Market Overview:

The Software-Defined Security market industry is projected to grow from USD 9.45 Billion in 2023 to USD 74.82 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 29.51% during the forecast period (2023 - 2032).

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Key Players:

Key Companies in the Software-Defined Security market include,

• Intel Corporation (California)
• Cisco Systems (California)
• Juniper Networks (California)
• Dell Inc. (US)
• Check Point Technologies (Israel)
• Symantec Corporation (California)

The global economy is rapidly evolving, as is the evolution of cash in the monetary system. It is the key aspect that introduces the concept of network security to the rest of the world. Because the BFSI sector deals with money and financial instruments, programmers are attempting to extract data and utilize it for their objectives. The digital protection market is being driven by an increase in malware and phishing risks among businesses, as well as an increase in the adoption of IoT and BYOD patterns across businesses. In addition, one of the major elements of the network security market development is the demand for cloud-based digital protection solutions. In addition, the growing popularity of mobile applications and platforms, as well as changes in the traditional antivirus programming business, are creating lucrative opportunities for the global network security market. A part of the primary element driving the market trends is the constant requirement to adjust to network security industry rules, guidelines, and intricacy of gadget security.

Market Segmentation: 

Based on the component, the market is segmented into administrations and arrangements.

Based on the offering,  the market is segmented into framework security, identity and access management (IAM), information security and protection administration offering, administration, risk and consistency, and combined weakness of the executive's administration offering.

Based on the transmission, the market is segmented into cloud-based and on-premises solutions.

Based on the organization size, the market is segmented into IT and Telecom, aviation and protection, retail, BFSI, public area, medical care, assembling, energy and utilities, and others.

Based on the region, the market is segmented into North America (U.S., Canada, and Rest of North America), Europe (U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, Southeast Asia, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and the Middle East and Africa (Saudi Arabia, South Africa, UAE, and Rest of the Middle East and Africa).

Regional Classification:

Legislators have been enacting new rules and regulations to ensure that patient lives and sensitive information are protected from programmers. In terms of development, the United States, Germany, Canada, France, China, and Japan must compete. Because of increased venture activities, FDI, and private and public associations, Asia Pacific is expected to be the fastest-growing region.

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Software-Defined Security Industry Developments:

January: Palo Alto Networks announces the acquisition of RedLock, a cloud-native security posture management (SPM) company.

February: Fortinet launches FortiGate 6.4, which includes new security features for software-defined wide area networks (SD-WANs).

March: Cisco Systems releases Cisco SecureX, a cloud-based security platform that integrates multiple security products and services.

April: Check Point Software Technologies unveils Check Point Harmony, a unified security platform for endpoint, network, and cloud security.

May: Palo Alto Networks releases Cortex XDR, a cloud-native extended detection and response (XDR) platform.

June: Trend Micro introduces Trend Micro Cloud One™ – Security, a cloud-based security platform that provides unified protection for cloud workloads.

July: Fortinet launches FortiSIEM 6.4, which includes new security features for SIEM and SOAR.

August: Cisco Systems releases Cisco Secure Firewall 3100 Series, a new line of next-generation firewalls (NGFWs) that are designed for software-defined networks.

September: Check Point Software Technologies unveils Check Point Quantum Security Gateway, a new NGFW that is designed to protect against advanced threats.

October: Palo Alto Networks releases Cortex XSOAR, a cloud-based SOAR platform that automates security operations.

November: Trend Micro introduces Trend Micro Vision One™, a unified security platform that provides visibility and control across the entire IT environment.

December: Fortinet launches FortiAI, a cloud-based artificial intelligence (AI) platform that automates security tasks.

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