ID: MRFR/ICT/4007-HCR | February 2021 | Region: Global | 100 pages
According to Software Defined Perimeter Market Analysis, the market will grow at a CAGR of 35%. It is estimated that the market will reach up to USD 7899 Million during the forecast period. The Software definer perimeter is an advanced solution that is used for handling customer data without human interference. It is has a secure programmable architecture that supports systems for the future.
The Software perimeter system ensures that the system is secure and authentic before processing any task. It is used for various purposes among the service providers such as telecom, cloud, and enterprises as well. One of the major driving factors of the Software Defined Perimeter Market is the rising need for security architecture and the growing use of cloud-based systems. Also, in the future, this system can be used for military security and other various purposes.
Various key players in the Software Defined Perimeter Business such as Symantec Corporation, Juniper Networks, and many more are projected to fuel the market growth in the upcoming period. However, the negative impact of COVID-19 disease and other restraining factors are projected to hinder the market growth to some extent. These key players are anticipated to enhance the growth of the Software Defined Perimeter Business with several market strategies.
It is estimated that the North American region will hold the largest market share during the forecast period. Also, technological advancements and supportive policies by the government will be favorable for the market. The Software Defined Perimeter helps to lessen the complications that are found in cloud-based services. Hence, the market will be substantial despite several restraining factors that can affect Software Defined Perimeter Market Trends.
Due to the COVID-19 Outbreak, the market in various regions faced huge losses. It hindered the upcoming projects and plans that now will take much more time. However, the drastic shift towards digitalization and cloud-based systems has fuelled the need for a sustainable system. This need is projected to be beneficial for the Software Defined Perimeter Market Growth. Also, the growing demand for SDP systems and various government initiatives are expected to propel market growth.
Software Defined Perimeter Market Dynamics
The major divers according to the Software Defined Perimeter Market Research Report are the rising need for enhanced systems. These systems help to safeguard the systems used among various enterprises. It is because the rapid technological advancements and growing use of cloud-based systems make them vulnerable to cyber-attacks. Along with that, other applications such as BYOD and the Internet of Things (IoT) will drive the market.
One of the major restraints for the Software Defined Perimeter Industry is the low awareness or the cyber-security. Also, the rising use of other security applications will hinder the market in the future. However, the market will grow at a substantial rate despite these restraints.
The Software Defined Perimeter Industry offers security and other important factors cost-effectively. It helps to lessen the complexities that occur while managing the systems. Also, the cloud-based systems enhance the VPN tunnels to resolve security problems.
To work with the software-defined systems, the enterprises need advanced and upgraded systems. For that, it requires an upgraded system which is not possible among underdeveloped countries. Hence, due to a lack of knowledge about the security systems, it will be challenging for the Software Defined Perimeter Industry to grow.
With the growing technological advancements and use of Software-defined perimeter systems, the market will grow at a substantial rate. The Software Defined Perimeter Industry is projected to grow at a Compound Annual Growth Rate (CAGR) of 35%. It is estimated that the market value will reach up to USD 7899 Million during the forecast period 2017-2023.
Value Chain Analysis
The Software Defined Perimeter Industry is expected to be valuable and will have a huge demand during the forecast period. The cloud-based systems and security benefits will enhance the market in the upcoming period. Key players and another business initiative will improve the market growth.
The Software Defined Perimeter Market Segments are- end-users, enforcement point, organization size, deployment, and components. On the basis of components, the market is further divided into services and solutions. The services segment is further divided into Maintenance and Support, Consulting and Testing, Education and Training, and Integration. After that, the solution segment is further divided into Security Services, Risk Analytics, and Visualisation and Access Control. Other sub-segments are-Data Loss Prevention, IDs, Reporting and Performance Management, Security Compliance and Orchestration, Automation Solution, and Policy management.
On the basis of End-Users, the Software Defined Perimeter Industry is further divided into Wholesale and Retail, Logistics and Transportation, IT and telecommunication, Hospitality, Entertainment and Media, BFSI and Life Science, and Healthcare.
Software Defined Perimeter Industry on the basis of enforcement, the market is further divided into gateway and Controller.
On the basis of organization size, the market is segmented into Medium Enterprises and Small Enterprises.
On the basis of deployment, the Software Defined Perimeter Business is further divided into On-Premise and Cloud-based Systems.
Software Defined Perimeter Market Regional Analysis
Geographically, the Software Defined Perimeter Business is divided into North America, Asia-Pacific, Europe, and the Rest of the World. It is anticipated that the North American Region will dominate the market. Various technological advancements and early adoption of new technology are the major drivers for the growth. However, it is projected that the Asia-Pacific region will experience the fastest growth during the forecast period. The growing number of medium and small enterprises and cloud-based systems will increase the growth.
There are various key players in the Global Software Defined Perimeter Market. They use different strategies such as acquisitions, mergers, partnerships, and many more. Some of the major Software Defined Perimeter Market Players are as follows-
The overview of the Software Defined Perimeter Market is as following-
Report Score and Segmentation
The scope of the report is to give information about the Software Defined Perimeter Market. The report gives ample information about the restraints, opportunities, restraints during the forecast period. It also gives information about key players. The information provided in this report is collected from various primary and secondary sources.
Frequently Asked Questions (FAQ) :
The software defined perimeter market can thrive at 35% CAGR between 2017 and 2023.
By 2023, the valuation of the software defined perimeter market can touch USD 7899 Mn.
Check Point Software Technologies Ltd. (Israel), Intel Corporation (U.S.), and Cisco Systems, Inc. (U.S.) are prominent players of the software defined perimeter market.
The growing need for programmable security architecture can boost the software defined perimeter market growth.
North America boasting of rapid advancements in technologies can cause a surge in the regional software defined perimeter market.