Software Defined Perimeter Market

The global software defined perimeter market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the rising implementation of cloud technology and increasing need of programmable and scalable security infrastructure.

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Software-defined Perimeter (SDP) is a security based approach that provides access to enterprise applications. It help to diminish network-based attacks. SDP is used to protect data and cloud-based applications, which allows organizations to limit network access and provide secure, customized, and manageable access to networked systems. Typical SDP is composed of SDP host and controller. Host can accept or initiate connections and controller manage these actions. SDP services and solutions empowers IT managers to deploy gateways over the cloud or on-premises, thus safeguarding employees remote access to applications, and keeping sensitive data within the organizational network.

The COVID-19 pandemic outbreak had brought positive impact on the market. During pandemic, work from home policy is implemented by many organizations which increased the demand of SDP for data security and safe remote access to applications for employees. Additionally, SDP solutions are used by healthcare sector during pandemic for safeguarding and managing patient’s data.

Market Trends, Drivers, Restraints, and Opportunities

• Rising awareness about data security and increasing threat of cyber-attack are some of the key factors driving the market growth.
• Increasing regulations by government for data security and need of data compliance is projected to drive the market expansion during the forecast period.
• Growing number of open-source security applications acts as a major challenge that can restrict the market growth in the coming years.
• Escalating cost of SDP deployment and infrastructure can hamper the market growth during the projected timeline.
• Integrating internet of things technology with SDP security system is projected to create significant growth opportunities for the market.

Scope of the Report

The report on the global software defined perimeter market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Continual development drive the cloud segment

Based on deployments, the global software defined perimeter market is bifurcated into cloud and on-premise. The cloud segment is expected to grow at a rapid pace during the forecast period attributed to its cost effectiveness nature, continual development, better use of technology, and easy sharing of infrastructure among multiple users and offices. However, the on-premise segment is anticipated to expand at a substantial CAGR in the coming years due to rising cyber security concern and easy integration with existing operational and IT systems.

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BFSI segment is projected to expand at considerable CAGR

In terms of applications, the market is divided into E-commerce & retail, telecom & IT, government, BFSI, defense, healthcare, and others. The telecom & IT segment is expected to account for a major market share during the projected timeline owing to  high data breaches and accessing the restricted infrastructure. Moreover, adoption of SDP solution increased in telecom & IT sector as demand for streamlined security of the structure, is driving the segment growth further. On the other hand, the BFSI segment is projected to expand at a considerable CAGR during the forecast period due to increasing data traffic which lead to unauthorized access, for authentication of user SDP solution is used in BFSI sector to prevent from financial fraud.

Authentication of user increases the gateway segment market share

On the basis of enforcement points, the global software defined perimeter market is fragmented into end-point, gateway, and controller. The gateway segment is estimated to account for a significant market share during the forecast period attributed to that gateway verifies the identity of the requesting device and also authenticates the user. Additionally, gateway connectivity type plays an important role in the transport layer security connections, which is developed to deliver communication security is major driver of the segment. However, the controller segment is anticipated to grow at a high CAGR during the projected period attributed to use of controller in configuration the client and gateway in real-time.

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Large Enterprise segment is estimated to expand at robust growth rate

Based on organizations, the market is bifurcated into large enterprises and small & medium enterprises. The large enterprise segment is estimated to expand at robust growth rate during the forecast period owing to large volume of data which need to be secured. Furthermore, SDP enables large organizations to identify an illegal user even if the user holds legal user credentials, which is projected to accelerate the segment growth further. On the other hand, the small & medium enterprise segment is projected to expand a considerable CAGR during the forecast period attributed to the increasing adoption of SDP solutions to prevent from cyber-attack.

Asia Pacific is anticipated to constitute a key market share

In terms of region, the global software defined perimeter market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute a key share of the market during the projected period owing to boost in the need of data security, stringent regulations by government bodies for data security in the region, and rising trend of bring your own device at work. However, the North America market is anticipated to grow at a rapid pace during the forecast period due to the increasing adoption of SDP solutions by large enterprises in the region to avoid data insecurity over the heavy traffic network.

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Segments

The global software defined perimeter market has been segmented on the basis of

Deployments

• Cloud
• On-premise

Applications

• E-commerce & Retail
• Telecom & IT
• Government
• BFSI
• Defense
• Healthcare
• Others

Enforcement Points

• End-point
• Gateway
• Controller

Organizations

• Large Enterprises
• Small & Medium Enterprises

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Cisco Systems Inc.
• Fortinet Inc.
• Check Point Software Technologies Ltd.
• Certes Networks
• Palo Alto Networks Inc.
• Intel Corp.
• Juniper Networks
• Symantec Corp.
• Catbird Networks Inc.
• EMC RSA

Competitive Landscape

Key players competing in the global software defined perimeter market are Cisco Systems Inc.; Fortinet Inc.; Check Point Software Technologies Ltd.; Certes Networks; Palo Alto Networks Inc.; Intel Corp.; Juniper Networks; Symantec Corp.; Catbird Networks Inc.; and EMC RSA

Companies are focusing on investment in R&D for the development of cost effective and more secure SDP solutions for the market. Furthermore, companies are widely engaging in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers. For instance, in May 2017, Verizon the U.S. based wireless network operator announced a launch of SDP services. This services are developed for enterprises to block and identify cyber-attacks by creating a virtual perimeter around the network.

In January 2019, ForceNock security Ltd., a web Application and Application Program Interface protection start-up in Israel acquired by Check Point Software Technologies Ltd. This acquisition was aimed to integrate the ForceNock’s technology into Checkpoints Infinity Architecture to strengthen its machine learning capabilities and provide highest security against cyber-attacks.