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Increasing number of cyberattacks is among the major factors boosting revenue growth of the global zero trust security solutions market
— Emergen Research
VANCOUVER, BC, CANADA, May 17, 2023 /EINPresswire.com/ — The Global Zero Trust Security Solutions Market size is expected to reach USD 69.85 Billion in 2028 and register a steady revenue CAGR of 17.2% over the forecast period, according to latest analysis by Emergen Research. Major factors driving market revenue growth are increasing numbers of cyberattacks, presence of stringent regulations for information security and data protection, and increasing digitalization in developing countries. Zero trust security is an IT security framework that requires authentic verification from every single device, user, or machine that attempts to connect or access a private network.
Zero trust security solution uses advanced authentication technologies such as Multi-Factor Authentication (MFA), next-generation endpoint security technology, identity and access management (IAM), and identity protection. MFA is a type of verification method that requires a user or any device to provide two or more authentication values to provide access to a network or resource such as an online account, application, or VPN. North America accounted for largest revenue share in the global market in 2020. Increasing investment by private investors in network security infrastructure and robust presence of major companies are some key factors driving revenue growth of the market in this region.
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Prominent Players Analyzed in the Report: Cisco Systems Inc., Akamai Technologies, Inc., Palo Alto Networks, Inc., Symantec Corporation, Okta, Inc., Forcepoint, LLC., Centrify Corporation, Cyxtera Technologies, Illumio, and Sophos Group Plc.
Some Key Findings From the Report:
In April 2020, Google launched zero-trust approach-based product BeyondCorp Remote Access. This product allows employees to access internal web applications from any device, and from any location, without virtual private network or VPN.
Data security segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing volumes of digital data and rising concerns regarding data security.
Asia Pacific is expected to register fastest revenue CAGR throughout the forecast period. Increasing number of SMEs and developments across the IT sector are key factors driving revenue growth of the market in this region.
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For the purpose of this report, Emergen Research has segmented the global zero trust security solutions market based on type, deployment mode, end-use and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Data Security
API Security
Endpoint Security
Security Policy Management
Security Analytics
Deployment Mode Outlook (Revenue: USD Billion; 2018–2028)
On-Premises
Cloud
End-Use Outlook (Revenue: USD Billion; 2018–2028)
BFSI
IT & Telecommunication
Retail & E-commerce
Healthcare
Energy and Utility
Others
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Regional Outlook (Revenue: USD Billion; 2018–2028)
North America (the U.S., Mexico, and Canada)
Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
Europe (the U.K., France, Germany, and Rest of Europe)
Latin America (Brazil and Rest of Latin America)
Middle East & Africa (GCC Countries and Rest of Middle East & Africa)
What Questions Should You Ask before Buying a Market Research Report?
How is the Zero Trust Security Solutions market evolving?
What is driving and restraining the Zero Trust Security Solutions market?
How will each Zero Trust Security Solutions submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?
How will the market shares for each Zero Trust Security Solutions submarket develop from 2022 to 2030?
What will be the main driver for the overall market from 2022 to 2030?
Will leading Zero Trust Security Solutions markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?
Who are the leading players and what are their prospects over the forecast period?
What are the Zero Trust Security Solutions projects for these leading companies?
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