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The zero trust security market size is forecast to increase by USD 15.76 billion at a CAGR of 10.03% between 2023 and 2028. The market in the IT and telecommunications, Manufacturing, Healthcare, Energy and Utilities sectors is experiencing significant growth due to the increasing frequency of targeted cyber-attacks and the growing need for network security. Small and Medium Enterprises (SMEs) in developing countries face budgetary constraints, necessitating cost-effective Zero Trust solutions. In large enterprises, the complexity of IT infrastructure and the growing use of cloud services are driving the adoption of Zero Trust Security. Market trends include the integration of Artificial Intelligence and Machine Learning technologies for threat detection and response, multi-factor authentication, and micro-segmentation.
The market is gaining significant traction in the cloud computing landscape, as organizations shift from the traditional perimeter-based paradigm to a more security approach. With the increasing adoption of cloud services by businesses of all sizes, including European Commission, the need for advanced security solutions has become paramount. The Zero Trust Framework focuses advanced authentication and access control for all users, devices, applications, and services, regardless of their location or status in the network. This security strategy is crucial for cloud service providers, employees, and third-party partners, as it mitigates risks from data breaches and vulnerabilities.
Additionally, legacy systems and internet connectivity pose significant challenges for Zero Trust Security implementation. However, technology advancements, such as vulnerability assessment tools, artificial intelligence, and vulnerability management technologies, are enabling organizations to deploy this model effectively. The market caters to various industry verticals, including finance, healthcare, retail, and education. The deployment model can be hybrid, with on-premises and cloud components, making it suitable for organizations of all sizes. In conclusion, the market is a game-changer for cybersecurity in the cloud computing era. It offers a proactive security approach that prioritizes continuous assessment and mitigation of risks, ensuring data security and business continuity.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The on-premises segment is estimated to witness significant growth during the forecast period. Zero Trust Security is a strategic approach to enterprise security that focuses on strict verification of every access request, regardless of the source or destination. This security model can be deployed on-premise or as a cloud offering, depending on the size and specific requirements of the enterprise. An on-premise deployment model allows organizations to maintain control over all Zero Trust Security components, including next-generation firewalls and intrusion prevention systems. This model enables full customization and integration with existing systems, ensuring compliance with specific business needs. Additionally, since data and applications are stored on in-house servers, organizations retain complete awareness and control over their confidential data and assets. Many organizations prefer this deployment model due to data security concerns and the need for customization.
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The on-premises segment was valued at USD 15.5 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in North America experienced substantial growth in 2023, with the US and Canada being key contributors to the region's revenue. The primary reason for this expansion is the growth in regulatory compliance needs. With an increase in fraudulent activities and tax evasion schemes, governments in North America have intensified their efforts to enforce stricter regulations. Additionally, the number of companies engaging in fraudulent practices, tax evasion, and circumventing international sanctions has risen. Consequently, the demand for zero trust security solutions has significantly increased in this region to ensure authentication and secure access control. Enterprise sizes across industries, including finance, healthcare, and technology, are increasingly adopting this security strategy to deploy zero trust models, fortifying their security posture against potential threats.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing frequency of target-based cyber-attacks is the key driver of the market. In today's digital landscape, the increasing reliance on technology and internet connectivity has led to a heightened risk of data breaches. Cybercriminals exploit vulnerabilities in new and existing infrastructure, including on-premise devices, data centers, cloud-based platforms, and other IT systems. These attacks can target public and private networks, vulnerable systems, devices, and programs, resulting in intellectual property loss, financial damage, and the theft of sensitive customer information. To mitigate these risks, organizations are turning to advanced vulnerability assessment tools and management technologies. Artificial Intelligence (AI) is playing an increasingly significant role in this area, enabling proactive threat detection and response.
Additionally, vulnerability management technologies, such as continuous monitoring, patch management, and configuration management, help identify and address weaknesses before they can be exploited. By implementing these solutions, organizations can strengthen their security posture and protect against the ever-evolving threat landscape.
