Work-From-Home Implementations to Strengthen Growth of Software Defined Perimeter Market: TMR

- Large-scale adoption of cloud technology and the escalating threat of cyber attacks are prominent growth factors associated with the software defined perimeter market

- Considering the diverse factors associated with influencing the growth rate, the global software defined perimeter market is expected to expand at a CAGR of 31 percent between 2020 and 2030

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Transparency Market Research

Sep 22, 2020, 13:30 ET

ALBANY, N.Y., Sept. 22, 2020 /PRNewswire/ -- The need for developing a modern and successful security framework for cloud technology is essential. Traditional defense methods like firewalls have their limitations and do not prove efficient for protecting application infrastructure. Hence, this factor will make way to invite profound growth for the software defined perimeter market.

The TMR analysts, after research on various aspects related to software defined perimeter market foresee the global software defined perimeter market to expand at a healthy CAGR of 31 percent across the assessment period of 2020-2030. The global software defined perimeter market was valued at ~US$ 2.7 bn and is estimated to reach US$ 40.1 bn by 2030.

The increase in the rate of work-from-home (WFH) mechanism due to the COVID-19 outbreak may lead to a tremendous demand for software defined perimeter. This aspect may bring a positive change in the growth rate of the software defined perimeter market.

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Software Defined Perimeter Market: Transparency Expert Diagnosis

The analysts credit the strengthening web of remote working mechanisms as a prominent growth factor for the software defined perimeter market. Other factors highlighted by the analysts are heightening need for enhancing security and authentication services for on-premise and cloud applications. The analysts further opine that the work-from-home (WFH) mechanism will invite expansive growth for the software defined perimeter market.

Explore 243 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Software Defined Perimeter Market (Component: Software and Services [Consulting, System Integration, and Operation & Maintenance]; Deployment: Cloud and On-premise; Application: Security and Authentication; and End User: BFSI, IT & Telecom, Manufacturing, Defense, Healthcare, Government, Education, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030 at https://www.transparencymarketresearch.com/software-defined-perimeter-market.html

Software Defined Perimeter Market: Key Revelations

The authentication segment acquired a prominent share in 2019 in terms of application
Based on end-user, the healthcare sector accrued the largest share of the global software defined perimeter market
North America dominated the global software defined perimeter market in terms of geography
North America is also prognosticated to hold the same position in this forecast period
The U.S. harnesses extensive growth for North America
The U.S is expected to expand at a CAGR of 28.8 percent during the assessment period
Asia Pacific clenched a prominent regional share in 2019 and is also expected to continue the same run through the forecast period
South America, the Middle East and Africa, and Europe may expect moderate growth

Analyze global software defined perimeter market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Software Defined Perimeter Market: Growth Boosters

Seamless connectivity to any network and support for devices such as PCs, laptops, mobile devices, and the Internet of Things (IoT) devices invite magnifying demand for the software defined perimeter market.

Software defined perimeter offer high encryption, adding an extra layer of security, thus increasing the demand
Multiple authentications enable organizations to identify illegal users and this feature invites great growth opportunities for the software defined perimeter market
Strategic alliances between the players in the software defined perimeter market further invite expansive growth prospects
Software defined perimeter also extend security measures for hybrid and multi-cloud access and offer complete flexibility, thus sowing the seeds of growth across the software defined perimeter market

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Software Defined Perimeter Market: The Pandemic Effect

Workplaces were shut due to the novel coronavirus contagion and this led to large-scale implementation of the work-from-home (WFH) mechanism, especially across the IT industry. Seeing the rising threat of COVID-19, most of the workplaces have extended WFH till the end of 2020 or the first quarter of 2021. This aspect may boost the growth of the software defined perimeter market. As VPNs continue to present a range of challenges, the demand for software defined perimeter market is bound to increase.

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Global Software Defined Perimeter Market: Segmentation

By Component

Software
Services

Consulting
System Integration
Operation & Maintenance

By Deployment

Cloud
On-premise

By Application

Security
Authentication

By End User

BFSI
IT & Telecom
Manufacturing
Defense
Healthcare
Government
Education
Others

By Region

North America
Europe
Asia Pacific
Middle East & Africa
South America

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Automatic Number Plate Recognition [ANPR] Market – The automatic number plate recognition (ANPR) market is expected to expand at a favorable CAGR of ~9% during the forecast period. However, common shortcomings of ANPR systems such as failing to detect vehicles travelling over 30mph are likely to inhibit market growth. Hence, manufacturers are increasing their R&D capabilities to develop systems with advanced recognition software.

Application-level Encryption Market – The application-level encryption market is projected to surpass the revenue of US$ 8 Bn by 2030. IT companies are increasing efforts to combine application encryption with other cryptographic techniques and use cases such as Point-to-Point Encryption (P2PE). They are increasing efforts to abide by the international standards of security compliance to stay relevant in the industry. As such, financial institutes and healthcare industries are creating incremental opportunities for IT companies.

Small Cell 5G Network Market – The proliferation of IoT (Internet of Things) in the machine communication infrastructure is one of the key market drivers. Millions of connected devices and smart sensors are expanding the massive IoT infrastructure in telecommunication sectors. As such, telecom operators are rethinking and updating their antiquated IoT strategies.

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