Evolve Business Intelligence has published a research report on the Global Zero Trust Security Market, 2022–2033. The global Zero Trust Security market is projected to exhibit a CAGR of around 18.21% during the forecast period of 2022 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Zero Trust Security Market: Palo Alto Networks Inc, Symantec Corporation, Okta Inc, Cisco Systems Inc, Akamai Technologies Inc, Microsoft, IBM, Sophos Group, Centrify Corporation, Cyxtera Technologies.
Market Highlights
The global Zero Trust Security market is projected to be valued at USD 141.52 Billion by 2030, recording a CAGR of around 18.21% during the forecast period. The Zero Trust model requires continuous authentication and authorization, even after users and devices have gained access to the network, and enforces strict access controls and segmentation to limit lateral movement within the network. This approach is designed to mitigate the risks associated with traditional perimeter-based security models, which rely on the assumption that everything inside the network is trustworthy and that threats can be kept out by securing the perimeter. By adopting a Zero Trust Security model, organizations can better protect their critical assets, reduce the risk of data breaches, and minimize the impact of security incidents.
The market for Zero Trust Security was positively impacted by the pandemic. With the widespread adoption of remote work and cloud-based applications, the traditional perimeter-based security model became increasingly ineffective in protecting sensitive data and critical assets from cyber threats. The Zero Trust Security approach, which emphasizes continuous authentication, strict access controls, and segmentation, became more relevant than ever in this context. As a result, organizations across industries accelerated their adoption of Zero Trust Security solutions to better protect their remote workforce and cloud environments.
Segmental Analysis
The global Zero Trust Security market has been segmented based on Deployment Type, Solution Type, Authentication Type, Vertical, and region.
Based on the Deployment Type, the Zero Trust Security market is segmented based on On-Premises and Cloud. The cloud is expected to have the largest market share throughout the forecast period, while exoskeletons are expected to grow at the fastest rate.
Based on Solution Type, the global Zero Trust Security market has been divided into Network Security, Data Security, Endpoint Security, API Security, Security Analysis, and Others. The Data Security segment is anticipated to dominate the market.
Based on Authentication Type, the global Zero Trust Security market has been divided into Single-factor Authentication and Multi-factor Authentication. Multi-factor Authentication segment is anticipated to dominate the market.
Based on Vertical, the global Zero Trust Security market has been divided into IT and ITES, Financial and Insurance, Healthcare and Social Assistance, Retail Trade, Utilities, and Others. IT and ITES segments are anticipated to dominate the market.
Regional Analysis
The Zero Trust Security market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America is expected to dominate the market in terms of revenue due to the high adoption rate of Zero Trust Security solutions among organizations in the region. The United States is a major contributor to the growth of the market in North America, driven by the increasing number of cyber-attacks and the need to secure critical assets and data. Europe is also expected to witness significant growth in the Zero Trust Security market due to the presence of several key players and the increasing focus on regulatory compliance, particularly with the implementation of the General Data Protection Regulation (GDPR). The Asia-Pacific region is expected to be the fastest-growing market for Zero Trust Security, owing to the increasing adoption of cloud-based applications and the rising number of cyber threats in the region. Latin America, the Middle East, and Africa are also expected to witness significant growth in the Zero Trust Security market due to the increasing number of cyber-attacks and the growing awareness of the importance of cybersecurity among organizations in these regions.
