PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1362377
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1362377
The global zero trust security market size is projected to grow from USD 31.1 billion in 2023 to USD 67.9 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 16.9% during the forecast period. The increasing sophistication of cyber threats, rapid digital transformation, and stringent regulatory demands collectively fuel the adoption of zero-trust security. Based on continuous authentication and access verification, this approach mitigates risks in an interconnected IT landscape. Traditional perimeter-based security is proving inadequate in the face of evolving threats, making Zero Trust a vital safeguard for organizations in the modern era.
Scope of the Report | |
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Years Considered for the Study | 2017-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | USD |
Segments | Offering, Security Type, Authentication Type, Vertical, Region |
Regions covered | North America, Europe, APAC, LATAM, MEA |
"By vertical, the IT & ITeS segment accounts for a larger market share."
The IT & ITeS vertical holds the largest market share in the zero trust security market due to its unique combination of factors, as the vertical deals extensively with sensitive data, including customer financial information and intellectual property, making robust security measures imperative. Its intricate IT infrastructure, encompassing diverse devices and networks, demands a modern approach like zero trust security for adequate protection. Moreover, compliance requirements like GDPR and PCI DSS are stringent, and zero trust security offers a comprehensive framework for adherence. With a remote workforce becoming commonplace, zero trust's capability to verify user identity and authorization, irrespective of location, further solidifies its dominance in this market.
"By Authentication Type, the Multi-Factor Authentication segment accounts for a larger market share."
Multi-factor authentication holds the largest market share in the zero-trust security market due to its pivotal role in fortifying identity verification. It addresses critical security concerns by necessitating multiple forms of identity validation, enhancing user trustworthiness. This is especially crucial in the IT and ITeS sectors, where vast volumes of sensitive data are handled daily. MFA effectively curbs unauthorized access, thwarting potential breaches. Furthermore, its adaptability to various devices and environments makes it indispensable for safeguarding IT and ITeS infrastructures, driving its dominance in the zero-trust security landscape.
Breakdown of primaries
Major vendors in the global zero trust security market include Palo Alto Networks (US), VMware (US), Zscaler (US), Akamai (US), Microsoft (US), Cisco (US), IBM (US), Citrix (US), Check Point (US), Trellix (US), Forcepoint (US), CrowdStrike (US), Cloudflare (US), Fortinet (US), Google (US), Qnext (Canada), Illumio (US), ON2IT (Netherlands), Perimeter 81 (US), ThreatLocker (US), Twingate (US), Appgate (US), Zero Networks (Israel), Zentera (US), Xage (US), and Skyhigh Security (US).
The study includes an in-depth competitive analysis of the key players in the zero trust security market, their company profiles, recent developments, and key market strategies.
Research Coverage
The report segments the zero trust security market and forecasts its size by Offering (Solution and Services), Security Type (Network Security, Application Security, Cloud Security, Endpoint Security, and IoT Security), Authentication Type (Single-Factor Authentication and Multi-Factor Authentication), Vertical (Banking, Financial Services and Insurance (BFSI), Government and Defense, IT & ITeS, Healthcare, Retail and eCommerce, Energy and Utilities, other Verticals), and Region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America).
The study also includes an in-depth competitive analysis of the market's key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall zero trust security market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.