Software Defined Perimeter Market Size Projected to Generate a Revenue of $1,43,049.2 Mn by 2031Download Sample Reports Overview
The Global Software Defined Perimeter Market Size is predicted to be valued at $1,43,049.2 million by 2031, surging from $ 5,308.1 million in 2021, at a noteworthy CAGR of 39.3%
Impact Analysis of COVID-19 on the Software Defined Perimeter Market
The COVID-19 pandemic has led to severe disruptions that have affected demand, supply, and import-export across various industries. During the COVID-19 pandemic, digital technology grew stronger and more pervasive in both personal and professional lives. During the COVID-19 disaster, big data and predictive analytics assisted in tracking surface signs connected to pandemics. The scope and impact of COVID-19 outbreaks have been identified and predicted by policymakers and researchers with the aid of data-driven viewpoints in real-time. Significant data events combining and synthesizing COVID-19 monitors assist epidemiologists, authorities, health professionals, and policymakers in making more informed decisions to combat the epidemic. Additionally, endpoint monitoring of GPS data displaying people's movements inside a specific area enables the authorities to assess if the populace is adhering to rules for social distance. Many decision-makers can benefit from big data analytics as they make difficult decisions that affect workers, customers, and organizational capacity. Businesses, for instance, use internal and external data to explore several scenarios for sustainable development before and after the COVID-19 epidemic, such as communication backdrops for clients, personnel information, tracking business operations, and social media. Global businesses are spending more and more on public cloud services. In the COVID-19 scenario, where organizations are being required to work with fewer staff, an increase in demand for cloud infrastructure services and increased expenditure on software defined perimeters are quite beneficial.
Global Software Defined Perimeter Market Analysis
Software defined perimeter solutions restrict access to a specific user role, a user group, or an individual user. It can hide any data from strangers, including the addresses of domain name system servers. As a result, identified users can only connect to resources to which they have access; others are hidden from them. Therefore, many organizations and government agencies work to implement effective software defined boundary procedures that can preserve critical data and increase the data’s security. These are the major factors anticipated to boost the software defined perimeter market share during the analysis timeframe.
However, sharing data with cloud service providers can mean giving up complete control over the data. The fact that the cloud service provider performs the data backup may cause clients to be concerned about their reliance on the company profile for their data and the chance of a data hack. Therefore, it is important for these companies they use the most dependable service that can ensure the confidentiality and integrity of what they provided.
An increase in digitalization has been a key driver in propelling the market growth for disaster recovery as a service. The adoption of software defined perimeter services is increasing in popularity across several industry sectors, including healthcare, retail & e-commerce, IT, and telecom, as a result of technical improvements and digitization. Software defined perimeters are used to reduce the number of staff needed for data handling and security, making them a safe and effective solution. Furthermore, major industries have been heavily investing in this software defined perimeters since they enhance the whole data security procedure and limit access to data resources only to authorized users through a multi-stage process that boosts the organization's market share. To have a more effective and adaptable experience, this ultimately encourages the industries to digitalize as well as replace their outdated backup and data protection service systems with improved software defined perimeter as an application service.
Global Software Defined Perimeter Market, Segmentation
The global Software defined perimeter market is segmented based on connectivity, deployment mode, organization size, user type, and region.
The connectivity segment is further classified into the controller, gateway, and end point. Among these, the gateway sub-segment accounted for the largest market share in 2021. Gateway as connectivity for the production of software defined perimeter is quite popular and a quick process. For instance, the use of connectivity for software defined perimeter production is a pivotal process that involves gateway channels for connectivity. This is the more popular connectivity model, as it allows for the production of a particular host for numerous resources. This helps to lessen lateral movement attacks, which include server scanning, exploits, and man-in-the-middle attacks.
The deployment mode segment is further classified into on-premises and cloud. Among these, the cloud sub-segment is anticipated to show the fastest CAGR during the forecast period. The term "public cloud" refers to computing services made available to anybody who wishes to use or buy them via the open Internet by third-party providers. They could be given away for free or offered on demand, letting users pay just for the storage space, or bandwidth they use. Public clouds, as opposed to private clouds, can spare businesses from the high costs associated with having to buy, operate, and maintain application infrastructure.
The organization size segment is further classified into large enterprises and small & medium-sized enterprises. Among these, the large enterprise sub-segment accounted for the largest market share in 2021. Software defined perimeter planning is a technological procedure that guarantees large enterprises will resume regular operation as soon as possible following a significant perimeter. It is a tactic to keep crucial information safe and reachable, even from hackers. Software perimeter planning ensures that applications are always available to users to prevent business interruptions and maintain customer satisfaction and your good name. Cyberattacks target large enterprises and market leaders. Even though large businesses are still at risk, they are conscious of the importance of their data, and all of them are putting their attention toward software defined perimeter planning to assure that it can always be recovered.
The user type segment is further classified into the following: government & defense, IT & telecom, banking, financial services & insurance, manufacturing, healthcare, retail & e-commerce, and others. Among these, the government & defense sub-segment held the largest market share in 2021. A software defined perimeter plan is an important component for government and defense organizations. It is a representation of the methods and techniques for restoring networks, document management systems, and core system security. It only focuses on the technology that supports government operations and defense industries and the processes required to maintain its security framework that controls access to the system.
The software defined perimeter market in Asia-Pacific is projected to show the fastest growth. Some of the major factors driving the software defined perimeter market growth in Asia-Pacific is due to small and medium-sized businesses' preference for cloud-based application services. Furthermore, emerging startups across Asia-Pacific in IT and Network systems are adopting cloud-based services to protect themselves from cyber-attacks. This is estimated to increase the growth of the market in Asia-Pacific.
Key Players in the Global Software Defined Perimeter Market
Some of the leading software defined perimeter market players are
- Fortinet Inc.
- Catbird Networks Inc.
- RSA Security LLC.
- Intel Corporation
- Check Point Software Technologies Ltd.
- Certes Networks
- Cisco Systems Inc.
- Palo Alto Networks Inc.
- Juniper Networks Inc.