The increasing number of cyber-attacks are boosting the Zero-Trust Security Market growth
The global zero-trust security market size is anticipated to reach nearly USD 38 billion by 2025. In addition, it is expected to exhibit a CAGR of over 17% during the forecast years 2018-2025. Based on the principle of always verify and never trust, zero-trust security is an advanced cyber-security solution of the modern environment. Before entering the network and getting access it demands authentic verification from an insider as well as an outsider. Moreover, it has numerous advantages such as it provides reliable security mechanisms, simple-to-use, and cost-effective. Hence, such factors driving the demand for zero-trust security among numerous enterprises and organizations.
The current and future zero-trust security market advances are defined to state the attractiveness of the market. Key impacting aspects focus on the zero-trust security of market opportunities during the forecast period. Factors such as the increasing number of sophisticated cyber-attacks are driving the market growth. Also, the increasing strict government regulations and compliance related to security are also boosting the global zero-trust security market growth. However, less adoption among small & medium enterprises due to budgetary constraints is expected to hamper the market growth. Furthermore, the growing IoT traffic and increasing need for better visibility of network infrastructure are anticipated to be opportunistic for the market.
The report also highlights various aspects of the global zero-trust security industry by analyzing the market through value chain analysis. Besides, the zero-trust security market report covers different qualitative aspects of the zero-trust security industry in market drivers, key industry opportunities, and restraints. Furthermore, the report proposes a comprehensive valuation of the market competitiveness along with company profiling of residents as well as global vendors.
The zero-trust security market has solid competition among the early established and new players. Also, to capture a competitive advantage over the other industry players many industry players are aiming potential markets by forming collaboration and partnerships, agreements, mergers & acquisitions, acquiring new startups & other companies, and escalating their business presence.
In terms of industry vertical, the market is segmented into government & defense, healthcare, BFSI, retail, energy & utilities, and others. The government & defense industry is projected to gather the highest growth during the forecast period. The increasing need to secure government data security, network security, endpoint security, and other infrastructure is driving the adoption of zero-trust security solutions in this industry. However, The BFSI industry captured the major market share in 2019 and it is expected to do so throughout the forecast period. The growth of this segment is mainly attributed to the increasing cyber-attacks on banks and the individuals’ accounts.
The Asia-Pacific region is projected to experience the highest growth throughout the forecast period. The increasing adoption of digital payments and internet banking is anticipated to drive the market growth in this region. However, the North American region dominated the overall market in 2019 and it is expected to keep its position throughout the forecast period 2018-2025. The dominance of this region is mainly attributed to the existence of the majority of the zero-trust security solution and service providers in this region.
The major players of the global zero-trust security market are Forcepoint, Akamai Technologies, Centrify, Symantec, Palo Alto Networks, Cisco Systems, Sophos Group, Microsoft, Fortinet, and IBM. Moreover, the other prospective players in the zero-trust security market are Check Point Software Technologies, Cyxtera Technologies, Okta, Trend Micro Incorporated, and Cloudflare. The zero-trust security market comprises well established local as well as global players. In addition, the already recognized market players are coming up with new innovative products and solutions to stay competitive in the global market.
Segment Overview of Global Zero-trust security Market
Authentication Type Overview, 2018-2025 (USD Billion)
- Single-Factor Authentication
- Multi-Factor Authentications
Solution Overview, 2018-2025 (USD Billion)
- Endpoint Security
- Data Security
- API Security
- Network Security
- Security Analytics
Industry Vertical Overview, 2018-2025 (USD Billion)
- Government & Defense
- Energy & Utilities
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America