Global Zero Trust Security Market Report, Industry Analysis and Forecast to 2029

The global zero trust security market was valued at USD 23.5 billion in 2021 and is projected to reach USD 125.1 billion in 2029, at a Compound Annual Growth Rate (CAGR) of 18.03% during the forecast period 2022-2029.

Zero Trust is a security framework requiring all users, whether in or outside the organization’s network, to be authenticated, authorized, and continuously validated for security configuration before being granted access to applications and data. Rooted in the principle of “never trust, always verify,” Zero Trust is designed to protect modern environments and enable digital transformation by using strong authentication methods, leveraging network segmentation, preventing lateral movement, providing Layer 7 threat prevention, and simplifying granular, “least access” policies.

There are different components mainly solution and services for zero trust security framework which can be either single - factor or multi - factor authentication. These frameworks are either deployed on premise or on a cloud across various industry verticals. This report emphasizes on the component, deployment model and application of zero trust security framework in different regions and countries over the forecast period.

Global Zero Trust Security Market Overview

The global zero trust security market demand is driven by the rise in security breaches targeting business applications, malware among enterprises and cloud based zero security solutions as a result of ongoing development in technology and internet connectivity over time which has created a new avenue of opportunities in the zero-trust security market. On the other hand, some small and medium sized enterprises may find it hard to adopt zero trust security model due to limited capital funding.

Zero Trust Security Market Dynamics

Zero trust interest and adoption have exploded in recent years, with a plethora of high-profile data breaches driving the need for better cybersecurity, and the global COVID-19 pandemic spurring unprecedented demand for secure remote access technologies. Zero trust adoption can offer multiple advantages over the traditional firewall approach such as protection of sensitive data; support for compliance auditing; lower breach risk and detection time; visibility into network traffic; and better control in cloud environments. Thus, these advantages provide lucrative opportunities to the market players in the upcoming years.

Malware is a common tool used by online criminals to seize control of machines and devices. Malwares such as Trojan horses and viruses now has a greater ability to control and harm entire IT network along with other factors such as end point device proliferation, rising adoption of cloud technology have increased the need of implementing zero trust security solutions.

Zero trust security is an approach requires routine maintenance tasks & checkups into your processes to ensure ongoing protection along with software that is flexible and can accommodate third-party solutions, regardless of vendor.

Zero Trust Security Market Report Outlook

The Zero Trust Security market report focuses on different aspects regarding components of Zero Trust Security model along with type of authentication across the different industry verticals. The research analyses the different components, and authentication types of the model in order to obtain a better understanding regarding the growth and trends of the market since 2019 which also facilitates the estimation of the upcoming growth of the market in the next 7 years.

Zero Trust Security Market Competitive Landscape

The report also holds competitive analysis which can be used to differentiate different types of models; technologies used in developing the models; prices; innovation in R&D; organic and inorganic growth strategies; financial analysis to determine the revenue generation and other key aspects of the finance; new partnership, joint ventures, collaborations, and acquisitions; market share of the top competitors in the market; and understand the growth strategies being undertaken by these major players to analyse the future market trends.

Industry players are providing improved application security products and services to enhance the client experience. In September 2020, StackHawk, a software as a service startup announced its general availability to any company that intends to deliver secure software. StackHawk solution empowers software engineers to find and fix application security bugs before they hit production. Additionally, in March 2021, Xage Security launched a cloud-delivered security solution, which will be available on the cloud as a zero-trust remote access solution. This solution launched for enhancing the zero-trust model will address any urgent OT environment cybersecurity challenges.

Other major players holding prominent share in the automotive lubricants market includes 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 among the others. There are several regional and local players in this market across the globe which are contributing towards the revenue growth of the market and thus expected to flourish with new launches and expansion in the upcoming years.

Zero Trust Security Market Regional Analysis

The market synopsis will also cover the regional dynamics and growth prospects which would include regions- North America, Asia Pacific, Europe, Latin America, Middle East and Africa. These regions will be analysed per countries on the basis of market drivers, restraints, opportunities, and trends to get a closer view of the market studied.

North America is a rapidly growing region in the global zero trust security industry, in terms of technological advancement and adoption. The region dominated the global market in 2020 and is expected to grow during the forecast period. It possesses well equipped infrastructure and financials required to adopt zero trust security models. Additionally, the U.S and Canadian government is expected to invest heavily in cybersecurity landscape in the upcoming years.

Europe accounted for the second largest market share. As the digitization of the region is growing, complex cyberattacks are becoming increasingly common. The Asia Pacific is the fastest growing region as the number of SMEs are increasing as compared to large enterprises. These SMEs are exponentially growing to cater to it's broad customer base. Security is more of a cost rather than a necessity for these SMEs as they have limited budget which makes them more vulnerable to cyberattacks. Scrutinizing these factors for the countries are expected to enhance the value chain of the Zero Trust Security market and aid us with better insights about the same.

Zero Trust Security Market In-depth Analysis Aspects

To mention certain other aspects which will include the Porter Five Forces, Pricing analysis, PESTEL Analysis, Export-Import data, and Industry Value Chain will also bind the analysis of the report.

Research Methodology

The study period of the market is considered to be 7 years (2022-2029) which will be analysed through the two major research techniques – Primary and Secondary Research methods. The primary research method includes the interviews of the key personnel in the industry considered as the industry experts, major distributors, suppliers, and consumer base sample survey to understand the direct perspective of the market. Additionally, these data are backed by the secondary research method which includes company overview through websites, annual reports, SEC filings, investor presentations, news, and databases. The growth trends are always measured on the basis of current and past scenarios considering any recent news which can drastically impact the growth rate of the market studied. Moreover, the consumption forecast depends on the company’s upcoming plans and revenue generation aspects.

Benefits of The Report

• The report is designed to understand the past, present and future market scenarios considering all the growth, restraining, and other factors influencing the market studied.
• The report is designed with the assistance of the industry experts for better understanding on the market studied
• The market is analysed with in-depth study of the company’s view on the market considering the present economic, political, social, geographical, and legal factors.
• To gain a clear insight for better future perspective of the market studied in 360-degree synopsis.
• Understand the competition in the market being a part of the market or a new entrant in the market.
• Analyse the different aspects in different geographies influencing the growth of the market through diverse consumer base.