Adroit Market Research - Industry Insights
Zero Trust Security Market by Solution Type (data security, API security, network security, endpoint security, security analytics, security policy management, security orchestration automation and response and others), Deployment Type (on-premise, cloud), Authentication (single-factor authentication, multi-factor authentication), Organization Size (large enterprises, SMEs), Industry Vertical (retail, IT & ITES, healthcare and social assistance, utilities, financial, and insurance, others), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America), Global Forecast 2018 to 2028
Sep 2021
Total Pages: 139
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The global zero trust security market anticipates greater potential for sustainable growth hitting a total market size of approximately USD 59.43 billion by 2028 progressing at a CAGR of 15.2%. Exponential hike in growth can be attributed to the rapidly surging adoption of cloud technology coupled with proliferation of endpoint devices which are collectively fuelling implementation of zero trust security solutions. Majority of business frameworks rely heavily on networking technology along with digital or web-based systems which increases their susceptibility to cyberattacks increasing vulnerability to unauthorized access.
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As organizations worldwide are amidst restructuring their businesses to comply with government mandates of responsible business delivery, remote operations are gaining traction. This has led to emergence of multiple challenges in terms of data threat and access, facilitating greater adoption of zero trust security. However, as several middle- and small-income group business are still transitioning to remote work culture, budget is a significant challenge which is restricting their full-fledged adoption of zero trust security solutions.
Growing adoption of IoT devices is continuously increasing the risks of cyber-attacks, furthering new opportunities in global zero trust security market. COVID-19 pandemic has significantly transformed the working policies to remote or WFH working patterns further fuelling the need for a robust and secured framework, thereby stoking growth opportunities in zero trust security market.
The need for securing highly complex networks along with rising network administration visibility and the surging need to prevent and combat internal as well as external threats associated with unauthorized access is accelerating demand for reliable security solutions thus boosting the growth of the global zero trust security market. Constantly advancing technologies and strengthening internet connectivity and speed over the last decade has elevated internal or external web threats. Reviewing reported attacks and invasions highlights that the incidences of data breaches and data exposure has increased significantly. In addition, gaps in in-house skilled professionals is driving organization’s need to outsource security services.
The zero trust security solutions are a spin-off from the elaborate zero trust security infrastructure that promotes strict identity verification process. The system ensures establishment of a framework that allows only authenticated or authorized users and devices access to applications and data. This ensures the framework safeguards applications as well as users against advanced web-based threats. Zero trust refers to an end-to end security service that adheres to full encryption of data transfer thus protecting and preventing potential cyberattacks and breaches.
Global zero trust security market players are well-placed along with the new market entrants introducing technologically equipped framework and innovative models replacing the traditional approach used in safeguarding web networks particularly stressing upon the evolution in fields of cloud technology. The fierce competitive nature of the industry coupled with constant up-gradations in the product technology has resulted in market consolidation.
The major players of the global zero trust security market are Cisco Systems, Palo Alto Networks, Akamai Technologies, Trend Micro, Symantec, Check Point Software Technologies, IBM Corp., McAfee Corp, FireEye, Microsoft Corp., Fortinet, Forcepoint, VMWare, SonicWall, Cloudflare, Google LLC and Cyxtera Technologies. The zero trust security solutions market is composed of firm establishments of local players coupled with globally well-known players. In addition, the assessed market players are proposing novel strategies and innovative technological solutions to gain a competitive advantage in the global market.
Key Segments of the Global Zero Trust Security Market
Solution Type Overview, 2018-2028 (USD Billion)
- Data Security
- API Security
- Network Security
- Endpoint Security
- Security Analytics
- Security Orchestration Automation and Response
- Security Policy Management
- Others
Deployment Type Overview, 2018-2028 (USD Billion)
- Cloud
- On-Premise
Authentication Type Overview, 2018-2028 (USD Billion)
- Single-factor Authentication
- Multi-factor Authentication
Organization Size Overview, 2018-2028 (USD Billion)
- Large Enterprises
- SMEs
Industry Vertical Overview, 2018-2028 (USD Billion)
- Retail
- IT and ITES
- Healthcare and Social Assistance
- Utilities
- Financial and Insurance
- Others
Regional Overview, 2018-2028 (USD Billion)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
South America
- Brazil
- Mexico
- Rest of South America
Middle East & Africa
Reasons for the study
- Purpose of the market analysis to provide an exhaustive outlook and crucial insights of the global zero trust security market allowing you to claim your place in the competitive arena.
