[FURL=https://www.industryarc.com/Report/18687/software-defined-perimeter-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Software Defined Perimeter Market[/FURL] size is projected to reach US$ 25.60 billion by 2026 and is estimated to grow at a CAGR of 36.5% during the forecast period 2021-2026. With the increasing penetration of connected devices, advancements in Internet of Things (IoTs) and massive adoption of cloud-based applications the demand for Software Defined Perimeter market is estimated to gain huge traction. The alarming growth in the number of cyber-attacks such as multi-vector Distributed Denial of Service attacks (DDOS), Structured Query Language (SQL) injection, Man in the middle attacks has resulted in the growth of the market.Key Takeaways
Security compliance and policy management is analyzed to dominate the market during 2021-2026.
BFSI sector is estimated to be the fastest-growing market during 201-2026 due to exponential growth in cyber-attacks in the financial sector.
North America is estimated to dominate the market with a CAGR of 11.56% during 2021-2026 owing to the early adoption of stringent policies to protect IT assets.
Alarming growth in number of cyber-attacks and growing demand to protect financial data in BFSI sector is boosting the market.
High cost is one of the challenges impeding the growth of the market.
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Software Defined Perimeter Market Segment Analysis – By Geography
By geography, Software Defined Perimeter Market has been segmented under North America, Europe, APAC, South America, and RoW. North America dominated the market acquiring a share of 25% in 2020 and is estimated to hold the major market share with a CAGR 11.56% during 2021-2026owing to early adoption of highly regulated compliance management to protect IT assets and high investments towards secured IT infrastructure. APAC is estimated to be the fastest-growing market during the forecast period with a CAGR of 14.34% owing to the increasing transition towards digitalization and massive adoption of cloud-based applications. For the past few years, India has witnessed frequent cyber threats and attacks across various industry verticals.
Software Defined Perimeter Market Drivers
The exponential growth in Cyberattacks
Massive transition towards digitalization in the BFSI sector
Software Defined Perimeter Market Landscape
Software Defined Perimeter top 10 companies include Cisco Systems Inc., Intel Corporation, Symantec Corporation, Juniper Networks Inc., Fortinet Inc., Velo Cloud Networks Inc., Viddu Inc., Checkpoint Software Technologies Ltd, Palo Alto Networks Inc, RSA Security LLC among others.
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