Market Overview:

The market for Zero-Trust Security was valued at approximately USD 28.14 Billion in 2023. Over the course of the forecast period (2024–2031), the market is expected to develop at a compound annual growth rate (CAGR) of 16.6%, reaching a value of USD 90.2 Billion by 2031.

The increased prevalence of CYOD and BYOD concepts, an increase in cyberattacks, and improved cybersecurity regulations are just a few of the causes driving the rise of the zero-trust security market. Within enterprises, the growing popularity of Bring Your Own Device (BYOD) and Choose Your Own Device (CYOD) policies is evident. Zero-trust security has grown because of significant benefits like lower costs associated with purchasing endpoint infrastructure. Such ideas are also becoming more and more popular because they guarantee increases in worker productivity when they let people use familiar technologies. In the midst of the COVID-19 pandemic, as more companies adopted remote work policies, the BYOD idea gained popularity.

However, by enabling employees to use their dedicated endpoints to access cloud applications and company information, the BYOD and CYOD models raise the risk of data theft. Malware attacks and Advanced Persistent Threats (APT) cannot be completely stopped by conventional cyber security solutions. Additionally, firms must fortify their cyber security architecture with zero trust approaches since skilled cyber threat actors are always looking for new ways to breach corporate networks. By facilitating endpoint, user, and location authentication, zero trust approaches assist businesses in limiting access to organizational data to only those who can be trusted. Incorporating the BYOD approach can improve an organization's security.

The possibility of a cyberattack is increasing significantly as cyber threat actors hunt for gaps in an organization's IT architecture. Cybercriminals take advantage of vulnerabilities to steal confidential information while staying anonymous. Cyber threat actors employ a variety of strategies, including spear-phishing, sophisticated malware, persistent campaigns, and watering holes, to take advantage of organizational growth. For instance, according to a report by Check Point Software Technologies Ltd., worldwide cyberattacks increased by 28% in the third quarter of 2022 compared to 2021. Globally, businesses experienced an average of over 1,100 attacks every week.

Targeted attacks against organizations worldwide have dramatically escalated over time. Via endpoints, cloud-based apps, and other weak networks, attackers get access to a target organization's network infrastructure. Such focused assaults have a detrimental effect on a company's essential functions, resulting in monetary losses, the loss of private client data, and the theft of intellectual property. A sponsored study by Quocirca and Trend Micro Incorporated found that influencing an organization's financial profits is the most typical goal of a targeted hack. In order to reduce the possibility of losing sensitive personal information, intellectual property, and money, a proactive detection layer is essential. By recognizing the actions of users breaking into any network, proactive cyber threat detection and mitigation can be accomplished through the application of zero security principles.

Market Dynamics:

Market Drivers:

Increasing Frequency and Sophistication of Cyber Threats

• Zero-Trust Security solutions are becoming more and more popular due to the increasing sophistication and frequency of cyber threats, such as ransomware, phishing attacks, malware, and data breaches. Organizations must now be protected from sophisticated cyber threats that target endpoints, networks, and cloud environments, and can no longer be secured by traditional perimeter-based security measures. Zero-Trust Security takes a proactive, all-encompassing approach to cybersecurity, placing a strong emphasis on ongoing user, device, and application authorization and verification, independent of the devices' or users' whereabouts inside the network. Organizations understand that in order to improve their security posture, reduce risks, and protect sensitive assets and data from unauthorized access and exploitation, they must use Zero-Trust Security concepts and technologies as cyberattacks get more frequent, varied, and sophisticated.

Acceptance of Remote Working Environment & Cloud Computing

• The demand for Zero-Trust safety measures is being driven by the increasing usage of remote work arrangements and cloud computing services. The companies are confronted with new security concerns including data protection, compliance, and entry control as they become more reliant on cloud-based systems, apps, and collaborative platforms.  Zero-Trust Security provides a framework for providing granular access controls, micro-segmentation, & continuous monitoring in order to properly secure cloud environments & remote access points. Enterprises adopting cloud-native architectures and distributed workforce models are placing a growing demand on Zero-Trust Security solutions that can adapt to ever-changing and heterogeneous IT environments. This is driving innovation and commercial expansion in the field of zero-trust security.

