PUBLISHER: Roots Analysis | PRODUCT CODE: 1803903
PUBLISHER: Roots Analysis | PRODUCT CODE: 1803903
As per Roots Analysis, the global zero trust security market size is estimated to grow from USD 35.24 billion in the current year to USD 190.27 billion by 2035, at a CAGR of 16.57% during the forecast period, till 2035.
The opportunity for zero trust security market has been distributed across the following segments:
Type of Authentication
Type of Solution
Type of Deployment
Type of Offering
Type of Service
Type of Security Feature
Type of End-User
Company Size
Geographical Regions
Zero Trust Security Market: Growth and Trends
Zero trust constitutes a cybersecurity framework rooted in the notion of never trusting and always verifying. It is often referred to as zero trust architecture or parameter less security, describing an approach to strategizing, designing, and implementing IT systems.
Within the zero trust security model, organizations refrain from automatically trusting users or devices, operating under the premise that threats may arise from both outside and within the network. As a result, it continuously assesses the trustworthiness of users and devices, regardless of their location or whether they fall inside or outside the corporate perimeter. Additionally, in today's digital age, the increasing frequency of cybersecurity threats highlights the importance of zero trust technology in reducing the risk of data breaches and protecting sensitive information within today's complex and evolving IT landscapes. This technology functions through ongoing monitoring and analysis to identify any unusual activity, employing identity verification, device verification, and micro-segmentation.
With the growing demand for zero trust solutions, stakeholders are utilizing advanced technology to develop comprehensive zero trust platforms that incorporate various security elements, including identity management, device verification, access control, and continuous monitoring. These platforms streamline the implementation of zero trust by providing a cohesive solution. Owing to the rising demand for enhanced cybersecurity measures, increasing complexity of IT environments, and the expanding use of IoT technology, the zero trust security market is expected to experience significant growth during the forecast period.
Zero Trust Security Market: Key Segments
Based on type of authentication, the global zero trust security market is segmented into single-factor authentication and multi-factor authentication. According to our estimates, currently, the multi-factor authentication segment captures the majority share of the market. This can be attributed to the advanced capabilities of zero trust security solutions that enhance security, as multi-factor authentication necessitates two or more verification methods.
However, the multi-factor authentication segment is expected to grow at a higher CAGR during the forecast period, due to its advanced security, adherence to compliance, and alignment with contemporary cybersecurity demands.
Based on type of solution, the zero trust security market is segmented into network security, data security, endpoint security, API security, cloud security, and others. According to our estimates, currently, the network security segment captures the majority of the market. Additionally, this segment is expected to grow at a higher CAGR during the forecast period. This growth can be attributed to the key features of zero trust security, such as micro-segmentation, network access control, and ongoing monitoring. These features are integral to zero trust security policies, which enhance the demand for network security solutions.
However, the data security segment is expected to grow at a higher CAGR during the forecast period, due to the increasing frequency of data breaches and cyber-attacks.
Based on type of deployment, the zero trust security market is segmented into cloud-based and on-premises. According to our estimates, currently, the cloud-based segment captures the majority share of the market, due to the scalability and adaptability of cloud solutions, enabling organizations to modify resources as needed. Further, the capability of these solutions to integrate seamlessly with other cloud services and applications ensures centralized security management across hybrid and multi-cloud environments, driving the growth of this segment.
However, the on-premises segment is expected to grow at a higher CAGR during the forecast period. This can be attributed to the regulatory requirements, legacy systems, or the need for strict control over sensitive data in industries such as finance and healthcare, where on-premises security infrastructure is essential.
Based on type of offering, the zero trust security market is segmented into integrated platforms, standalone software, and services. According to our estimates, currently, the integrated platform captures the majority share of the market. This is due to the increasing demand for comprehensive solutions that offer a variety of security features, such as next-generation firewalls, identity and access management, and data loss prevention, all through a single platform.
However, the service segment is expected to grow at a higher CAGR during the forecast period, driven by the escalating need for expertise and managed security solutions in the coming years.
Based on type of service, the zero trust security market is segmented into consulting and advisory services, implementation and integration services, managed services, training and support services. According to our estimates, currently, the implementation and integration segment captures the majority share of the market.
This is due to the benefits of this service in establishing identity and access management systems, network segmentation, and continuous monitoring tools ensure that zero trust security principles are effectively implemented. Given the increasing need for implementation and integration services, this segment is projected to experience significant growth during the forecast period.
Based on type of security feature, the zero trust security market is segmented into micro-segmentation, privileged access management (PAM), network segmentation, endpoint detection and response (EDR), cloud security posture management (CSPM), security orchestration, automation, and response (SOAR). According to our estimates, currently, the privileged access management (PAM) captures the majority share of the market. This is due to their vital role in safeguarding sensitive data and minimizing insider threats by overseeing and controlling privileged accounts.
However, the endpoint detection and response (EDR) segment is expected to grow at a higher CAGR during the forecast period. This can be attributed to the escalating complexity and sophistication of cyber threats, which require advanced EDR solutions for real-time detection, investigation, and response to malicious activities.
Based on type of end user, the zero trust security market is segmented into IT and telecoms, BFSI, manufacturing, healthcare, energy and power, retail, government, and others. According to our estimates, currently, the BFSI segment captures the majority share of the market. This is due to its heightened vulnerability to cybersecurity threats and stringent regulatory requirements. Additionally, the vast amount of sensitive information, from personal identification to financial transactions within the BFSI sector, makes it a prime target for cyberattacks.
However, the IT and telecom sector is expected to grow at a higher CAGR during the forecast period, as it emerges as a key industry for zero trust security solutions, with tech companies and telecom providers increasingly implementing these solutions to safeguard against industrial espionage and cyber threats aimed at their infrastructure.
Based on company size, the zero trust security market is segmented into small and medium-sized enterprises (SMEs) and large enterprises. According to our estimates, currently, the large enterprise segment captures the majority share of the market. This is due to their considerable investments in cutting-edge security technologies and their efforts in establishing industry standards for strong cybersecurity practices.
Additionally, their ample resources facilitate the implementation of advanced zero trust security solutions, which not only improve their own security measures but also encourage smaller businesses and security providers to embrace similar approaches.
Based on geographical regions, the zero trust security market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, North America captures the majority share of the market, due to the increased awareness of cybersecurity threats and the early adoption of innovative technologies in the region.
Meanwhile, Asia is projected to experience the highest compound annual growth rate during the forecast period, fueled by rapid digital transformation. In addition, a rise in cybersecurity incidents, increased government initiatives that emphasize zero trust security frameworks for safeguarding sensitive data, and significant investments in advanced security solutions are further driving the market in this region.
Zero Trust Security Market: Research Coverage
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