Software-Defined Security Market Worth 6.76 Billion USD by 2021

Sep 13, 2016, 12:30 ET from MarketsandMarkets

PUNE, India, September 13, 2016 /PRNewswire/ --

According to a new market research report "Software-Defined Security Market by Component (Solution and Services), Enforcement Point (Virtual Machines, Network Security Gateway), Deployment Mode (Cloud and On-Premise), End User (Enterprise, Telecom/Cloud Service Provider) - Global Forecast to 2021", published by MarketsandMarkets, market to grow from USD 1.59 Billion in 2016 to USD 6.76 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 33.6%.

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Browse 95 market data Tables and 54 Figures spread through 158 Pages and in-depth TOC on "Software-Defined Security Market"

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The Software-Defined Security Market is growing rapidly because of the need for policy-driven, scalable, and programmable security architecture, need for faster response and increased security, and upsurge in cloud adoption.

"Control automation & orchestration solution to grow at the highest CAGR" 

The report segments the global market on the basis of solutions that includes security software, control automation & orchestration solution, security compliance & policy management, and performance management & reporting. Control automation & orchestration solution is expected to witness the highest growth rate. Automation and orchestration allows for the provisioning and automated configuration of all of the individual resources that collectively comprise Software-Defined Security.

"Support & maintenance service to grow at the highest CAGR" 

The report segments the services into support & maintenance, training & education, integration & testing, and consulting services. Among these, support & maintenance services are expected to witness the highest CAGR. Automation and orchestration allows for the provisioning and automated configuration of all of the individual resources that collectively comprise Software-Defined Security. Support and maintenance services are critical service offering in this market, which includes assistance provided during installation and maintenance activities. These services are basically provided for data and software/solution maintenance.

"Cloud service providers to experience the highest CAGR" 

Among end users, cloud service providers will lead the Software-Defined Security Market with a wide range of organizations adopting these solutions in all regions. Software-Defined Security provides a flexible and centralized security solution by abstracting the security mechanisms from the hardware layer to a software layer. Such separation provides a scalable distributed security solution, which virtualizes the security functions but remains manageable as a single logical system.

"North America to be the largest revenue generator" 

The report has been segmented by region into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America. North America is expected to continue being the largest revenue generator region for Software-Defined Security vendors for the next five years, followed by Europe. Whereas, MEA is expected to be the fastest-growing region in the Software-Defined Security Market during the forecast period. The market growth in developing regions can be attributed to the enhancements in technology.

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Major vendors that offer Software-Defined Security solutions are Check Point Technologies (Israel), Cisco Systems (California), Intel Corporation (California), VMware, Inc. (California), Symantec Corporation (California), EMC Corporation (Massachusetts), Fortinet, Inc. (California), Juniper Networks (California), and Palo Alto Networks (California). These vendors have adopted different types of organic and inorganic growth strategies such as new product launches, partnerships & collaborations, and mergers & acquisitions to expand their offerings in the Software-Defined Security market.

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