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

Zero Trust Security Market Report Summary

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%.

This zero trust security market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers zero trust security market segmentations by deployment (on-premises and cloud) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The zero trust security market report also offers information on several market vendors, 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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Zero Trust Security Market: Key Drivers, Trends, and Challenges

The growing frequency of target-based cyber-attacks is notably driving the zero trust security market growth, although factors such as budgetary constraints among small and emerging startups in developing countries may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the zero trust security industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Zero Trust Security Market Driver

• The growing frequency of target-based cyber-attacks is one of the key drivers supporting the zero trust security 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 zero trust security 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. 

Key Zero Trust Security Market Trend

• The growing need for network security is one of the key zero trust security 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.

Key Zero Trust Security Market Challenge

• Budgetary constraints among small and emerging startups in developing countries is one of the factors hampering the zero trust security 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 zero trust security market analysis report also provides detailed information on other upcoming 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.

Parent Market Analysis

Technavio categorizes the global zero trust security market as a part of the global systems software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the zero trust security market during the forecast period.

Who are the Major Zero Trust Security Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, 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.

This statistical study of the zero trust security market encompasses successful business strategies deployed by the key vendors. The zero trust security market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

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.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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

Zero Trust Security Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the zero trust security 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 Zero Trust Security 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 zero trust security 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 zero trust security 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.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 had negatively impacted regional market growth. However, in 2021, with the initiation of large-scale COVID-19 vaccination drives and the lifting of COVID-19-induced lockdowns. Thus, the market is expected to grow during the forecast period.

What are the Revenue-generating Deployment Segments in the Zero Trust Security Market?

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The zero trust security 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.

This report provides an accurate prediction of the contribution of all the segments to the growth of the zero trust security market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Zero Trust Security Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive zero trust security market growth during the next five years
• Precise estimation of the zero trust security market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the zero trust security industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of zero trust security market vendors

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