Unified Threat Management Spend To Surge $14.8 Billion Globally by 2028
Hampshire, UK – 5th June 2023 – A new study from Juniper Research, the foremost expert in cybersecurity, has found that spend on unified threat management by enterprises will increase by 98% between 2023 and 2028 globally, from $7.5 billion in 2023.
As the cyberthreat landscape becomes more complex, with growing enterprise cloud adoption, IoT devices being used, and AI powering new threats, unified threat management is necessary for enterprises to stay secure. As such, we anticipate increasing levels of investment by enterprises, as they come to terms with the expanding threat landscape.
Unified threat management is an approach to information security where a single hardware or software installation provides multiple security functions. This contrasts with the traditional method of having point solutions for each security function and therefore, it simplifies protection.
Top Unified Threat Management Vendors Ranked
As part of the study, Juniper Research released its latest Competitor Leaderboard for 2023. Underpinned by a robust scoring methodology, the new Competitor Leaderboard ranked the top 17 unified threat management platforms, using criteria such as the completeness of their solutions and their future business prospects.
The top 5 vendors for 2023:
- IBM
- Cisco Umbrella
- Juniper Networks
- Fortinet
- Palo Alto Networks
The research found that the leading players scored well based on their breadth of protection capabilities, as well as their use of AI for managing evolving threats and coordinating responses. In order to stay ahead of the competition, vendors must develop advanced SASE (Secure Access Service Edge) solutions, which enable local and remote services to be protected with the same security and networking policies, to further advance security.
“Enterprises want to minimise risk, whilst increasing value from IT spend. Unified threat management enables enterprises to collate and act on information in a single location, reducing complexity and cost. The best vendors will leverage AI to reduce manual requirements and increase the return on investment for businesses.”
Report co-author Nick Maynard explained
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports, and commentary.
Find out more about the new report, Unified Threat Management Market: Trends, Strategies & Market Forecasts 2023-2028