Global Zero Trust Security Market, By Authentication Type (Single-Factor Authentication, Multi-Factor Authentication), Solution Type (Data Security, Endpoint Security, API Security, Security Analytics, Security Policy Management), Deployment (On-Premises, Cloud), Organization Size (SME, Large Enterprise), Vertical (Banking, Financial Services and Insurance, IT and Telecom, Government and Defense, Energy and Utilities, Healthcare, Retail and E-commerce, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) - Industry Trends and Forecast to 2029.
Market Analysis and Insights of Zero Trust Security Market
Zero trust security market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to rise up to USD 115,976.9 million by 2029 and is growing at a CAGR of 15.20% in the above-mentioned forecast period.
Zero trust refers to a security model that is based on the principle of strict access controls and not trusting anyone by default, even those who are already inside the network's perimeter. The model is set up in such a way that every person and device attempting to access resources on a private network must pass strict identity verification, regardless of whether they are inside or outside the network perimeter. It is a comprehensive approach to network security that incorporates a variety of technologies.
The factors such as increased adoption of zero-trust security solutions, rising digitalization and rising number of cyber vulnerabilities due to the adoption of cloud-based services are expected to emerge as the significant factors accelerating the growth of zero trust security market. In addition to this, the factors such as the increasing awareness and investment in zero trust security solutions, increasing government regulations such as the upcoming CCPA regulations, increasing penetration of the IoT technologies and the companies choosing third-party vendors, increasing number of cyber risks, rising frequency of target-based cyberattacks and increasing regulations for data protection and information security will further aggravate the growth of the zero trust security market in the above-mentioned forecast period. However, the increasing budgetary constraints among small and emerging start-ups in developing economies results as a growth restraint for the market.
The increased demand for better visibility due to the rising IoT traffic among enterprises, rising need for cloud-based zero trust security solutions among SMEs and rising technological advancements and modernization in the techniques used are also anticipated to generate lucrative opportunities for the zero trust security market in the forecast period of 2022 to 2029. The rising design and implementation constraints to deploy zero trust security solutions will pose as a challenge for the zero trust security market.
This zero trust security market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on zero trust security market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Zero Trust Security Market Scope and Market Size
The zero trust security market is segmented on the basis of authentication type, solution type, deployment, organization size and vertical. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of authentication type, the zero trust security market is segmented into single-factor authentication and multi-factor authentication.
- On the basis of solution type, the zero trust security market is segmented into data security, endpoint security, API security, security analytics and security policy management.
- On the basis of deployment, the zero trust security market is segmented into on-premises and cloud.
- On the basis of organization size, the zero trust security market is segmented into SME and large enterprise.
The zero trust security market is also segmented on the basis of vertical into banking, financial services and insurance, IT and telecom, government and defense, energy and utilities, healthcare, retail and E-commerce and others.
Zero Trust Security Market Country Level Analysis
The zero trust security market is segmented on the basis of authentication type, solution type, deployment, organization size and vertical.
The countries covered in the zero trust security market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
North America dominates the zero trust security market during the forecast period owing to the high adoption of digital transformation with large volumes of critical data being generated, rising need for zero-trust security solutions, rising digitalization, increasing awareness and investment in zero trust security solutions and increasing government regulations such as the upcoming CCPA regulations in this region in the forecast period of 2022 to 2029. On the other hand, Asia-Pacific is expected to show a lucrative growth due to the high number of cyber risks due to the adoption of cloud-based services in this region.
The country section of the zero trust security market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Zero Trust Security Market Share Analysis
The zero trust security market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to zero trust security market.
Some of the major players operating in the zero trust security market report are Cisco, IBM, Akamai Technologies, Check Point Software Technologies Ltd, Pulse Secure, LLC, Palo Alto Networks, Cyxtera Technologies, Inc., Broadcom, Okta, Cloudflare, Inc, Forcepoint, Centrify Corporation., FireEye, Cyxtera Technologies, Inc., Illumio, Sophos Ltd and Microsoft among others.
Recent Developments
- In September 2020, Check Point acquired Odo Security's cloud-based technology for providing secure remote access. Check Point combined this technology with its Infinity architecture to provide the simplest and safest solution for businesses seeking secure remote access to any application.
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