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 Growth. The growth sectors of the Software-Defined Security Market Growth 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.
By mode of enforcement, the market is segmented into application and mobile device security, server security, network security gateways, and others.
By mode of deployment, the market has been segmented into cloud and on-premise.
By mode of end-user, the market is segmented into telecom service providers, cloud services providers, and enterprises.
The assessment of the global security defined software market is monitored in regions such as North America, Europe, and Asia Pacific (APAC).
Of these, North America leads in the market share of security defined software due to rapid improvements of technology and adopting the latest software-based security innovation to enhance the product ability and functionality. The region is also supporting the proliferation of the market due to superior infrastructure and working mechanism.
Asia Pacific is striking with constant industrial growth by the implementation of this technology, which is ensuring massive rise especially in the regional market of India and China at a higher rate of CAGR during the forecast period. Whereas, Europe is witnessing a gradual market growth and is expected to present lucrative opportunities in the next couple of years.
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