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New York, April 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Cybersecurity Mesh Market Size, Share & Industry Trends Analysis Report By Offering, By Vertical, By Deployment Mode, By Enterprise Size, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06449933/?utm_source=GNW It enables businesses to extend security wherever required. The cybersecurity mesh facilitates the implementation of a zero-trust architecture by safeguarding all accessible systems and data regardless of location.

Many companies invest in cybersecurity mesh to improve data security and prevent hackers from manipulating diverse network components. Cybersecurity mesh solutions are gaining acceptance, particularly because of enterprises growing security concerns and heightened awareness of sophisticated cybersecurity. Rapid economic development, increasing acceptance of cloud-based services, expanding Internet of Things (IoT) deployment, and rising need for cyber-savvy boards are driving the markets growth.

Cybersecurity mesh architecture offers a flexible and scalable approach for increasing security controls even for widely separated assets. Its versatility makes it perfect for more modular strategies and compatible with hybrid multi-cloud systems. Cybersecurity mesh allows a more composable, flexible, and robust security infrastructure. A cybersecurity mesh enables technologies to interoperate across many supported layers, such as centralized policy management, security intelligence, and identity fabric, instead of each security solution operating in isolation.

COVID-19 Impact Analysis

The COVID-19 outbreak significantly impacted the general behavior of customers and service providers. The temporary shutdown of production units, labor shortages, lack of resources, data breaches, and disrupted supply chain has significantly impacted corporate expansion. Several small and medium-sized enterprises across the world experienced permanent and temporary closures, and some faced temporary closures. Globally, the pandemic affected small businesses and start-ups, negatively affecting the demand for internet security products and services like cybersecurity mesh.

Market Growth Factors

Cyberspace expansion increases the demand for better security solution

Cyberspace has changed during the past few decades. Historically, corporations concentrated on safeguarding the networks perimeter, ensuring that the networks inside remained a secure, trusted environment. The pandemic has dramatically boosted organizations use of the internet. IT firms have complicated security requirements, rendering the current security architectural techniques outdated. This quickly evolving digital ecosystem needs an updated security strategy to minimize all security risks and operational burdens. The perimeter of the enterprise network has evolved. These factors are boosting market growth.

The increasing adoption of the multi-cloud based strategies

Enterprises aspire to develop a unified security posture across multi-cloud environments. Cybersecurity mesh architecture (CSMA) allows people and machines to connect securely from numerous locations across hybrid and multi-cloud environments, channels, and diverse application generations, safeguarding the enterprises digital assets. Hence, as CSMA safeguards the multi-cloud environment, which is becoming essential due to multi-clouds rising adoption, the growth of the cybersecurity mesh market is expected to propel.

Market Restraining Factors

Shortage of skilled workers to employ and use cybersecurity mesh solution

Companies require competent cybersecurity workers today more than ever. Thus many firms report that their board of directors advises raising headcount for IT and cybersecurity. After security administrators and architects, cloud security professionals and security operations analysts remain among the most sought-after positions in cybersecurity. Hence the shortage of skilled professionals, which is unable to meet the increasing demand for cybersecurity solutions, is expected to hinder the cybersecurity mesh market growth.

Offering Outlook

On the basis of offering, the cybersecurity mesh market is divided into solution and services. The solution segment witnessed the largest revenue share in the cybersecurity mesh market in 2021. This is owing to the fact that cybersecurity mesh solution comprises an ecosystem of security technologies for securing a distributed company. The cybersecurity mesh solution adds supplemental layers for fundamental security capabilities. It integrates composable, distributed security technologies by centralizing the data and control plane and establishing device cooperation. These solutions provide unified protection across the entire IT infrastructure, including networks, cloud, endpoints, mobile, and IoT devices.

Vertical Outlook

By vertical, the cybersecurity mesh market is classified into BFSI, healthcare, IT & ITeS, energy & utilities and others. The BFSI segment garnered a prominent revenue share in the cybersecurity mesh market in 2021. This is owing to the sensitivity of financial data, BFSI is an early user of innovative cybersecurity solutions. The banking industry is riddled with cyberattacks due to the high frequency and size of inter-organizational money transfers. It faces difficulties associated with tight regulatory and security standards while offering exceptional service to clients and others.

Enterprise Size Outlook

Based on the enterprise size, the cybersecurity mesh market is bifurcated into small & medium sized enterprises and large enterprises. The small & medium sized enterprises segment recorded a significant revenue share in the cybersecurity mesh market in 2021. This is owing to the usage of digital technology by SMEs, which increases their vulnerability to hackers. SMEs implement cybersecurity mesh solutions to safeguard their organizations from illegal access, openness, and threats. One of the primary goals of attackers who target SMEs is to get access to sensitive consumer data, such as personal and other confidential information.

