The global software-defined perimeter market is expected to post a CAGR of over 34% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has released a new market research report on the global software-defined perimeter market for the period 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the increase in network attacks across the globe. The network attacks by hackers and cybercriminals are growing at an alarming rate. The number of network attacks such as DDoS, man-in-the-middle, and APTs by hackers is rising globally. For instance, almost one-third of the enterprises faced DDoS in 2017. Another example of network attacks is, in January 2018, ABN AMRO, a Dutch bank, faced a DDoS attack. As a result of this attack, services such as internet banking and mobile banking were not available or extremely slow for more than 4 hours. Therefore, SDP supports enterprises in permitting good connections or packets and in dropping bad packets or connections. In the case of a network attack, SDP blocks malicious traffic as well as automates the process of blocking and stopping the traffic immediately from reaching the services and applications. Thus, the increase in network attacks across the globe is expected to trigger the growth of the global SDP market during the forecast period.
This market research report on the global software-defined perimeter market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the emergence of BYOD as one of the key emerging trends in the global software-defined perimeter market:
Global software-defined perimeter market: Emergence of BYOD
Organizations are increasingly adopting smartphones and tablets to enable employees to work remotely. A large number of employees now stay connected with the corporate network with constant support from enterprise IT departments. The adoption of the BYOD concept by firms has allowed employees to access organizational data and resources without being tied to a single location. Mobile devices are now becoming primary devices among employees in an organization. SMEs are increasingly shifting to BYOD for professional tasks, and this move has helped them in improving their productivity and efficiency significantly. However, enterprises face a challenge in controlling the BYOD devices. SDP provides enterprises with policies that help them in limiting access to specific resources and information. It also provides a low cost of ownership and flexibility through its user-friendly and secure environment. This is encouraging enterprises to adopt SDP to make the BYOD networking systems more robust and secure.
“Apart from emergence of BYOD, the rise in the number of strategic alliances, the use of SDP with blockchain for improving automotive cybersecurity, and the growing use of IoT are some other factors expected to boost the growth of the global SDP market,” says a senior analyst at Technavio for research on IT security.
Global software-defined perimeter market: Segmentation analysis
This market research report segments the global software-defined perimeter market by geographical regions, including APAC, EMEA, and the Americas.
The Americas led the market in 2018 with a market share close to 43%, followed by APAC and EMEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth, followed by the EMEA region.
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Five Forces Analysis
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