Rise in Security Breaches in Most of the Countries is Fueling the Growth of Global Zero Trust Security Market

Businesses are increasingly adopting networking technologies and computerized systems which are more vulnerable to cyber-attacks and unauthorized access. Moreover, the remote working conditions due to covid - 19 pandemic has created an increased need for secured IT Infrastructure that would deploy multi - factor authentication to access confidential data. Zero Trust Security model will provide various advantages to organizations such as protection of sensitive data; lower breach risk and detection time; visibility into network traffic; and better control in cloud environments. Thus, these advantages are propelling the organizations to adopt zero trust security model in the recent times.

Additionally, the introduction of Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), blockchain, and Bring Your Own Device (BYOD) has increased the number of devices that use cloud for data transfer and storage, making them susceptible to security breach and cyber-attacks and creating new avenue of opportunities in the market globally.

According to Marketlook Consulting’ research report “Global Zero Trust Security Market Analysis, 2021”, the Global Zero Trust Security market is anticipated to grow at a CAGR 18% during 2022-29. The market would reach to USD 125.1 billion by 2029.

Based on Component Type, the solution segment dominated the Zero Trust Market Share in 2021. Zero Trust Security solutions provides persistent threat protection, cybersecurity risk management, compliance management, identity and access management and other security solutions. Furthermore, single factor authentication dominated the market share in 2021 over multi factor authentication. 

“Global Zero Trust Security Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Zero Trust Security framework providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.       

North America Dominated the Market

Based on Leading regions, North America dominated the global zero trust security market in 2021 and is projected to maintain its dominance during the forecasted period 2022-29 due to technological advancement, well equipped infrastructure and financials required to adopt zero trust security models. Additionally, owing to rise in competition between cloud - based service providers, key players are providing increased security of data and quick access for the clients which is projected to fuel the demand for Zero Trust Security frameworks in the forthcoming period as stated in Marketlook Consulting research report “Global Zero Trust Security Market Analysis, 2021”. 

According to Marketlook Consulting’, the key players with a considerable market share in the global zero trust security market are Cisco System Inc., IBM, Akamai Technologies Inc., Zscaler, VMware Inc., Microsoft Corporation, Cloudflare, Google, CyxTera Technologies, SonicWall, Palo Alto Networks, Check Point Software Technologies, Trend Micro Inc., Symantec Corp, FireEye Inc., and McAfree Corp.

Market Segmentation:

1. By Component Type (Solution, Services)
2. By Deployment Model (On premise, Cloud)
3. By Authentication (Single factor authentication, multi factor authentication)
4. By Enterprise Size (Small, Medium and Large Enterprises)
5. By Industry Vertical (Manufacturing, Healthcare, Retail, Energy & Utilities, BFSI, Government, IT & Telecom, Others)
6. By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)
7. By Company (Cisco System Inc., IBM, Akamai Technologies Inc., Zscaler, VMware Inc., Microsoft Corporation, Cloudflare, Google, CyxTera Technologies, SonicWall, Palo Alto Networks, Check Point Software Technologies, Trend Micro Inc., Symantec Corp, FireEye Inc., McAfee Corp)

Key questions answered in the study:

1. What are the current and future trends of the Zero Trust Security industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Zero Trust Security industry?
5. What is the customer orientation, purchase behavior, and expectations from the Zero Trust Security firms across various regions?