COVID-19 Impact Review: What to Expect from Software Defined Perimeter (SDP) Industry in 2020?

The global Software Defined Perimeter (SDP) Market forecast will surpass $23,132.8 million by the end of 2026, at a CAGR of 35.8%, increasing from $2,000.0 million in 2018, according to Software Defined Perimeter (SDP) Market analysis by Research Dive.

Increasing execution of cloud based technology along with need of programmable and scalable security systems are key software defined perimeter (SDP) market trends. In addition, the rise in the usage of internet services has also led to a rise in the number of cyber-attacks. Growing number of network attacks for instance, Malware, Man-In-The-Middle Attack, Denial-of-service attack, Zero-Day Attack and others by cyber criminals and hackers are encouraging the enterprises to adopt SDP security systems because SDP investigates the external traffic and instantly blocks those who are accessing their networks without authentication. Due to adoption of SDP systems, the market size is expected to grow during the forecast time. Nevertheless, the lack of knowledge SDP security systems along with the lack of SDP industry standards are hampering the software defined perimeter (SDP) market growth. Development in the Internet of Things (IoT) coupled with bring your own device (BYOD) are projected to create ample investment opportunities in the SDP market. For instance, Google implemented the SDP system with endpoint connectivity as a part of BYOD networks to share the organization data.

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End point segment is estimated to experience a noteworthy growth and increase the market size with a 37.1% CAGR during the forecast time. End point security system avoids excess server downtime along with securing the access points by protecting users while they are online. Gateway segment accounted for the highest size in 2018, which was over $860.0 million and is projected to reach $9,114.3 million by the end of 2026. This growth is because gateway connectivity segment plays a major role in transport layer security systems, which is designed for communication security.

On-premises segment held the largest software defined perimeter (SDP) market size and it is anticipated to grow with reasonable CAGR of 34.5% and reach $11,473.9 million by the end of 2026. The cloud segment was valued at $930.0 million in 2018. This growth is mainly due to cloud computing offering constant support for business properties involving 24-hour live monitoring. In addition, this system helps businesses by maintaining and managing enhanced compliance infrastructure and it protects financial and personal data. The wide usage of cloud system will lead to an increase in the market growth during the projected period.

The market for small and medium sized enterprises is projected to grow at a faster rate of 37.3% CAGR and is anticipated to account for $10,247.8 million by 2026. The growth is majorly due to growing number of IT organizations across the globe. In addition, these IT companies are adopting cloud security systems for the protection of organization accounts, financial details and other data. The large-scale enterprises dominated the highest software defined perimeter (SDP) market share, which was 59.4% in the 2018 and it is anticipated to reach $12,885.0 million by the end of 2026, at a CAGR of 34.7%. This dominance is attributed to the wide usage of SDP systems by large enterprises to secure data. Such organizations hold huge records such as organization developments, information and others.

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IT & Telecom users will witness a significant growth with a CAGR of 37.0% and is projected to reach $2,779.1 million by 2026 and it has been increasing from $226.0 million in the 2018. The government & defense sector dominated the global market in 2018 and is anticipated to continue its growth during the projected time. This dominance is majorly owing to extensive use of SDP security for government & defense applications such as weapons and missiles information and others.

Asia-Pacific software defined perimeter (SDP) market will experience a noteworthy growth during the projected timeframe. The growth is majorly owing to wide usage of SDP based cloud systems services in the all sizes of organizations to secure their information. In addition, increase in the startups in the network and IT services adopting the SDP security services for the protection of company data and finance details from cyber criminals will also help the market to grow. Due to extensive adoption of SDP systems, the SDP market for Asia-Pacific is anticipated to generate a revenue of $5,181.7 million by 2026 and increasing at a CAGR of 36.9%. North America held the largest software defined perimeter (SDP) market size in 2018 and it was valued at $760.0 million and is expected to register $8,327.8 million by the end of 2026 with a growth rate of 34.9%. This dominance is attributed to presence of SDP manufacturers and rise in the acceptance of SDP systems by all sizes of organization in North America region.

Top gaining participants in the software defined perimeter (SDP) market are Catbird, Intel Corporation, Networks, Inc., Check Point Software Technologies Ltd., Broadcom, RSA Security LLC., Juniper Networks, Inc., CERTES NETWORKS, Fortinet, Inc., Cisco Systems, Inc., and Palo Alto Networks, Inc. These participants are increasing their efforts on new technology launches and development of existing technologies to rise their position in the software defined perimeter (SDP) industry. For instance, in December 2019, Fortinet, Inc. and google cloud have collaborated to provide advanced cloud security for network systems.

Mr. Abhishek Paliwal
Research Dive
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

This release was published on openPR.