In the post-COVID-19 scenario, the global Secure Access Service Edge Market size is projected to grow from USD 1.2 Billion in 2021 to USD 4.1 Billion by 2026, recording a Compound Annual Growth Rate (CAGR) of 26.4% from 2021 to 2026. Key factors that are driving the market growth include the growing preference for remote working in the wake of the outbreak of the COVID-19 pandemic, coupled with the rising need for a unified network security architecture with the capabilities of SD-WAN, FWaaS, SWG, CASB, and ZTNA solutions.
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By offering, Security as a service segment is expected to grow at a higher CAGR than the Network as a service (NaaS) segment during the forecast period.
According to Zscaler, Security as a service is a way to deliver security technologies, which are traditionally found in enterprise data centers or regional gateways, as a cloud service. Security as a service has become an important enabler of business in the world because it provides secure access to applications and services, no matter where they are hosted or where users connect. NaaS services can range from managed software-defined WAN (SD-WAN) and network access, including wireless to security, unified communications services, and more, either in a public cloud or on virtualized customer premise equipment (vCPE).
Based on Vertical, BFSI segment is estimated to lead the market in 2021.
The BFSI vertical has been at the forefront in adopting SD-WAN, as it enables the banking institutions to provide a broad spectrum of services to customers at sustainable costs. The BFSI vertical is facing bandwidth and security issues while connecting regional offices such as branch offices and data centers. The SASE platforms have built-in security features that secure hybrid networks for widespread use.
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Major players, namely, include Cisco Systems Inc. (US), VMware Inc. (US), Fortinet, Inc (US), Palo Alto Networks, Inc. (US), Akamai Technologies, Inc. (US), Zscaler, Inc. (US), Cloudflare, Inc. (US), Cato Networks (Israel), Versa Networks, Inc. (US), Forcepoint (US), Broadcom, Inc. (US), Check Point Software Technologies Ltd. (Israel), McAfee, LLC (US), Citrix Systems, Inc. (US), Netskope (US), Perimeter 81 Ltd. (Israel), Open Systems (Switzerland), Aryaka Networks, Inc. (US), Proofpoint, Inc. (US), Secucloud Network GmbH (Deutschland), Aruba Networks (US), Juniper Networks, Inc. (US), Verizon Communications, Inc. (US), SonicWall (US), Barracuda Networks, Inc. (US), and Twingate (US). These players have adopted various growth strategies, such as partnerships, agreements & collaborations, new product launches & product enhancements, and acquisitions to expand their presence in the SASE market. Partnerships, agreements & collaborations, and new product launches have been the most adopted strategies by the major players from 2019 to 2021 to innovate their offerings and broaden their customer base.
Cisco is a global vendor of networking equipment. The company has been designing, manufacturing, verifying, and selling integrated products and services since 1984. It also offers Internet Protocol (IP)-based networking, security, and cybersecurity products and services. Cisco’s zero-trust security ensures complete security across organizations’ network, applications, and environments. This approach helps secure access from users, end-user devices, APIs, IoT, microservices, and containers, among others. It protects the workforce, workloads, and workplaces.
The company’s customer base includes large enterprises and small and mid-sized businesses with security solutions, such as SASE, Software-Defined Wireless Area Network (SD-WAN) Security, Cisco Zero Trust, Cisco Secure Data Center, and Cisco Application-First Security. Cisco Security Technology Alliance enables open, multi-vendor product integrations with Cisco’s security products. The company offers services, such as advisory, implementation, and managed services. It has strategic alliances with Apple, A10 Networks, Alien Vault, AWS, Centrify, Fortinet, Google, and IBM Security. It has a significant presence in the Middle East, North America, Latin America, APAC, and Europe.
VMware is a global provider of virtualization and cloud infrastructure and focuses on customer-centric solutions to accelerate the IT performance of enterprises. In 2004, VMware was acquired by EMC. It remains a subsidiary of EMC but operates as an independent software provider. As of 2021, the total number of employees working in the company is 33,000. The company offers flexible, easy-to-install, and agile products and services. VMware holds a prominent position in the SASE market space. The company offers a robust set of solutions and services in the market and enables the customers to tackle the challenges in any security threat.
VMware enables enterprises to install different cloud models to improve day-to-day business operations. It serves more than 500,000 customers, 75,000 partners, and 120 locations across the world. Its core products include data center and cloud infrastructure, networking and security, storage and availability, hyper-converged infrastructure, cloud management platform, personal desktops, digital workspaces, desktop and application virtualization, and enterprise mobility management.
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