The global Software Defined Perimeter Market size is expected to grow from USD 2.9 billion in 2019 to USD 13.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 36.5% during the forecast period. The rising demand policy-based security architecture to reduce network complexities and increasing adoption of cloud-based applications are major factors driving the adoption of SDP solutions in the market.
The end point connectivity segment to hold the largest market size during the forecast period
The SDP market by connectivity is segmented into controller, gateways, and end point. The end point segment is expected to have largest market size during the forecast period, as it provides proof of device authenticity by integrating the device and user authentication and mitigatescredential theft, brute force password guessing, and other threats. The growth in the connectivity market is associated with the rise in the number of security breaches targeting business networks and applications, where hackers try to gain access to sensitive data. As vulnerabilities have become more complex and sophisticated, the demand for SDP products is expected to increase, to cater to the growing challenges posed by these threats.
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By service, the consulting and implementation segment to grow at a higher CAGR during the forecast period
The SDP market by service is segmented into consulting and implementation services; and training, support, and maintenance services. The growing need to upgrade and enhance existing SDP solutions and make the deployed solution more robust with the emerging nature of cyberattacks to pave the way for consulting and implementation services in the market. Consulting and implementation services help companies choose the most suitable SDP solution, depending on their business-specific requirements and user type.
Major SDP vendors include Check Point (Israel), Cisco (US), Akamai (US), Palo Alto Networks (US), Symantec (US), Okta (US), Proofpoint (US), Verizon (US), Fortinet (US), Intel (US), Perimeter 81 (Israel), Safe-T (Israel), Pulse Secure (US), CloudPassage (US), Illumio (US), DH2i (US), Certes Networks (US), TrustedPassage (US), Cato Networks (US), and AppGate (US). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global SDP market. Partnerships and new product launches have been the most dominating strategy adopted by the major players from 2018 to 2019, which has helped them to innovate their product offerings and broaden their customer base.
Check Point (US) is one of the leading providers of internet security solutions across the globe. The company pioneered the industry with FireWall-1 and its patented inspection technology and continues to develop innovations based on the software blade architecture, providing customers with flexible and simple solutions that can be fully customized to meet the exact security needs of an organization. In the SDP market, the company offers software-defined protection that secures organizations with its three interconnected layers: the management layer, the control layer, and the enforcement layer. The architecture delivers real-time visualization of security incidents, enhances control of policy enforcement, and prevents attack proliferation. The software-defined protection solution helps organizations mitigate cyber threats and maintain a secure environment. Check Point’s products and services are sold to enterprises, service providers, Small and Medium-sized Enterprises (SMEs), and consumers. The company secures more than 1,00,000 businesses and millions of users globally.
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Palo Alto Networks (US) is a pioneer provider of network security solutions. It offers firewalls solutions that identify and control applications; scan content to stop threats; prevent data leaks, integrated application, user, and content visibility. The company continuously delivers next-generation security through its innovative platform, enabling public and private enterprises to maintain secure organizational IT infrastructure. The company offers Unified Threat Management (UTM), next-generation firewall, Intrusion Prevention System (IPS), Intrusion Detection System (IDS), web gateway, and Virtual Private Network (VPN) technologies. It also provides various services, such as consulting, technical support, and subscription-based services to a large customer base. In the SDP market, the company offers Prisma Access that delivers networking and security-based solutions that can be deployed by organizations to secure their purpose-built cloud-delivered infrastructure.
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