At 11.1% CAGR, Europe Unified Threat Management Market is Projected to be Worth US$ 3,415.24 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe unified threat management market was valued at US$ 1,473.86 million in 2022 and is expected to reach US$ 3,415.24 million by 2030, registering a CAGR of 11.1% from 2022 to 2030. Growing government investments and initiatives for SMEs and expansion of telecom industry are among the critical factors attributed to the Europe unified threat management market expansion.

Small and medium-sized enterprises (SMEs) are significant contributors to economic growth as they account for the majority of businesses (~90%) worldwide. However, due to financial constraints, the growth of SMEs slows down. For instance, according to International Finance Corporation (IFC) estimations, nearly 40% of formal micro, small, and medium enterprises (MSMEs) in developing countries have ~US$ 5.2 trillion in unmet financing that limits their business growth. Thus, the government sector and organizations are constantly supporting SMEs to expand their business, which further contributes to the economic growth of any country.

For instance,

• World Bank Group is focused on improving SMEs' access to finances and obtaining innovative solutions to unlock various sources of capital. It also provides Advisory and Policy Support for SME finance that helps them adopt innovative solutions.
  
  
• In Europe, a network of European Digital Innovation Hubs or the Enterprise Europe Network offers help for SMEs to adopt digital tools securely. They provide solutions such as raising awareness, assessing digital maturity, access to finance, offering mentoring, and facilitating experimentation with digital tools.
  
  Thus, such instance by the government gives rise to SMEs' capability to adopt advanced solutions in order to expand and protect their business digitally. Unified threat management solutions and services offer security to the SMEs' network infrastructure. This solution acts as a layer of protection to the network, based on the connections between each distribution switch layer, and offers a zone-based monitoring and controlling system to protect the network from any possible threats. As SMEs have limited budgets, the support helps them adopt cost-effective unified threat management as an affordable security solution. Thus, all the factors mentioned above drive the Europe unified threat management market.
  
  On the contrary, growing number of integrated solution hampers the growth of Europe unified threat management market.
  
  Based on component, the Europe unified threat management market is bifurcated into solution and services. The solution segment held 76.6% share of the Europe unified threat management market in 2022, amassing US$ 1,129.56 million. It is projected to garner US$ 2,724.16 million by 2030 to expand at 11.6% CAGR during 2022-2030.
  
  In terms of deployment, the Europe unified threat management market is bifurcated into cloud and on-premise. The cloud segment held 75.7% share of the Europe unified threat management market in 2022, amassing US$ 1,115.83 million. It is estimated to garner US$ 2,733.99 million by 2030 to expand at 11.9% CAGR during 2022-2030.
  
  By enterprise size, the Europe unified threat management market is bifurcated into large enterprises and SMEs. The large enterprises segment held 68.6% share of Europe unified threat management market in 2022, amassing US$ 1,011.58 million. It is predicted to garner US$ 2,297.02 million by 2030 to expand at 10.8% CAGR during 2022-2030.
  
  In terms of end users, the Europe unified threat management market is segmented into BFSI, manufacturing, healthcare, retail, government, IT & Telecom, and others. The IT & Telecom segment held 25.7% share of the Europe unified threat management market in 2022, amassing US$ 378.42 million. It is estimated to garner US$ 905.93 million by 2030 to expand at 11.5% CAGR during 2022-2030.
  
  Based on country, the Europe unified threat management market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Germany held 25.6% share of Europe unified threat management market in 2022, amassing US$ 377.45 million. It is projected to garner US$ 990.73 million by 2030 to expand at 12.8% CAGR during 2022-2030.
  
  Key players operating in the Europe unified threat management market are Fortinet Inc; Sophos Ltd.; Cisco Systems Inc; Juniper Networks Inc; Huawei Technologies Co Ltd; Barracuda Networks, Inc.; WatchGuard Technologies Inc; Stormshield SAS; and Check Point Software Technologies Ltd, among others.
  
  2022: Inmarsat has launched Fleet Secure Unified Threat Management (UTM), as a standard option on Inmarsat's award-winning Fleet Xpress service, protecting vessel networks against cyberattacks. Fleet Secure UTM completes a portfolio of Inmarsat cyber security solutions for ship owners, which includes Fleet Secure Endpoint and Fleet Secure Cyber Awareness Training. Developed in partnership with maritime Cyber Security specialist Port-IT, the resilience of Fleet Secure UTM protection is based on its consolidation of multiple network security tools in a single application.
  
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