Market Trends:

Adoption of Zero-Trust Architecture​

• The extensive use of Zero-Trust architecture by businesses in a range of sectors. Conventional security models depended on fortifications around the perimeter, assuming that everyone in the network was trustworthy and giving users and devices full access rights once they were inside. However, perimeter-based security is no longer enough due to the rise in sophisticated cyberthreats and the complexity of IT environments. Regardless of location or network boundaries, access constraints are strictly enforced based on verification of user identification, device integrity, and application behavior in Zero-Trust Security, which takes the "never trust, always verify" approach. Zero-Trust architecture adoption is growing in popularity as businesses realize the shortcomings of conventional security paradigms & seek more robust defense against both internal and external attacks. As more businesses engage in Zero-Trust Security solutions to strengthen their cybersecurity posture and reduce the risk of data breaches and illegal access, this trend is fueling market growth.

Integration of AI and ML Technologies

• The market for zero-trust security is driven by the incorporation of machine learning (ML) and artificial intelligence (AI) technologies into zero-trust security solutions. In order to identify unusual patterns and possible security risks in real-time, AI and ML algorithms examine enormous volumes of data from many sources, such as user activity, network traffic, and also endpoint telemetry. Zero-Trust Security solutions may detect abnormal behavior, dynamically adjust access controls, and automatically take corrective action in response to emerging risks by utilizing AI and ML capabilities. As businesses strive to stay abreast of evolving cyberthreats and mitigate the consequences of security errors, proactive threat identification & response are becoming increasingly crucial in cybersecurity. This pattern demonstrates this trend. The incorporation of AI and ML technologies into Zero-Trust Security solutions improves detection accuracy, lowers false positives, and boosts overall security posture. This drives consumer adoption and innovation in the Zero-Trust Security market as these technologies continue to mature and become more accessible.

Market Restraining Factors:

Organizational Resistance to Change​

• The refusal of organizations to change exists in the market for zero-trust security. In order to implement Zero-Trust Security, cybersecurity methods and mindset need to fundamentally shift from traditional perimeter-based security models to a more dynamic and granular strategy to access management and authentication. Stakeholders such as IT teams, security experts, and end users, who might be hesitant to embrace new security paradigms or think Zero-Trust Security is too burdensome or disruptive to workflow, could, however, provide challenges for many businesses. Opposition to change can impede the effective deployment and acceptance of Zero-Trust Security solutions, causing delays in project schedules, higher implementation expenses, and reduced security measure efficacy. In order to create buy-in, establish trust, and ease the adoption of Zero-Trust Security practices and principles, it is necessary to address organizational resistance to change through effective communication, stakeholder engagement, & change management techniques.

Key Industry Developments:

• In May 2023, VMware declared the availability of VMware Anywhere Workspace, a brand-new zero trust security solution that offers safe access to data and apps from any network, device, or location.
• In March 2023, In order to improve its SASE platform and zero trust security capabilities, F5 Networks announced the purchase of Volterra, a provider of cloud-native networking and security solutions.

Report Coverage:

The report will cover the qualitative and quantitative data on the global Zero-Trust Security Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations:

Zero-Trust Security Market Players Analysis:

• Akamai Technologies
• Appgate
• Broadcom
• Check Point Software Technologies Ltd.
• Cisco Systems, Inc.
• Cloudflare, Inc.
• CrowdStrike
• Forcepoint
• Fortinet, Inc.
• IBM
• Musarubra US LLC
• Microsoft
• Okta
• Palo Alto Networks
• Zscaler, Inc.

Zero-Trust Security Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2024-2031 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Zero-Trust Security Market Segmentation Analysis:

By Security Type

• Network Security
• Data Security
• Endpoint Security
• Cloud Security
• Others

By Deployment

• On-premises
• Cloud

By Organization Size

• SMEs
• Large Enterprise

By Authentication

• Single-factor authentication
• Multi-factor authentication

By Application

• IT & Telecom
• BFSI
• Healthcare
• Retail
• Others

The report also helps in understanding Global Zero-Trust Security Market dynamics, structure by analyzing the market segments, and project the Global Zero-Trust Security Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Zero-Trust Security Market make the report investor’s guide.

