by on September 28, 2023
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The Zero Trust Security Market: An Overview

Zero trust security refers to an IT security model that requires strict identity verification for every user and device trying to access resources on a private network, regardless of whether they are sitting within or outside of the network perimeter. The zero trust approach operates on the principle of “never trust, always verify”.

According to The Market Research Future Zero Trust Security market industry is projected to grow from USD 13,121.0 Million in 2022 to USD 122.3 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 17.60% during the forecast period (2022 - 2030)

Key Market Segments

The zero trust security market is segmented on the basis of solution type, deployment type, organization size, vertical and region:

  • By Solution Type: Data Security, Endpoint Security, API Security, Security Analytics, Others
  • By Deployment Mode: On-Premises, Cloud
  • By Organization Size: SMEs, Large Enterprises
  • By Vertical: BFSI, Government & Defense, Healthcare, Retail & eCommerce, IT & Telecom, Others
  • By Region: North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Among solutions, data security accounts for the largest market share. And large enterprises are faster adopters of zero trust security.

Key Companies

Leading zero trust security vendors include:

  • Cisco Systems
  • Akamai Technologies
  • Palo Alto Networks
  • Symantec
  • Okta
  • Forcepoint
  • Centrify
  • Cyxtera Technologies
  • Illumio
  • Sophos
  • Google
  • VMware
  • Microsoft
  • Cloudflare
  • IBM

These companies are actively developing AI/ML-powered zero trust security offerings designed for the cloud era. Strategic partnerships and acquisitions are commonly leveraged to drive innovation.

Market Drivers

Factors driving the growth of the zero trust security market:

  • Increase in data breaches and cyberattacks globally
  • Growing need for identity and access management with remote working
  • Rise in BYOD and IoT devices expanding the attack surface
  • Digital transformation and cloud migration initiatives
  • Limitations of traditional VPNs and perimeter-based security
  • Regulatory compliance demands stronger data security
  • Advantages over legacy models like lower costs, easier scaling
  • Increased sophistication of hacking threats and ransomware
  • Convergence with SASE, XDR and UEM solutions

Regional Insights

North America leads the zero trust security market share while Asia Pacific is growing at the fastest CAGR. Driving APAC growth are rising cyber threats in Australia, India, China and Southeast Asia.

Browse In-depth Market Research Report (111 Pages, Charts, Tables, Figures) on Zero Trust Security Market -

https://www.marketresearchfuture.com/reports/zero-trust-security-market-8642

Industry Latest News

Notable developments in the zero trust security space include:

  • Increasing need for zero trust with hybrid multi-cloud environments
  • Vendors adding zero trust capabilities to existing solutions
  • Partnerships between cybersecurity and network/cloud providers
  • Development of zero trust frameworks and standards
  • Investments in training for in-house implementation and management
  • Rising vendor focus on MSSPs and managed zero trust security
  • Adoption across more verticals like energy, retail, transportation
  • Convergence with XDR, SOAR and next-gen firewall solutions
  • Incorporation of blockchain, automation and analytics

Driven by the digital-first economy and distributed workforces, zero trust security is becoming critical. As threats get more advanced, businesses are prioritizing Zero Trust to protect their ecosystem.

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