The Global Zero Trust Security Market was valued around at less than $19 billion in the year 2019, and is projected to reach $xx billion by the year 2027, growing at a CAGR of almost 16% during the forecast period.
The report covers the detailed analysis of the Global Zero Trust Security industry with the classifications of the market on the basis of Authentication Type, Deployment Mode, Solution Type, Industry Vertical, and region. Analysis of past market dynamics from 2016 to 2020 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player's contribution in it.
Zero Trust is a security approach, which revolves around a belief that organizations cannot automatically trust anything that is inside or outside its perimeters, and instead has to verify anything and everything trying to connect to its systems before gaining access. In simpler words, zero trust, just means assuming everything to be hostile.
Though this is obvious, but it is antithetical to the network security model. Since early times, almost all the companies have been surrounding their networks with perimeter security and using endpoint – based controls, relying on approved IP addresses, ports, and protocols to validate applications, data, and users, which are then trusted to communicate inside the network. On the contrary, as per the zero trust approach, all the traffic is to be treated as hostile.
Zero Trust is based on 4 basic principles –
i. Least Privileged Access – all entities continually re – authenticated and re – authorized based on context.
ii. Applications and network remain invisible to the open in internet.
iii. The internet is the new transport network via encrypted micro tunnels
iv. Micro segmentation - at the application level without network segmentation.
While today, when all the data and information is completely placed on servers, and with latest technologies up – front, the world has no perfect security and it is true that data breaches can never be totally eliminated; zero trust so far reduced the attack surface and limits the impact of severity of a cyber – attack.
The report has profiled around twenty – three key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimating the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in the North America region.
Global Zero Trust Security Market Dynamics
Rising Concerns for Data Security
The increasing activities of cyber threats are seen to be successful at penetrating and moving laterally within the security perimeter, during the recent times. Till today, there are many organizations that still rely solely on firewalls and VPNs, which are on – premises and lack the visibility, and agility to deliver timely solutions and end – to – end security coverage.
As per the records, there is also been a rise in multi – vector mega attacks. This all, in turn rise awareness for the data security by various organizations. And, this concern for safeguarding the consumers’ data is likely to drive the market for zero trust security solutions, during the forecast period.
Budgetary Constraints
It is true that the Zero Trust Security is set to opt - pace high popularity in the recent times, but integrating new solutions in the existing ones is quite of tedious task and also incurs very high costs. Therefore, integrating zero trust solutions, when the approach is still a new one in the technological market, it is still getting doubtful response from various small and medium sized organizations. Moreover, the expenditure restrictions of those enterprises are further responsible for hindering the growth of the zero trust security solutions market.
Scope of Global Zero Trust Security Market: Inquire before buying
The market is divided into 4 major segments and further into sub-segments to forecast the market size by value.
Global Zero Trust Security Market, by Authentication Type
• Single – Factor Authentication
• Multi – Factor Authentication
Global Zero Trust Security Market
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Global Zero Trust Security Market, by Deployment Model
• On Premises
• Cloud Based
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The Cloud Deployment Segment is expected to Witness Highest market share during the forecast period.
Though zero trust security solutions can be deployed on – premises and offered as cloud services; but the cloud based services of zero trust security are gaining more popularity. The cloud based services of zero trust security solutions are capable of providing the enterprises with good speed, scalability, and very high network security, while compared to the on – premises solutions, which just provide the enterprises with next generation firewalls, and intrusion prevention system, which the enterprises need to manage on their own.
Global Zero Trust Security Market, by Solution Type
• Network Security
• Data Security
• Endpoint Security
• Security Orchestration
• Automation & Response
• API Security
• Security Analytics
• Security Policy Management
• Others
Global Zero Trust Security Market1
Global Zero Trust Security Market, by Industry Vertical
• IT & ITES
• Financial & Insurance
• Retail & Trade
• Utilities
• Manufacturing
• Healthcare & Social Assistance
• Others
Global Zero Trust Security Market2
Financial & Insurance Sector is expected to Account for the Largest Market Share during the Forecast Period.
The financial industry is known to be frequently facing too many sophisticated and persistent security threats, which include malware, ransom ware, among many others. Therefore, it is observed that many organizations are quickly moving towards adopting the zero trust security solutions, in order to strengthen their security positions.
Global Zero Trust Security Market, by Region
• North America
• Europe
• Asia-Pacific
• Middle East& Africa
• South America
Global Zero Trust Security Market3
North America is expected to Account for the Largest Market Share during the Forecast Period.
It is expected that North America would dominate the market for Zero Trust Security over the forecast period, owing to the increased adoption of advanced technologies, like Artificial Intelligence, big data analytics, and Internet of Things (IoT), by various companies over the region. Furthermore, it is also noticed that various companies have raised their investments in real time analytics, which in turn could also help the region for driving the market growth, during the forecast period.
The objective of the report is to present a comprehensive analysis of the Global Zero Trust Security Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Zero Trust Security Market dynamics, structure by analyzing the market segments and projects the Global Zero Trust Security Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Zero Trust Security Market make the report investors’ guide.
Global Zero Trust Security Market Competitive Insights
Key players operating in Global Zero Trust Security Market
• Cisco Systems Inc.
• Akamai Technologies
• Palo Alto Networks
• Okta Inc.
• Check Point Software Technologies
• Trend Micro Inc.
• Symantech Corporation
• FireEye Inc.
• McAfee Corporation
• Forcepoint
• RSA Security
• Centrify
• Cyxtera Technologies
• Sophos Group PLC
• QNext Corporation
• Google LLC
• Microsoft Corporation
• VMWare Inc.
• Fortinet
• Cloudflare Inc.
• SonicWall
• Varonis Systems
• Pulse Secure
Global Zero Trust Security Market Recent Developments -:
• In April 2020, Google LLC, announced its first commercial product based on the zero trust approach – BeyondCorp Remote Access. This product was aimed to help the employees’ access internal web applications from most of the devices, and from any location, without any Virtual Private Network.
• In February 2020, Blackberry Ltd., announced its new platform – Spark, with a new Unified End point Security (UES) layer, which can work with Blackberry Unified Endpoint Management (UEM), in order to deliver zero trust security.
• In June 2019, Palo Alto Networks, a cyber – security leader, announced its acquisition of PureSec – leader in server less security. This acquisition was done for extending the company’s Prisma cloud security strategic, and was expected to help the company to strengthen their ability to secure server less applications and hence deliver greater protections across multiple cloud environments.
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