The global Microsegmentation Market was valued at US$ 1490.4 Million in 2021 and is expected to surpass US$ 11024.1 Million by 2030, registering a CAGR of 25.0% during the forecast period (2022-2030), according to the Global Microsegmentation Market Report, By Component (Software and Services), By Service (Managed Services and Professional Services), by Security (Network Security, Database Security, and Application Security), By Deployment Type (On-premises and Cloud), By Organization Size (SMEs and Large Enterprises), By Vertical (Government & Defense, BFSI, IT & Telecom, Healthcare, Retail, Manufacturing, Energy & Utility, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa), published by Coherent Market Insights.
Increasing adoption of integrated data protection and workload isolation in small and medium enterprises (SMEs) is expected to drive market growth during the forecast period. Microsegmentation in SMEs create secure zones in data centers & cloud deployments and isolates & secure workload individually, as SMEs do not have security measures to protect their data, cloud infrastructure, endpoints, networks, and applications. The demand for microsegmentation solutions is increasing rapidly across SMEs and large enterprises in order to meet IT security requirements. For instance, Cloudfare launched Cloudfare for teams, a set of solutions that protect companies and employee, globally. Cloudflare for teams is a new solution that secures and controls internet traffic in order to protect employees and organizations from threats on the public internet.
Moreover, increasing cyber-attacks are also expected to drive market growth during the forecast period. For instance, in 2018, according to a report given by Engineering Employers Federation (EEF), 48% of manufacturers suffered from cyber-attacks and 21 % of the manufacturers lost intellectual property due to cyber-attacks. Microsegmentation is generally used to reduce the number of cyber threats in organizations. For instance, Hillstone Networks, a China-based company that delivers innovative and effective network solutions to enterprise customers, launched Hillstone CloudHive to upgrade its microsegmentation solution for cloud workload protection, and monitor inbound and outbound traffic of virtual machines with correlation analysis.
The global Microsegmentation market is valued at US$ 1490.4 Mn in 2021 and is expected to exhibit a CAGR of 25.0% during the forecast period (2022 – 2030).
Key Developments
In October 2021, Akamai Technologies, Inc., an American cloud service, content delivery network, and cyber security Company, completed the acquisition of Guardicore of Tel Aviv, a data center and cloud security company to add Guardicore's products of microsegmentation to Akamai portfolio of Zero Trust solutions.
Microsegmentation Market - Impact of Coronavirus (Covid-19) Pandemic:
The global microsegmentation market has been significantly impacted by the outbreak of the COVID-19 pandemic. With the increase in demand for remote working and virtualization, organizations have faced serge for advanced solutions to secure their network during a pandemic. Furthermore, there was a huge demand for microsegmentation solutions as organizations were looking for better ways to secure their critical data and applications during covid-19.
But, on the other hand, the economic downturn due to the pandemic has resulted in decreased investments in technology which has hindered the growth of microsegmentation market during the COVID-19 pandemic.
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Key Trends and Analysis of the Global Microsegmentation market:
- North America held dominant position in the global microsegmentation market in 2021 and is expected to retain its dominance throughout the forecast period. This is attributed to increasing ransom attacks on connected devices, increasing need for security upgradation, and rising adoption of cloud computing and security virtualization. For instance, in November 2019, IBM Corporation launched the Cloud Pak platform and it is the first innovative technology to connect with cloud or on-premise system without moving data from its source and this technology is used to provide security in the system. Similarly, in November 2019, ExtraHop Networks, a U.S.-based cyber analytics company that helps organizations to understand and secure their network, announced integration between ExtraHop Reveal(x) and Google Cloud Platform (GCP). Google Cloud Platform (GCP) features enable ExtraHop Reveal(x) to analyze network traffic and real-time threat detection, investigation, and response. Through this integration, security teams can protect data and detect most of the critical threats in the organization.
- Asia Pacific is expected to show significant growth over the forecast period, owing to increasing adoption of new technologies and digitization. For instance, in February 2020, Huawei Technologies Co. Ltd. launched Digital Payment Cloud Solution. This solution provides real-time digital query experience to both users and merchants. This solution is based on artificial intelligence, and detects fake transactions and avoid cash out risks.
- Among services, the managed services segment held a dominant position in the market in 2021 and is expected to retain its dominance during the forecast period. This is owing to the implementation of cloud-based solutions and increased data protection investments by major players in the region. Moreover, growing investment due to the launch of cloud-based technology is driving the market growth. For instance, Cisco System, Inc. launched SecureX, a cloud-native security platform. This solution enables customers to analyze events and data across organizations.
- Major players operating in the global microsegmentation market include Cisco Systems Inc. (US), Akamai Technologies, Inc., Palo Alto Networks, Inc., Symantec Corporation, Okta, Inc., Forcepoint, LLC, Cyxtera Technologies, Sophos Group Plc, Google LLC, Microsoft, Inc., VMware Inc., Trend Micro Incorporated, Cloudflare, IBM Corporation, Fortinet, Check Point Software Technologies Ltd., Unisys, vArmour, Inc., OPAQ Networks, Inc., ExtraHop Networks, ShieldX, Bracket Computing Inc., Nutanix, and Cloudvisory
