Dell’Oro Group Research Ranked Vendors Based on 3Q 2023 Worldwide Revenue; Reveals Worldwide SASE Market Annual Revenue will Increase to More Than $10B in 2024
Santa Clara, Calif. – Dec. 19, 2023 – Versa Networks, the global leader in AI/ML-powered Unified Secure Access Service Edge (SASE) and Software-Defined WAN (SD-WAN), today announced it has once again been ranked as the current worldwide Unified SASE market share leader, commanding nearly 40 percent of the global market share in 3Q 2023 revenue, according to the Dell’Oro Group 3Q 2023 SASE & SD-WAN Quarterly Report. This follows Versa Networks’ previous consecutive rankings as the global Unified SASE market share leader for the entire years of 2020, 2021, and 2022, according to Dell’Oro Group, the trusted source of market information about the telecommunications, security, networks, and data center infrastructure industries.
In Q3 2023, the worldwide overall SASE market (encompassing the SD-WAN and SSE markets) revenue was $2.2 B, representing 33% revenue growth and the 15th consecutive quarter exceeding 25% growth. Overall, Dell’Oro Group anticipates that the worldwide SASE market revenue will grow 33% to $8.5 B in 2023, and 25% to $10.6 B in 2024.
“SASE is a service-centric, cloud-based technology solution that provides network connectivity and enforces security between users, devices, and applications,” said Mauricio Sanchez, Sr. Research Director, Enterprise Networking and Security at Dell’Oro Group. “Organizations are embracing the Unified SASE approach which delivers these capabilities as a unified, tightly integrated service that increases network scalability, agility, and security. As a result of Versa’s market performance, we again rank them as the current worldwide Unified SASE market share leader based on our recent report.”
Unified SASE, as described by Dell’Oro Group, represents a consolidated and highly integrated approach to Secure Access Service Edge (SASE). It combines networking and security services into a single platform from a single vendor and utilizes a unified policy repository for both network and security policies.
Dell’Oro Group’s latest SASE & SD-WAN Forecast Report predicts that the Unified SASE market will experience substantial growth with a 5-year (2022 to 2027) 32% revenue compound annual growth rate (CAGR). This growth is expected to outpace the Disaggregated SASE approach, which is forecast to grow at a 5-year 15% revenue CAGR, indicating that customers prefer the simplicity offered by Unified SASE.
Furthermore, the report indicates that the single-vendor SASE market is projected to grow faster (5-year 22% revenue CAGR) than multi-vendor SASE (5-year 12% revenue CAGR), as customers prefer a one-stop shop for SASE.
“We are excited to again be recognized as the current worldwide Unified SASE market share leader,” said Dan Maier, CMO for Versa Networks. “The results validate the demand for a unified approach to convergence of networking and security functions. The ability for organizations to accelerate their support for hybrid work and cloud services, reduce the complexity and cost of their infrastructure, and enhance their security is compelling. Versa SASE delivers a future-ready framework that addresses both the current and emerging networking and security challenges faced by businesses today.”
About Versa Unified SASE
Versa’s AI/ML-powered single-vendor Unified SASE delivers organically developed best-of-breed functions that tightly integrate and deliver services via the cloud, on-premises, or as a blended combination of both, managed through a single pane of glass. Versa delivers SASE services such as Secure SD-WAN, Next-Generation Firewall, Next-Generation Firewall as a Service, Cloud Network Firewall, Unified Threat Management (UTM) including Advanced Threat Protection (ATP), Secure Web Gateway (SWG), Zero Trust Network Access (ZTNA), Cloud Access Security Broker (CASB), Data Loss Prevention (DLP), Remote Browser Isolation (RBI), and User and Entity Behavior Analytics (UEBA). Versa’s single-vendor Unified SASE platform goes above and beyond management console automation by providing the ability to integrate networks, points of presence, policy definitions, application definitions, agent logic, and data lakes.
About Dell’Oro Group
Dell’Oro Group is a market research firm that specializes in strategic competitive analysis in the telecommunications, security, enterprise networks, and data center infrastructure markets. The firm provides in-depth quantitative data and qualitative analysis to facilitate critical, fact-based business decisions. For more information, contact Dell’Oro Group at +1.650.622.9400 or visit https://www.delloro.com.
About Versa Networks
Versa Networks, the leader in single-vendor Unified SASE platforms, delivers AI/ML-powered SSE and SD-WAN solutions. The platform provides networking and security with true multitenancy, and sophisticated analytics via the cloud, on-premises, or as a blended combination of both to meet SASE requirements for small to extremely large enterprises and Service Providers. Thousands of customers globally with hundreds of thousands of sites and millions of users trust Versa with their mission critical networks and security. Versa Networks is privately held and funded by Sequoia Capital, Mayfield, Artis Ventures, Verizon Ventures, Comcast Ventures, BlackRock Inc., Liberty Global Ventures, Princeville Capital, RPS Ventures and Triangle Peak Partners. For more information, visit https://www.versa-networks.com or follow Versa Networks on X (Twitter) @versanetworks.
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