Rise in demand for integrated data protection and workload isolation, growing cyber-attacks across the globe, and increasing awareness about benefits of micro segmentation technology such as reduced attack surface, improved lateral movement security, secured critical applications, and improved regulatory compliance posture majorly drive growth of the micro segmentation technology market.
However, high cost of advanced security solutions and complex configuration hinders growth of the micro segmentation technology market. Furthermore, increase in adoption of cloud computing and strict data security standards and regulations across the globe is expected to create multiple opportunities for the micro segmentation technology market.
With the implementation of micro segmentation technology, the organizations will allow security team to gain greater infrastructure visibility and secure critical applications. It also helps to prevent consistent security across all the different platforms with delivering process level granularity which in turn helps align security policies with application logic. In addition to this, it also enables security policies which can be implemented in the data center and cloud consistently.
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One of the major challenges faced by small and medium enterprises is complex configuration of micro segmentation technology. In this, the network must first be ready to participate in the level of configuration.
Rise in adoption of microsegmentation technology for cloud applications and services:
Moving applications and data from fully self-controlled to third party-controlled realms poses a significant cyber security concern to most enterprises which generate the need for the adoption of micro segmentation technology for security purpose.
In addition to this, micro segmentation offers granularity at a time with the adoption of cloud services and new deployment options like containers that decrease the reliance and effectiveness of traditional perimeter security such as antivirus and firewalls.
COVID-19 scenario Analysis:
- The emergence of COVID-19 pandemic has severely affected almost all industries across the world. Further, lockdown enforcements and restrictions on movements of non-essential goods as well as resources in various countries has disrupted the supply chain of electronic components & networking equipment. Thus, this has led to delay in supply of electronic components required in manufacturing of equipment.
- It is expected that the U.S. and global tech market growth is slowing down to nearly 2% in 2020, due to which ICT spending in major economies such as the U.S. have declined in the first half of 2020, but it is expected to recover in the second half.
- In addition, there is a notable ramp-up in technologies such as work-from-home infrastructure, collaboration tools, virtualization infrastructure, VPN networking, mobile devices, security, desktop support and zoom during the COVID-19. Interest for video conferencing solution is surging during the crisis. This generates large amount of data and will require high end technologies to analyze.
- Furthermore, there are strong indications that the current decrease in demand for technology and digital solutions will be just a short-term phenomenon. In the medium-to-long run the COVID-19 technology impact may be extremely positive. Everyone is forced to embrace new technologies and discover their benefits. Additional investments in digital infrastructure can be expected.
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