Sandboxing Market Size to Grow at a CAGR of 26.8% During the Forecast Period 2021-2026

August 03, 2021 at 13:40 PM EDT

Sandboxing Market

Increasing Usage of IOT and Smart Devices Driving the Growth of Sandboxing Market.

Sandboxing Market size was valued at $10.2 billion by 2026 by growing at a CAGR of 26.8% during 2021-2026. The growth is mainly attributed to the significant investments in order to develop advanced cyber security through sandboxing. Furthermore, the growing emphasis towards sandbox security and advanced threat protection is also set to propel the market growth in the future. The integration of information technology with the Internet of Things (IoT) has paved the way for the breache of cyber security. The absence of the necessary identity and access management provision in the IoT technology makes most business organizations vulnerable to malware attack. Additionally, the implementation of the new and innovative technology such as virtual hosting, code snippets and code access security for intrusion prevention became a part and parcel for business organizations to secure confidential information from breach of data protection. The introduction of innovative technologies, such as Artificial Intelligence and the Internet of Things, which allows for seamless convergence between the software, hardware platform and the user, is energizing the potential for growth in the industry.

Sandboxing Market Segment Analysis - By Deployment

By deployment type the market is segmented into on-premise and cloud. Cloud based is set to grow at highest rate of 31.6% during the forecast period 2021-2026 owing to the high adoption in many firms. Rendering the cloud provides the virtually infinite computing power and enables the user to create realistic and high resolution images. Cloud deployment provides greater flexibility. Adding to this, cloud-based sandboxing solutions provide effective protection without suffering the common drawbacks of degrading the network performance or being easily evaded by clever hackers with better code access security and virtual hosting.

Sandboxing Market Segment Analysis -By End user:

BFSI is the fastest growing segment in Sandboxing market and is estimated to grow at a significant CAGR of 30.1% during forecast period 2021-2026. As stated by fogerock, Banking/insurance and government were the second and third most victimized industries, collectively comprising 20% of all breaches in 2018. Therefore the dire need of security is resulting in demand for Sandboxing market. In 2019, The Reserve Bank of India (RBI) recently finalized the setting up of a regulatory sandbox for banks, lending institutions and fintechs by releasing the final enabling framework for regulatory sandbox. In November 2019, YES BANK, India’s fourth largest private sector bank has launched YES Fintech Developer, an API sandbox with over 50 virtual APIs and improved code access security and virtual hosting, at Bengaluru. These strategies are aimed to customize the digital solutions for it’s clients.

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Sandboxing Market Segment Analysis –By Geography

North America dominated the Sandboxing market in 2020 with a share of 37.1% followed by Europe and APAC owing to the early adoption of advanced technologies in this region. In the U.S., identity threats highly target businesses. Hence, the necessity to meet compliance requirements for securing hence contributing to the market growth. As stated by Forgerock, 2.8 billion consumer data records were exposed in US at an estimated cost of more than $654 billion in 2018. Adding to this, the growing investments in the IT security is further contributing to the market growth rate. A huge sum of $114B is invested by enterprises in information security products and services in 2018.

Sandboxing Market Drivers

Rise in demand of integrated and NGFW combining power of sandboxing:

Increasing data security has become concern in the small, medium and large scale enterprises. Taking measures for the prevention of data breach has become a priority in IT security teams. Forcepoint applies layered anti-malware solutions and behavioural sandboxing to identify the malicious nature of ransom ware variants. Therefore, the demand of Sandboxing solutions is increasing and this drives the market growth.

Increasing usage of IoT and smart devices:

Increasing adoption of IoT and smart devices in industries have created demand for Sandboxing solutions. Increase in number of mobile devices among enterprises has posed issues for data management in various systems, clouds and so on which increased the threat of cybercrimes. Thus, organizations have been adopting advanced authentication security solutions including sandboxing in order to protect sensitive information of consumers. In smart homes, sandboxing based security models are deployed to contain the malicious traffic and unauthorized modification of information to limit potential attacks on integrity and confidentiality of data.

Sandboxing Market Challenges

Easy availability of free software based sandboxing solutions

The easy availability of the free software based sandboxing solutions is analysed to be a hindering factor for the market. The market is diluted with the local players providing sandboxing solutions that result in various security breaches, thereby restraining the market growth rate. In September 2019, Microsoft launched Sandboxie, a sandbox program for Microsoft's Windows operating system, has been turned into a free application.

Sandboxing Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Sandboxing market. Sandboxing market is expected to be dominated by major companies such as Cisco Systems, Symantec Corp, Ceedo Technologies, Palo Alto Networks Inc., Sophos Ltd, SonicWall Inc., Juniper Networks, Inc. and others.

Acquisitions/Technology Launches/Partnerships

In September 2019, Microsoft launched Sandboxie, a sandbox program for Microsoft's Windows operating system, has been turned into a free application.

Key Takeaways

North America dominated the Sandboxing market in term of revenue in 2019 owing to the presence of major number of players.
Increasing adoption of Sandboxing in BFSI with the growing data breaches is set to boost the adoption rate in the BFSI sector therefore is analysed to grow at highest rate during the forecast period.

Adoption of advanced technologies such as IoT, smart devices in various industries is poised to propel the market growth. As the sandbox provides security mechanism for running untested or untrusted programs or code, from unverified without risking harm to the host machine or operating system, these technologies will drive the market.

Related Reports:

A. Network Security Sandbox Market

https://www.industryarc.com/Research/Network-Security-Sandbox-Market-Research-504101

B. Container Networking Software Market

https://www.industryarc.com/Report/19252/container-networking-software-market.html

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Sandboxing Market Size to Grow at a CAGR of 26.8% During the Forecast Period 2021-2026

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