Market Highlights
As per the research by Market Research Future Reports (MRFR), the global zero trust security market is anticipated to record a CAGR of 15.4% and value USD 32.15 billion by the end of 2025. The increasing target-based cyber-attacks is the most significant factor driving the global zero trust security market 2020. Moreover, there has been an increasing initiative by governments that are augmenting the global zero-trust security market. Moreover, it integrates various technologies. It assures reliability, simple, and cost-effectiveness, which is estimated to be a significant factor in driving the global market. Besides, there has been development in machine learning, which further makes the security sector stronger. In addition, the established and the upcoming entities are inclining towards the cloud-based technology, which is likely to augment the market. The competitors are adopting innovative methods to retain their position in the market. However, the inefficient budgets allotted by the SMEs can act as a restricting factor in the market expansion.
Most businesses use conventional security infrastructure, which works using the now outdated idea that something that is stored within their own network can be considered to be trusted. Security threats will emerge internally in modern times, and with far more intellect than it has ever been. New methods of protection need to be checked to avoid the proliferation of vulnerabilities within organisations. Standard security techniques, as described above, only prevent risks from being targeted from outside the organisation.
A number of large companies are recognizing the opportunity and advantage of using a Zero Trust model for business security systems. The key reason why zero-trust protection approaches are implemented highly is the high incidence of goal-based cyberattacks. Other factors influencing the demand are the increasing number of cyber threats due to the proliferation of cloud-based solutions and increased digitalization. In addition, SMEs’ budget limitations are anticipated to be a restraint to business growth in the global zero trust security market.
Segmentation:
The worldwide zero trust security market size can be segmented on the grounds of solution type, deployment, authentication type, organization size, and region.
Based on solution type, the global zero trust security market can be classified into security policy management, network security, data security, API security, endpoint security, security analytics, security orchestration automation and response (SOAR), and others.
Based on deployment, the worldwide zero trust security market can be classified into on-premise and cloud.
Based on the authentication type, the worldwide zero trust security market can be classified into multi-factor authentication and single-factor authentication.
Based on organization size, the worldwide zero trust security market can be classified into small- and medium-sized enterprises (SME) and large enterprises.
Based on vertical, the worldwide zero trust security market can be classified into IT & telecom, banking, financial services, and insurance, government & defense, healthcare, retail & e-commerce, energy & power, and others.
On the basis of region, the worldwide zero trust security market can be classified into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Regional Overview
It is projected that the worldwide zero-trust Security Market will record a 15.4 per cent CAGR throughout the forecast period. The worldwide zero trust security market geographic study is conducted for Europe, North America, Asia-Pacific, Middle East & Africa, and markets of South America. As the most technologically developed country, North America holds the largest share in the market, and the digitalization rate in the regional market is very high. The US dominates the North American market, because it has a strong digital transition penetration with large amounts of sensitive data being produced, and the country’s top need for zero-trust security solutions. Due to the large number of cyber attacks attributable to the adoption of cloud-based services, Asia-Pacific is projected to become the rapidly growing region in the worldwide zero trust security market throughout the forecast period.
Industry News
Google has made BeyondCorp Remote Access accessible, introducing the first consumer product focused on Google’s revolutionary zero-trust solution to cyber security, which has already used for a decade. The cloud-based software allows workers to access web apps from most devices anywhere, without a conventional private virtual remote access network.
