The pent-up demand created after the 2020 pandemic shutdowns has combined with the attention on enterprise digitalization and new threats to provide the network security market an enormous boost, according to a new report from Dell’Oro Group. Further amplifying demand is the copious amounts of fiscal stimulus by governments helping to increase macro-economic confidence. Thus far, the network security industry has largely overcome the supply chain chaos affecting other markets, as vendors have deftly maneuvered to satisfy demand.
“This quarter’s growth reflects an uncommon alignment between enterprise IT teams asking for more security investment and business leadership willing to do so,” said Mauricio Sanchez, Research Director, Network Security at Dell’Oro Group. “While spend on more modern Secure Access Service Edge (SASE) and Zero Trust approaches skyrocketed, even that for the more traditional perimeter firewall experienced healthy growth.”
Additional highlights from the 3Q 2021 Network Security Quarterly Report:
- Software-as-a-Service (SaaS)-based Network Security, consisting of cloud-delivered Email Security, Secure Web Gateway (SWG), and Web Application Firewall (WAF), achieved a total of $1.2 B in 3Q 2021, representing 26 percent growth year-over-year (Y/Y).
- SaaS-based SWGs which are vital to SASE and starting to go by the Secure Service Edge (SSE) name, were up 35 percent Y/Y and on track to surpass $2 B for full-year 2021.
- Physical firewall appliance revenue rose 14 percent and is on trajectory to crack $10 billion for full-year 2021.
https://www.delloro.com/news/saas-based-network-security-rockets-up-26-percent-in-3q-2021/