North America remains the leading region in the software defined perimeter market with revenues in 2020 estimated at US$ 951.3 Mn
The global software defined perimeter market is anticipated to reach value of ~US$ 40.1 Bn by 2030. The software defined perimeter market is projected to expand at a CAGR of 31% from 2020 to 2030 in terms of revenue. The growth of the software defined perimeter market is due to increasing need for policy-based security architecture to reduce network complications, and growing demand for cloud-based applications across enterprises. During the forecast period, North America is anticipated to emerge as the leading software defined perimeter market, followed by Europe and Asia Pacific.
Key Growth Drivers of Software Defined Perimeter Market
Rising need for security mechanisms to protect enterprise data from advanced threats: Most organizations are now storing, computing, and networking through cloud-based infrastructure. This migration is driven by cost-efficiency, flexibility, and agility associated with cloud infrastructure. Cloud-based technology demands sharing of resources in the network, while enterprise security is based on isolation of resources at each level. The threat of network attacks against application infrastructure has increased with the adoption of the cloud technology, since servers cannot be protected with traditional perimeter defense techniques. Thus, increasing cloud deployment demands a security infrastructure model compatible to cloud technology, while preventing advanced security threats.
Increasing demand for simplification in security infrastructure: The shift from traditional VPNs to advanced hybrid and cloud technology requires implementation of additional security layers, at each level of the networking stack, which makes the system very complex to handle. This can be easily overcome in the SDP model, as it eliminates the need to add extra networking layers. The SDP model simplifies the security process by creating an ‘invisible infrastructure,’ and it excludes the complexity involved in configuring and installing traditional physical controls by combining layers with similar functionalities.
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Software Defined Perimeter: Market Segmentation
The global software defined perimeter market has been segmented in terms of component, deployment, application, end user, and region. Based on component, the market has been classified into software and services. Based on application, the authentication segment dominated the global software defined perimeter market in 2019. Based on deployment, the software defined perimeter market has been bifurcated into cloud and on-premise. In terms of end user, the healthcare segment dominated the global software defined perimeter market in 2019.
Software Defined Perimeter Market: Regional Outlook
In terms of region, the global software defined perimeter market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to dominate the software defined perimeter market during the forecast period. The U.S. is estimated to hold a notable share of the software defined perimeter market in North America and the market in the country is projected to expand at a CAGR of 28.8% during the forecast period, as the maximum number of enterprises within North America are based in the U.S. Asia Pacific held a substantial share of the global software defined perimeter market in 2019 with China, India, and Japan being the major markets in the region. The software defined perimeter market in Europe, Middle East & Africa, and South America is also projected to expand moderately during the forecast period.
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The report provides in-depth segment analysis of the global software defined perimeter market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the software defined perimeter market.
Software Defined Perimeter Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global software defined perimeter market. Key players profiled in the report include Akamai Technologies, AppGate, Cisco Systems, Inc., Certes Networks, Inc., Check Point Software Technologies Ltd., CloudPassage, Cryptzone North America Inc., Dell Technologies Inc. (DELL EMC), Fortinet, Inc., Intel Corporation, Juniper Networks, Inc., Okta, Inc., Palo Alto Networks, Perimeter 81 Ltd., Proofpoint, Inc., Symantec Corporation, Trusted Passage, VeloCloud Networks, Inc., Verizon, and Vidder, Inc.
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Source: EIN Presswire