The growing need for network security is the upcoming trend in the market. In today's business landscape, enterprises across sectors, including finance, healthcare, retail, telecommunications, and manufacturing, are integrating advanced technologies such as IoT and big data analytics to enhance productivity and streamline operations. However, the increasing adoption of these technologies brings about new security challenges. The risk of cyberattacks, particularly DDoS attacks and those involving malicious controllers and applications, is on the rise.
Additionally, many IoT devices, which are integral to these advanced technologies, are susceptible to cyber-intrusions, posing a significant threat to an enterprise's IT infrastructure. To mitigate these risks, companies are investing in vulnerability assessment tools and other advanced security technologies, including artificial intelligence and machine learning, for vulnerability management. These solutions enable real-time threat detection and response, ensuring the security and integrity of sensitive data.
The budgetary constraints among small and emerging startups in developing countries is a key challenge affecting the market growth. In today's digital age, small firms and emerging startups in developing countries face significant challenges in securing their network and IT infrastructure against cyber-attacks due to budget constraints. Despite the critical need for cybersecurity measures, these enterprises often lack the necessary funding to deploy advanced solutions. The increasing reliance on digital technologies like cloud solutions for remote work further exposes them to risks such as malware, ransomware, and phishing attacks. To address these vulnerabilities, companies are turning to technology-driven solutions like zero trust security models. Zero trust security is an advanced approach that verifies every user and device requesting access to the network or applications.
However, vulnerability assessment tools and artificial intelligence are integral components of zero trust security, enabling continuous monitoring and risk assessment. These technologies can help small firms and startups in developing countries strengthen their cybersecurity posture and mitigate potential threats, ensuring business continuity and data protection.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Akamai Technologies Inc. - The market encompasses solutions like Akamai Segmentation, Enterprise Application Access, Secure Internet Access, and Multi-Factor Authentication (MFA), which fortify digital security by eliminating trust in the traditional network perimeter and continuously verifying user and device identities.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the rapidly evolving world of cloud computing, the traditional perimeter-based cybersecurity approach is no longer sufficient. Big technology corporations and cloud service providers are increasingly adopting zero trust frameworks to mitigate the risks of security breaches. Zero trust security is a component of a security strategy that eliminates the assumption that everything inside or outside an organization's network is trustworthy. Employees and third-party partners pose significant risks in today's hybrid model of cloud deployment. Zero trust security employs strict authentication protocols, such as multi-factor authentication, to ensure only authorized entities have access to sensitive data. Cloud-based deployment and on-premises deployment models both require zero trust security.
In conclusion, legacy systems and vulnerabilities in technology, internet connectivity, and industry verticals such as IT and telecom, manufacturing, healthcare, energy and utilities, SMEs, and large enterprises pose significant risks. Vulnerability assessment tools, artificial intelligence, and vulnerability management technologies play crucial roles in zero trust security. The size of the enterprise does not determine the need for zero trust security. Zero trust security is essential for all organizations, regardless of their size or industry. The increasing adoption of 5G technology and the proliferation of IoT devices add to the complexity of zero trust security. Therefore, it is essential to deploy a zero trust security solution that can adapt to the evolving threat landscape.
Moreover, cybersecurity companies and managed security service providers are crucial in combating malware and phishing threats across various enterprise sizes and industry verticals. With the rise of internal and external threats, implementing cloud-based zero-trust security is becoming essential for organizations. This approach ensures that every access request is authenticated, regardless of the device used, whether it's a Bring Your Own Device (BYOD) or Choose Your Own Device (CYOD) policy. For small and medium enterprises (SMEs) and large enterprises alike, a robust security strategy that includes multi-factor authentication can significantly reduce vulnerabilities. By partnering with specialized companies, businesses can effectively tailor their cybersecurity measures to address specific risks, ensuring a comprehensive defense against evolving threats.
Market Scope |
|
Report Coverage |
Details |
Page number |
145 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.03% |
Market growth 2024-2028 |
USD 15.76 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.88 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 33% |
Key countries |
US, China, UK, Canada, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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 Technologies 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 growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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