New York, US, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Market Analysis
According to a comprehensive research report by Market Research Future (MRFR); Software-Defined Security Market Research Report By Component, By Enforcement Point, By Deployment Mode, By End-Users Forecast till 2030. The global software-defined security market will touch USD 57.36 billion at a 29.51% CAGR by 2030, according to the current Market Research Future report.
Software-Defined Security Market Key Players
Eminent industry players profiled in the global software-defined security market report include:
- Intel Corporation (California)
- Juniper Networks (California)
- Cisco Systems (California)
- Dell Inc. (US)
- Symantec Corporation (California)
- Check Point Technologies (Israel
- Palo Alto Networks (California).
- Catbird Networks Inc (US)
- Versa Networks Inc (US)
- Citrix Systems Inc (US)
- Certes Networks Inc (US)
- Cloud Passage Inc (US)
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Drivers
Perks of Virtualization to Boost Market Growth
Virtualization offered by software defined security lowers capital & operating costs, remote management, device footprint, centralizes security management, streamlines deployments, and makes system upgrades simple. In the coming years, this factor would stimulate demand for and expansion of software defined software.
Opportunities
Rising Network Infrastructure Automation Trend to offer Robust Opportunities
The rising network infrastructure trend and digitalization of existing 4G and 3G networks will offer robust opportunities for the market in the forecast period.
Restraints
Increasing Concerns regarding Security to act as Market Restraint
The increasing concerns regarding security, configuration complexity and latency may act as market restraints over the forecast period.
Software-Defined Security Market Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 57.36 Billion |
| CAGR during 2022-2030 | 29.51% |
| Base Year | 2019 |
| Forecast | 2020-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | Digital protection exercises are presently being focused on and adjusted to key business exercises to limit IT assets' harm, which gives significant development freedom to the software-defined security market. |
| Key Market Drivers | The installment security market's significant development drivers incorporate expanded appropriation of advanced installment modes |
Challenges
Lack of Technical Expertise to act as Market Challenge
The lack of technical expertise and the lack of industry regulations may act as market challenges over the forecast period.
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Market Segmentation
The global software-defined security market is bifurcated based on component, enforcement point, deployment mode, and end-user.
By component, services will lead the market over the forecast period.
By enforcement point, the market is bifurcated into server security, application & mobile device security, network security gateways, and others.
By deployment mode, cloud will domineer the market over the forecast period.
By end user, cloud service providers will spearhead the market over the forecast period.
COVID-19 Analysis
There are many workers who work remotely, and they frequently use personal devices and must access sensitive company infrastructure from less secure locations, such as their residences. Due to these circumstances, there are more instances of cyber-attacks directed at such personnel, which could jeopardize the security of business data and the personal information of other employees who are connected to the same network.
Many businesses have invested significantly in strong software defined security solutions for their employees to strengthen the protection of the company's and the employees' assets in order to prevent such a situation from occurring. Software-based firewalls & intrusion detection systems have grown in popularity throughout the pandemic and were swiftly put into employees' systems to bolster the security perimeter of such systems.
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Regional Analysis
North America to Head Software-Defined Security Market
The significant advancement of the technical aspects is the main emphasis of North America's market dominance in this industry. In this situation, people and organizations tend to accept and assimilate the new advances in workplace culture.
Consequently, software-defined protection has experienced rapid expansion. Profiting from its dominance in infrastructure, the region is witnessing a proliferation of the sector across all vertical industries. The region may also take pride in the significant presence of some commercial behemoths that help to shape the continental economy and have a lasting impact on the world market. The biggest market share is anticipated to be held by North America during the forecast period.
By implementing cutting-edge security solutions, the businesses in the province are eager to improve their security posture and speed up the market's expansion in the next years. Additionally, these solutions have the best adoption rates in the country. The market is expanding in this sector as a result of elements including the presence of numerous significant businesses, an increase in cyber-attack incidents, and an increase in the number of hosted servers in the nation.
One of the biggest markets for cloud software defined security is the United States. This can be explained via the existence of major players, the increase in the frequency of cyber-attacks, and the expansion of hosted servers in the nation. About 63% of the world's privately-owned cyber security organizations are based in the United States, which is also home to several cloud security providers. Before introducing them globally, the majority of businesses test out their new services in their home countries.
APAC to Have Admirable Growth in Software-Defined Security Market
Asia-Pacific is seeing a sharp surge in the amount of unstructured data being generated by the region's diverse businesses and being stored both on-premise and in cloud environments. Additionally, the amount of data generated at the edge is growing quickly due to the widespread use of IoT in the area.
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These elements have aided in the development of a scalable storage system that is secure and dependable. The region offers attractive business for software-defined storage (SDS) manufacturers because high-density nations like China and India still rely on conventional hardware for their storage and need to undergo digital transformation to keep up with technological developments.
According to FalconStor, a well-known US vendor that provides SDS through Huawei in China, customers and businesses throughout Asia, including China, are optimistic about switching to modern storage and represent one of the largest potential markets for IT services. The tendency to change stemmed mostly from the need to address issues with data protection, disaster recovery, and the integration of virtual and non-virtualized resources.
The demand for remote storage services has been primarily driven by hyper-scale and global digital media content providers as well as public cloud service providers like Facebook, Amazon Web Services (AWS), Google, and Alibaba Cloud. Over the past few years, these companies have significantly increased their uptake of data centre capacity in the Asian region, particularly in Hong Kong.
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