According to a new report published by UnivDatos Markets Insights the Zero Trust Security Market is expected to grow at a CAGR of around 16% from 2021-2027. The analysis has been segmented into Security Type (Network Security, Data Security, Endpoint Security, Cloud Security, and Others); Authentication Type (Single-Factor Authentication and Multi-Factor Authentication); Deployment (On-premises and Cloud); Organization Size (Large Enterprises and SMEs); Industry (Information and Communication Technology, Banking and Financial Services, Retail, Healthcare, and Others) Region/Country.
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The zero trust security market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the zero trust security market. The zero trust security market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the zero trust security market at the global and regional levels.
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Market Overview
The global zero trust security market is rising on account of the continuously increasing target-based cyber-attacks, the need to reduce business and organizational risks and the digitalization of prominent industry verticals. Moreover, the advancing digital infrastructure in developing countries will also affect its market positively. “Zero Trust” is a security framework, it requires security configurations and status to be authenticated, approved, and continuously validated before all users, inside or outside the corporate network, are granted or retained access to applications and data. Moreover, the increasing losses due to cyber-attacks are one of the most prominent factors driving the adoption of zero trust security. For instance, according to Internet Crime Complaint Center (IC3), in 2018, the total financial loss due to cybercrime stood at around USD 2.7 Bn/year, which increased to more than USD 4 Bn/year in 2020.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The COVID-19 pandemic has positively affected the zero trust security market as there has been a shift in the attacking pattern of cyber criminals, individuals, and small businesses to major corporations, governments, and critical infrastructure. Moreover, the adoption of the telecommuting trend has increased web and cloud traffic. As a result, the need for zero trust security is increasing in all sectors.
The Global Zero Trust Security Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the security type, the market is divided into network security, data security, endpoint security, cloud security, and others. Among these, the endpoint security segment is expected to witness significant growth during the forecast period owing to the digital transformation of businesses, which has increased the usage of endpoint devices, such as mobiles, laptops, personal computers, and others. The endpoint acts as an entry point to the corporate network, creating an entry point that can be exploited by a malicious attacker. Hence, it is important to protect these endpoints to protect businesses from risky activities and malicious attacks
· Based on deployment, the market is classified into on-premises and cloud. Among these, the on-premises segment captured a commendable share of the global zero trust security market in 2020 owing to the high preference for this type of deployment to keep confidential data in-house rather than turning it over to a cloud provider. In addition, on-premises solutions enable hands-on ownership and control of security monitoring, providing a flexible and adaptable security program
Zero Trust Security Market Geographical Segmentation Includes:
· North America (US, Canada, Rest of North America)
· Europe (Germany, France, Spain, UK, Rest of Europe)
· Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market adoption of zero trust security, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Rest of World. North America is expected to grow at a steady growth rate owing to the presence of key market players in the region and the quick adoption of new technologies. In addition, the increasing focus on cyber security in the major economies in the region is further contributing to the growth of this market. For instance, in March 2021, the President of the U.S. made cybersecurity, a critical element of the Department of Homeland Security’s (DHS) mission, a top priority for the Biden-Harris Administration at all levels of government.
The major players targeting the market include
· Palo Alto Networks Inc.
· Cisco Systems Inc.
· International Business Machines Corporation
· Fortinet Inc.
· Citrix Systems Inc.
· Sophos Group plc
· Check Point Software Technologies Ltd.
· VMware Inc.
· Microsoft Corporation
· Akamai Technologies Inc.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the zero trust security market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the zero trust security market?
• Which factors are influencing the zero trust security market over the forecast period?
• What are the global challenges, threats, and risks in the zero trust security market?
• Which factors are propelling and restraining the zero trust security market?
• What are the demanding global regions of the zero trust security market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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