Global Software Defined Perimeter Market (2019 to 2024) - CAGR of 36.5% Expected During the Forecast Period - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Software Defined Perimeter Market by Component (Solutions and Services), Connectivity, Deployment Mode, Organization Size, User Type (Government & Defense, IT & Telecom, and Retail & eCommerce), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The SDP market is estimated to be USD 2,930 million in 2019 and projected to reach USD 13,880 million by 2024, at a CAGR of 36.5% during the forecast period.

The SDP market is driven by the rising need for policy-based security architecture to reduce network complexities, the increasing adoption of cloud-based applications, and the growing need for regulations and compliance to enhance network security. However, the growing demand for open source security applications may hinder the growth of the SDP market.

Security compliance and policy management segment to grow at the highest CAGR during the forecast period

The SDP market by solutions is segmented into access control, security compliance and policy management, risk analytics and visualization, performance management and reporting, and, others (control automation and orchestration, Data Loss Prevention (DLP), Intrusion Prevention System (IPS), and Intrusion Detection System (IDS)). The security compliance and policy management segment is expected to grow at a rapid pace during the forecast period. SDP solutions deliver a centralized security compliance and policy management solution by automating the entire security compliance and policy management process deployed via software, appliances, and hosted Software as a Service (SaaS) or virtual machines. It saves time and money and enhances productivity by ensuring that businesses focus on their major tasks.

Endpoint connectivity segment to have the largest market size during the forecast period

The SDP market by connectivity has been segmented into controller, gateway, and endpoint. The endpoint connectivity segment is projected to have the largest market size during the forecast period, as it provides proof of device authenticity by integrating the device and user authentication and mitigates the credential theft, brute force password guessing, and other threats. In the SDP market, the endpoint is authorized by the controller and then a connection is allowed to the desired server. The solution encapsulates the connection and restricts other endpoints to interfere with the network by isolating it from malware and unauthorized users.

Asia Pacific to grow at the highest CAGR during the forecast period

APAC is expected to grow at the highest CAGR during the forecast period. APAC, being an emerging economy, is witnessing dynamic changes in the adoption of new technologies, along with mandatory regulations imposed by government regulatory entities, to adopt the best-in-class technology and standards. However, factors such as continual growth in the increased demand for software-defined data center, mobile workforce, the increasing complexity of businesses, and the unregulated nature of the internet, are now expected to push such SMEs to adopt SDP solutions and services in the region.

Market Dynamics

Drivers

• Rising Need for Policy-Based Security Architecture to Reduce Network Complexities
• Increasing Adoption of Cloud-Based Applications
• Growing Need for Regulations and Compliances to Enhance Network Security

Restraints

• Lack of Awareness Concerning Security in a Virtualization Environment

Opportunities

• Increasing Number of Connected Devices Due to IoT and BYOD Trends

Challenges

• Growing Demand for Open-Source Security Applications
• Lack of Industry Standards

Industry Trends

• Use Case 1: Healthcare Firm
• Use Case 2: MyHeritage
• Use Case 3: Amlaw Group
• Use Case 4: VIA

Regulatory Implications

• General Data Protection Regulation
• Payment Card Industry Data Security Standard
• Health Insurance Portability and Accountability Act
• Federal Information Security Management Act
• Gramm-Leach-Bliley Act
• Sarbanes-Oxley Act

Company Profiles

• Check Point
• Cisco
• Palo Alto Networks
• Intel
• Fortinet
• Akamai
• Okta
• Symantec
• Proofpoint
• Verizon
• Cato Networks
• APPGate
• Safe-T
• Perimeter 81
• Illumio
• CloudPassage
• DH2i
• Certes Networks
• Pulse Secure
• TrusteDPAssage
• Right-To-WinAct

For more information about this report visit https://www.researchandmarkets.com/r/q91w9u