SASE Market Sizzles with 38 Percent Revenue Growth in 2Q 2023 and Topped $2 Billion for the Firs…>
– Dell’Oro Group
According to a recently published report from Dell’Oro Group, a trusted source for market information in the telecommunications, security, networks, and data center industries, the Secure Access Service Edge (SASE) market has exhibited remarkable growth in the second quarter of 2023.
The SASE market, encompassing SD-WAN (Software-Defined Wide Area Network) and SSE (Security Service Edge) solutions, demonstrated a 38% year-over-year revenue increase.
This growth has propelled the quarterly revenue to surpass the $2 billion mark, setting a new record in the industry.
Notably, the revenue has doubled in just ten quarters as enterprises prioritize enhancing their networking and security services in the mobile and cloud-first era.
Even in the current macroeconomic environment, characterized by longer sales cycles and increased budget scrutiny, the strength of the SASE market has been pleasantly surprising.
Mauricio Sanchez, the Senior Research Director for Enterprise Networking and Security at Dell’Oro Group, emphasized the superior architecture of SASE in providing users with secure access to cloud-based applications from anywhere.
Beyond the ability to provide secure access, SASE solutions are expanding into areas such as end-to-end network application monitoring and data protection.
This broader functionality significantly enhances the appeal of SASE to customers.
Sanchez highlighted that while customers consider SD-WAN and SSE’s SWG (Secure Web Gateways), CASB (Cloud Access Security Broker), ZTNA (Zero Trust Network Access), and FWaaS (Firewall-as-a-Service) functionalities as the baseline requirements, vendors that can deliver value to adjacent areas have the potential to differentiate themselves in this crowded market.
The 2Q 2023 SASE and SD-WAN Quarterly Report also revealed noteworthy insights.
Cisco regained the number one revenue spot in the overall SASE market, overtaking Zscaler, which had seized the top spot in the previous quarter.
The top five vendors in the overall SASE market were Cisco, Zscaler, Palo Alto Networks, Broadcom (Symantec), and Fortinet, reflecting the competitive landscape of the industry.
Moreover, the report highlighted the growth of revenue associated with single-vendor SASE solutions, which offer both SD-WAN and SSE functionalities.
This segment experienced a nearly 70% year-over-year growth and represented over half of the SASE market.
The leading single-vendor SASE vendors in terms of revenue were Cisco, Palo Alto Networks, Fortinet, Netskope, and Versa Networks.
The impressive growth of the SASE market indicates the increasing adoption of these solutions by enterprises seeking to enhance their network security, optimize connectivity for remote and mobile workers, and successfully navigate the cloud-centric technological landscape.
As SASE continues to evolve and expand its capabilities, it presents significant opportunities and challenges for vendors to differentiate themselves and cater to the evolving needs of organizations in an increasingly interconnected world.
Link: https://www.prnewswire.com/news-releases/sase-market-sizzles-with-38-percent-revenue-growth-in-2q-2023-and-topped-2-billion-for-the-first-time-according-to-delloro-group-301922539.html