Zero Trust Security Market Highlights
According to Market Research Future, the zero trust security market has been segmented based on solution, organization size, authentication type, deployment, vertical, and region/country.
Zero trust access security gives access only to the network and cloud resources to authorized users. The access provided is limited to the accomplishment of the tasks. It strictly enforces data security and threat prevention policies. The zero-trust security solutions work with the assumption that the cyber attackers are present both inside and outside of the network, and thus, the users or machines should not be automatically trusted.
By authentication type, the global zero-trust security market has been divided into single-factor authentication and multi-factor authentication. The multi-factor authentication segment is expected to have a larger market share during the forecast period as multi-factor authentication (MFA) is one of the core features of zero-trust security. In this process, a user is authenticated with more than one way; such as only entering a password is not enough to gain access. In addition to entering a password, the users are required to enter a code that has been sent to another device, such as an SMS on mobile phone or email verification. Thus, users are verified in two ways.
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By solution type, the global zero trust security market has been divided into data security, network security, API security, security analytics, endpoint security, security orchestration automation and response (SOAR), security policy management and others. The network security segment is expected to have the largest market size during the forecast period, as it is the most important and core feature of the zero-trust security model.
Based on organization size, the global zero trust security market has been categorized as large enterprise and small- and medium-sized enterprises (SMEs). The large enterprise segment is expected to account for the larger market share during the review period. These enterprises adopt the solutions to protect their network, end-points, data centers, devices, users, and applications from unauthorized usage and malicious ransomware attacks.
Based on deployment, the global zero-trust security market has been divided into on-premise and cloud. The cloud segment is expected to grow with a faster CAGR during the review period as these offer the benefits of cloud technology such as speed, scalability, and enhanced IT security which attract SMEs as well as large enterprises.
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On the basis of vertical, the global zero trust security market has been divided banking, financial services, and insurance, IT telecom, government defense, energy power, healthcare, retail e-commerce, and others. The BFSI vertical is expected to register the highest CAGR during the forecast period due to advanced features such as ‘least-privilege access’ provided by zero trust security and also these firms are investing in cyber solutions to keep their network secure.
By region, the global zero trust security market has been segmented into North America, Europe, Asia-Pacific, the Middle East Africa, and South America.
By region, the global zero trust security market has been segmented into North America, Europe, Asia-Pacific, the Middle East Africa, and South America. North America is expected to be the largest market due to the presence of a large number of zero-trust security vendors in the region and the need of large enterprises as well as SMEs for a solution that offers an effective authentication process.
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The Key Players in the Global Zero Trust Security Market are Cyxtera Technologies (US), Illumio (US), Symantec Corporation (US), OKTa (US), Cloudflare (US), Check Point Software Technologies (Israel), Pulse Secure (US), Palo Alto Networks, Inc. (US), Cisco Systems, Inc (US), IBM Corporation (US), Akamai Technologies (US), Google (US), Forcepoint (US), Centrify (US) and Sophos Group PLC (UK).