The Global Zero Trust Security Market was valued at USD 20.2 billion in 2020 and is projected to grow at a CAGR of 19.7% during the forecast period till 2028. Zero trust security is an IT-based security model that involves strict identity authentication for anyone attempting to access resources on a private network, whether they are within or outside the network perimeter.
Zero trust architecture is a comprehensive approach to network security that combines many different concepts and technologies, instead of a single specific technology. This model delivers a superior balance between security and usability. Users can get a consistent and efficient security experience regardless of where they are located, what endpoints they are using, or whether their applications are on-premises or in the cloud, while security teams can make it harder for attackers to collect what they need among user credentials or network access.
FIGURE 1: ZERO TRUST SECURITY MARKET
The factor that is fueling the adoption of zero trust security model is the growing activities of cybercriminals who are effective at penetrating and moving laterally inside the security perimeter of the organizations, which completely rely on on-premises firewalls and VPNs endpoints. These on-premises deploying organizations lack end-to-end security coverage.
In recent years, targeted attacks by various attackers, invading the target's network infrastructure while maintaining anonymity, have become a major concern. These attackers attack the endpoints, on-premises computers, cloud-based applications, and other IT infrastructure of an organization with a focus on a particular target. Due to such targeted attacks, an organization’s business activities get adversely affected in terms of intellectual property loss, financial loss, and loss of critical and confidential customer information. Therefore, most organizations have begun or had completed the implementation of the zero trust security model. This factor is anticipated to drive the growth of the market over the forecast period.
FIGURE 2: ZERO TRUST SECURITY MARKET SEGMENTATION
The global zero trust security market is segmented based on solution, authentication type, deployment type, organization size, verticals, and region.
Zero Trust Security Market, By Solution
Based on the solution, the market is classified into API security, data security, endpoint security, network security, security analytics, security orchestration automation and response, security policy management, and others. Among these, data security is one of the significantly growing segments of the global zero trust security market.
The zero trust security model is a technological initiative that eliminates the concept of trust from an organization's network infrastructure, preventing significant data breaches. Regardless of where users are, which devices are being used, or where workloads and data are hosted, a software-defined perimeter provides safe user access and avoids data loss (i.e., data centers, public clouds, or SaaS applications).
The growing number of data breaches around the globe is propelling the growth of the data security segment. For instance, in May 2019, the Australian graphic design tool Canva was hacked, exposing 137 million users' email addresses, usernames, names, cities of residence, and salted and hashed with crypt passwords. The hackers were able to access, but not steal files containing partial credit card and payment data, according to the company. Therefore, maintaining customer trust requires a high degree of data protection.
Zero Trust Security Market, By Authentication Type
Based on the authentication type, the market is bifurcated into single-factor authentication and multi-factor authentication. Among these, the multi-factor authentication segment is expected to hold the largest market share of the global zero trust security market.
MFA (multi-factor authentication) is a key component of zero-trust security. MFA simply implies that a user must have more than one piece of evidence to be authenticated; thus, simply entering a password will not grant access. The 2-factor authorization (2FA) used on prominent online platforms like Facebook and Google is an example of MFA (multi-factor authentication) in practice. Users who enable 2FA for these services must enter a code sent to another device, such as a mobile phone, in addition to a password, to claim they are real ones to access the service.
Zero Trust Security Market, By Deployment Type
Based on the deployment type, the market is bifurcated into on-premises and cloud. The cloud deployment model is expected to grow at a faster pace in this industry, as it is easily adopted by various businesses, and sensitive data is processed in the cloud across various vertical lines. They're also cost-effective because they don't necessitate the purchasing, installation, or maintenance of hardware or software.
Currently, most of the companies have applications or infrastructure in the cloud. These cloud environments, which are managed by cloud service providers and SaaS vendors, are not connected to a company's network. Thus, most companies have applications and data distributed through many locations. Hence, companies are losing insights into who is accessing their applications and data, or even what devices are being used to access them since most of their assets are on third-party infrastructure.
This mix of technology creates a fragmented security architecture that is difficult to make sure what policies are in place to protect any given data in the cloud. Therefore, the zero trust security model is an essential parameter in cloud-based deployments because it offers greater visibility into data, assets, and threats, as well as reliable and comprehensive security, speed, and agility to keep up with emerging technology and reduced operating cost and complexity.
Zero Trust Security Market, By Organization Size
Based on the organization size, the market is bifurcated into the small and medium-sized enterprises (SME) and large enterprises. The large enterprise's segment is anticipated to hold the largest market share than small and medium-sized enterprises (SMEs). This growth is attributed to the growing adoption of zero trust security model by large enterprises to safeguard their network, end-points, data centers, users, and applications from unauthorized access and ransomware cyber-attacks. Furthermore, the market is also growing due to the increasing adoption of multi-factor authentication (MFA) by large enterprises to allow privileged access to servers and web applications.
Zero Trust Security Market, By Verticals
Based on verticals, the market is divided into BFSI, energy and power, government, healthcare, IT and telecom, manufacturing, retail, and others. The BFSI segment is expected to grow significantly over the forecast period.
Financial institutions have realized the benefits of cybersecurity and have employed trained cybersecurity experts to oversee their IT security operations. Financial organizations spend approximately 40% of their time and that of their teams reconciling different cybersecurity and regulatory structures, according to the FSSCC (Financial Services Sector Coordinating Council). Financial services firms are also outflanked by cybercriminals, despite having sophisticated security frameworks and well-documented processes. Hence, financial institutions using the zero trust security model safeguard their business priorities, such as protection of confidential data, risk reduction, and ensuring compliance. As major BFSI organizations switch their on-premise infrastructure to the cloud, zero-trust security approaches are becoming more prominent. Banks would improve their security posture by adopting a zero trust model, allowing them to confidently embrace initiatives that offer employees and customers more flexibility.
