Software-defined Perimeter (SDP) Market Size to Grow by USD 14.65 Bn | 57% of the growth to be originated from North America | Technavio
NEW YORK, May 9, 2022 /PRNewswire/ -- According to the market outlook report, the Software-defined Perimeter (SDP) Market will witness a YOY growth of 35.55% in 2022 at a CAGR of 36.37% during the forecast period. One of the main drivers of the Software-defined Perimeter (SDP) Market is the increase in network attacks across the globe owing to the growing use IoTs and cloud computing.
The software-defined perimeter (SDP) market has been broadly categorized into the following demographic segmentations:
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The Software-defined Perimeter (SDP) Market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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Geographical Market Analysis
North America will account for 57 percent of market growth. In North America, the primary markets for software-defined perimeter (SDP) are the United States and Canada. The market in this region will grow faster than the markets in Europe, South America, and the Middle East and Africa.
Over the forecast period, the software-defined perimeter (SDP) market in North America will benefit from a significant increase in demand for 5G-enabled Internet of things (IoT) solutions and demand for high connectivity with low latency from industries such as content and digital media, banking, financial services, and insurance (BFSI).
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Key Segment Analysis
The on-premises segment's share of the software-defined perimeter (SDP) market will expand significantly. Customization and the enhanced data security afforded by the on-premises deployment option (due to the lack of third-party intervention) are two elements that will propel this market forward in the next years.
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Key Market Dynamics:
The rise in network attacks throughout the globe as a result of the growing use of IoT and cloud computing is one of the primary factors driving the global software-defined perimeter market growth. Another market trend that is predicted to favorably impact the industry in the projected future is the rise of BYOD for professional work. The danger of open-source software-defined perimeter (SDP) solutions, on the other hand, is one of the major hurdles to the worldwide software-defined perimeter (SDP) market's growth.
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Deployment
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
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