Global Software-Defined Perimeter Market Size (2024 - 2029)

Software-Defined Perimeter Market Analysis

The Global Software-Defined Perimeter Market size is estimated at USD 9.06 billion in 2024, and is expected to reach USD 30.40 billion by 2029, growing at a CAGR of 27.39% during the forecast period (2024-2029).

• Cloud services are the primary drivers for digital transformation, with ubiquitous adoption in various industries. It has brought different security challenges for the business, which is the crucial reason for promoting the growth of the global software-defined perimeter market during the projected period.
• As most enterprises are at various stages of their hybrid IT implementation to support their digital business transformation, organizations will likely rely on both virtual private networks (VPN) and software-defined perimeter technology for some time. Many organizations have decided to implement SDP according to a business need, division, or region to support that set of users and applications. This introduces complications in managing two or more separate secure access systems, which contradicts IT consolidation's benefits and economies. Ultimately, organizations should progress their investment and initiatives for highly-secure access.
• Traditional on-premises VPNs can be expensive and difficult to operate and maintain. Thus, many organizations tasked with maintaining or moving to a new remote workforce are considering other network security alternatives. For example, some weigh software-defined perimeter as a vital VPN alternative. For instance, software-defined perimeter services from Palo Alto Networks and Zscaler can simplify remote access at a broad scale, pending some degree of financial and operational investment.
• Cloud services provide significant opportunities to accelerate the business through rapid scalability and the flexibility of resource utilization. It also reduces operational costs and controls financial spending on large-scale upgrades as cloud computing facilitates seamless scaling at reasonable costs.
• In addition, more and more businesses are implementing enterprise mobility solutions that enable and encourage employees to work from anywhere and through a wide range of devices. It has created a work-life balance and increased employee-consumer interaction and operational productivity by 34%. About 67% of the workforce is expected to adopt bring your own devices (BYOD) policy for work; this further emphasizes the need for network security for mobile and remote devices. According to the report, by 2023, 30% of IT organizations will extend their BYOD policy to cater to employees' wearables in the workforce, which will further drive the market.
• However, a lack of awareness of the critical benefits of software-defined perimeter solutions and the rise in demand for free and open-source security standards can hamper the market's growth.
• While many organizations put "deploying zero trust" on their "to-do" list, the COVID-19 pandemic sped up zero-trust adoption. Furthermore, with the rise of the cloud, the increasing use of software-defined wide area networks (SD-WANs) has given a new trend demand as it is a future-proof security model that encompasses the ways to detect and block exploits, phishing, ransomware, and other modern malware.

Software-Defined Perimeter Industry Segmentation

A software-defined perimeter is an approach to computer security that micro-segments network access and eliminates the surface of attack. It authenticates and authorizes all endpoints that try to access a particular infrastructure and reduces the surface area of attack by hiding network resources from unauthorized users. It operates in cloud networks, provides expandable security, and eliminates credential theft, internal network attacks, malware, and man-in-the-middle attacks.

The software-defined perimeter market is segmented by type (solutions and services), by deployment mode (cloud and on-premise), by end-user verticals (BFSI, telecom and it, healthcare, retail, and government), and by geography (North America, Europe, Asia-Pacific, and Rest of the World).

The market sizes and forecasts regarding value (USD million) for all the above segments are provided.