PUBLISHER: Allied Market Research | PRODUCT CODE: 1266577
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266577
The global software defined perimeter market is envisioned to garner $143.1 billion by 2031, growing from $5.3 billion in 2021 at a CAGR of 39.3% from 2022 to 2031.
A software-defined perimeter is a technique for hiding internet-connected equipment, such as routers and servers, so that external users cannot see it. An SDP can be implemented to safeguard infrastructure, regardless of whether it is hosted in the cloud or on-premises. SDP relies on using software, rather than hardware, to safeguard an environment. Its applications are more varied, and its deployment method is more nimble than hardware alternatives because it is software. Furthermore, SDP is more versatile than VPN in addition to being more manageable. Since it might be challenging to integrate several employees of the same firm under a single VPN system, many businesses have begun using SDP architecture as a centralized authorization mechanism to grant access to sensitive company information. This factor is anticipated to boost the software defined perimeter market growth during the forecast period.
The number of network risks has decreased as a result of the use of cloud-based services. Typical perimeter defensive methods such as firewalls cannot defend traditional data centers and servers, increasing the risk of network attacks on application infrastructure. Thus, a lack of industry standards and a lack of security awareness restrained the software defined perimeter market growth.
The advent of the Internet of Things (IoT) with SDP-based security solutions has created a wide range of potential opportunities for the SDP market. For companies of all sizes, IoT is becoming increasingly important, and it needs to be protected from outside threats. In the near future, it is projected that the dynamic SDP for IoT will accelerate market growth because it is the best replacement for traditional firewalls and network controls. In addition, the market for software defined perimeters offers security and other essential components at competitive prices. It helps to lessen the challenges faced when regulating the systems. The cloud-based technologies also make VPN tunnels better at solving security concerns. In the following years, it is projected that these reasons will accelerate the expansion of the software defined perimeter industry.
The COVID-19 outbreak caused significant losses for the market in numerous regions. Future projects and plans were hampered, and they will now require considerably more time. However, the sudden transition toward cloud-based systems and digitalization has increased the demand for a sustainable system. The growth of the software defined perimeter market is anticipated to benefit from this demand. Additionally, several government initiatives and the rising need for SDP systems are anticipated to fuel market growth.
The key players profiled in this report include: VeloCloud Networks, Inc., Intel Corporation, Check Point Software Technologies Ltd., Symantec Corporation, Vidder, Inc., Fortinet, Inc. , Cisco Systems, Inc., Palo Alto Networks, Catbird, Inc., and Cryptzone North America Inc.