- Ensure you stand firm with thorough understanding of industry updates as the key players accelerate innovations to boost the market.
What does the report include?
- The study conducts assessment of the competitive landscape comprising of already established players as well as young entrants or prospective entrants in the global zero trust security market along with their strategic initiatives for enhancing product development.
- The study report embodies a collective display of market segmentation which has been industriously studied to gather growth intensive pointers.
- Accurate determination of market sizes along with forecast estimations have been included for each of the market segments.
Who should buy this report?
- The report on the global zero trust security market provides key findings for all the market participants across the vulnerable security industry including service providers, users, and digital platform developers
- Business investors and capitalists looking for futuristic outlook related information of the global zero trust security market
- Consultants, analysts, and software experts seeking insights remodeling the global zero trust security market.
Rapidly rising target-based cyberattacks coupled with increasing data protection regulations focusing on information security are propelling the growth of global zero trust security market. Targeted web-based attacks have grown substantially over the last few years resulting in undesired network invasions successfully infiltrating the target’s framework infrastructure all the while keeping its identity hidden. Evolution in technology has had a consequential effect in strengthening the ability of cyber breaches and hackers to successfully invade privacy. Attackers with a fixed target typically invade networks, disrupt end-points, on-premises devices, data, cloud-based applications and other types of IT infrastructure.
New hacking practices are accelerating the need for secure and advanced zero trust framework by organizations. Such forms of targeted cyberattacks render integral business operations in an organization exposed to hampered productivity and heavily impacted due to business disruptions, financial losses incurred after invasions, loss of intellectual property along with the loss of sensitive customer-specific information. Rising demand for enhanced visibility as a result of the increasing IoT traffic among organizations is considered to be a big challenge for the zero-trust industry.
Solution Type Segment
Based on the type of solution, the market is fragmented into data security, network security, endpoint security, API security, security policy management, security analytics, Security orchestration automation and response and others. While data security held a dominant position in the historic years, the endpoint security segment is expected to grow significantly over the forecast period with an optimum revenue share. The cloud or network security segment is estimated to register exponential growth throughout the forecast period with surging reliance on cloud technology.
Deployment Type Segment
On-premises and cloud-based deployment are the major segment variants. The on-premises segment has largely dominated the market with largest revenue share in the previous years and is projected to gather fastest CAGR over the forecast period. Nonetheless, the cloud deployment segment is also anticipated to grow significantly owing to rising inclination of enterprises towards cloud-based solution due to its affordability and benefits.
Organization Size Segment
SMEs and large enterprises are the major segment variants based on the size of the organization. The large enterprises segment held a dominating revenue share earlier and is likely to retain its standing for maximum revenue over the forecast period. SMEs segment is expected to witness fastest CAGR through the forecast years with the rising need for small scale organizations for highly secure framework.
Authentication Type Segment
Based on the type of authentication, the market is categorized into single-factor and multi-factor authentication segment. The multi-factor authentication segment spearheaded the market growth in the past years accounting for majority of revenue share and is estimated to register fastest growth rate over the forecast period owing to the higher level of security provided via the multi-level authorization system.
Industry Vertical Segment
The IT and Telecom industry led the market in the last couple of years with highest revenue share and is anticipated to continue dominating the industry vertical segment throughout the forecast years as well. Incumbents within the telecom industry typically services that focus on data transfer and primarily spend on security-focused technologies. The healthcare segment is anticipated to grow exponential registering fastest CAGR over the forecast owing to the constantly innovating and advancing technologies such as highly efficient telehealth services.
