Zero Trust Security Market Soars: Expected to Reach US$ 118.7 Billion by 2032, Fueled by a Robust 15.1% CAGR

The zero trust security market is set to reach a valuation of US$ 29 Billion by 2022 and US$ 118.7 Billion by 2032. The market is expected to progress at a CAGR of 15.1% from 2022 to 2032.

The purpose of zero trust security is to provide protection against data breaches from all directions, specifically from within organizations, i.e., through browsers, email, VPN connections and other means. The zero trust security term suggests that nothing should be trusted and always be verified.

With this concept, several technologies and best practises are adopted. The security platform is based on the principles of verify explicitly, continuous monitoring and validation, use least privileged access, device access control, micro-segmentation, preventing lateral movement, and multi-factor authentication (MFA).

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Key Takeaways: Zero Trust Security Market

• By solution, the standalone software segment had the largest shares in 2021 with a value of US$ 25,432.0 Mn. Services are estimated to be the most in-demand service for the forecast period 2022-2032 which is estimated to grow with a CAGR of 15.1%.
• By deployment mode, cloud based holds the largest market share for 2021 and CAGR of 16.2% is expected to be witnessed in forecast period.
• By authentication type, multi factor authentication holds largest market share for 2021 and the highest CAGR of 16.8% is expected to be witnessed during forecast period.
• By enterprise size, large enterprise had the largest market share in 2021 and SMEs will witness the fastest growth with a CAGR of 18.9%.
• By industry, BFSI had the largest market share for 2021 and the highest CAGR of 22.3% is expected to be witnessed from the healthcare industry for the forecast period.
• North America had the largest market share in 2021 and the fastest growing market for Zero Trust Security Platform is estimated to be the South Asia and Pacific region for the forecast period 2022-2032.

Rise in Cyberattacks within the Organisation

In recent times, the cyberattacks within the organisations has increased zero trust security provide to secure data in and outside the organisation, by continuously monitoring and validation, micro segmentation, preventing lateral movement such features makes the framework unique from other traditional security.

Leading Key Players:

• Check Point
• Cisco
• IBM
• Palo Alto Networks
• Okta
• Ping Identity
• Thales
• Cloudflare
• Akamai Technologies
• Avast Business
• Citrix
• NetMotion
• Zscaler
• Proofpoint
• Varonis
• ExtraHop

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More valuable insights on Zero Trust Security Platform:

In this report by Future Market Insights, zero trust security market has been segmented into four sections, by solution, integrated zero trust security platform, standalone software (next generation firewall, identity & access management, data loss prevention, others), services (professional services (security consulting, integration & implementation, support & maintenance) and managed services), deployment mode (cloud-based and on-premises), authentication type (single authentication, multi authentication), enterprise size (small and medium enterprises (SMEs), and large enterprises), industry (BFSI, IT & telecom, retail, healthcare, government & defence, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the zero trust security platform demand outlook.

Zero Trust Security Market Segmentation:

By Solution:

• Integrated Zero Trust Security Platform
• Standalone Software
  • Next-Generation Firewall
  • Identity & Access Management
  • Data Loss Prevention
  • Others
• Services
  • Professional Services
    • Security Consulting
    • Integration & Implementation
    • Support & Maintenance
  • Managed Services

By Deployment:

• Cloud-Based
• On-premises

By Authentication Type:

• Single Authentication
• Multi Authentication

By Enterprise Size:

• Small and Mid-Sized Enterprises (SMEs)
• Large Enterprises

By Industry:

• BFSI
• Retail and eCommerce
• Healthcare
• IT & Telecom
• Government and Defense
• Others

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