What is the global market size of Zero Trust Security Market?

Global Zero Trust Security Market size was valued at USD 20.6 billion in 2021 and is poised to grow from USD 21.2 billion in 2022 to USD 58.15 billion by 2030, growing at a CAGR of 15.5% during the forecast period (2023-2030).

Who are the key vendors in the Global Zero Trust Security Market?

The global zero trust security market is highly fragmented, with numerous players operating in the market. The market is characterized by the presence of both established players and new entrants, which are competing based on product innovation, quality, and pricing strategies. To gain a competitive advantage, players are focusing on partnerships, collaborations, and mergers and acquisitions. Vendors are also investing in R&D activities to develop advanced solutions and expand their customer base. The market is expected to become more consolidated in the future, with larger players acquiring smaller players to expand their market presence. 'Cisco Systems, Inc. (US)', 'Akamai Technologies, Inc. (US)', 'Palo Alto Networks, Inc. (US)', 'Symantec Corporation (US)', 'Microsoft Corporation (US)', 'Okta, Inc. (US)', 'Proofpoint, Inc. (US)', 'Centrify Corporation (US)', 'Fortinet, Inc. (US)', 'Google LLC (US)', 'VMware, Inc. (US)', 'Illumio, Inc. (US)', 'CyberArk Software Ltd. (Israel)', 'Broadcom Inc. (US)', 'Check Point Software Technologies Ltd. (Israel)', 'Pulse Secure, LLC (US)', 'Sophos Group plc (UK)', 'SailPoint Technologies Holdings, Inc. (US)', 'F5 Networks, Inc. (US)', 'Trend Micro, Inc. (Japan)'.

What is the key driver of Global Zero Trust Security Market?

One of the key drivers of the global zero trust security market is the increasing number of cyber threats and data breaches, which are resulting in significant financial losses for organizations. The proliferation of endpoint devices and the adoption of cloud technology have made it easier for cybercriminals to access sensitive information, leading to a growing need for robust security measures. The implementation of zero trust security solutions can help organizations secure their networks and data, by ensuring that only authenticated and authorized users are granted access to sensitive information.

Which region accounted for the largest share in Global Zero Trust Security Market?

North America dominated the zero trust security market, owing to the presence of major market players and a high level of awareness of the need for robust security measures. The United States is the largest contributor to the region's growth, with a strong focus on developing innovative solutions and high investments in cybersecurity measures. The US government's implementation of the Zero Trust Cybersecurity model is also expected to boost the demand for zero trust security solutions in the region.

Zero Trust Security Market Size, Share, Growth Analysis, By Authentication Type(Multi-Factor Authentication, and Single-Factor Authentication), By Application(Access Control (Inclusive of Data Access Control), API Security, User Behaviour Analytics (UBA), Security Analytics), By Vertical(BFSI, Healthcare, Government and Defence, Retail and ECommerce), By Security Type(Network Security, Application Security, Cloud Security, Data Security), By Offering(Solution (Identity and Access management, Micro Segmentation, Zero Trust Network Access, Zero Trust Data Access (ZTDA)), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45D2059 | Region: Global | Published Date: August, 2024
Pages: 197 | Tables: 120 | Figures: 77

Zero Trust Security Market Regional Insights

North America is the dominating region in the global market revenue and is expected to register the highest CAGR from 2024 to 2031. The regional market is expected to be driven by government and state authorities. Furthermore, the growing adoption of Internet of Things (IoT), AI and digital technologies by SMEs and large enterprises and increasing stringent standards and regulations to ensure data privacy and security contribute to the growth of the regional market.

Asia Pacific is expected to exhibit the fastest CAGR from 2024 to 2031. The need to control access to secure networks from inappropriate data breaches in the public, financial, health, and e-commerce industry is at risk due to numerous data breach issues and consequences associated with it prompting regional market growth. The demand for zero trust services has increased.

Zero Trust Security Market Report Snapshots

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Zero Trust Security Market size was valued at USD 25.5 Billion in 2022 and is poised to grow from USD 31.6 Billion in 2023 to USD 99.7 Billion by 2031, growing at a CAGR of 15.5% in the forecast period (2024-2031).

The global zero trust security market Growth is highly fragmented, with numerous players operating in the market. Key firms operating in the zero trust security market is expanding their product offerings, and employing many inorganic growth strategies such as mergers, partnerships, acquisitions etc. For example, in May 2021 Cisco Systems, Inc. acquired Slido, a polling and Q&A platform for virtual, live, hybrid events and meetings. This acquisition will provide significant features and robust capabilities for the Webex experience. 'Cisco Systems, Inc. (US) ', 'Akamai Technologies, Inc. (US) ', 'Palo Alto Networks, Inc. (US) ', 'Microsoft Corporation (US) ', 'Okta, Inc. (US) ', 'Fortinet, Inc. (US) ', 'Google LLC (US) ', 'Illumio, Inc. (US) ', 'CyberArk Software Ltd. (Israel) ', 'Broadcom Inc. (US) ', 'Check Point Software Technologies Ltd. (Israel) ', 'F5 Networks, Inc. (US) ', 'Trend Micro, Inc. (Japan) ', 'Zscaler, Inc. (US) ', 'Cloudflare, Inc. (US) ', 'Tenable, Inc. (US) ', 'One Identity LLC (US) ', 'Ping Identity Corporation (US) ', 'CrowdStrike Holdings, Inc. (US) ', 'Netskope, Inc. (US) ', 'Radware Ltd. (Israel) ', 'Thales Group (France)'

The increasing sophistication of cyberattacks is increasingly leading organizations to adopt security measures without any guarantees. Traditional perimeter-based security mechanisms are insufficient to protect against advanced threats, making mistrust the primary means of protecting critical data and systems.

Increasing Adoption of Cloud-based Solutions: One of the key market trends in the global zero trust security market is the increasing adoption of cloud-based solutions. Cloud-based zero trust security solutions offer numerous benefits, including reduced costs, scalability, and flexibility, compared to on-premises solutions. With the growing trend of remote work and the increasing use of cloud technology, organizations are shifting towards cloud-based zero trust security solutions to ensure secure access to their networks and data. In addition, the integration of artificial intelligence and machine learning technologies in zero trust security solutions is also emerging as a key trend, enabling organizations to automate security processes and improve threat detection capabilities.

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Zero Trust Security Market Regional Insights

Zero Trust Security Market Report Snapshots

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FAQs

What is the global market size of Zero Trust Security Market?

Who are the key vendors in the Zero Trust Security Market?

What is the key driver of Zero Trust Security Market?

What is the key market trend for Zero Trust Security Market?

Which region accounted for the largest share in Zero Trust Security Market?

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