The software defined perimeter (SDP) market is expected to reach US$12,247.9 mn in evaluation by 2025 end, clocking a robust 30.9% CAGR. The market was valued at US$1,129.5 mn in 2016. It is expected to continue its robust growth, thanks to rising challenges with IT security, collaboration, access, and incorporation of technologies like cloud.
The SDP solutions promise to provide a stable and robust access to IT firms without the need to deploy their individual security teams, which are expected to reduce costs significantly, and cater to growing demand of a mobile workforce.
Recent history of security hacks present a challenging picture for enterprises around the globe. Here are some major incidences which shook the world.
- In November 2018, the US department of Justice indicted two men which used SamSam ransom ware. These two men caused Medstar Health, and Hollywood Presbyterian Medical Center to lose more than $30 million. Despite their indictment, these losses were separate from their extortion payments.
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- Jackson County, in Georgia paid $400,000 to hackers to avoid attack of ransom ware. Similar attacks were witnessed in 2019 by Albany in New York, Imperial county in California, Greenville city in North Carolina, and Augusta, Maine.
- It was reported that over 5 million TSL servers can be impacted as a handling code of the Exim mail transfer agent was leaked to hackers.
Key Trends in the SDP Market
- The large sum of losses, extortion payments, and potential liabilities are expected to deter many enterprises to avail the SDP solutions. Additionally, despite the threats it is unlikely that small counties, and enterprises will be able to upgrade their infrastructure in time to meet the potential security threats. Moreover, the SDP model is a highly secure one. It was developed on the back of Defense Information Systems Agency’s work. It promises the most secure way to access on a need-to-know basis for outsiders. Hence, authentication requires extremely high security which is expected to boost growth of the software defined perimeter market in the near future.
- The growth of cloud is also expected to drive significant growth for the software defined perimeter market in the near future. Major technogy companies like Google, Microsoft, and Amazon are betting big on cloud. Additionally, the large investments to outdo each other are expected to keep costs low during the foecast perid.