Global Software Defined Perimeter Market Expected to Grow Substantially by 2031 Owing to the Increasing Use of Software Defined Perimeter in Cybersecurity [220-Pages] | Calculations by Research Dive

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Research Dive

06 Apr, 2023, 10:59 GMT

The global software defined perimeter market is expected to grow primarily due to rising cybercrimes across the world. The large enterprise sub-segment is expected to flourish immensely. The market in the North America region is predicted to grow at a high CAGR by 2031

NEW YORK, April 6, 2023 /PRNewswire/ -- Global Software Defined Perimeter Market Forecast Analysis:

As per the report published by Research Dive, the global software defined perimeter market is expected to register a revenue of $1,43,049.2 million by 2031 at a CAGR of 39.3% during the forecast period 2022-2031.

Segments of the Software Defined Perimeter Market

The report has divided the software defined perimeter market into the following segments:

  • Connectivity: controller, gateway, and end point
    • Gateway – Most dominant in 2021
      A gateway consolidates internet access into a single device over a distant network, which is the main benefit of using one in software-defined perimeter contexts. The gateway controls all data directed either within or outside of the network. The growing adoption of gateway connectivity is expected to push the growth of this sub-segment further.
  • Deployment Mode: on-premises and cloud
    • Cloud – Highest market share in 2021
      Cloud computing is gaining popularity because it allows people to work, communicate, and collaborate virtually from anywhere, eliminating the demand for recruiting and/or working locally. The rising adoption of cloud computing is expected to propel the growth of this sub-segment further.
  • Organization Size: large enterprise and small and medium enterprise
    • Large Enterprise – Most profitable in 2021
      To determine if users are secure enough to access the network, a software defined perimeter requires several types of authentications from users. Because of this two-factor authentication, large businesses can recognize an individual even if they have approved user credentials. The growing implementation of software defined perimeter solutions in large enterprises is expected to fuel the growth of this sub-segment further.
  • User Type: Government and Défense, IT and Telecom, Banking, Financial Services, and Insurance, Manufacturing, Healthcare, Retail and Ecommerce, and Others
    • Government and Defense– Most lucrative in 2021
      The growth of this sub-segment is mainly attributable to the growing usage of software defined perimeter security systems in the government and defense sectors for weapon protection that employ surveillance, reconnaissance, and intelligence data.
  • Region: North America, Europe, Asia-Pacific, and LAMEA
    • North America – Significant market share in 2021
      The demand for software defined perimeters is driven by the rising technological advancements and the early adoption of software defined perimeters in the region, which is predicted to propel the market in the forecast period.

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Dynamics of the Global Software Defined Perimeter Market

The growing use of cloud-based systems and the increasing need for security architecture are expected to make the software defined perimeter market a highly profitable one in the forecast period. Additionally, software defined perimeter solutions are gaining popularity because they can work with a variety of gadgets, including desktop computers, laptops, smartphones, and other devices connected to the Internet of Things (IoT), which is predicted to propel the market forward. However, a lack of knowledge about security risks and the potential losses that could result from a software defined perimeter might become a restraint in the growth of the market.

Market players in software defined perimeter industry are constantly working to improve the effectiveness of their software defined perimeter solutions in preventing security breaches, which is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, the growing cloud app usage, stringent regulations, and highly skilled cybersecurity staff are expected to propel the software defined perimeter market forward in the coming period.

COVID-19 Impact on the Global Software Defined Perimeter Market

The COVID-19 pandemic caused numerous uncertainties, resulting in considerable economic losses as various firms around the world ceased operations. Individuals and organizations around the world have had to adapt to new ways of living and working. The COVID-19 pandemic caused several large and small-scale businesses to relocate their operations to digital platforms and the cloud, especially in the IT and digital marketing industries. This is anticipated to increase demand for software defined perimeter solutions over the next few years.

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Key Players of the Global Software Defined Perimeter Market

The major players of the market include

  • Catbird Networks Inc.
  • Fortinet Inc.
  • RSA Security LLC.
  • CERTES NETWORKS
  • Check Point Software Technologies Ltd.
  • Cisco Systems Inc.
  • Juniper Networks Inc.
  • Intel Corporation
  • Palo Alto Networks Inc.
  • Broadcom

These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain market growth.

For instance, in November 2021, BlastWave, a producer of software-defined perimeter (SDP) solutions for network defense against accidental and intentional threats, launched a software defined perimeter solution without a password to combat the top three attack methods.

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What the Report Covers

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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