The new report by Expert Market Research titled, ‘Global Zero Trust Security Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global zero trust security market, assessing the market based on its segments like solution types, deployment types, authentication types, organisation sizes, verticals, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 22.99 Billion
- Forecast CAGR (2022-2027): 30%
- Forecast Market Size (2027): USD 59.89 Billion
The growth in the global market for zero trust security is being driven by the rising frequency of cyber-threats across various industry verticals. Owing to the robust digitisation, the vulnerability of data to online scams is a leading factor shaping the growth of the market. In addition, advancements in digital technologies, like artificial intelligence and machine learning, along with the growing usage of cloud computing are factors further enhancing the growth of the global market. The rising need for network compliance, data from unauthorised access, and to get a centralised view on cyber threats, are some factors enhancing the growth of the market. With the extensive use of work from home trend, bring-your-own-device (BYOD), and internet saturation across the globe, the demand for zero-trust security is growing.
Industry Definition and Major Segments
Zero trust is a practical and realistic approach to security that revolves around the concept of removing trust from the network architecture of a company. A sophisticated data security solution is based on the “never trust, always verify” principle. Rather than assuming that everything is safe and secure inside the firewall, the security solution assumes a breach and checks each request, presuming that every network has been infiltrated. This promotes the security of data. Hence, the rising demand for zero-network security solutions to boost reliability is fuelling the growth of the market.
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By solution type, the market is divided into:
- Network Security
- Data Security
- Endpoint Security
- API Security
- Cloud Security
On the basis of deployment type, the market includes:
On the basis of authentication type, the market can be classified into:
- Single-factor Authentication
- Multi-factor Authentication
Based on organisation size, the market is divided into:
- Large Enterprise
The market, based on industry vertical, can be distributed into:
- IT and Telecom
- Healthcare and Social Assistance
On the basis of region, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The increasing need for cloud-based zero trust security solutions among SMEs is anticipated to provide opportunities for a zero-trust security market during the forecast period. High demand for better visibility due to the rising IoT traffic among enterprises provides opportunities for the market growth of zero-trust security globally. Rising digitalisation, increasing awareness and investment in zero-trust security solutions, and implementation of favourable government regulations are additional factors defining the growth of the market. Further, the willingness to adopt zero-trust security by leading organisations to prevent losses pertaining to finance, property, and sensitive information, are further enhancing the growth of the market.
Key Market Players
The major players in the market are Cisco Systems, Inc., Akamai Technologies, IBM Corporation, Broadcom Inc., and McAfee Enterprise, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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