Global Zero Trust Security market size 2024, Forecast To 2033
4 Mar, 2024
The zero trust security market size has grown rapidly in recent years. It will grow from $33.18 billion in 2023 to$39.26 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to cyber threat landscape, legacy security challenges, digital transformation, remote workforce trend, data privacy concerns. The zero trust security market size is expected to see rapid growth in the next few years. It will grow to $80.58 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to threat intelligence integration, user-centric security approach, data volume growth, business continuity focus, evolving threat landscape. Major trends in the forecast period include adaptive security posture, remote workforce security, shift to cloud and edge computing, industry collaboration and education, endpoint security enhancement.
Global Zero Trust Security Market Key Driver
The zero-trust security market is poised for growth owing to the escalating rate of data breaches and cyber threats worldwide. Data breaches involve unauthorized access to computer systems, compromising sensitive information. To address this challenge, organizations are increasingly adopting zero-trust security solutions, which eliminate the assumption of trust within network access and mandate additional user verification. IBM's Cost of a Data Breach Report 2021 reveals a significant increase in breach costs, surging from $3.86 million in 2020 to $4.24 million in 2021. Additionally, the UK government's 2022 cyber security breaches survey indicates that 39% of UK businesses experienced cyber-attacks in 2021, with phishing attempts constituting 83% of the threats. Therefore, the surge in data breaches and cyber threats is expected to fuel the growth of the zero-trust security market, reflecting anticipated market sizes for 2023, 2024, and 2028.
Get A Free Sample Of The Global Zero Trust Security Market ReportGlobal Zero Trust Security Market Segments
The global zero trust security market covered in this report is segmented –
1) By Solution Type: Data Security, Network Security, API Security, Security Analytics, Endpoint Security, Security Orchestration Automation And Response, Security Policy Management , Other Solutions
2) By Authentication: Single Factor Authentication, Multi Factor Authentication
3) By Deployement: On Premises, Cloud
4) By Organization Size: SMEs, Large Enterprise
5) By Application Area: IT and Telecom, BFSI, Healthcare, Retail, Other Application Area
By Geography: The regions covered in the zero trust security market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacific was the largest region in the zero trust security market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the zero trust security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Zero Trust Security Industry Players
Cisco Systems Inc., Palo Alto Networks, Check Point Software Technologies, Trend Micro Inc., International Business Machines Corporation, Symantec Corporation, FireEye Inc., McAfee Corporation, Forcepoint, Microsoft Corporation, Vmware Inc., Fortinet, Okta Inc., Centrify Corporation, Cyxtera Technologies Inc., Google Inc., Sophos Group PLC., Cloudflare Inc., SonicWall, Pulse Secure LLC, Perimeter 81, CrowdStrike, Akamai, Rubrik, Cohesity, GoodAccess, Zscaler Internet Access, Forescout Continuum, Delinea Secret Server, HPE Security
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Zero Trust Security Market Overview
Zero-trust security refers to a type of security that focuses on a process in which no one is trusted by default, from within or outside the network, and secures an organization by eradicating implicit trust and verifying every stage of digital interaction. Its primary goal is to provide a more secure environment with safeguards against unauthorized access.
Zero Trust Security Global Market Report 2023 provides data on the global zero trust security market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The zero trust security market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.