The global zero trust security market size was USD 25 Billion in 2022 and is expected to register a revenue CAGR of 15% over the forecast period, according to the latest report by Reports and Data.
Zero trust security, a method of information security, is based on the idea that all users, devices, and programmes cannot be trusted and must be verified before being granted access to a network or resource. Due to the requirement to address changing security threats and provide safe access to business resources from any location, at any time, and via any device, the introduction and adoption of zero trust security solutions are gaining speed.
The need for zero trust security solutions has increased due to the growth of cloud-based services and the increase in the number of devices used by employees to access company data and information. Due to the expanding Bring Your Own Device (BYOD) trend, which also increases the risk of data breaches, employees are accessing business data via their personal devices. The need for zero trust security solutions that can ensure data security and compliance while facilitating safe access to corporate resources from any device has surged as a result.
Moreover, demand for zero trust security solutions has increased as a result of the COVID-19 outbreak and remote working being the new norm for many businesses. These changes have led to an increase in cyberattacks, which has raised the demand for efficient security solutions to protect business assets.
Another reason boosting the growth of the zero trust security industry is the increasing need for compliance with data protection legislation like the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). This has raised demand for zero trust security solutions since these regulations require firms to have strong security measures in place to protect customer data and prevent data breaches.
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These regulations require businesses to implement strong security measures to protect customer data and prevent breaches. Zero trust security solutions provide an effective approach by continuously verifying and validating user identities and devices before granting access to resources, reducing the risk of unauthorized access.
Additionally, the use of AI and ML in security solutions is contributing to the growth of the zero trust security market. AI and ML technologies enable real-time threat detection and response by analyzing vast amounts of data and identifying patterns or anomalies that may indicate a security threat. These technologies enhance the ability of zero trust security solutions to monitor and protect networks, devices, and user activities in real-time, bolstering the overall security posture.
By leveraging AI and ML capabilities, zero trust security solutions can adapt to evolving threats and detect sophisticated attacks that may go unnoticed by traditional security systems. This proactive and intelligent approach aligns with the principles of zero trust, where continuous monitoring and authentication are essential for maintaining a secure environment.
As a result, the integration of AI and ML in zero trust security solutions not only strengthens security but also improves operational efficiency by reducing false positives and automating response processes. These factors contribute to the increased adoption of zero trust security solutions and the projected revenue growth in the market.
Some leading companies operating in the global Zero Trust Security Market:
Cisco Systems, Inc., Akamai Technologies, Inc., Okta, Inc., Forcepoint LLC, Palo Alto Networks, Inc., VMware, Inc., IBM Corporation, CyberArk Software Ltd., CenturyLink, Inc., Proofpoint, Inc., and Verizon Communications Inc.
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The global market is further segmented into type and application:
Security Type Outlook (Revenue, USD Billion; 2022 - 2032)
- Network Security
- Data Security
- Endpoint Security
- Cloud Security
- Others
Authentication Outlook (Revenue, USD Billion; 2022 - 2032)
- Single-factor Authentication
- Multi-factor Authentication
Deployment Outlook (Revenue, USD Billion; 2022 - 2032)
- On-premise
- Cloud
Organization Size Outlook (Revenue, USD Billion; 2022 - 2032)
- SMEs
- Large Enterprise
Application Outlook (Revenue, USD Billion; 2022 - 2032)
- IT Telecom
- BFSI
- Healthcare
- Retail
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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