Analysis of Software Defined Perimeter market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global software defined perimeter market is expected to strengthen its hold on the global market at a CAGR of 14.3% during 2022-2032.
The software defined perimeter market share is estimated to reach US$ 28.2 Bn by 2032 from US$ 7.4 Bn in 2022.
Software Defined Perimeter Market Value (2021)
US$ 5.4 Bn
Estimated Market Value (2022)
US$ 7.4 Bn
Projected Market Value (2032)
US$ 28.2 Billion
Global Market Growth Rate (2022-2032)
Key Market Players
The growing use of interconnected devices with the developments in new age technology like the internet of things (IOT) and over-the-top adoption of reliable storage options like cloud-based applications is pushing the software defined perimeter market forth and increasing the overall ROI, creating a win-win scenario for the businesses as well as vendors.
The rising numbers of cyber-attacks and data theft are also pushing the companies to adopt the software defined perimeter solutions that ensures the fulfillment of compliance requirements and enhanced security layers.
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As per the recent report published by Fact.MR, the software defined perimeter systems market recorded a booming CAGR of 36.8% during the historical period. However, the market has shown a big slump during the forecast period and is anticipated to reduce to more than half of its historic CAGR and sum up to a CAGR of 14.3% between 2022 to 2032.
Emerging trends in software defined perimeter market explain that the slump involves multiple working factors, in which, covid-19 has played a significant role as it has slowed the market’s pace with its damage done to businesses through the shutting down manufacturing units and losing huge capital over the inactive marketspace.
However, the market has also shown some growth opportunities generated through the course of covid-19 and its work-from-home procedures for SMEs and large enterprises. Overall, the long haul CAGR of 2022 –2032 is also affected by the outcomes of covid-19, such as a lack of capital to invest in the business infrastructure, resulting in the value of US$ 7.4 Billion in 2022.
While the previous CAGR was more than double the current CAGR, that was 36.8%, setting up a value of US$ 5.4 billion in the 2021 base year.
The global study on software defined perimeters solutions shows that this high adoption of software defined perimeter services in large enterprises was because of the office working procedure and high risks of data breach, while most brands work on multiple safety precautions. The work from home has resulted in a more individual security, and only a small number of sectors involve the use software defined perimeter because of the high data theft.
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“Mobile enterprise solutions along with Cloud services are gaining the traction for the market”
Software defined perimeter market future trends explain that the market thrives upon increased use of cloud-based solutions, business enterprise mobile security solutions, technological advancements like AI, ML, IOT, etc., and rising numbers of cyber-attacks and data breaches.
With the increased competition in the market space, the use of cyber-attacks for data breaches in order to gain the crucial data of the business is rising. These cyber-attacks have multiple types: structured query language (SQL) injection and distributed denial of service attacks (DDOS). Governments around the world also push companies to complete compliance requirements.
Software defined perimeter covers an area and adds multiple safety layers around it while preventing multiple cyber-attacks. The latest development in the corporate space is the role of bringing your own device (BYOD) prospect of working through personal devices, rising the concerns over the data breach. This fuels the demand for the software defined perimeter solutions.
BYOD helps businesses in letting their employees work from anywhere, letting them find the right work-life balance. Multiple IT organizations have adopted software defined perimeter solutions to ensure data theft prevention for the assets that operate remotely.
Recent developments in software defined perimeter market show that the integration of technologies like artificial intelligence and the internet of things have helped the market in exploring new limits while structuring its policy-driven security architecture for multiple businesses.
These new technologies help businesses rectify the threat, analyse its level, and then fix or remove it from the system loop to eliminate the threat. These systems work on multiple touchpoints through which multiple operations function.
The software defined perimeter solution makes sure that the end-user goes through these touchpoints without a hitch while preventing and eliminating external threats. In the policy-driven security structures, the software defined perimeter can customize the compliance model according to the company’s policy and can be accessed and revised by the IT admin.
Software defined perimeter (SDP) solutions process through the centralized security loop that automates the whole security compliance and policy management activities. These happen while implementing new software or installing a new appliance, device, and software as a service (SaaS)> Artificial intelligence and machine learning help the SDM solution troubleshoot the threat and rate it according to the threat level.
These attacks are the most common in the industries like E-commerce, BFSI, IT and telecommunications, and Défense as these hold large prominence. Another factor driving the sales of software-defined perimeter solutions is the middleman breach commonly triggered through the structured query language injection. These are the major drivers that gain traction for software defined perimeter solution market.
