New York, USA, March 21, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Research Dive, the global software defined perimeter market is anticipated to rise at a stable CAGR of 39.3%, thereby garnering a revenue of $1,43,049.2 million by 2031. This comprehensive Research Dive report presents a brief outlook of the current framework of the software defined perimeter market including its priority features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2022-2031. The report also contains all the crucial market figures to help new entrants understand the market easily.
Dynamics of the Market
Drivers: Growing demand for security architecture across the globe is predicted to be the primary growth driver of the software defined perimeter market in the forecast period. Additionally, rising use of cloud-based systems is expected to further drive the market forward.
Opportunities: Rising adoption of advanced technologies like Internet of Things is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, growing applications of software defined perimeter solutions in cybersecurity is anticipated to augment the growth rate of the market.
Restraints: However, lack of awareness about software defined perimeter solutions may restrict the growth of the software defined perimeter market in the forecast period.
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Impact of Covid-19 on the Market
The novel coronavirus pandemic and the resulting lockdowns impacted the software defined perimeter market in a positive way. The lockdowns and travel restrictions compelled IT and software companies to shift their businesses to cloud systems which increased the demand for software defined perimeter solutions to protect the data. This increased demand led to a surge in the market in the pandemic period.
Segments of the Market
The report has fragmented the software defined perimeter market into segments based on connectivity, deployment mode, organization size, user type, and region.
Connectivity: Gateway Sub-segment to be Highly Profitable
The gateway sub-segment of the software defined perimeter market is expected to have a high market share by 2031. The advantage provided by gateways in consolidating internet connectivity into a single device via a remote network is predicted to be the primary growth driver of the sub-segment in the forecast period.
Deployment Mode: Cloud Sub-segment to be the Most Lucrative
The cloud sub-segment is expected to have the fastest growth rate by 2031. The ability of cloud computing to improve software defined perimeter outcomes by increasing productivity and cooperation is anticipated to help in the growth of this sub-segment.
Organization Size: Large Enterprise Sub-segment to Grow Rapidly
The large enterprise sub-segment of the market is expected to garner a huge market share by 2031. Increasing use of security defined perimeter solutions by large enterprises to protect financial, legal, and company data is predicted to be the primary growth driver of the sub-segment in the forecast period.
User Type: Government and Defense Sub-segment to Flourish Immensely
The government and defense sub-segment is expected to grow rapidly by 2031. A massive surge in the use of software defined perimeter security systems by government and defense sectors for weapon protection using surveillance, reconnaissance, and intelligence information is anticipated to help in the growth of this sub-segment.
Market in the North America Region to be Most Dominant
By regional analysis, the software defined perimeter market in North America region is predicted to grow rapidly in the 2022-2031 timeframe. Growing adoption of software defined perimeter solutions by various businesses in this region is expected to become the main growth driver of the market in this region.
Prominent Market Players
Some leading players in the software defined perimeter market are
- Fortinet Inc.
- Check Point Software Technologies Ltd.
- Palo Alto Networks Inc.
- Catbird Networks Inc.
- CERTES NETWORKS
- Juniper Networks Inc.
- RSA Security LLC.
- Broadcom
- M Intel Corporation
- Cisco Systems Inc.
These players are formulating numerous business strategies like mergers, acquisitions, and collaborations to get a commanding position in the market.
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For instance, in November 2021, BlastWave, a software defined perimeter solutions development company, announced the launch of BlastShield™, an advanced password-less software defined perimeter solution. This SDP solution, running on a zero-trust security model, is predicted to help the company to increase its footprint in the market in the near future.
Finally, this comprehensive report also summarizes many crucial aspects of the global market including product portfolio, latest strategic developments, financial performance of the key players, and SWOT analysis.
More about Software Defined Perimeter Market:
- 3 Reasons Why Software Defined Perimeter (SDP) is Better than VPN
- Global Software Defined Perimeter Market to Generate $1,43,049.2 Million by 2031, Owing to Increased Use of Software Defined Perimeters in Cybersecurity
