Worldwide security appliance market hits $17.6 billion in 2023

The total market revenue in the worldwide security appliance market reached $17.6 billion for the full year 2023, an increase of $868 million compared to 2022, according to IDC.

IDC completed an update to its Security Appliances taxonomy and applied these changes in the first quarter of 2023. This resized the market by removing revenues associated with software and services that do not qualify for reporting in the new hardware market view. These changes were incorporated into the Security Appliance Tracker starting with the 2Q23 results and include Vendor Revenue (new hardware revenue) and Renewals/Firmware update revenue. IDC will use “Total Market Revenue” as the basis to calculate market share going forward.

“The security appliance market remains a key component in cybersecurity investments as we continue to observe additional subscription services running on top of hardware-based security platforms. Through 2023 the release of new product families with enhanced performance, including the introduction or strengthening of AI capabilities, improved throughput and energy efficiency, are allowing customers to increase their budget efficiency,” said Carlo Dávila, research manager, Enterprise Trackers at IDC.

Regional Highlights

From a regional perspective, the Americas region delivered 5.1% total market revenue growth in the fourth quarter of 2023, offsetting a decline of 4% in the Asia/Pacific region. In Europe, the Middle East, and Africa (EMEA), the Central & Eastern Europe region increased total market revenue 15.1% year over year, while Western Europe grew 4.6% and the Middle East & Africa declined 17.7%. For the Americas, Canada (10.4% year over year growth) and Latin America (7.6% growth) saw dynamic revenue growth in 4Q23.

IDC