Software Defined Perimeter Market Size Worth $10.25 Billion By 2025
The global software defined perimeter market size is expected to reach USD 10.25 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 18.4% during the forecast period. Evolution of IoT and developments in Bring Your Own Device (BYOD), are anticipated to boost the growth. Increasing adoption of cloud technology by small and medium enterprises is expected to boost the overall software defined perimeter (SDP) market. Increasing exposure to cloud migration has made it difficult for the enterprises to efficiently secure the perimeter.
Traditional VPN access is liberal and grants remote workers with the access to the network which are further not required to complete the tasks. This results in the access to the resources and are unreasonably visible, vulnerable, and can be attacked easily. Organizations require surplus user connection and deployment through many cloud instances. VPN or the firewall costs increases instantly with the need for these surplus authorizations. VPN also offers flexibility and hence, can be used to connect Virtual Private Clouds (VPCs), datacenters, and multiple networks. However, these connection costs high and are resource-intensive. SDP reduces the costs incurred and hence drives demand for data security in the infrastructure.
Many organizations such as banks and other finance services, healthcare, and telecom provider face difficulty in meeting the security requirements in virtualized cloud environments. Financial institutions have a requisite of data center with several physical controls. This makes it difficult for financial institutions to utilize public cloud services. SDP simplifies these difficulties and helps in utilizing the public cloud services when required.
Further key findings from the report suggest:
- Telecom and IT is projected to emerge as the fastest growing segment over the forecast period
- Large enterprises emerged as the largest segment in 2017 and is estimated to generate revenue over USD 7.02 billion by 2025
- North America held the largest share in the SDP market in 2017, owing to adoption of cloud technology and stringent regulations on data
- Key players operating in the SDP market include Cisco Systems Inc.; Juniper Networks; Intel Corporation; Fortinet Inc.; Symantec Corporation; Certes Networks; EMC RSA; among others