Zero Trust Security Market Highlights
According to Market Research Future, the zero trust security market has been segmented based on solution, organization size, authentication type, deployment, vertical, and region/country.
Zero trust access security gives access only to the network and cloud resources to authorized users. The access provided is limited to the accomplishment of the tasks. It strictly enforces data security and threat prevention policies. The zero-trust security solutions work with the assumption that the cyber attackers are present both inside and outside of the network, and thus, the users or machines should not be automatically trusted.
By authentication type, the global zero-trust security market has been divided into single-factor authentication and multi-factor authentication. The multi-factor authentication segment is expected to have a larger market share during the forecast period as multi-factor authentication (MFA) is one of the core features of zero-trust security. In this process, a user is authenticated with more than one way; such as only entering a password is not enough to gain access. In addition to entering a password, the users are required to enter a code that has been sent to another device, such as an SMS on mobile phone or email verification. Thus, users are verified in two ways.
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By solution type, the global zero trust security market has been divided into data security, network security, API security, security analytics, endpoint security, security orchestration automation and response (SOAR), security policy management and others. The network security segment is expected to have the largest market size during the forecast period, as it is the most important and core feature of the zero-trust security model.
Based on organization size, the global zero trust security market has been categorized as large enterprise and small- and medium-sized enterprises (SMEs). The large enterprise segment is expected to account for the larger market share during the review period. These enterprises adopt the solutions to protect their network, end-points, data centers, devices, users, and applications from unauthorized usage and malicious ransomware attacks.
Based on deployment, the global zero-trust security market has been divided into on-premise and cloud. The cloud segment is expected to grow with a faster CAGR during the review period as these offer the benefits of cloud technology such as speed, scalability, and enhanced IT security which attract SMEs as well as large enterprises.
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On the basis of vertical, the global zero trust security market has been divided banking, financial services, and insurance, IT telecom, government defense, energy power, healthcare, retail e-commerce, and others. The BFSI vertical is expected to register the highest CAGR during the forecast period due to advanced features such as ‘least-privilege access’ provided by zero trust security and also these firms are investing in cyber solutions to keep their network secure.
By region, the global zero trust security market has been segmented into North America, Europe, Asia-Pacific, the Middle East Africa, and South America.
Regional Analysis
By region, the global zero trust security market has been segmented into North America, Europe, Asia-Pacific, the Middle East Africa, and South America. North America is expected to be the largest market due to the presence of a large number of zero-trust security vendors in the region and the need of large enterprises as well as SMEs for a solution that offers an effective authentication process.
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Key Players
The Key Players in the Global Zero Trust Security Market are Cyxtera Technologies (US), Illumio (US), Symantec Corporation (US), OKTa (US), Cloudflare (US), Check Point Software Technologies (Israel), Pulse Secure (US), Palo Alto Networks, Inc. (US), Cisco Systems, Inc (US), IBM Corporation (US), Akamai Technologies (US), Google (US), Forcepoint (US), Centrify (US) and Sophos Group PLC (UK).
Global Zero Trust Security MarketThe GMI Research forecasts that the Zero Trust Security Market is witnessing an upsurge in demand over the forecast period.
This is mainly due to the increasing frequency of target-based cyberattacks and rising norms for data protection and information security.Introduction of the Zero Trust Security MarketZero trust is a network security philosophy stating that the network should be trusted unless their identification has been thoroughly checked.
The system operates on the assumption that threats both outside and inside of the network are an omnipresent factor.Key Players of the Global Zero Trust Security Market:Akamai TechnologiesOkta Inc.Trend Micro Inc.Symantec CorporationMcAfee CorporationForcepointPalo Alto NetworksCheck Point Software TechnologiesIBM CorporationFireEye Inc.Zero Trust Security Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)The favorable strategic initiatives by major organizations and the extensive trend of work from home, BYOD devices, and internet saturation is promoting individuals towards the implementation of digital technologies like cloud solutions are the crucial drivers contributing to the growth of the zero-trust security market.
The robust demand from the IT sector is strengthening the market size.
However, budgetary restraints across the transpiring start-ups in emerging nations will hamper the zero-trust security market share.Deployment Segment DriversBased on the deployment, the cloud is expected to witness faster growth in the near future.
The mode advances organizations with cloud-based solutions extending measurability, speed, and better IT security.
Research Nester published a report titled “Zero Trust Security Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of theglobalzero trust security market in terms of market segmentation by solution type, deployment, enterprise size, and by region.Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.The global zero trust security market is estimated to occupy a sizeable revenue and grow at a CAGR of ~18% during the forecast period, i.e., 2022 – 2030, owing to the rising number of target-based cybersecurity attacks, strict government protocols about information security and increasing digitization across developing nations.
Based on solution type, the data security segment is anticipated to grab the largest market share during the forecast period on the back of increasing amount of data among organizations and the growing need to ensure its safety.
Additionally, by deployment, the cloud segment is projected to observe the highest growth in the future ascribing to the high speed, scalability and IT security offered by cloud services.Download Sample of This Strategic Report: https://www.researchnester.com/sample-request-3206Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa.
Moreover, the market in Asia Pacific is assessed to grow by the highest rate in the coming years owing to the high adoption of digital banking services and increasing internet usage in the region.Increasing Number of Target-Based Cyberattacks to Expand MarketThe world has observed a surge in the number of attacks that target networks, endpoints, cloud-based applications, on-premise devices and several other IT infrastructures to steal critical information worth considerable amount of money.
This in turn is anticipated to be a crucial factor driving the market growth in the near future.“The Final Report will cover the impact analysis of COVID-19 on this industry.”Download/Request Sample Copy of Strategic Report: https://www.researchnester.com/sample-request-3206However, absence of appropriate budget in startups to implement zero trust security services is expected to operate as key restraint to the growth of the global zero trust security market over the forecast period.This report also provides the existing competitive scenario of some of the key players of the global zero trust security market which includes company profiling of Cisco Systems Inc., Palo Alto Networks, Trend Micro Inc., Akamai Technologies, IBM Corporation, Symantec Corporation, Microsoft Corporation, McAfee Corporation, RSA Security, Okta Inc., and others.
On the whole, the report depicts detailed overview of the global zero trust security market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
