Software Defined Security Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Software Defined Security Market covers analysis by Deployment Type (Cloud Based & On-Premises); Component (Software Platform, and Service); Software (Control Automation and Orchestration Solution, Security Compliance and Policy Management, Performance Management and Reporting, Others); Service (Professional Services, Managed Services); Application (Network Monitoring, Intrusion Detection, Firewall Control, Content Filtering & malware detection, and Others); End-User (IT & Telecom Service Providers, Cloud Service Providers, BFSI, and Government), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPTE00002330
  • Category : Technology, Media and Telecommunications
  • Status : Upcoming
  • No. of Pages : 150
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The software-defined security market is projected to grow from US$ 7.13 billion in 2021 to US$ 40.73 billion by 2028; it is expected to grow at a CAGR of 28.6% from 2022 to 2028.

Software-defined security offerings help overcome challenges such as spoofing/cache poisoning, tunneling, hijacking, phantom domain attack, random subdomain attack, domain lock-up attack, and botnet-based customer premise equipment (CPE) attack. With software-defined security, organizations can block or redirect DNS requests to identify malicious domains and alert users about visiting dangerous sites or possible malware attacks by communicating with operators. According to the Global DNS Threat report by EfficientIP, India witnessed the highest number of DNS attacks in 2021. Moreover, globally ~87% of organizations experienced DNS attacks, and the average cost incurred by each attack was ~US$ 950,000. Per the Global DNS Threat Report, organizations across industries suffered an average of 7.6 attacks in 2020. Asia recorded a 15% increase in DNS attacks in 2021, and these attacks incurred the cost of US$ 908,140 in 2021, compared to US$ 792,840 in 2020. The same report by EfficientIP states that Malaysia, Spain, and France witnessed 78%, 36%, and 25% rise in damages caused by DNS attacks in 2021 Software-defined security allows organizations to inspect e-mail traffic and request access from several websites to determine their data safety. Moreover, the use of software-defined security for data exfiltration via DNS tunneling can be detected and blocked by an intrusion prevention system integrated into next-generation firewall. This helps in blocking e-mails that may contain malware and prevent users from visiting websites that may be malicious. Mimecast, Check Point Software Technologies Ltd., Comodo Security Solutions Inc., DNSFilter Inc., and DomainTools are among the software-defined security developers that offer DNS monitoring solutions. Thus, surge in DNS attacks, contributing to the growth of software-defined security market.

MARKET DYNAMICS

The IT infrastructure has grown more complicated and heterogeneous in the past five years due to new platforms, BYOD regulations, CYOD trends, business apps, and other technologies. The BYOD and CYOD trends are becoming more common in business settings due to the quick improvements in mobile computing. Through mobile devices, employees may access organizational data from anywhere, at any time, which boosts their productivity, protect organizational data from potential hazards, and maintain data confidentiality and integrity. Users' access to company data is evolving as the BYOD policy gains traction in SMEs and large corporations. Organizations are signing up for security services to shield BYOD devices such as smartphones, tablets, desktop computers, and laptops from cyberattacks. The software-defined security market is anticipated to grow with the increase in expenditure on security services.

MARKET SCOPE

The "Global Software-defined security Market Analysis to 2028" is a specialized and in-depth study  that specially focuses on market trend analysis. The report aims to provide software-defined security market overview with detailed segmentation based on component, deployment, application, and end user. The report also provides key statistics of the software-defined security market based on the revenue performances of the leading market players. It specifies key trends and opportunities in the software-defined security market.

Strategic Insights
MARKET SEGMENTATION

The software-defined security market is segmented on the basis of component, deployment, application, and end user. Based on component, the software-defined security market is segmented into solution and service. Th solution segment is further segmented into security software, control automation and orchestration solution, security compliance and policy management, and performance management and reporting. The service segment is further bifurcated into professional services and managed services. Based on deployment, the software-defined security market is segmented into on-premise and cloud-based. On the basis of application, the software-defined security market is segmented into network monitoring, intrusion detection, firewall control, content filtering and malware detection, and others. On the basis of end user, the software-defined security market is segmented as IT & telecom service provider, cloud service provider, BFSI, government, and others.


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REGIONAL FRAMEWORK

The report provides the size and forecast estimates of the software-defined security market from 2019 to 2028 with respect to five major regions—North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America. The market in each region is subsegmented into respective countries and segments. The report entails the analysis and forecast of 18 countries in the world, along with current trend and opportunities prevailing in each region.

APAC is expected to register the highest CAGR in the software-defined security market during the forecast period. With the growing use of cloud infrastructure in both developed and developing countries, the consumption of cybersecurity services is anticipated to increase during the forecast period. Additionally, data vulnerability has increased due to the expansion of the wireless network for mobile devices, making cybersecurity a crucial component of every organization. Developing countries in APAC, including India, China, and Singapore, are facing a rising number of cybersecurity-related problems every year. India has seen a spike in the number of cybercrime reports, and it currently ranks fifth across the world in terms of DNS hijacks. According to Gemalto, 37% of worldwide data breaches involve stolen or compromised Indian records. These factors are contributing to the growth of the software-defined security market in APAC countries. The following figure showcases the revenue growth trend in the global software-defined security market:

Software Defined Security MarketSource: The Insight Partners Analysis

The report analyses factors affecting software-defined security market from both demand and supply side, along with evaluating the key market dynamics, i.e., drivers, restraints, opportunities, and future trends. It also provides exhaustive PEST analysis of the software-defined security market.

IMPACT OF COVID-19 PANDEMIC

The COVID-19 pandemic benefitted the software-defined security market, and it is expected to have immediate and long-term effects on the market. Lockdown restrictions imposed in different countries hampered the operations of numerous enterprises, manufacturing facilities, and retail operations. However, the shift toward remote working environments has been a by-product of this global crisis. Adopting the work-from-home model has raised awareness among enterprises about data security and cyberattacks, thereby triggering the demand for cloud-based security solutions. Additionally, many major and small businesses have raised the amount of money they spend on cyber security-related products. Thus, the COVID-19 pandemic has changed how a company's management approaches cybersecurity.

World Geography

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MARKET PLAYERS

Various companies in the software-defined security market are focusing on organic growth strategies, such as product launches, product approvals, and patents and events. Inorganic growth strategies activities witnessed in the market are acquisitions, partnerships, and collaborations. These activities pave way for the expansion of businesses and customer based of the market players. Companies in the software-defined security market are anticipated to gain lucrative growth opportunities in the coming years.

The report includes the profiles of key software-defined security market companies along with their SWOT analysis and market strategies. In addition, this section focuses on overall company profiles, components and services offered, financial information of last 3 years, key development in the past 5 years, etc. The list of several companies engaged in the software-defined security market is mentioned below

  • Check Point Software Technologies Ltd.
  • Intel Corporation
  • Juniper Networks, Inc.
  • Cisco Systems, Inc.
  • VMware, Inc.
  • EMC Corporation
  • Palo Alto Networks
  • Fortinet, Inc.
  • Symantec Corporation
  • Versa Networks, Inc.

The Insight Partners’ dedicated research and analysis team consist of experienced professionals having advanced statistical expertise. Along with this report on the software-defined security market, the team offers various customization options related to it.Software Defined Security Market

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Deployment Type Component Software Service Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

The List of Companies

1. Check Point Software Technologies Ltd.
2. Intel Corporation
3. Juniper Networks, Inc.
4. Cisco Systems, Inc.
5. VMware, Inc.
6. EMC Corporation
7. Palo Alto Networks
8. Fortinet, Inc.
9. Symantec Corporation
10. Versa Networks, Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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