North America led the market previously accounting for substantial market share and is likely to experience significant growth over the forecast period also, due to the surging demand for zero trust security solutions which is encouraged by rise in government spending in enhancing the security services and solutions. Rapidly rising advancement in the fields of IoT, AI, and digital or cloud technologies is further boosting adoption of the same across SMEs as well as large enterprises. Asia Pacific is expected to emerge as a prominent marketspace projected to grow exponentially over the forecast owing to the rising incidences of data breaches and associated consequences.
The global zero trust security market anticipates greater potential for sustainable growth hitting a total market size of approximately USD 59.43 billion by 2028 progressing at a CAGR of 15.2%. Exponential hike in growth can be attributed to the rapidly surging adoption of cloud technology coupled with proliferation of endpoint devices which are collectively fuelling implementation of zero trust security solutions. Majority of business frameworks rely heavily on networking technology along with digital or web-based systems which increases their susceptibility to cyberattacks increasing vulnerability to unauthorized access.
As organizations worldwide are amidst restructuring their businesses to comply with government mandates of responsible business delivery, remote operations are gaining traction. This has led to emergence of multiple challenges in terms of data threat and access, facilitating greater adoption of zero trust security. However, as several middle- and small-income group business are still transitioning to remote work culture, budget is a significant challenge which is restricting their full-fledged adoption of zero trust security solutions.
Growing adoption of IoT devices is continuously increasing the risks of cyber-attacks, furthering new opportunities in global zero trust security market. COVID-19 pandemic has significantly transformed the working policies to remote or WFH working patterns further fuelling the need for a robust and secured framework, thereby stoking growth opportunities in zero trust security market.
The need for securing highly complex networks along with rising network administration visibility and the surging need to prevent and combat internal as well as external threats associated with unauthorized access is accelerating demand for reliable security solutions thus boosting the growth of the global zero trust security market. Constantly advancing technologies and strengthening internet connectivity and speed over the last decade has elevated internal or external web threats. Reviewing reported attacks and invasions highlights that the incidences of data breaches and data exposure has increased significantly. In addition, gaps in in-house skilled professionals is driving organization’s need to outsource security services.
The zero trust security solutions are a spin-off from the elaborate zero trust security infrastructure that promotes strict identity verification process. The system ensures establishment of a framework that allows only authenticated or authorized users and devices access to applications and data. This ensures the framework safeguards applications as well as users against advanced web-based threats. Zero trust refers to an end-to end security service that adheres to full encryption of data transfer thus protecting and preventing potential cyberattacks and breaches.
Global zero trust security market players are well-placed along with the new market entrants introducing technologically equipped framework and innovative models replacing the traditional approach used in safeguarding web networks particularly stressing upon the evolution in fields of cloud technology. The fierce competitive nature of the industry coupled with constant up-gradations in the product technology has resulted in market consolidation.
The major players of the global zero trust security market are Cisco Systems, Palo Alto Networks, Akamai Technologies, Trend Micro, Symantec, Check Point Software Technologies, IBM Corp., McAfee Corp, FireEye, Microsoft Corp., Fortinet, Forcepoint, VMWare, SonicWall, Cloudflare, Google LLC and Cyxtera Technologies. The zero trust security solutions market is composed of firm establishments of local players coupled with globally well-known players. In addition, the assessed market players are proposing novel strategies and innovative technological solutions to gain a competitive advantage in the global market.
Key Segments of the Global Zero Trust Security Market
Solution Type Overview, 2018-2028 (USD Billion)
- Data Security
- API Security
- Network Security
- Endpoint Security
- Security Analytics
- Security Orchestration Automation and Response
- Security Policy Management
- Others
Deployment Type Overview, 2018-2028 (USD Billion)
- Cloud
- On-Premise
Authentication Type Overview, 2018-2028 (USD Billion)
- Single-factor Authentication
- Multi-factor Authentication
Organization Size Overview, 2018-2028 (USD Billion)
- Large Enterprises
- SMEs
Industry Vertical Overview, 2018-2028 (USD Billion)
- Retail
- IT and ITES
- Healthcare and Social Assistance
- Utilities
- Financial and Insurance
- Others
Regional Overview, 2018-2028 (USD Billion)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
South America
- Brazil
- Mexico
- Rest of South America
Middle East & Africa
Reasons for the study
- Purpose of the market analysis to provide an exhaustive outlook and crucial insights of the global zero trust security market allowing you to claim your place in the competitive arena.
