According to the latest market study released by Technavio, the global unified threat management market is set to post a CAGR of close to 15% by 2020.

This research report titled global unified threat management (UTM) market 2016-2020 provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecast for various market segments and all geographical regions.

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The research study states that the global UTM market is expected to witness significant growth during the forecast period because of the increased demand for integrated security solutions. Despite the availability of many security solutions in the market, choosing the right solution and implementing every individual solution is time consuming and expensive for end-users. Therefore, the need to consolidate security solutions in a single package becomes a necessity.

Amrita Choudhury, Technavio’s lead research analyst, specializing in research on IT security says, “Customers are demanding security solutions that are easy to use, easy to deploy, and which provide enhanced security. Therefore, the adoption of integrated security solutions such as the UTM has increased among large enterprises across many industries, especially in North America and Europe.”

The report classifies the global unified threat management market into five end-user segments:

  • Telecom sector
  • Financial sector
  • Government sector
  • Healthcare sector
  • Others

As of 2015, the telecom sector held the largest share in the global UTM market. Technavio analysts, however, expect the growth rate of this sector to decline over the next four years because of the increased adoption of UTM solutions among other end-user segments such as retail, education, and utilities.

The financial sector, which holds a market share of close to 17% as of 2015, is likely witness an increase in its growth rate during the forecast period because it is the most targeted sector for cybercrime and network threats. Network attacks such as social engineering and phishing attacks have constantly been occurring in this sector because hackers attempt to steal clients' money, crash computer systems, and harm capital markets. Therefore, the adoption of UTM solutions is likely to increase in the financial sector to provide the necessary controls to protect critical business information from cyber-attacks and data breaches.

Amrita Choudhury, Technavio’s lead research analyst, says, “We are also predicting the market share of the government sector to increase between now and 2020 because organizations in this sector are highly dependent on IT for their business operations, which results in increased incidences of cyber-attacks such as leakage or destruction of sensitive data. Thus, to protect critical data and assets from theft, exploitation, and sabotage, organizations in the government sector are increasingly adopting UTM solutions.”

The others end-user segments, including education, energy and utilities, and retail, hold over 30% of the market share as of 2015. Increasing awareness among these industry sectors, through training and awareness programs, of the benefits of deployment of UTM solutions, is the primary factor driving the growth of this market.

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

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