SaaS-Based Network Security Revenue Will Surpass $60 Billion, Says Dell’Oro Group
Network Security Demand – which includes Email Security, Firewall, Security Services Edge (SSE), Secure Web Gateway (SWG) and Web Application Firewall (WAF) technologies ) – should remain strong over the next five years as strong enterprise investments in cloud applications and hybrid working reinforce the need for security and offset macroeconomic headwinds, according to Dell’Oro Group.
Additional highlights from the July 2022 Network Security 5-Year Forecast Report:
SSE market revenue will grow at a compound annual growth rate (CAGR) of nearly 30% from 2021 to 2026. Secure Web Gateway (SWG) and Cloud Access Security Broker (CASB) are expected to remain the largest revenue components during of the five-year period. forecast horizon, but Zero Trust Network Access (ZTNA) and Firewall-as-a-Service (FaaS) are expected to thrive at a faster rate. The firewall market is expected to remain the largest network security segment by revenue and is expected to grow at a CAGR of 8% over the forecast horizon.