- Ensure you stand firm with thorough understanding of industry updates as the key players accelerate innovations to boost the market.
What does the report include?
- The study conducts assessment of the competitive landscape comprising of already established players as well as young entrants or prospective entrants in the global zero trust security market along with their strategic initiatives for enhancing product development.
- The study report embodies a collective display of market segmentation which has been industriously studied to gather growth intensive pointers.
- Accurate determination of market sizes along with forecast estimations have been included for each of the market segments.
Who should buy this report?
- The report on the global zero trust security market provides key findings for all the market participants across the vulnerable security industry including service providers, users, and digital platform developers
- Business investors and capitalists looking for futuristic outlook related information of the global zero trust security market
- Consultants, analysts, and software experts seeking insights remodeling the global zero trust security market.
1. Introduction
1.1. Introduction
1.2. Market Definition and Scope
1.3. Units, Currency, Conversions, and Years Considered
1.4. Key Stakeholders
1.5. Key Questions Answered
2. Research Methodology
2.1. Introduction
2.2. Data Capture Sources
2.3. Market Size Estimation
2.4. Market Forecast
2.5. Data Triangulation
2.6. Assumptions and Limitations
3. Market Outlook
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. Porter’s Five Forces Analysis
3.4. PEST Analysis
4. Zero Trust Security Market by Solution Type, 2018-2028 (USD Billion)
4.1. Data Security
4.2. Network Security
4.3. API Security
4.4. Security Policy Management
4.5. Security Analytics
4.6. Security Orchestration Automation and Response
4.7. Endpoint Security
4.8. Others
5. Zero Trust Security Market by Deployments, 2018-2028 (USD Billion)
5.1. On-Premises
5.2. Cloud
6. Zero Trust Security Market by Authentication Type, 2018-2028 (USD Billion)
6.1. Single-factor Authentication
6.2. Multi-factor Authentication
7. Zero Trust Security Market by Organization Size, 2018-2028 (USD Billion)
7.1. Large Enterprises
7.2. SMEs
8. Zero Trust Security Market by Industry Vertical, 2018-2028 (USD Billion)
8.1. IT and ITES
8.2. Retail
8.3. Healthcare and Social Assistance
8.4. Utilities
8.5. Financial and Insurance
8.6. Others
9. Zero Trust Security Market by Region 2018-2028 (USD Billion)
9.1. North America
9.1.1. US
9.1.2. Canada
9.2. Europe
9.2.1. UK
9.2.2. Germany
9.2.3. France
9.2.4. Rest of Europe
9.3. Asia Pacific
9.3.1. China
9.3.2. Japan
9.3.3. India
9.3.4. Rest of APAC
9.4. South America
9.4.1. Brazil
9.4.2. Mexico
9.4.3. Rest of South America
9.5. Middle East & Africa
10. Competitive Landscape
10.1. Company Ranking
10.2. Market Share Analysis
10.3. Strategic Initiatives
10.3.1. Mergers & Acquisitions
10.3.2. New Product Launch
10.3.3. Others
11. Company Profiles
11.1. Cisco Systems
11.1.1. Overview
11.1.2. Products Portfolio
11.1.3. Recent Initiatives
11.1.4. Company Financials
11.2. Palo Alto Networks
11.3. Akamai Technologies
11.4. Trend Micro
11.5. Symantec
11.6. Check Point Software Technologies
11.7. IBM Corp.
11.8. McAfee Corp
11.9. FireEye
11.10. Microsoft Corp.
11.11. Fortinet
11.12. Forcepoint
11.13. VMWare
11.14. SonicWall
11.15. Cloudflare
11.16. Google LLC
11.17. Cyxtera Technologies
12. Appendix
12.1. Primary Research Approach
12.1.1. Primary Interview Participants
12.1.2. Primary Interview Summary
12.2. Questionnaire
12.3. Related Reports
12.3.1. Published
12.3.2. Upcoming