The secure web gateway market is expected to expand at a CAGR of 21% through the forecast period (2019-2029) across the globe while Latin America is anticipated to overtake North America after recording a CAGR of 24%. On the basis of end-user segment, the fast growth of SaaS (Software-as-a-service) application is motivating cloud-integrated web gateway.
“Small and medium enterprises settled in Europe, Latin America and MEA are motivating revenue generation by procuring secure web gateway. These enterprises are procuring to cloud-integrated security for a proper traffic before the traffic actually arrives at the destination through internet,” states the FMI Analyst.
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Secure Web Gateway Market – Key Highlights
- As Latin America exhibits a CAGR of 24%, this region is expected to overtake North America by 2026.
- On the basis of industry segmentation, BFSI accounts for almost 1/5 of global adoption of SWG.
- Market vendors have shifted their focus to URL filtering, malware defense, and tunnelling options.
- On the basis of region, Europe has taken the spotlight with Western Europe being at the top.
Secure Web Gateway Market – Driving Factors
- Wide applications and adoption of secure web gateway in e-commerce and retails industries is driving the market.
- Network designing and integration services is gaining pace in the developing economies and contributing to the economy.
- MEA is set to provide series of opportunities and is said to be the most lucrative of all.
- As the financial and industrial sectors are digitalizing themselves by adopting SWG, this market is growing at a considerable rate.
Secure Web Gateway Market – Key Constraints
- Internet reliance drives the fear of cyber-attacks and manipulation of data, therefore causing hindrance.
- Businesses are not ready to disclose information to internet tools and want to be on the safe side always.
Expected Impact on Market by Coronavirus Outbreak
Growth of SWG market will not suffer much of a loss because social distancing norms will only promote internet reliance and people will avoid the manual process. In the coming years, the SWG market is only expected to rise owing to the digitalization of industrial as well as financial sectors. Therefore, it is probably safe to assume that SWG market will gain proper momentum and will not suffer much loss.
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Competitive Landscape
Key players in the market include Symantec, Forcepoint, Cisco Umbrella, Zscaler, Inc., McAfee, LLC, Trend Micro Incorporated etc.
Small and Medium Enterprises are expected to be the top adopters of SWG. Companies are working thoroughly to enhance the condition of secure web gateway tools The tools include real-time traffic inspection, protection for off-grid workers, and time- and content-based access and data leak prevention and other operating systems. These factors will lead to the growth of the secure web gateway market on a global scale.
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