Market Trends of Software Defined Security Industry
This section covers the major market trends shaping the Software Defined Security Market according to our research experts:
Cloud is Driving Software Defined Security
- There has been a strong shift from a few years ago when most information security professionals saw the cloud as limited and secure. The cloud is now seen as transformational rather than a possible security posture tradeoff, threatening security hardware and infrastructure players, who have profited from growing cyber threats and expanding increasingly connected networks. The cloud may prove to be the driver of security transformation.
- Cloud infrastructure is designed to meet new, emerging needs, particularly in terms of vertical and horizontal scale and security. Cloud settings will typically employ technology and service-centric security solutions that can scale worldwide and smoothly without regard to location.
- Cloud computing has revolutionized how businesses utilize, distribute, and store data, apps, and workloads. It has, however, generated various new security concerns and problems. The risk grows with so much data and public cloud services being stored in the cloud. Several nations, primarily emerging economies, are at the forefront of cloud adoption, aided by end-user demand for digitization. Interconnection bandwidth capacity has been expanding due to increased demand from content, edge services, and last-mile connections to transport-led growing data volumes.
- According to Equinix's Global Interconnection Index (GXI) report, the LATAM region is predicted to dominate interconnection bandwidth capacity installation development by a 50% CAGR, with firms operating in the region contributing 1,479 Tbps by 2023. As the potential of cloud demand grows, several providers are experiencing an increase in adoption, which is driving expenditures.
- Moreover, digitalization will add to cloud delivery pressures and force IT into more software and services and away from hardware-defined tradeoffs. This factor, coupled with buyer consolidation and commoditization, will make infrastructure-as-a-service (IaaS) and managed service providers powered by software-defined abilities much more powerful than conventional hardware vendors. Therefore, due to such determinants, software-defined technologies are predicted to grow in the coming years.
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Asia-Pacific Accounts for the Fastest Growing Share in the Software-defined Security Market
- Asia-Pacific is experiencing a rapid increase in the volume of unstructured data across various enterprises in the region, which is stored not only on-premise but also in cloud environments. In addition, with the proliferation of IoT across the region, the data generated at the edge is rapidly increasing. These factors have supported a scalable, reliable, secure storage architecture.
- With high-density countries like China and India still relying on traditional hardware for their storage and the need for digital transformation to keep up with the technological changes, the region presents lucrative business for software-defined storage (SDS) vendors.
- Furthermore, the increasing cyberattacks have compelled China to bolster its defense capabilities. However, the country is also a significant source of origin for cyberattacks in other regions of the world.
- In March 2022, cybersecurity firm Mandiant alleged that a Chinese government-backed hacking organization hacked local government entities in the United States as part of an intelligence-gathering operation. According to the US authorities, the hackers utilized a significant software defect to access the networks of two states' agencies in December 2021. According to the FBI and the US Cybersecurity and Infrastructure Security Agency (CISA), the state agencies targeted included transportation, health, higher education, agricultural, court networks, and systems.
- In particular, hyper-scale and international digital media content providers and public cloud service providers, like Facebook, Google Amazon Web Services (AWS), and Alibaba Cloud, have been fundamental in pushing demand for remote storage services, significantly enhancing their uptake of data center capacity in the Asian region and particularly in Hong Kong over the past few years by building massive-scale platforms.
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