In the post-COVID-19
scenario, the report "Zero Trust Security Market by Solution Type (Data Security, Endpoint Security, API Security,
Security Analytics, Security Policy Management), Deployment Type,
Authentication Type, Organization Size, Vertical, and Region - Global Forecast
to 2026", published by
MarketsandMarkets™, the
global Zero Trust Security Market size is projected to grow from USD 19.6
billion in 2020 to USD 51.6 billion by 2026, recording a compound annual growth
rate (CAGR) of 17.4% from 2020 to 2026.
The major growth drivers
for the market include the rising need for compliance for networks, user
devices, and data from unauthorized access and to get a centralize view on
threats..
Browse and
in-depth TOC on “Zero Trust
Security Market”
478 –
Tables
44
- Figures
385
- Pages
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Based on solution
type, the data security segment is estimated to lead the market in 2020.
Data
security solutions are responsible for securing business database and
information such as customer details, financial information, and employee
database as well as other key business data of any organizations. Huge amount
of data is generated everyday across organizations in various industry
verticals and effective management and storage of business data becomes
critical for the IT and data security professionals. An organizations database
comprises of sensitive data such as Personally Identifiable Information (PII),
Personal Health Information (PHI), Intellectual Property (IP), as well as
Payment Card and Financial Information. Databases often become a target for
cybercriminals and victim of cyberattacks causing data breaches and loss of
business and personal information. Zero trust data security solutions fortify
an organization’s data security by confining the risks from user privileges and
access restricting the lateral movement of threats within a company’s
infrastructure.
Based on Vertical, IT &
ITES is estimated to lead the market in 2020.
The
IT and ITES vertical is growing at an unprecedented rate in North America,
Europe, and APAC. However, it is one of the major targets for cyberattacks as
IT and ITES companies are dealing with storage and transfer of large volumes of
critical business data and the employee data, such as names, addresses, and
financial transactions. The rise in penetration of cloud computing, IoT
devices, BYOD, and mobile and web applications has widened the surface of
cyberattacks in the IT and ITES vertical. Moreover, companies controlling and
operating critical infrastructure used to communicate and store sensitive data
prone to complex attacks, such as DDoS attacks and ransomware attacks. These
attacks would pose a high risk for privacy of confidential data.
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North America is expected to hold the largest market share during the forecast
period.
Most of the security
vendors are based in North America, which makes the region to be among the
early adopter of new and advanced security technologies. As a result, North
America is expected to dominate the Zero Trust Security Market during the
forecast period. Moreover, increase in the sophisticated cyber-attacks is
anticipated to drive the implementation of zero trust security in several
verticals such as banking, finance, government, and healthcare sectors. With
the widespread use of digital payments, cloud based applications, IoT, security
ecosystem has become more complex. Besides, various SMBs are welcoming
disruptive work culture through services such as BYOD and work-from-home,
exposing the enterprise data prone to number of cyber-attacks.
Market Players
The major vendors covered
in the Zero Trust Security Market include
Cisco Systems Inc. (US), Akamai Technologies, Inc. (US), Palo Alto Networks,
Inc. (US), Symantec Corporation (US), Okta, Inc. (US), Forcepoint, LLC (US),
Centrify Corporation (US), Cyxtera Technologies (US), Illumio (US), Sophos
Group Plc (UK), Google LLC (US), Microsoft, Inc. (US), VMware Inc. (US), Trend
Micro Incorporated (Japan), Cloudflare (US), IBM Corporation (US), Fortinet
(US), Check Point Software Technologies Ltd. (US), Pulse Secure, LLC (US), and
ON2IT (Netherlands).
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