• 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, California – 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.”