Zero Trust Security Market, By Region
Based on regions, the global zero trust security market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The North America region is anticipated to hold a major market share over the forecast period.
Many of the world's large organizations have a main center in North America. The demand for zero-trust security in the region is being driven by the growth of various end-use industries and the widening security perimeter. Individuals, corporations, and governments are all at risk of data breach attacks. As a result, the region's focus has shifted to data security. Cyberattacks are also on the rise in the North American region, especially in the United States. They've hit a new high due to the region's rapidly growing number of connected devices.
A significant number of merger-acquisition transactions have been witnessed in the regional business ecosystem, which is further promoting the market growth. For instance, in February 2019, Symantec Corp., one of the leaders in cybersecurity acquired Luminate Security, a privately held company with pioneering software-defined perimeter and a zero trust innovator.
Luminate’s secure access cloud technology has further expanded the power of Symantec’s integrated cyber defense platform to users as they access workloads and applications regardless of where those workloads are deployed or what infrastructure they are accessed through. With this acquisition, Symantec’s integrated cyber defense platform unifies cloud and on-premises security across endpoints, networks, email, and cloud, protecting against even the most sophisticated threats and reducing cost and complexity.
FIGURE 3: ZERO TRUST SECURITY MARKET (USD BILLION), PRE-COVID AND POST-COVID MARKET ESTIMATION AND FORECAST, 2020-2028
Some Recent Developments in the Global Zero Trust Security Market
- January 2021 - Google LLC has announced the general availability of Google’s extensive zero trust product offering, BeyondCorp Enterprise, which extends and replaces BeyondCorp Remote Access. Google is no stranger to zero trust, having been on this path for over a decade with their own deployment of BeyondCorp, a technology suite used internally by Google to secure its apps, data, and users. BeyondCorp Enterprise provides organizations with this cutting-edge, well-proven technology so they can begin their own zero-trust journey. This zero trust security solution will not only strengthen an organization's security posture but will also provide users and administrators with a simple experience.
- In September 2020 – CrowdStrike Holdings, Inc., one of the leaders in cloud-delivered endpoint and cloud workload protection, acquired Preempt Security. Preempt Security is a leading provider of zero trust and conditional access technology for real-time access control and threat prevention. CrowdStrike's Zero Trust capabilities will be expanded with the inclusion of Preempt Security, which will integrate essential identity behavior data and analysis to help customers strengthen their protections and avoid identity-based attacks and insider threats.
- In June 2019, Palo Alto Networks captured PureSec to enhance Prisma's contribution. Parsec is one of the competitors in serverless framework security, and it provides support to all serverless vendors, such as AWS Lambda, Azure Functions, Google Cloud Functions, and IBM BlueMix.
- In April 2019, Cyxtera Technologies declared the setup of Risk Orchestrator to empower the energy, reach, and scale of its complete fraud prevention platform.
The key leading players in zero trust security market are Cisco Systems, Inc., Akamai Technologies, Palo Alto Networks, Okta Inc., IBM Corporation, Symantec Corporation, FireEye Inc., McAfee Corporation, Check Point Software Technologies Ltd, Fortinet, Google Inc., and Cloudfare Inc., among others.
What Does This Report Provide?
This report provides a detailed understanding of the global zero trust security market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market. The major market drivers, challenges, restraints, and opportunities for the global zero trust security market have also been covered in the report.
This report further includes the market shares of the leading companies operating in the zero trust security market, along with their production capacities and the growth strategies adopted by them. An in-depth pricing analysis, patent analysis, and distribution channel analysis have also been covered in the report. Besides these, how the COVID-19 pandemic has affected the global zero trust security market has been analyzed in this study, both in terms of qualitative and quantitative analysis.
- API Security
- Data Security
- Endpoint Security
- Network Security
- Security Analytics
- Security Orchestration Automation and Response
- Security Policy Management
By Authentication Type
- Single-factor Authentication
- Multi-factor Authentication
By Deployment Type
By Organization Size
- Small and Medium-sized Enterprise (SME)
- Large Enterprise
- BFSI (Banking, Financial Services, and Insurance)
- Energy and Power
- IT and Telecom
North America Zero Trust Security Market
- North America, by Country
- North America, by Solution
- North America, by Authentication Type
- North America, by Deployment Type
- North America, by Organization Size
- North America, by Verticals
Europe Zero Trust Security Market
- Europe, by Country
- Rest of Western Europe
- Europe, by Solution
- Europe, by Authentication Type
- Europe, by Deployment Type
- Europe, by Organization Size
- Europe, by Verticals
Asia Pacific Zero Trust Security Market
- Asia Pacific, by Country
- South Korea
- Rest of Asia Pacific
- Asia Pacific, by Solution
- Asia Pacific, by Authentication Type
- Asia Pacific, by Deployment Type
- Asia Pacific, by Organization Size
- Asia Pacific, by Verticals
Middle East & Africa Zero Trust Security Market
- Middle East & Africa, by Country
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa, by Solution
- Middle East & Africa, by Authentication Type
- Middle East & Africa, by Deployment Type
- Middle East & Africa, by Organization Size
- Middle East & Africa, by Verticals
South America Zero Trust Security Market
- South America, by Country
- o Brazil
- o Argentina
- o Colombia
Rest of South America
- South America, by Solution
- South America, by Authentication Type
- South America, by Deployment Type
- South America, by Organization Size
- South America, by Verticals
Reasons to Buy This Report:
- Market size estimation of the zero trust security market on a regional and global basis
- Unique research usage for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
We provide customization of the study to meet specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
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