New York, USA, Dec. 21, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global software defined perimeter (SDP) market is projected to garner $23,132.8 million in revenue and rise at a CAGR of 35.8% throughout the estimated timeframe.
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As per our analysts, with the increasing implementation of cloud technology and the rising necessity of programmable security planning, the market is predicted to experience remarkable growth over the analysis timeframe. Besides, the increasing adoption of cloud-based services in IT and networking systems to minimize the risks from cyber-attacks is expected to fuel the growth of the software defined perimeter (SDP) market over the forecast period. Furthermore, the increasing development of the Internet of Things (IoT) together with SDP-based security systems, is predicted to create immense growth opportunities for the market. However, the lack of awareness about SDP security may hamper the growth of the market throughout the analysis timeframe.
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Segments of the Software Defined Perimeter (SDP) Market
The report has divided the software defined perimeter (SDP) market into different segments namely, connectivity, development mode, organization size, user type, and region.
Connectivity: Gateway Connectivity Sub-Segment to be Most Productive
The gateway connectivity sub-segment is predicted to generate a revenue of $9,114.3 million over the forecast period. This is mainly because of delivering optimum communication security. Further, the effective approach in verifying the identity of the requesting device and providing authorization to the users are expected to bolster the growth of the software defined perimeter (SDP) market sub-segment during the estimated timeframe.
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Development Mode: Cloud Sub-Segment to be Most Beneficial
The cloud sub-segment is predicted to garner a revenue of $11,658.9 million over the estimated timeframe. This is widely due to the broad usage of cloud systems in all types of organizations because of the reliance of a large number of employees in sharing data among them. Moreover, the increasing adoption of cloud-based security than that of on-premises security to avail high-quality security is expected to upsurge the growth of the software defined perimeter (SDP) market sub-segment during the forecast timeframe.
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Organization Size: Large Enterprises Sub-Segment to be Most Gainful
The large enterprises sub-segment is projected to generate a revenue of $12,885.0 million over the analysis timeframe. To maintain huge data along with company information, there is a need for advanced systems to secure the information in large enterprises, this factor is expected to amplify the growth of the software defined perimeter (SDP) market sub-segment during the forecast period.
User Type: Government & Defense Sub-Segment to be Most Profitable
The government and defense sub-segment is predicted to experience steady growth throughout the analysis timeframe. This is mainly due to the massive usage of SDP security systems in the government and defense sector to safeguard weapons with surveillance and intelligence information. In addition, the increasing adoption of enhanced security systems in this sector is further expected to drive the growth of the software defined perimeter (SDP) market sub-segment over the forecast period.
Region: North America Region to Hold the Maximum Share of the Market
The North America region is anticipated to generate revenue of $8,327.8 million during the analysis timeframe. This is mainly due to the continuous technological advancements in this region. Moreover, the growing adoption of the SDP security systems by various enterprises in this region is expected to augment the regional growth of the market over the forecast period.
Key Players of the Software Defined Perimeter (SDP) Market
1. Fortinet, Inc.
2. Catbird Networks, Inc.
3. RSA Security LLC.
4. Intel Corporation
5. Check Point Software Technologies Ltd.
6. CERTES NETWORKS
7. Cisco Systems, Inc.
8. Palo Alto Networks, Inc.
9. Juniper Networks, Inc.
10. Broadcom
For instance, in November 2019, Sonicwall, a leading private company in Silicon Valley, has announced its partnership with Perimeter81, a renowned Israeli cloud, and network security company. With this partnership, the companies are aiming to develop joint solutions for providing modern cybersecurity.
In addition, the report also presents other crucial aspects such as SWOT analysis, the financial performance of the key players, product portfolio, and the latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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