Deployment Mode Outlook

By deployment mode, the cybersecurity mesh market is divided into cloud and on-premise. The cloud segment generated the highest revenue share in the cybersecurity mesh market in 2021. This is due to the fact that a third-party service provider handles all hosting and maintenance requirements in the cloud. The organization adopting and delivering cloud-based solutions leverages the pay-per-use approach. The implementation is flexible and adaptable, allowing firms to upgrade or downgrade their plans based on the development and scalability of their businesses.

Regional Outlook

Region-wise, the cybersecurity mesh market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed the largest revenue share in the cybersecurity mesh market in 2021. This is due to the region being one of the most advanced areas in terms of infrastructure and security technologies. In recent years, the digitization of the region has increased. There is an increase in the usage of technology such as digital payments, cloud-based apps, and the Internet of Things, which have increased complications and worries for businesses and made this region more susceptible to cyberattacks.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; IBM Corporation, Check Point Software Technologies Ltd., Fortinet, Inc. are the forerunners in the Cybersecurity Mesh Market. Companies such as Palo Alto Networks, Inc., Forcepoint LLC (Francisco Partners) and Zscaler, Inc. are some of the key innovators in Cybersecurity Mesh Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Palo Alto Networks, Inc., Check Point Software Technologies Ltd., Zscaler, Inc., Fortinet, Inc., Forcepoint LLC (Francisco Partners), Cato Networks Ltd., GCA Technology and appNovi, Inc.

Recent Strategies Deployed in Cybersecurity Mesh Market

Partnerships, Collaborations & Agreements

Mar-2023: IBM collaborated with Cohesity, a data security and data management provider. Under this collaboration, integrating data protection, data management and cyber resilience abilities from both companies, IBM would introduce its latest IBM Storage Defender solution which would consist of Cohesitys data protection as an essential part of the suite.

Sep-2022: Palo Alto Networks partnered with Wipro, an India-based Information technology company. With this partnership, the company would deliver its customers complete platforms with managed services to support customers protect the cloud, and network and broadening their edge in a way that is combined, simple, and automated.

Aug -2022: Fortinet signed an agreement with NEC Corporation; a company engaged in the integration of IT and network technologies. Under this agreement, both companies would create secure 5G networks for communication service providers (CSPs). Moreover, Fortinet would deliver complete security solutions, including FortiGate, one of the most deployed next-generation firewall and highest performing hyperscale firewall.

Mar -2022: Palo Alto Networks came into a partnership with Amazon Web Services, an online platform that provides scalable and cost-effective cloud computing solutions. This partnership aimed to launch Palo Alto Networks Cloud NGFW for AWS a controlled Next-Generation Firewall service developed to clarify securing AWS deployments allowing the enterprise to accelerate pace of innovation while outstanding safety.

Dec-2021: IBM formed a partnership with Du, Emirates Integrated Telecommunications Company. Under this partnership, Du would leverage IBMs security software and solutions across its Digital Trust portfolio and its Cyber Defense Centre.

Apr-2021: IBM came into a partnership with HCL Technologies, an Indian multinational information technology. Under this partnership, HCLs Cybersecurity Fusion Centres would draw upon IBMs Cloud Pak to develop a unified platform for connecting security teams, tools, and processes within the threat lifecycle.

Product Launches and Product Expansions

Sep-2022: Check Point Software Technologies released Check Point Horizon platform, an Industry-leading Security Operations Solutions and Services portfolio with prevention first approach. The launch would aim to improve defenses across the cloud, network and endpoints and secure future cyber-attacks.

Jul-2022: Fortinet introduced FortiCNP, the latest cloud-native protection offering, designed to help clients migrate to the cloud on their own. Through this launch, FortiCNPs Resource Risk Insights would produce context-rich, actionable insights that would assist prioritize the reduction of risks without slowing down a customers business.

Sep-2021: Palo Alto Networks announced the launch of Okyo Garde, an enterprise-grade ybersecurity solution offered through a premium mesh-enabled Wi-Fi 6 system. The product consists of software, hardware and security services into one easy, seamless subscription.

Mergers & Acquisition:

Oct-2021: Forcepoint took over Bitglass, a Security Service Edge (SSE) leader. Through this acquisition, Forcepoint would deliver a best-in-class SSE platform that includes a state-of-the-art Cloud Access Security Broker (CASB). This acquisition would further enable Forcepoint to become the only company delivering each & every strategic component of SSE and SASE.

Scope of the Study

Market Segments covered in the Report:

By Offering

Solution

Services

By Vertical

IT & ITeS

BFSI

Healthcare

Energy & Utilities

Others

By Deployment Mode

Cloud

On-premise

By Enterprise Size

Large Enterprises

Small & Medium Sized Enterprises

By Geography

North America

o US

o Canada

o Mexico

o Rest of North America

Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

IBM Corporation

Palo Alto Networks, Inc.

Check Point Software Technologies Ltd.

Zscaler, Inc.

Fortinet, Inc.

Forcepoint LLC (Francisco Partners)

Cato Networks Ltd.

GCA Technology

appNovi, Inc.

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