Proliferation of endpoint devices added with growing adoption of cloud technology solutions is fuelling the need for integrating zero trust security solution thereby boosting the market growth
Zero trust solutions are experiencing rapid growth in the rate of adoption owing to the rising inclination of businesses towards digital platforms and web-based solutions which increases the risk of cyber breaches and web invasions thus escalating the popularity of zero trust security. As a result, the market is estimated to progress substantially, at a CAGR of 15.2% by 2028, registering over USD 59.43 billion market size.
A zero-trust security model is designed in a way that it adheres to strict identity verification protocols thereby ensuring integration of a framework that allows only authenticated and authorised users or devices to access applications and data. The security model effectively protects applications and users from web-based threats. The framework is based on an end-to-end security service fully encrypted to maintain the privacy of data transfer. Increasing web traffic and massive amounts of data volume increases the concern over data breach or invasion of private information thus raising the need for secure solutions.
Factors such as rising need for management and security of highly complex networks along with increasing network visibility are rapidly fuelling the demand for advanced zero trust solutions. Technological evolution has had many productive outcomes but has also come up with a few undesired consequences; for instance, the strengthening capabilities of hackers to successfully gain access to an organization’s private data archive while remaining anonymous. This is directly affecting business performance across organizations, irrespective of their sizes. Increasing orientation of businesses with cloud-based platforms coupled with the recent events followed by the COVID-19 pandemic have contributed largely to rising incidences of cyber invasions.
Adroit Market Research report on the global zero trust security market provides a conclusive review of the industry dynamics from 2018 to 2028, which covers key industry factors including the essential drivers, restrains, trends, opportunities, threats, and challenges. The market study has been conducted over the historic years from 2018 to 2020 considering 2020 as the base year of market estimation followed by the forecast years determined from 2021 to 2028.
The report delivers thorough analysis of the market status within present scenario, emerging trends and future prospects. With a porter’s five forces analysis the report further drives market study identifying the key players of the global zero trust security market positioning them based on their revenue incurred, strategic initiatives and geographic footprint.
The zero-trust security market has a robust competitive environment consisting of the well-known existing players along with new market entrants. The zero trust security market players are approaching new trends and pursuing potential markets with an optimum anticipated growth in order to acquire a competitive lead among other industry players via mergers and acquisitions of young start-ups, collaborations with other players and partnerships for enhancing business presence.
Based on the solution type segment, the market is fragmented into endpoint security solutions, data security, network security, API security, security policy management, security orchestration automation and response, security analytics and others. The endpoint security market segment is expected to grow substantially over the forecast accounting for a promising revenue share. The network security segment is also anticipated to register sustainable growth over the forecast period owing to the rising adoption of advanced digital or cloud technology.
North America is the dominating regional player with maximum share of the global zero trust security market expanding the technological avenue of zero trust security solution advancing the product portfolio. the region is expected to experience an ideal growth rate over the forecast owing to the encouraging government spending in the fields of cyber security to enhance the efficiency of security services and solutions. Organizations are rapidly adoption advanced systems based on AI or internet of things further accelerating the demand for digital solutions. Asia Pacific is expected to register a relatively fast-paced growth over the forecast owing to the surging number of SMEs threatened by cyberattacks and breaches.
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 market includes placement of the well-established local players alongside the globally networking players. The studied players are introducing novel strategies and innovative technologies with a view of enhancing 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
Deployment Type Overview, 2018-2028 (USD Billion)
Authentication Type Overview, 2018-2028 (USD Billion)
- Single-factor Authentication
- Multi-factor Authentication
Organization Size Overview, 2018-2028 (USD Billion)
- Large Enterprises
Industry Vertical Overview, 2018-2028 (USD Billion)
- IT and ITES
- Healthcare and Social Assistance
- Financial and Insurance
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East & Africa