Software-Defined Security Market 2022 | Splendid Benefits And Trends – Analysis & Forecast

Global Software-Defined Security Market Research Report, Component (solutions, services), Enforcement Point (network security gateways, others), Deployment Mode (cloud, on-premise), End-Users (telecom and cloud service providers) — Forecast till 2023

Software-Defined Security Market

Global software-defined security market is expected to grow from USD 2.19 billion in 2017 to USD 11.13 billion by 2023, at a compound annual growth rate (CAGR) of 31.40% during the forecast period. Key factors driving the software-defined security market are the booming markets of cloud-based infrastructure, growing concerns among enterprises for security of virtualized infrastructure and growing demand for managing unstructured data, thus helping the organizations to automate and deploy their network security management systems. Also, features of software-defined security such as working by integrating with other technologies such as identity & access management, data loss prevention and other software-defined networking technologies is expected to considerably drive the software-defined security market. However, due to lack of industry regulations, many companies are avoiding the use of software-defined security which is expected to restrain the growth of the market. Also, the lack of technical expertise is expected to hamper the growth of software-defined security market.

Software-defined security allows the implementation of dynamic security in the network through means of a controller that is steered by software or an application. Such security model helps in protecting various security-related issues such as threat detection, network segmentation, intrusion alert and access control which are controlled by the security software.

The systems security is completely automated which offers less human interference and minimum scope for any unwanted activity. This system is simple and cost-effective as compared to the conventional security models. Software-defined security has an added advantage over conventional systems, that whenever any new device is added to the existing framework, the system automatically secures it with the existing security protocols. The technology also offers many new advanced features which can provide high security.

Regional analysis

The global market for software-defined security is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of software-defined security market is studied for North America, Europe, Asia-Pacific, and the rest of the world.

North America is expected to dominate the software-defined security market followed by Europe and APAC, owing to the increasing adoption of advanced technology and infrastructure in these regions. Rest of the world is expected to be growing at a rapid rate led by an increase in the number of information technology (IT) operations.

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Competitive Analysis

Companies adopt various organic strategies such as product development & enhancement as well as inorganic strategies such as expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market and sustain in the long run.

Key Players

The prominent players in the Software-Defined Security market are Intel Corporation (California), Cisco Systems (California), Juniper Networks (California), Dell Inc. (US), Check Point Technologies (Israel), Symantec Corporation (California), and Palo Alto Networks (California).

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