Zero Trust SecurityMarket - North America, Europe, EMEA, APAC : US, Canada, China, Germany, UK - Forecast 2022-2026

Zero Trust Security Market Forecast 2022-2026

The zero trust security market share is expected to increase by USD 2.87 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 16.15%.

The zero trust security market report also offers information on several market players, including Akamai Technologies Inc., Alphabet Inc., Broadcom Inc., Centrify Corp., Check Point Software Technologies Ltd., Cisco Systems Inc., Citrix Systems Inc., Cloudflare Inc, Cyxtera Technologies Inc., Dell Inc., Forcepoint LLC, Fortinet Inc., Illumioa Inc., International Business Machines Corp., Microsoft Corp, Musarubra US LLC, Okta Inc., Palo Alto Networks Inc., Sophos Ltd., and VMware Inc. among others.

What will the Zero Trust Security Market Size be During the Forecast Period?

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Market: Key Drivers, Trends, and Challenges

The growing frequency of target-based cyber-attacks is notably driving the market growth, although factors such as budgetary constraints among small and emerging startups in developing countries may impede market growth. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Market Driver

• The growing frequency of target-based cyber-attacks is one of the key drivers supporting the market growth.
• New and existing infrastructure, including on-premise devices, data centers, cloud-based platforms, and other IT infrastructure, are frequently exposed to target-based cyber-attacks. 
• In response to governmental directives and recommended safety measures to reduce COVID-19 cases, enterprises modified their workplace practices globally. The digital ways of doing business became the new business continuity plan (BCP) for various organizations. 
• Employees made use of digital technologies such as cloud solutions to work remotely. This accelerated traffic attacks and other security threats, and the need for cloud and enterprise security increased. In view of this, new vendors are entering the market. 
• Vendors in the global market offer cloud and on-premise zero trust security solutions designed to keep infrastructure, websites, applications, application programming interfaces (APIs), and users safe from a multitude of target-based cyberattacks and online threats while improving performance. 

Major Market Trend

• The growing need for network security is one of the key market trends contributing to the market growth.
• Enterprises from different industries, such as BFSI, healthcare, retail, telecommunications, and manufacturing, are deploying technologies, such as IoT and big data analytics, to increase productivity and reduce operational complexity. 
• The deployment of advanced technologies, such as the cloud and IoT, is increasing the risk of cyberattacks. Some security challenges of the deployment of such technologies include DDoS as well as malicious controllers and applications.
• Many IoT devices are vulnerable to cyber-attacks and thus, could serve as a means for an attacker to hack into an enterprise's IT infrastructure. Often these devices are mass-produced and identical, which allows the attacker to learn how to infiltrate them. 
• A hacker could hack into an IoT device with default or weak passwords from a list of common default passwords. IoT devices that are not routinely updated could be compromised by a hacker exploiting a known flaw in the software. 
• There is a growing demand for improved visibility in terms of users accessing the enterprise network from various locations, accessed applications, and the exact time of access. Thus, the demand for IoT security solutions will drive the growth of the market during the forecast period.

Significant Market Challenge

• Budgetary constraints among small and emerging startups in developing countries is one of the factors hampering the market growth.
• Small firms and emerging startups, especially in developing countries, have budgetary constraints to deploy cybersecurity solutions due to the lack of capital. 
• The enterprises have high cybersecurity requirements to safeguard their network and IT infrastructure from various cyber-security attacks. However, the budget planned by these enterprises to address these requirements is not sufficient. 
• In the present scenario, small and medium-sized companies and startups in developing countries such as India, China, and others are using digital technologies such as cloud solutions to work remotely.
• There is a strong need for emerging startups to adopt zero-trust security and take cybersecurity measures to ensure the safety of their databases from cyber-attacks. However, due to budgetary constraints, many of these small-scale startups are unable to take these precautionary measures, which may pose a challenge to the market growth in the forecasted period.

This market analysis report also provides detailed information on market growth and trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Zero Trust Security Market Companies?

The market research report analyzes the market’s competitive landscape and offers information on several market companies, including:

• Akamai Technologies Inc.
• Alphabet Inc.
• Broadcom Inc.
• Centrify Corp.
• Check Point Software Technologies Ltd.
• Cisco Systems Inc.
• Citrix Systems Inc.
• Cloudflare Inc
• Cyxtera Technologies Inc.
• Dell Inc.
• Forcepoint LLC
• Fortinet Inc.
• Illumioa Inc.
• International Business Machines Corp.
• Microsoft Corp
• Musarubra US LLC
• Okta Inc.
• Palo Alto Networks Inc.
• Sophos Ltd.
• VMware Inc.

Product Insights and News

• paloaltonetworks.com - Under the single operating segment, the company offers software solutions, cloud security, threat intel, and consulting.
• paloaltonetworks.com - The company offers zero trust security namely ZTNA 2.0 which is integrated with Prisma Access.

The market forecast report offers in-depth insights into key company profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Market?

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37% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the market in North America. Market growth in this region will be slower than the growth of the market in Europe and APAC.

The rise in legal administrative services will facilitate the market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Deployment Segments in the Market?

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The market share growth by the on-premises segment will be significant during the forecast period. On-premises solutions allow ownership and control of security monitoring, which offers a flexible and adaptive security program. This is expected to increase the demand for on-premises deployment over the forecast period. Moreover, the increasing activities of cyber criminals who are successfully penetrating and moving laterally within the security perimeter are expected to drive the on-premise implementation of zero-trust security in organizations.

Market Analyst Overview

The market is witnessing rapid growth due to the increasing adoption of remote work and cloud computing. Organizations are embracing a zero trust approach to cybersecurity, focusing on securing apps and data regardless of their location. Data privacy laws such as GDPR and CCPA are driving the need for stronger cybersecurity strategies, including identity and access management (IAM) and zero trust network access (ZTNA) solutions. These solutions aim to mitigate risks from phishing and social engineering attacks, which often target user credentials.

As financial systems become more digital, cybersecurity vulnerabilities pose a significant threat to financial stability. Central bank authorities are implementing cybersecurity regulations to protect against data breaches and ensure the security of contactless payment modes. Advanced technologies like network automation and cloud-based services are crucial for combating ransomware and phishing attacks. Major players are leading the market with their innovative security solutions, including Microsoft Entra and Cisco Secure Access. The market is also witnessing partnerships and acquisitions, such as Broadcom's acquisition of VMware and Symantec's security portfolio, to enhance product differentiation and adoption. These developments are crucial for ensuring the security of remote users and internet services in today's digital landscape.

Zero Trust Security Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 16.15%
Market growth 2022-2026	USD 2.87 billion
Market structure	Fragmented
YoY growth (%)	9.8
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 37%
Key consumer countries	US, Canada, China, UK, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Akamai Technologies Inc., Alphabet Inc., Broadcom Inc., Centrify Corp., Check Point Software Technologies Ltd., Cisco Systems Inc., Citrix Systems Inc., Cloudflare Inc, Cyxtera Technologies Inc., Dell Inc., Forcepoint LLC, Fortinet Inc., Illumioa Inc., International Business Machines Corp., Microsoft Corp, Musarubra US LLC, Okta Inc., Palo Alto Networks Inc., Sophos Ltd., and VMware Inc.
Market dynamics	Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2022 and 2026
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market vendors

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