WILMINGTON, DE, UNITED STATES, March 13, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “Software Defined Security Market by Component, Deployment Mode, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030,”
The global software defined security market size was valued at $5.3 billion in 2020, and is projected to reach $68.83 billion by 2030, registering a CAGR of 29.5% from 2021 to 2030.
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Software defined security services rely heavily on network response times; network latency influences whether an attack can be identified and prevented; and greater network latencies may allow malicious packets to get past security firewalls or intrusion detection systems without raising an alarm.
With recent developments in cloud computing and improved state of global networks and networking equipment, network latency concerns have been greatly reduced in modern day scenarios. With advanced networks implemented in popular business applications throughout the world, network delays can be decreased to the point where it is faster to redirect packets through high-end cloud-based security equipment at a remote place rather than analyze them locally. Such improvements are being realized through contemporary 5G networks, and the software defined security sector stands to benefit greatly from them.
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Competitive Analysis:
The competitive environment of Software Defined Security Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Software Defined Security Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Key Players:
Check Point Software
Technologies Ltd.
Cisco Systems, Inc.
Intel Corporation
VMware, Inc.
Symantec Corporation
EMC Corporation
Fortinet, Inc.
Juniper Networks, Inc.
Palo Alto Networks and Many More
Region-wise, the software defined security market was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the coming years.
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The COVID-19 pandemic has had a massive favorable influence on the global software defined security industry, which is projected to increase following the COVID-19 pandemic. This is attributed to the fast spread of coronavirus around the world, which forced many organizations to convert to remote working and work from home practices during the COVID-19 pandemic. Deploying costly network security hardware at these newly emerged endpoints (created by remote employees) can be costly, time-consuming, and even impractical for many businesses; in light of this, many businesses have turned to software defined security market growth for their enterprise security infrastructure and employee data security. Moreover, with sudden surge in cyber-criminal activities that targeted many organizations and their customers, the demand for improved security of confidential corporate assets rose, and along with it, the software defined security market analysis soared during the pandemic times.
Some of the key companies mentioned within the report are Check Point Software, Technologies Ltd., Cisco Systems, Inc., Intel Corporation, VMware, Inc., Symantec Corporation, EMC Corporation, Fortinet, Inc., Juniper Networks, Inc., and Palo Alto Networks.
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