The global zero trust security market is expected to grow at an impressive CAGR in the forecast period, 2023-2027. Increasing concerns about data privacy and security, digitalization of prominent industry verticals, and untapped growth potential in developing countries are the primary factors influencing the demand for the global zero trust security market in the next five years.
Zero trust security is a kind of cyber-security solution in which every user must provide authentication details before entering the secure network. These solutions are reliable, cost-effective, and are easy to use. Enterprises are moving from an on-premises model to hybrid and cloud environments. Organizations need to adopt advanced security solutions that are flexible to adapt according to the complexity of modern systems, which in turn paves the way for the global zero trust security market growth.
The Rise in Adoption of IoT Devices Drives the Market Growth
The expected roll-out of 5G technology and the growing internet penetration in developing countries accelerate the demand for smart devices among consumers. Enterprises belonging to different industry verticals are adopting IoT devices to improve data connectivity and increasing stringency in standards and policies to maintain data security and privacy is bolstering the adoption of advanced data security solutions. IoT devices establish a real-time connection between the users, and the growing adoption of IoT devices is increasing the chances of cyberattacks on the devices. Zero trust security solution helps organizations deal with critical information and personal information by increasing the visibility of users accessing the network from different locations, times, and various applications.
With the growing amount of data generated, the need to secure the data to prevent unauthorized access influences the demand for advanced security solutions. Ongoing digital transformation and increased adoption of cloud-based infrastructure by enterprises to optimize and streamline business operations are expected to be significant drivers for the global zero trust security market in the forecast period.
Growing Frequency of Cyber-Attacks is Boosting the Market Demand
The adoption of digital platforms by major industry verticals and the growing number of internet users generates large volumes of confidential data. Access to this information may result in substantial financial losses. The ever-increasing cases of target cyber-attacks in which the attacker's attack device, network, endpoint, data, and other IT infrastructure steal the critical information raise security concerns. Organizations prefer to invest in advanced security solutions that would prevent the loss of intellectual property, critical and personal information, and financial losses. The growing focus on safeguarding the IT infrastructure of organizations is expected to fuel the demand for the global zero trust security market in the forecast period.
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Market Segmentation
The global zero trust security market is segmented based on solution type, authentication type, organization size, deployment type, vertical, company, and regional distribution. Based on the solution type, the market is divided into network security, data security, end point security, security orchestration automation & response, API security, and others. Based on the authentication type, the market is divided into single-factor authentication and multi-factor authentication. Based on the organization size, the market is divided into large enterprises and small & medium enterprises. Based on the deployment mode, the market is divided into cloud and on-premises. Based on the vertical, the market is divided into IT and ITES, BFSI, healthcare & social assistance, retail trade, utilities, and others. The market analysis also studies the regional segmentation based on the North American region, Asia-Pacific region, European region, South American region, and the Middle East & African region.
Market Players
Cisco Systems Inc., Akamai Technologies, Check Point Software Technologies Ltd., Palo Alto Networks, McAfee Corporation, Cloudflare Inc., Trend Micro, Inc., Symantec Corporation, Inc., IBM Corporation, Microsoft Corporation, Google Inc. are the major market players leading the growth of global zero trust security market.
| Attribute | Details |
| Base Year | 2021 |
| Historic Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | Solution Type Authentication Type Organization Size Deployment Type Vertical |
| Regional scope | North America; Asia Pacific; Europe; South America; Middle East & Africa |
| Country scope | United States; Canada; Mexico; China; India; Japan; South Korea; Australia; Singapore; Malaysia; Germany; United Kingdom; France; Italy; Spain; Poland; Denmark; Brazil; Argentina; Colombia; Poland; Denmark; Saudi Arabia; South Africa; UAE; Iraq; Turkey |
| Key companies profiled | Cisco Systems Inc., Akamai Technologies, Check Point Software Technologies Ltd., Palo Alto Networks, McAfee Corporation, Cloudflare Inc., Trend Micro, Inc., Symantec Corporation, Inc., IBM Corporation, Microsoft Corporation, Google Inc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