The few reasons that have limited software-defined perimeter growth are hard implementation, huge capital investments, and uneasy cloud deployments. Vendors need to upgrade their strategy, including product innovations, research and development, and mergers.
As covid-19 has broken the financial backbone of the common manufacturing markets, corporates have done multiple budget cuts to ensure the business’s survival. This leads to low capital investments, restricting software defined perimeter market.
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With its expanding economy, the Asia Pacific is one of the most lucrative markets for software defined perimeter (SDP) producers worldwide. It includes China, Japan, and South Korea's significant growth potentials and estimated values.
China thrives at the highest CAGR of 14.1%; Japan holds a CAGR of 12.8%, and CAGR for South Korea is 11.8%. The estimated values of these countries will be US$ 2 billion, US$ 1.6 billion, and US$ 1 billion, respectively, by 2032. Sales of software defined perimeter (SDP) solutions have increased in the region because of the rising data breaches.
Factors like rapid digitization, big loads of data, and technology integration like artificial intelligence, machine learning, and big data, are likely to drive the software defined perimeter market forward throughout the forecast period.
“Rising cyber-attacks and data theft compliance in the U.S. fuels the significant growth for the market.”
From a regional standpoint, North America is known for having a large proportion of the global Software defined perimeter (SDP) market. In contrast, the United States dominates the regional software defined perimeter (SDP) market with a strong CAGR of 14.1% by 2032 while reaching an estimated value of US$ 10 billion in the forecast period. This growing market is also flourishing in the cyber security and anti-theft solution markets.
Software defined perimeter solutions are mostly consumed in large enterprises in the US region, attributing to the new corporate structures set up, advanced security threats, and rising data war around the market spaces. Governments around the region also adopt software defined perimeter solutions to fulfill compliance requirements.
The software defined perimeter solution has divided into different categories such as component, connectivity, deployment mode, organization size, and user type. These categories are divided into segments and sub-segments that expand their market spaces into new regions, increasing the distribution channels and sales prospects of software defined perimeter solutions.
The software defined perimeter market has expanded its space through new market strains with new market trends like integration with new-age concepts like cloud computing and corporate management systems.
By component, recent developments in software defined perimeter market solutions are the largest segment and will hold the biggest portion of the market in the forecast period. The analysis shows that the type of solution is set to thrive at 15.1% in the forecast period.
Previously, the same segment was proliferating at a CAGR of 36.5%. The factors behind the growth of this segment are the rising cyber-attacks, high data theft, and government authorities putting policy-driven regulations. Solutions are equally helpful for large enterprises as solution component is easy to implement in larger spaces.
By deployment mode, a new market research report on software defined perimeter market explains that cloud deployment is the biggest segment in the deployment mode category and will be the largest portion in the forecast period. It is growing at a promising CAGR of 13.6% between 2022 and 2032, which was previously recorded as very high as 35.8% between 2015 and 2021.
The factors behind the growth of large enterprises are the complex management of multiple software, integration of the latest technology, and huge capital investments to enhance overall customer safety.
Check Point, Cisco, Palo Alto Networks, Intel, and Fortinet are the key players in the software defined perimeter market.
In the foreseeable period, rising consumption across corporate industries, coupled with technological advancements such as AI, ML, and the Internet of Things (IOT), is expected to drive the demand for software defined perimeter. Rising attacks on data and policy compliance are also growing the adoption of software defined perimeter, enhancing the security layers of the corporate structure.
A survey done by Flexera explains that 84% of the respondents have strategies like multi-cloud strategy and 58% hybrid strategy. Vendors focus on new marketing plans involving new promotional funnels. The survey also explains that 30% of IT organizations will continue to use BYOD and remote processes. This increases the sales of software defined perimeter solutions in new regions.
Recent Developments in the Software Defined Perimeter Market :
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The software defined perimeter market is projected to rise at a CAGR of 14.3% during the projected period.
The global software defined perimeter market was valued at US$ 5.4 Billion in 2021.
The global software defined perimeter market is likely to be worth nearly US$ 28.2 Billion by 2032.
North America is a leading region for software defined perimeter market with US growing on a strong CAGR of 14.1%.
With a CAGR of 15.1%, the solutions segment dominates the software defined perimeter market during the forecast period.
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