Zero Trust Security Market Size, Growth Opportunities, Outlook, Statistics, Market Scope, Revenue, Research, Trends Analysis & Global Industry Forecast Report 2024-2031
Zero Trust Security Market size reached USD 31.0 billion in 2023 and is estimated to reach USD 103.7 billion in 2031 and the market is estimated to grow at a very high CAGR of 16.3% from 2024-2031.
Zero Trust Security Market Overview
Zero trust is a tactical approach to security that centers on the model of reducing protection from an organization’s network structure. It can be directly operated to decrease security risk for verifying them one time is enough. The zero-trust model of security urges assumptions of trust at every access attempt.
Major Zero Trust Security Market Drivers
The zero-trust security structure establishes a digital dynamic identity based on four parameters: adaptive access control, continuous trust evolution, secure resource access, and identity-based. This architecture helps organizations in network security with risk management and automation. The strategic initiatives by the key organizations coupled with high demand from the IT sector have helped in changing the landscape of the overall market. For instance, in October 2018, Cisco acquired Duo Security, a solution supplier of integrated access security and multi-factor verification delivered through the cloud, which has helped in making a healthy competition in the market. In 2019, Perimeter 81 Ltd. officially announced the launch of Zero Trust application access. This solution effortlessly employs multiple security layers of user trust and device trust policy validation, which has helped the market in elevating the benchmarks for the technology in security. Furthermore, the extensive use of WFH trend, BYOD device, and internet saturation across the crooks of the globe, individuals are gradually persuaded towards the usage of digital technologies such as cloud solutions which has accelerated the need for zero-trust security measures for protection against cyber-attacks.
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Restraint in the Zero Trust Security Market
However, budgetary restraints among the emerging start-ups in the developing nations is likely to create a hinderance in the market over the forecast period.
Deployment – Segment Analysis
Based on the deployment, the cloud is witnessed to grow at a higher CAGR in the market over the forecast period. The cloud deployment mode of zero trust security solutions advances organizations with cloud-based solutions extending scalability, speed, and improved IT security. As more submissions get installed over the cloud, there will be a rising demand for cloud-based zero trust security among large enterprises and SMEs.
Organization Size – Segment Analysis
Based on the organization size, large enterprises is anticipated to grow at a higher CAGR in the market over the forecast period. Large enterprises are restructuring their security procedures and structural design to integrate zero trust to safeguard key assets from numerous cyber-attacks. Large organizations majorly adopt zero trust security to preserve endpoints, data centres, network, users, devices, and applications from illegal usage and ransomware attacks.
Regional – Segment Analysis
Based on the regional coverage, Europe is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to the rise in the percentage of GDPR related data breaches by 66% from 2018 May to 2019 May, according to a report published by Linklaters, a global law firm, which has propelled the use of zero-trust security. In addition, the strong presence of the key players in the region, like IBM, Cisco Systems Inc., Microsoft Corporation, has further led to the regional expansion growth.
Top Market Players
Various notable players operating in the market, include, Akamai Technologies, Palo Alto Networks, Okta Inc., Check Point Software Technologies, Trend Micro Inc., IBM Corporation, Symantec Corporation, FireEye Inc., McAfee Corporation, Forcepoint, among others.
Key Developments:
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- In 2019, Palo Alto Networks acquired PureSec to improve Prisma offering, which has may helped the company in expanding the product portfolio over the period. This offering has added the zero trust security more value as launched in the market.
Segments covered in the Report:
The Global Zero Trust Security Market has been segmented on the basis of Security Type, Deployment, Organization, Authentication and Application. Based on the Security Type, the market is segmented into Network Security, Data Security, Endpoint Security, Cloud Security, Others. Based on the Deployment, the market is segmented into On-premises, Cloud. Based on the Organization, the market is segmented into SMEs, Large Enterprise. Based on the Authentication, the market is segmented into Single-factor Authentication, Multi-factor Authentication. Based on the Application, the market is segmented into IT & Telecom, BFSI, Healthcare, Retail, Others.
Report Coverage |
Details |
Market Revenues (2023) |
USD 31.0 billion |
Market Base Year |
2023 |
Market Forecast Period |
2024-2031 |
Base Year & Forecast Units |
Revenues (USD Billion) |
Market Segment | By Security Type, By Deployment, By Organization Size, By Authentication, By Application, By Region |
Regional Coverage | Asia Pacific, Europe, North America, and RoW |
Companies Profiled | Akamai Technologies, Palo Alto Networks, Okta Inc., Check Point Software Technologies, Trend Micro Inc., IBM Corporation, Symantec Corporation, FireEye Inc., McAfee Corporation, Forcepoint, among others; a total of 10 companies covered. |
25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Zero Trust Security Market by Security Type
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- Network Security
- Data Security
- Endpoint Security
- Cloud Security
- Others
Global Zero Trust Security Market by Deployment
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- On-premises
- Cloud
Global Zero Trust Security Market by Organization Size
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- SMEs
- Large Enterprise
Global Zero Trust Security Market by Authentication
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- Single-factor Authentication
- Multi-factor Authentication
Global Zero Trust Security Market by Application
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- IT & Telecom
- BFSI
- Healthcare
- Retail
- Others
Global Zero Trust Security Market by Region
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-
North America Zero Trust Security Market (Option 1: As a part of the free 25% customization)
- By Security Type
- By Deployment
- By Organization Size
- By Authentication
- By Application
- US Market All-Up
- Canada Market All-Up
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Europe Zero Trust Security Market (Option 2: As a part of the free 25% customization)
- By Security Type
- By Deployment
- By Organization Size
- By Authentication
- By Application
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
-
Asia-Pacific Zero Trust Security Market (Option 3: As a part of the free 25% customization)
- By Security Type
- By Deployment
- By Organization Size
- By Authentication
- By Application
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
-
RoW Zero Trust Security Market (Option 4: As a part of the free 25% customization)
- By Security Type
- By Deployment
- By Organization Size
- By Authentication
- By Application
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
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Major Players Operating in the Zero Trust Security (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- Akamai Technologies
- Palo Alto Networks
- Okta Inc.
- Check Point Software Technologies
- Trend Micro Inc.
- IBM Corporation
- Symantec Corporation
- FireEye Inc.
- McAfee Corporation
- Forcepoint
Frequently Asked Question About This Report
Zero Trust Security Market [UP2141-001001]
The leading players over the market are Akamai Technologies, Palo Alto Networks, Okta Inc., Check Point Software Technologies, Trend Micro Inc., IBM Corporation, Symantec Corporation, FireEye Inc., McAfee Corporation, Forcepoint, among others.
Europe is witnessed to grow at a higher CAGR in the market over the forecast period due to the strong presence of the key players in the region, like IBM, Cisco Systems Inc., Microsoft Corporation, has further led to the regional expansion growth.
The growth rate of Zero Trust Security Market during forecast period is 16.3%.
The cloud is projected to grow at a higher CAGR in the market over the forecast period. The cloud deployment mode of zero trust security solutions advances organizations with cloud-based solutions extending scalability, speed, and improved IT security.
- Published Date: Nov- 2024
- Report Format: Excel/PPT
- Report Code: UP2141-001001
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Zero Trust Security Market Size, Growth Opportunities, Outlook, Statistics, Market Scope, Revenue, Research, Trends Analysis & Global Industry Forecast Report 2024-2031
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