Software-Defined Perimeter Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

Description

Software-Defined Perimeter Market size was valued at USD 3,678.9 million in 2022 and is expected to grow at a CAGR of 28.4% from 2023-2029. Software-defined perimeter (SDP) permits organizations to limit network access and offer customized, secure and simple access to networked systems. The connection of SDP is based on the need-to-know model, meaning each identity and device must be confirmed before being allowed access to the network. SDP solutions let the administrations deploy gateways over the cloud or on-premise, safeguarding employees’ remote access to on-premises and cloud applications while storing data securely within the administrative network. The advantages of SDP solutions comprise substituting labor-intensive and problematic firewalls, a virtual private network (VPN), and network control access (NAC) with safe software-defined perimeter, confirming compliance through policy-based and secure access, and allowing remote and on-premise network access. The increasing process of cloud-based applications in management can lead to the software-defined perimeter market growth. Moreover, the rising requirement for guidelines and contracts to progress the functioning of network safety are some primary factors that can boost the global software-defined perimeter market growth. Apart from these, the rising number of connected devices owing to bring your own device and IoT technology trends in the business can also accelerate the market in the future. However, some factors, such as the absence of consciousness regarding security in digitalization technology, can restrain the growth of the market. The growing order for high-speed internet connectivity, smartphone and broadband penetration, and increasing demand of customers for inaugurating services over cloud technology anytime and anyplace to expand enterprise need for agility can create an opportunity for the growth of the global software-defined perimeter market share.

Recent Market Developments:

In April 2020, Okta, Inc. partnered with VMware Carbon Black, CrowdStrike, and Taniu to offer a broad set of device risk signals to the Okta Identity Cloud, allowing enterprises to syndicate endpoint risk detection with user identity to bring unparalleled access security.

In March 2020, AppGate, signed a distribution agreement with Promark to distribute AppGate SDP, a robust and unique software-defined perimeter solution.