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The worldwide software defined security market was valued at $5.3 billion in 2020, according to Allied Market Research, and is anticipated to reach $68.3 billion by 2030, with a CAGR of 29.5 percent from 2021 to 2030. Based on region, the market across Asia-Pacific would showcase the fastest CAGR by 2030.
The market for software defined security is examined by Allied Market Research in terms of component, deployment strategy, application, end user, and geography. The solution category accounted for more than three-quarters of total market revenue in 2020, and it is anticipated to overtake the market by the end of 2030. From 2021 to 2030, the services category will develop at the quickest rate, with a CAGR of 30.6 percent.
In terms of deployment method, the on-premise segment accounted for more than three-quarters of the overall market share in 2020, and it is expected to continue to dominate by 2030. From 2021 to 2030, the cloud category will develop at the highest rate, with a CAGR of 30.7 percent.
In terms of region, North America dominated in 2020, accounting for over two-fifths of the worldwide market. During the projection period, the market in Asia-Pacific will grow at the highest rate, with a CAGR of 32.3 percent. Europe and LAMEA are among the other provinces examined in the research.
Impact of COVID-19 on Software Defined Security Market
The growing tendency of accessing key corporate infrastructure from less secure places (such as workers’ homes) has increased the risk of cyber-attacks, stated AMR in its report. To avoid this, several businesses have invested in better software-defined security solutions for their workers, ensuring both the employee’ and the company’s assets.
Software-based firewalls and intrusion detection systems have now become popular and are being extensively deployed into employee’s systems to strengthen the essential security perimeters.
Palo Alto Networks, Symantec, Check Point, EMC, Fortinet, Cisco
The key market players analyzed in the global software defined security market report include Technologies, Palo Alto Networks, Symantec, Check Point Software, EMC, Fortinet, Cisco Systems, Intel, Juniper Networks, and VMware. Partnerships, expansion, cooperation, joint ventures, and other tactics have been used by these market players to strengthen their position in the sector.
The new report published by Allied Market Research provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
The new AMR report on the global software defined security market can be downloaded here (PDF opens in new window).
