Enterprises are expected to invest more in UTM to address the expanding threat landscape
A study conducted by Juniper Research, a renowned cybersecurity research firm, predicts a significant increase in spending on unified threat management (UTM) by enterprises worldwide. The study forecasts a 98 per cent growth in UTM spending between 2023 and 2028, with expenditures rising from $US7.5 billion in 2023.
The complex cyber threat landscape, driven by factors such as increased adoption of enterprise cloud services, the proliferation of IoT devices, and the emergence of AI-powered threats, necessitates the implementation of UTM solutions for robust security. As a result, enterprises are expected to invest more in UTM to address the expanding threat landscape.
UTM refers to an information security approach where a single hardware or software installation offers multiple security functions. This consolidated approach simplifies security protection compared to the traditional method of using separate point solutions for each security function.
Juniper Research’s report, titled “Unified Threat Management Market: Trends, Strategies & Market Forecasts 2023-2028,” provides further insights into the UTM market. Readers can access the report or download a free sample for more information.
The study also includes Juniper Research’s Competitor Leader board for 2023, which ranks the top 17 UTM platforms based on comprehensive evaluation criteria and future business prospects. The top five vendors for 2023 are:
- Cisco Umbrella
- Juniper Networks
- Palo Alto Networks
According to the research, these leading vendors received high scores due to their broad range of protection capabilities and utilization of AI in managing evolving threats and coordinating responses. To maintain a competitive edge, vendors are encouraged to develop advanced Secure Access Service Edge (SASE) solutions. SASE solutions enable consistent security and networking policies for local and remote services, further enhancing overall security.
Nick Maynard, co-author of the report, emphasized that enterprises aim to minimize risk while maximizing the value of their IT investments. UTM enables businesses to consolidate and act upon information in a single location, reducing complexity and costs. The report suggests that the best UTM vendors will leverage AI to automate processes and increase return on investment for businesses.