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

Publisher: MarketsandMarkets
Publication Date: February, 2021
Technology & Telecommunication / Telecommunication Equipment
Pages: 366
Delivery Format: PDF

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

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In the post-COVID-19 scenario, 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 market growth is driven by various factors, such as increasing cyber-threats, growing mandates from government & compliance regulations, and modernization in networking infrastructure through variety of end-devices, have contributed considerable share in the Zero Trust Security ecosystem. By deployment, the cloud segment is estimated to hold a larger market size than the on-premises segment in 2020. Unlike traditional on-premises deployment mode, cloud-based zero trust security solutions provide with a cost effective approach for the enterprises across various industry verticals to enhance security. Pricing is one of the major differentiating factors in the adoption of cloud-based security solution over on-premises security solutions. Growing virtualization across industries and adoption of cloud computing is promoting the demand for cloud-based zero trust security solutions in various countries. Moreover, cloud-based deployment of zero trust security solutions can help organizations to reduce costs associated with expensive hardware equipment for storage, power, cooling as well as lowers the IT personnel required to monitor the network further eliminating the IT maintenance costs. Cloud deployments are suitable for small and medium businesses that usually have a limited budget allocated for securing critical assets from cyberattacks. By authentication type, multi-factor authentication is expected to register a higher growth rate than the single-factor authentication segment during the forecast period. Multi-factor authentication (MFA) is becoming one of the most effective type of identity verification and authentication method that requires a person, software or a machine to present multiple identifiers for identity verification. The various categories of multiple identifiers include something that they know such as a password or PIN, something that they have such as passport, tokens, access-card or software certificate, and something they are such as biometric data, fingerprints or facial geometry and recognition. Most commonly used MFA identifiers are user passwords/PINs, cryptographic hardware security tokens, smartcards, software-based certificates, and biometrics that may include verification of any individual through retina scans, fingerprint scans, facial recognition and voice recognition. The Asia Pacific market is expected to register the highest growth rate during the forecast period. APAC comprises of few largest economies in the world such as China, Singapore, Japan, Australia. The increasing economic importance of these countries has prevailed vast amount of data transmitted across networks that are prone to security breaches. The threat landscape is driven by necessary measures required to aid support to several industry verticals at an alarming rate. Increased number of alerts and threats combined with comparatively shortage in staffs is resulting in 50% of threats going undetected. Zero Trust Security solutions is expected to surge the efficiency of security solutions by preventing low-level incidents, considering each user as a hostile network. Owing to the high digital connectivity, contrasted with the low cybersecurity awareness, growing cross-border data transfers, and weak regulations, Asia Pacific region is anticipated to boost the demand for zero trust security solution over the forecast period. • By Company Type: Tier 1 – 30%, Tier 2 – 45%, and Tier 3 – 25% • By Designation: C-level – 35%, D-level – 35%, and Others – 30% • By Region: North America – 45%, Europe – 25%, Asia Pacific – 25%, RoW – 5% Major vendors offering Zero Trust Security solutions include Cisco Systems Inc. (US), Akamai Technologies (US), Palo Alto Networks (US), Okta Inc. (US), Check Point Software Technologies (US), Trend Micro Inc. (Japan), IBM Corporation (US), Symantec Corporation (US), FireEye Inc. (US), McAfee Corporation (US), Forcepoint (US), RSA Security (US), Centrify (US), Cyxtera Technologies (US), , Illumio (US), Sophos Group PLC (US), QNext Corporation (US), Google LLC (US), Microsoft Corporation (US), VMWare Inc. (US), Fortinet (US), Cloudflare Inc. (US), SonicWall (US), Varonis Systems (US), Pulse Secure (US) and ON2IT (Netherland). The study includes an in-depth competitive analysis of these key market players along with their profiles, recent developments, and key market strategies. Research Coverage The market study covers the Zero Trust Security market size across segments. It aims at estimating the market size and the growth potential of this market across different segments by solution type, deployment type, authentication type, organization size, vertical, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies. Key Benefits of Buying the Report The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall Zero Trust Security market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

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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

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