MICROSEGMENTATION MARKET ANALYSIS

Microsegmentation Market, By Component (Software and Services), By Service (Managed Services and Professional Services), By Security (Network Security, Database Security, and Application Security), By Deployment Type (On-premises and Cloud), By Organization Size (SMEs and Large Enterprises), By Vertical (Government & Defense, BFSI, IT & Telecom, Healthcare, Retail, Manufacturing, Energy & Utility, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Jan 2023
Code : CMI4235
Pages :150
Formats :
Excel and PDF
Industry : Information and Communication Technology

Market Challenges And Opportunities

Market Restraint

Most companies are adopting SaaS (Software as a Service) based applications for security purposes and it has been observed that 35% of the organizations were using this application in 2017. The adoption rate is expected to reach 73% by 2020. For instance, in June 2019, Cipher cloud, a provider of cyber securities solutions, launched a new safety feature in its CipherCloud Zero Trust CASB+ platform, which is used to prevent threats by using data protection techniques. These factors are expected to increase demand for microsegmentation.

The major factor restraining the growth of the global microsegmentation market is the high operational and infrastructure cost of installing these services. All companies are migrating to the SaaS or cloud platform in order to protect their data from cyberattacks and this migration will involve time & money investment. Thus, in turn, is expected to hinder the growth of the microsegmentation market over the forecast period.