The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Software Defined Security Market Size. The growth sectors of the Software Defined Security Market Size are identified with precision for a better growth perspective.
The global software-defined security market is accounted to reach a valuation of USD 2.19 billion in 2017 to USD 11.13 billion by 2023 as Market Research Future (MRFR) revealed in its reports. The market is also set to register a CAGR of 31.40% in the forecast period by 2023 due to booming cloud-based infrastructure market, growing concerns of management of data. These factors are immensely helping the existing organizations to deploy automated management systems.
The effective software-defined security requires proper implementation of adequate security through a controller which can be a software itself or an application. Such an advanced security model assists in protecting various security-related matters as threat detection, alert and access control, network segmentation and more.
This completely automated system offers less human interference and maximum scope of security from unwanted activities. Convenient designed and cost-effective, the security-based software is much compatible in its functionality as compared to the conventional security models.
Factors Driving the Market Growth
The assessment of the global software-defined security market is increasing with advanced technology where software-defined security is receiving a significant spotlight in managing information security. Some of the chief influencers of software-defined security market growth are concerned with incorporation of cloud-based technology, demand for managing unstructured data and ease of integration of identity & access management, prevention of data loss and more.
However, due to lack of technical expertise and lack of industry regulators, many companies are evading from the software-defined security practice, resultantly, hampering the market growth. Considering it, several companies are contributing by implementing the security software to overcome the restraints and hence, boosting the global software-defined security market with a good share in the years to come. Hence, the global software-defined security market is expected to gain a splendid valuation of USD 11.13 billion until the year 2023.
The software-defined security market is broadly segmented based on component, enforcement point, deployment mode, end-user, and region.
By mode of the component, the market is segmented into solution and services.
Market 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).
Other players in the Software-Defined Security market are Citrix Systems Inc (US), Catbird Networks Inc (US), Certes Networks Inc (US), Versa Networks Inc (US), and CloudPassage Inc (US).
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