Global Secure Access Service Edge (SASE) Market 2023-2030

Global Secure Access Service Edge (SASE) Market 2023-2030

Global Secure Access Service Edge (SASE) Market Size, Share & Trends Analysis Report by Type (Network as a Service, Security as a Service), and by end-user (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunication, Retail, Healthcare, Others) Forecast Period (2023-2030)

The Secure Access Service Edge (SASE) market is anticipated to grow at a CAGR of 23.2% during the forecast period (2023-2030). Secure Access Service Edge (SASE) provides converged network and Security as a Service (SaaS) capabilities, such as SD-WAN (Software Defined Network), SWG (Software-as-a-Service), CASB (Network as a Service), NGFW (Network as a Global Service) and ZTNA (Zero Trust Network Access). SASE supports multiple use cases such as branch offices, remote workers, and on-premises secure access and is mainly delivered as a service. It provides zero trust access, based on the device or entity’s identity, in a real-time context with security and compliance policies.

Segmental Outlook

The global SASE market is segmented by type and end-user. By type, the market is sub-segmented into network as a service and security as a service. By end-user, the market is sub-segmented into Banking, Financial Services, and Insurance (BFSI), IT and Telecommunication, retail, healthcare, and other end-users such as government organizations and the manufacturing sector. Among the end-users, the demand for SASE is growing in the BFSI sector. BFSI organizations are increasingly targeted by cyberattacks, as they hold large amounts of sensitive data including financial and personal information. Although with adoption of technology in BFSI is growing, there are still significant cyber gaps in the global BFSI sector. According to the International Monetary Fund (IMF) survey of 51 countries, among emerging markets and developing economies, most financial supervisors haven’t introduced cybersecurity regulations or built resources to enforce them. Also, 56% of the central banks or supervisory authorities do not have a national cyber strategy for the financial sector. But with increasing cyber threats, regulators are focusing on improving policies which is driving demand for SASE in the BFSI market. With growing demand, global SASE market players are also focusing on partnerships with BFSI industries and product development for the BFSI sector. For instance, In November 2023, Proximus NXT announced an extension of its IT partnership with Belfius, the Belgian financial institution. This three-year agreement, valid until 2026, focuses on enhancing network infrastructure, connectivity, and collaboration tools. Secure Access Service Edge (SASE) will play a pivotal role in securing Belfius' workplace and branch connectivity, which will help to enable seamless hybrid work arrangements. Proximus NXT will also provide software-defined wide-area networking (SD-WAN), internet access, and cloud connectivity solutions. Additionally, the operator will manage LAN and wireless LAN (WLAN) services for Belfius' headquarters and over 750 banking and insurance branches nationwide. This includes upgrading to new Wi-Fi 6 access points and modernizing local networks to support increased employee mobility.

The Demand for Secure access service edge (SASE) Is Expected to Grow in the Government sector.

In the government sector, the demand for SASE is growing owing to factors such as comprehensive security, support for remote work, scalability, and compliance-enhancing features, addressing the evolving needs of government agencies. Additionally, the growing focus on data privacy and compliance within government operations is also driving demand for SASE solutions as it provide a better security approach, including zero trust principles, ensuring data protection and regulatory compliance. Also, there has been significant growth in cyber attacks on government organizations. For instance, in May 2023, the advanced persistent threat (APT) known as SideWinder employed spear-phishing lures to target Pakistani government officials, primarily focusing on subjects related to the Pakistani military and US-Pakistan relations. Following the initial campaign against Pakistan, the group utilized the same set of command-and-control servers to distribute payloads in Turkey. The incident was reported in the Cyber Operations Tracker. Growing cyber threats and phishing attempts on government entities are also driving demand for SASE solutions in government organizations.

Regional Outlook

The global Secure access service edge (SASE) market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among regions, North America holds a significant share in the global SASE market. North American region has a significant presence of end-user industries such as IT and telecommunications, military, and BFSI among others with major market players such as Amazon, Google LLC, and Microsoft corporation headquartered in the US. The growing adoption of technologies such as cloud-based services and network automation is also contributing to the growth of the regional SASE market. Additionally, with rapid digital transformation among businesses in the region, there has been significant growth in cyber threats which is pushing businesses and government organizations to focus on network security infrastructure and solutions which is expected to contribute to the growth of the SASE market. Additionally, the US has also focused on improving policies and regulations to curb cyber threats. For instance, in March 2023 the US released the National Cybersecurity Strategy which is focused on protecting critical infrastructure, including hospitals and clean energy facilities, from cyber threats, and increasing collaboration with international coalitions and partnerships to counter threats to the digital ecosystem. In October 2022, the US Army announced plans to offer a contract vehicle of about $1 billion for migrating existing systems to the cloud. Under this development, the army is focused on Identity, credential, and access management (ICAM) and secure access service edge (SASE).

The Secure Access Service Edge (SASE) Market Is Expected to Grow Significantly in the Asia Pacific Region

Asia Pacific is expected to be the fastest-growing SASE market. The region has witnessed significant growth in the adoption of cloud-based services, network infrastructure investments, and adoption of remote work. Also, the region has a significant presence of end-user industries. According to the India Brand Equity Foundation in FY22, the IT sector contributed 7.4% of India's GDP, and by 2025, it is anticipated to make up 10% of India's GDP. Also, India is one of the fastest-growing fintech markets globally. India has 3rd largest fintech sector globally and is expected to reach US$ 150 billion by 2025. Considering the growing digitization and demand for data privacy and network security in the region, the SASE market players are focusing on market expansion in the Asia Pacific region by collaborating with regional companies. For instance, in May 2023, CBC Tech, a network-as-a-service provider, formed a partnership with Fortinet, a cybersecurity provider to provide Secure Access Service Edge (SASE) solutions for enterprises in China. Also in October 2023, Fortinet, announced two dedicated data centers in India to expand the reach and availability of Fortinet Universal SASE, FortiGuard AI-Powered Security Services, and FortiCloud for customers across India and the South Asian Association for Regional Cooperation (SAARC).

Market Players Outlook

The major companies serving the global SASE market are Cato Networks Ltd., Fortinet Inc., Check Point Software Technologies Ltd, and Cloudflare Inc. among others. Companies are focusing on mergers and acquisitions and new product developments to stay competitive. For instance, in November 2023, Palo Alto Networks revealed its definitive agreement to acquire Talon Cyber Security, a provider of enterprise browser technology. The deal, valued at over $600 million, is a part of the company’s strategy to expand the Secure Access Service Edge (SASE) solution to both managed and unmanaged devices.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the SASE market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.