Segmentation Analysis:

The market is divided into categories based on By Security Type, By Deployment, By Organization Size, By Authentication, By Application.

By Deployment

Based on the Product of the market is segmented into On-premises, Cloud.

The cloud deployment segment of the market is anticipated to develop at the fastest rate, exceeding 17% between 2023 and 2030. The comfort and convenience that cloud-based deployment offers—such as the elimination of the need for in-house resources, lower upfront costs, ongoing surveillance, flexible choices, automatic backups, and efficient patch management—are responsible for the segment's growth. Throughout the years 2023–2030, the cloud-based deployment industry experienced significant growth due in large part to its flexibility and scalability.

The on-premises deployment category had the highest revenue share of over 77% in 2022 and is predicted to grow at a significant rate of compound annual growth (CAGR) from 2023 to 2030 due to the strong preference for this type of deployment. It is preferable for confidential data to remain on site at an organization rather than be moved to the cloud. Additionally, on-premises solutions offer a flexible and adaptive security program by allowing direct ownership and management over security monitoring. This is expected to drive up demand for on-premises implementation over the projected period. However, companies are moving away from on-premises solutions since cloud-based alternatives are less expensive.

By Application

Based on the Application of the market is categorised into IT & Telecom, BFSI, Healthcare, Retail, Others.

The IT and telecom sector had the largest revenue share in 2022—more than 45%—and was expected to stay in the lead for the duration of the prediction. Unified, secure access and network solutions are required due to the growing inclination towards cloud-based infrastructure and digital apps for information procurement and business facilitation. The incumbents in the telecom sector also invest in a number of security-related technologies in addition to offering data transfer services. It is anticipated that the use of this approach will increase dramatically as more people become aware of the advantages and uses of zero-trust security.

The industry with the fastest predicted CAGR between 2023 and 2030 is the healthcare sector. The demand for secure network infrastructure services is being driven by the ongoing development and application of technologies, such as analytics and healthcare services, to enable efficient communication between entities and end users. Furthermore, the necessity for a sophisticated security architecture to safeguard sensitive data was brought about by the rise in cyberattacks against healthcare IT infrastructures. It is anticipated that these elements would hasten the need for zero-trust security in the medical field.

Regional Snapshots:

By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study.  North America held a substantial revenue share of over 36% in 2022 and is predicted to grow at a substantial compound annual growth rate (CAGR) from 2023 to 2030, dominating the worldwide market. The government and public authorities' increased spending on security is predicted to fuel a growing need for zero-trust security model solutions, which is anticipated to propel the regional market. The expansion of the regional market is also facilitated by the growing use of digital technology, artificial intelligence (AI), and the Internet of Things (IoT) by SMEs and major corporations, as well as by the stricter regulations and guidelines enacted to protect data security and privacy.

On the other hand, Asia Pacific is predicted to have the fastest CAGR between 2023 & 2030. The need to monitor access to secured networks and remain vigilant against unauthorized data breaches in the public, financial, healthcare, and e-commerce sectors is driving the rise of the regional market. A number of data breach instances and the ensuing ramifications have led to an increase in demand for threat-hunting services. For example, in May 2020, in addition to the two billion voter data sets currently for sale, the dark web threatened to sell the personal information of 200 billion voters.

Zero-Trust Security Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report:

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Reasons to Purchase:

• To gain insightful analyses of the Zero-Trust Security market and have comprehensive understanding of the global market and its commercial landscape.
• Assess the production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
• Learn about the Zero-Trust Security market strategies that are being adopted by leading respective organizations.
• To understand the future outlook and prospects for the Zero-Trust Security market. Besides the standard structure reports, we also provide custom research according to specific requirements.

Research Scope of Zero-Trust Security Market:

• Historic year: 2019- 2022
• Base year: 2023
• Forecast: 2024 to 2031
• Representation of Market revenue in USD Million

Zero-Trust Security Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: