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Microsegmentation Market To Reach US$ 3,032.3 Million By 2027

The global microsegmentation market was valued at US$ 687.3 Million in 2017 and is expected to surpass US$ 3,032.3 Million by 2027, registering a CAGR of 24.9% during the forecast period (2019-2027), according to Coherent Market Insights market study.

Increasing adoption of integrated data protection and workload isolation in small and medium enterprises (SMEs) is expected to drive the market growth during the forecast period. Microsegmentation in SMEs create secure zones in data centers & cloud deployments and isolate & secure workload individually, as SMEs do not have security measures to protect their data, cloud infrastructure, endpoints, networks, and applications.

The demand for microsegmentation solutions is increasing rapidly across SMEs and large enterprises in order to meet IT security requirements. For instance, Cloudfare launched Cloudfare for teams, a set of solutions that protect company and employee, globally. Cloudflare for teams is a new solution that secures and controls internet traffic in order to protect employees and organization from threats on the public internet.

Moreover, increasing cyber-attacks is also expected to drive the market growth during the forecast period. For instance, in 2018, according to a report given by Engineering Employers Federation (EEF), 48% of manufacturers have suffered from cyber-attacks and 21 % of the manufacturers have lost intellectual property due to cyber-attacks. Microsegmentation is generally used to reduce the number of cyber threats in organizations. For instance, Hillstone Networks, a China-based company who delivers innovative and effective network solutions to enterprise customers, launched Hillstone CloudHive to upgrade its microsegmentation solution for cloud workload protection, and monitor inbound and outbound traffic of virtual machines with correlation analysis.

Global Microsegmentation Market – Impact of Coronavirus (Covid-19) Pandemic:
Globally, most of the countries are affected by COVID-19 and most of the countries have announced lockdown. There is an increase in phishing ransom and malspam attack, as attackers are using COVID-19 as bait to impersonate company brands by misleading employees and customers. Not only businesses are affected by these attacks, end users who download COVID-19 related information are also being targeted through downloading ransom ware disguised as legitimate applications. Cybercriminals are launching COVID-19- themed attacks in the form of phishing mail with a malicious attachment that will disrupt the system and steal important credentials. This, in turn, increases demand for microsegmentation solutions.

Key Trends and Analysis of the Global Microsegmentation Market:

According to Coherent Market Insights research, North America held dominant position in the global microsegmentation market in 2019 and is expected to retain its dominance throughout the forecast period. This is attributed to increasing ransom attacks on connected devices, increasing need for security upgradation, and rising adoption of cloud computing and security virtualization. For instance, in November 2019, IBM Corporation launched the Cloud Pak platform and it is the first innovative technology to connect with cloud or on-premise system without moving data from its source and this technology is used to provide security in the system. Similarly, in November 2019, ExtraHop Networks, a U.S.-based cyber analytics company that helps organizations to understand and secure their network, announced integration between ExtraHop Reveal(x) and Google Cloud Platform (GCP). Google Cloud Platform (GCP) features enable ExtraHop Reveal(x) to analyze network traffic and real-time threat detection, investigation, and response. Through this integration, security teams can protect data and detect most of the critical threats in the organization.

Asia Pacific is expected to show significant growth over the forecast period, owing to increasing adoption of new technologies and digitization. For instance, in February 2020, Huawei Technologies Co. Ltd. launched Digital Payment Cloud Solution. This solution provides real-time digital query experience to both users and merchants. This solution is based on artificial intelligence, and detects fake transactions and avoid cash out risks.

Among services, the managed services segment held a dominant position in the market in 2019 and is expected to retain its dominance during the forecast period. This is owing to the implementation of cloud-based solutions and increased data protection investments by major players in the region. Moreover, growing investment due to the launch of cloud-based technology is driving the market growth. For instance, Cisco System, Inc. launched SecureX, a cloud-native security platform. This solution enables customers to analyze events and data across organizations.

Major players operating in the global microsegmentation market include Cisco Systems Inc. (US), Akamai Technologies, Inc., Palo Alto Networks, Inc., Symantec Corporation, Okta, Inc., Forcepoint, LLC, Cyxtera Technologies, Sophos Group Plc, Google LLC, Microsoft, Inc., VMware Inc., Trend Micro Incorporated, Cloudflare, IBM Corporation, Fortinet, Check Point Software Technologies Ltd., Unisys, vArmour, Inc., OPAQ Networks, Inc., ExtraHop Networks, ShieldX, Bracket Computing Inc., Nutanix, and Cloudvisory

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