Cybersecurity Mesh Market by Solutions, Services, Deployment Mode, Vertical, Organization Size and Regional Competitive Landscape

"Increasing cyber threats being faced by organizations has driven the growth of the market"

The global cybersecurity mesh market is projected to grow from an estimated USD 0.9 billion in 2023 to USD 2.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 28.6 % from 2022 to 2027.

Some of the factors driving the market growth include perimeter becoming more fragmented and increasing cyberthreats faced by organizations. However, limited skilled expertise for deployment and usage of cybersecurity mesh solutions is expected to hinder the market growth.

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SMEs segment to grow at highest CAGR during the forecast period

SMEs include firms with employee strength between 1-1,000. As SMEs adopt digital technologies, they are more exposed to the risks of cyberattacks. SMEs adopt cybersecurity mesh solutions to protect their organizations from unauthorized access, vulnerabilities, and attacks. One of the prime motives of attackers targeting SMEs is to access the customer's sensitive data, including personal and other confidential information. According to World Bank's report, SMEs Finance, SMEs play a significant role in most economies, particularly in developing countries. According to the report, 600 million jobs will be created by 2030 for the workforce across the globe. In developing countries, most formal jobs are created by SMEs. It states that 7 out of 10 jobs, in these countries, are created by SMEs. However, there are also several restraints in the functioning of SMEs, which include limited resources and budgets possessed by the SMEs. According to the International Finance Corporation (IFC), 40% of formal small, and medium enterprises in developing countries, have an unmet financing need of USD 5.2 trillion every year. There is also a limitation on the number of employees in the SMEs. Key factors, such as budgetary constraints and lack of skilled expertise, are expected to inhibit the growth of the cybersecurity mesh market.

Cloud segment to grow at highest CAGR during forecast period

In the cloud deployment mode, a third-party service provider takes all the hosting and maintenance requirements. The organization involved in implementing and deploying solutions in the cloud utilizes the pay-as-you-use model. The cloud mode involves built-in data backups and recovery. The maintenance costs are low, and the price is for the resources and space consumed. As the data is shared with the service provider, the security offered is lesser, and the data is at a greater risk. The cloud-based deployment mode has been increasingly being used in recent years. According to the 2022 Cloud Security Report by Check Point, 35% of the respondents in the report have more than 50% of their workloads in the cloud, with 29% stating that they anticipate moving this number up to 75% of workloads in the cloud in the next 12-18 months. Cybersecurity mesh solutions have increasingly used the cloud deployment model in recent years.

As technology rapidly evolves, so do cyber threats. The future of cybersecurity requires innovative solutions to safeguard the ever-expanding digital landscape. Enter the concept of "Cybersecurity Mesh," an emerging approach that promises to revolutionize how organizations protect their assets and data.

Cybersecurity Mesh is a distributed, scalable, and adaptive security model that extends protection beyond traditional network boundaries. In this paradigm, security is woven into every element of the digital ecosystem, creating a dynamic and interconnected defense framework. Instead of relying on a central security hub, Cybersecurity Mesh leverages individual security elements like devices, applications, and users, each equipped with its own security controls and intelligence.

One of the key advantages of Cybersecurity Mesh is its ability to adapt to the modern IT environment. With the proliferation of remote work, cloud computing, and the Internet of Things (IoT), traditional perimeter-based security models have become less effective. Cybersecurity Mesh acknowledges that the network perimeter is fluid, and security must be context-aware and capable of following users and devices wherever they go.

Furthermore, Cybersecurity Mesh enables faster and more precise threat detection and response. By leveraging distributed security intelligence across the entire ecosystem, potential threats can be detected early, and responses can be automated, mitigating damage before it escalates.

Moreover, the future of Cybersecurity Mesh will likely see the integration of advanced technologies such as artificial intelligence and machine learning. These technologies can analyze vast amounts of security data, identify patterns, and predict potential threats, enhancing the overall security posture of organizations.

However, challenges remain for the adoption of Cybersecurity Mesh, including interoperability among diverse security systems and the need for robust data privacy measures.

In conclusion, the future of Cybersecurity Mesh holds the potential to provide a resilient and adaptable defense against evolving cyber threats. By embracing this distributed and interconnected security model, organizations can enhance their cyber resilience and protect their digital assets in an increasingly complex and interconnected digital world. As the cybersecurity landscape continues to evolve, Cybersecurity Mesh emerges as a formidable defense mechanism to safeguard the digital future.

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