Zero Trust Security Market Size, Industry Analysis Report, Regional Outlook, Industrial Analysis Report, Growth Potential, 2021 – 2027
Report ID: GMI4671
Zero Trust Security Market size is expected to grow significantly during the forecast period. Zero trust security is an organizational approach toward data security. The major factors in the market growth are data protection, reduced time in breach detection, and reduction in the complexity of security stack. It also solves the problem of shortage of security skills as cyber threats are evolving daily.
The framework of zero security also elevates the end-user experience. Frequent use of multiple passwords set by a particular user is complex to remember and manage. Zero security framework saves all the passwords for a particular user on the cloud and the user can access those passwords after verification from anywhere.
On the basis of component, zero trust security market is segmented into solutions and services. Solutions are further segmented into network security, data security, endpoint security, zero trust security, API security, and security analytics. Services are further segmented into consulting, maintenance, and system integration. Zero trust framework is helping organizations in achieving data security, which is one of the major factors that affect the digital market. For instance, zero trust security enables multi-factor authentication along with early identification of security breaches. Additionally, it minimizes the risk associated with online availability of data.
On the basis of deployment, zero trust security is segmented into on-premise and cloud. The on-premise deployment model elevates the level of data security and gives more control to enterprises. Cloud-based models help enterprises by offering higher speed, scalability, and a third-party data security. Due to the increasing number of deployment of applications on the cloud, there is an increasing demand for cloud-enabled zero trust data security solutions among enterprises.
On the basis of organization size, the zero trust security market is segmented into large enterprises and SMEs. In order to protect assets from anonymous cyber-attacks, large enterprises are constantly reviewing their security policies and network architecture. Large enterprises are adopting zero trust framework in order to safeguard their data centers, network, devices, and applications. The solutions offered by zero trust framework help large enterprises in gaining the enhanced visibility of their network, therefore driving the growth of the market.
Based on end use, the market is segmented into BFSI, telecom & IT, government, retail, e-commerce, and healthcare. Banking information of a particular customer is a sensitive data, which can lead to the damage in reputation of the banks. For instance, in 2019 June, data of almost 100,000 customers of Westpac bank was leaked due to a network breach. The data breach at JPMorgan Chase bank affected 7 million small businesses and 76 million households. All these instances of data breach have contributed to the growth of the market.
North America dominated the overall zero trust security market in 2019 and is expected to continue its dominance over the forecast period. This can be attributed to the presence of several dominant market players in the region. The other factors responsible for its dominance are strategic investments in R&D, strategic partnerships, and deployments of zero trust framework in enterprises across the region.
The leading players are constantly diversifying in terms of the solutions they provide to the customers. For instance, in February 2019, Luminate Security Ltd., an innovator in zero trust security was acquired by Symantec. With the help of this acquisition, Symantec is now able to serve consumers in the integrated cyber defense as well. The key players in the zero trust security market are Cisco Systems Inc., Symantec Corporation, Okta, Inc., Cyxtera Technologies, Sophos Group Plc, Google LLC, Trend Micro Incorporated, IBM Corporation, Check Point Software Technologies Ltd., Pulse Secure, LLC., Akamai Technologies, Inc., Palo Alto Networks, Inc., Forcepoint, LLC, Centrify Corporation, Microsoft, Inc., and VMware Inc.
Market by Component, 2015 - 2026 (USD Million)
- Network security
- Data security
- Endpoint security
- Zero trust security
- API security
- Security analytics
- System integration
Market by Deployment, 2015 - 2026 (USD Million)
Market by Organization Size, 2015 - 2026 (USD Million)
- Large enterprises
Market by End User, 2015 - 2026 (USD Million)
- IT & telecommunication
- Healthcare & life sciences
- Media & entertainment
The above information has been provided for the following regions and countries:
- North America
- Australia & New Zealand (ANZ)
- South Korea
- Southeast Asia
- Latin America
- South Africa
- Saudi Arabia
- Akamai Technologies, Inc.
- Cisco Systems Inc.
- Cyxtera Technologies
- Check Point Software Technologies Ltd.
- Centrify Corporation
- Forcepoint, LLC
- Google LLC
- IBM Corporation
- Microsoft, Inc.
- Okta, Inc.
- Pulse Secure, LLC.
- Palo Alto Networks, Inc.
- Symantec Corporation
- Sophos Group Plc
- Trend Micro Incorporated
- VMware Inc.
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