rises. Vendors also frequently update their products by including new features in order to enhance performance and satisfy user demands. The regional market is anticipated to be driven by these factors as well.
- The demand for dependable security and data leak prevention solutions across IT, telecom, BFSI, healthcare, retail, manufacturing, transport, utilities, and other domains can be linked to regional growth trends. Leading unified threat management service providers' presence in the US and Canada will have a favorable effect on the dynamics of regional growth.
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