New York, USA, Sept. 06, 2021 (GLOBE NEWSWIRE) -- Research Dive states that the global software defined perimeter (SDP) market is likely to register a revenue of $23,132.8 million by 2026, at a CAGR of 35.8% during the forecast period from 2019 to 2026. The all-inclusive report provides a brief summary of the current market scenario comprising major aspects of the market such as growth factors, restraints, challenges, and numerous growth opportunities. The report also provides all the market estimations making it easier as well as helpful for the new participants to get better idea of the market.
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Market Dynamics
As per the analysts of Research Dive, technological advancements on cloud and the increasing adoption of cloud systems for programmable security are the major factors anticipated to accelerate the growth of the global market over the forecast period. In addition, software defined perimeter protects the information against the illicit or unauthorized users who are accessing the networks. Moreover, the emergence and development of internet of thing (IoT) with SDP-based security systems are expected to create massive opportunities for the global market growth by 2026. However, the lack of SDP industry standards and the less awareness about security are the factors that may restrict the market growth in the coming years.
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End Point Sub-segment to Observe Significant Growth
By connectivity, the end point sub-segment is expected to witness considerable growth and reach up to $8,489.7 million by 2026. This is mainly because endpoint connectivity type secures device data through encryption in order to provide better security that blocks the unauthorized users and controls the network systems.
Cloud Sub-segment to be Most Lucrative
By development mode, the cloud sub-segment valued for $930.0 million in 2018 and is estimated to witness robust growth over the forecast period. This is mainly due to the broad usage of cloud systems in businesses & organizations of all sizes and the higher level of security provided by cloud compared to on-premise security.
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Small & Medium Enterprises Sub-segment to Grow at the Highest Rate
By organization size, the small & medium enterprises sub-segment is predicted to witness significant growth and rise at the highest CAGR with 37.3% during the analysis period. This rapid growth is attributed to the rise in number of startup companies in the IT sector that increasingly need to secure their data such as finance, accounts, and others.
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Government & Defense Sub-segment to be Most Profitable
By user type, the government & defense sector sub-segment accounted for $480.0 million in 2018 and is expected to hold the highest market size during the forecast period. This is majorly due to the wide-ranging usage of SDP security systems in government & defense sector for security purpose, protection of weapons with surveillance, securing intelligence information, and reconnaissance.
Asia Pacific Region to Have Massive Growth Opportunities
The significant growth of the region can be attributed to the increasing preference of small and medium organization for cloud-based application services. In addition, emerging startups across Asia Pacific region, especially in the IT and network systems are adopting cloud based services in order to protect themselves from cyber-attacks, which is expected to drive the regional market growth by 2026.
Prominent Market Players
1. Fortinet, Inc.
2. Catbird Networks, Inc.
3. RSA Security LLC.
4. Intel Corporation
5. Check Point Software Technologies Ltd.
6. CERTES NETWORKS
7. Cisco Systems, Inc.
8. Palo Alto Networks, Inc.
9. Juniper Networks, Inc.
10. Broadcom
For instance, in July 2020, NetMotion, a leading provider of security solutions for the world’s rising mobile and remote workforce, unveils the public availability of its new security platform that unifies its mobile-focused VPN products with a new & powerful software defined perimeter (SDP) solution. This new security platform help organizations to achieve secure remote access.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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