CHICAGO, July 31, 2024 /PRNewswire/ -- The Zero Trust
Security Market size is projected to grow from
USD 30.9 billion in 2024 to
USD 66.6 billion by 2029 at a
compound annual growth rate (CAGR) of 16.6% during the forecast
period, according to a new report by MarketsandMarkets™. Zero Trust
Security is a contemporary cybersecurity framework that transforms
how organizations think about security by following the principle
of "never trust, always verify." This implies that no user or
device is automatically trusted, irrespective of their place in
relation to the network perimeter. Its main ideas involve
explicitly verifying every access request using every piece of
information available, including user identity, device health, and
location. Access to the minimum required is limited through
Just-In-Time (JIT) and Just-Enough-Access (JEA) policies.
Browse in-depth TOC on "Zero Trust Security Market"
275 – Tables
51 - Figures
330 –
Pages
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Scope of the Report
Report
Metrics
|
Details
|
Market size available
for years
|
2018–2029
|
Base year
considered
|
2023
|
Forecast
period
|
2024–2029
|
Forecast
units
|
Value (USD
Billion)
|
Segments
Covered
|
By Offering, By
Security Type, By Authentication Type, By Vertical, and By
Region
|
Geographies
covered
|
North America, Europe,
Asia Pacific, Middle East Africa, and Latin America
|
Major companies
covered
|
Major vendors in the
global Zero Trust Security market include
PaloAltoNetworks(US),VMware(US),Zscaler(US),Akamai(US),
Microsoft(US),Cisco(US),IBM(US),Qnext(US),
Citrix(US),Checkpoint(Isreal),Trellix(US),Forcepoint(US),
Crowdstrike(US), Cloudflare
(US),Fortinet(US),Google(US).
|
Organizations assume that breaches might have occurred already,
which leads to strategies aimed at minimizing their impact, such as
segmenting access and ensuring end-to-end encryption. Zero Trust
was created as an answer to traditional perimeter-based models'
weaknesses, which normally assumed that internal users were safe.
Because they are often based on legacy systems, it may be
complicated for legacy systems to adopt zero trust; thus, adoption
should begin with strong identity verification before moving on.
These include improved security, less attack surface, and better
compliance benefits. Also, more organizations can adopt it because
of the increase in the increase in remote working and cloud
services, which makes it vital for zero trust adoption.
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By Offering, the services segment will grow at the highest
CAGR during the forecast period.
A number of factors are accelerating the growth of the
zero-trust security market through the services segment. Deployment
of zero-trust security is a sophisticated architectural change for
which niche skills are required, which most organizations may not
have within their in-house teams. This is where service providers
fill that gap by helping an organization make such a transition.
Growth has been driven by this demand for managed security services
due to the fact that zero trust requires everything to be monitored
and managed, which MSS providers deliver on through 24/7 support.
Consulting services are needed to drive end-to-end zero-trust
strategies that arm organizations with proper advisory capabilities
in the areas of risk assessment, policy development, and technology
selection. It caters to zero-trust solution integration and
customization services, while risk assessment and compliance
services manage associated ongoing risks and assure the required
adherence. Besides, the training and awareness programs conducted
by the service provider will help employees gain knowledge about
zero-trust principles and ensure their proper implementation.
Hence, complex zero-trust security coupled with a requirement for
specialized expertise has generated strong demand for such services
and hence driven market growth.
By Authentication Type, the multi-factor authentication
segment will grow at a highest market size during the forecast
period.
Multi-Factor Authentication (MFA) is in fact the underpinning
access security mechanism for zero trust security that tops the
market for multiple reasons. It really multiplies protection by
being very difficult for an unauthorized person, as one needs to
pass through multiple checks. Many of the on-boarded, high-value
pieces of information include regulations such as GDPR, CCPA, and
HIPAA necessitating the use MFA for protecting sensitive
information. Cyberattacks based on stolen credentials could be
easily mitigated by MFA. There are not a lot of available results
highlighting the effectiveness preventing it. That works across a
wide range of systems and applications, so it can be a one-stop
shop to cater to all access scenarios where digital resources are
involved, driven by the need for better controls altogether. But
resistance often comes from change, but then everybody relies on
access-externalized (i.e., names, addresses, and PINs/passwords)
secrecy. Many more now put names and addresses and personal photos
and videos in public-facing books globally shared with scores or
hundreds of app publishers wanting you to access their apps'
features in the car-sharing economy, representing minimal shares
from trillion-dollar businesses. Access technologies and
technologies have miserably failed the long-awaited common-sense
test, and only IDaaS guarantees decision-based real-time
enforcement and dynamic secure real-time integration within the
scope of the ecosystem infrastructure security architecture.
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By region, Asia Pacific will
grow at the highest CAGR during the forecast period.
The Asia Pacific is poised to
grow at the highest CAGR in the zero-trust security market during
the forecast timeframe. Growing cyber threats in countries
including China, India, and Japan are supporting regional growth. For
instance, in May 2017, the entire
production networks of several Taiwan-based companies were disrupted owing to
a massive ransomware attack named WannaCry. The region has
witnessed an upsurge in cases of data breaches, causing a high
demand for secure solutions. The rapid digital transformation in
growing economies, including India
and China, has led to increased
vulnerability for attackers demanding a strong security posture.
Moreover, stringent regulations on data privacy enforced by
government bodies such as the PDPA of Singapore and the Privacy Act of Australia are compelling organizations to
adopt zero-trust frameworks, ensuring compliance.
Top Key Companies in Zero Trust Security
Market:
Major vendors in the global Zero Trust Security Market include
Palo Alto Networks(US), VMware(US), Zscaler(US), Akamai(US),
Microsoft(US), Cisco(US), IBM(US), Qnext(US), Citrix(US),
Checkpoint(Isreal), Trellix(US), Forcepoint(US), Crowdstrike(US),
Cloudflare(US), Fortinet(US), and Google(US). The study includes an
in-depth competitive analysis of the key Zero Trust Security Market
players, their company profiles, recent developments, and key
market strategies.
Browse Adjacent Market: Information Security Market
Research Reports & Consulting
Browse Other Reports:
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Forecast to 2029
Threat Hunting Market - Global Forecast to
2029
Digital Risk Protection Market- Global Forecast to
2028
Mobile Application Security Testing Market- Global
Forecast to 2028
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Companies and Zero Trust Security Industry
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