Zero Trust Security Market Worth $99.17 Billion by 2030 | The Growing Need for Cloud-Based Zero Trust Security Solutions to Augment Industry Growth: The Brainy Insights

·6 min read
The Brainy Insights
The Brainy Insights

An increasing number of cyber risks are creating the rules for data security which is expanding the zero-trust security market.

Newark, Aug. 15, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global zero trust security market is expected to grow from USD 23.23 billion in 2021 to USD 99.17 billion by 2030, at a CAGR of 17.50% during the forecast period 2022-2030.

Zero trust is a strategic approach in cybersecurity that provides an organization with stopping unauthorized access and constantly validating every stage of digital interaction. The demand for securing highly complex networks, increasing network administration visibility, and the surging demand to control and fight internal and external threats related to unauthorized access are pushing the need for dedicated security solutions, therefore expanding the development of the global zero trust security market. Recently the increasing technologies and supporting internet connectivity have developed internal or external web threats. Similarly, the incidences of data breaches and exposure have also grown enormously, ultimately increasing the demand to outsource security services and leading to market development.

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Competitive Strategy

To enhance their market position in the global zero trust security market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

• In February 2020 - BlackBerry Limited established the BlackBerry Spark platform with the expansion of a suitable endpoint security layer, which can at the same time work with the company's centralized endpoint management to provide zero trust security. BlackBerry Spark platform leverages Artificial intelligence, machine learning, and automation to improve cyber threat prevention and remediation and delivers visibility across desktop, mobile, server, and IoT endpoints.

Market Growth & Trends

The increasing adoption of cloud technologies and endpoint devices among companies has pushed the demand for a zero-trust security model. The IT infrastructure of businesses has become more powerful and challenging, and the threat of internal violations and external cybercrimes due to illegal access has grown over the years. To overcome this problem, security vendors are concentrating on presenting zero trust security ideas with the combination of security solutions and services in a framework by creating multiple layers of authentication to allow access to a device or network. The opening of Artificial Intelligence (AI), Machine Learning (ML), IoT (Internet of things), BYOD, and blockchain has raised the influx of machines that operate the cloud for data transfer and warehouse. Further, connected devices with IoT (Internet of things) and AI (Artificial Intelligence) capabilities continuously collect and store data in the cloud, making them susceptible to hackers. Thus, security vendors have begun highlighting the adoption of zero trust models for a healthy and holistically associated Information technology environment.

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Key Findings

• In 2021, the on-premises segment dominated the market with the largest market share of 54% and market revenue of 12.54 billion.

The deployment segment is divided into cloud, and on- premises. In 2021, the on-premises segment dominated the market with the largest market share of 54% and market revenue of 12.54 billion. The on-premises model allows institutions to better manage security through zero trust security solutions like next-generation intrusion prevention systems and next-generation firewalls.

• In 2021, the endpoint security segment dominated the market with the largest market share of 26% and market revenue of 6.03 billion.

The solution type segment is divided into API security, endpoint security, security policy management, security analytics, and data security. In 2021, the endpoint security segment dominated the market with the largest market share of 26% and market revenue of 6.03 billion. Endpoint security is essential for ensuring modern businesses and controlling cyber theft from accessing networks.

• In 2021, the large enterprise segment dominated the market with the largest market share of 62% and market revenue of 14.40 billion.

The organization size segment is divided into large enterprise, and SMEs. In 2021, the large enterprise segment dominated the market with the largest market share of 62% and market revenue of 14.40 billion. Large enterprises are changing their security planning and guidelines to have zero trust security to save the institution from cyber-attacks. Large enterprises usually do not have funding constraints which enables them to install the zero trust security methods to protect their secret data and details from cyber-attacks.

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Regional Segment Analysis of the Zero Trust Security Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Among all regions, the North American region emerged as the largest market for the global zero trust security market, with a market share of around 34.5% and 8.01 billion of the market revenue in 2021. Due to multiple players delivering cutting-edge solutions to different industry domains in the region, there has been an extensive deployment of zero trust security solutions due to planned investments, partnerships, and substantial research & development actions. Therefore, North America can contribute the highest development in zero trust security market in the projection years.

Key players operating in the global zero trust security market are:

• Akamai Technologies Inc.
• Blackberry Limited
• Broadcom Inc. (Symantec Corporation)
• Centrify Corporation
• Check Point Software Technologies Ltd
• Cisco Systems Inc.
• Cyxtera Technologies Inc.
• Fortinet Inc.
• Google Inc.
• IBM Corporation
• Microsoft Corporation
• Okta Inc.
• Palo Alto Networks Inc.
• Sophos Group PLC
• Vmware Inc

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This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global zero trust security market based on the below-mentioned segments:

Global Zero Trust Security Market by Deployment:

• Cloud
• On- Premises

Global Zero Trust Security Market by Solution Type:

• API Security
• Endpoint Security
• Security Policy Management
• Security Analytics
• Data Security

Global Zero Trust Security Market by Organization Size:

• Large Enterprise
• SMEs

About the report:

The global zero trust security market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

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