The "Zero Trust Security Market by Offering, Security type, Authentication Type (Single Factor, Multi Factor), Vertical (BFSI, Government &Defense, IT & ITES, Healthcare, Retail E-commerce, En...
Autore: Business Wire
DUBLIN: The "Zero Trust Security Market by Offering, Security type, Authentication Type (Single Factor, Multi Factor), Vertical (BFSI, Government &Defense, IT & ITES, Healthcare, Retail E-commerce, Energy and Utilities) and Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The Zero Trust security market size is projected to grow from USD 30.9 billion in 2024 to USD 66.6 billion by 2029 at a compound annual growth rate (CAGR) of 16.6%
The study encompasses a thorough competitive analysis of key market players, offering insights into their company profiles, product and business offerings, recent developments, and key market strategies.
As businesses shift to remote work and cloud technologies, cyber attacks become more sophisticated, and the market for zero-trust security is expanding quickly.
The fundamental tenet of zero trust security is never trust, always check, which implies that every person and device, regardless of location, must authenticate themselves before gaining access to any information. Numerous factors, including an increase in cyberattacks, a rise in cloud computing usage, an increase in remote labor, and more stringent data protection regulations, have made this strategy less visible. Zero trust is increasingly becoming essential for businesses to protect their sensitive data and systems in this digital age because hackers are always coming up with new methods.
By Security Type, the Application Security will grow at a higher CAGR during the forecast period.
Zero trust security solutions are changing the traditional security model from a perimeter based to a risk based model that increases application security. These solutions have several key components to achieve this new security posture. For example, continuous authentication ensures only authorized users and trusted devices have access to applications regardless of location or network and reduces the risk of unauthorized breaches. Micro-segmentation creates isolated zones around applications and holds lateral movement and unauthorized access.
Least privilege access reduces the attack surface and limits damage in case of a breach. The real-time monitoring driven by behavioral analytics and machine learning detects abnormal activity and responds to potential threats. Zero Trust Network Access (ZTNA) is the foundation, allowing secure access to applications from outside the corporate network. The Identity and Access Management (IAM), encryption, application centric security, API security, user behavior analytics and compliance auditing all contribute to the comprehensive and adaptive security framework of zero trust solutions.
By Offering, the Solution segment accounts for the largest market size during the forecast period.
The zero trust market has become a must have defense against today's dynamic cyber threats. This new approach uses the never trust, always verify principle instead of the traditional perimeter based model. This reduces the risk of unauthorized access and data breaches making it a must have for businesses of all sizes. Advanced authentication, continuous monitoring and strict access controls are all part of zero trust, only authorized users wherever they are in the world can access critical resources.
Zero trust solutions provide full network activity visibility so you can detect threats in real-time and respond to breaches quickly. By reducing false positives and automating security processes this proactive approach improves your business efficiency as well as your security posture. Zero trust is a resilient and flexible response to the ever changing cyber threat landscape, protecting your digital assets and keeping stakeholders trust in an increasingly connected world.
By region, North America will have the largest market size during the forecast period.
The North American market, Includes US and Canada, is characterized by a high concentration of security vendors and a rise in cyberattacks. This sector may maintain a leading position in the zero trust security market for some time to come because of its early adoption of cutting edge technologies. The increase in sophisticated cyberattacks is one of the key factors driving businesses to implement zero trust security solutions.
The increasing usage of IoT, digital payments, cloud-based apps, and OT, as well as industries including banking, finance, government, and healthcare, the region is now more susceptible to cyberattacks. This was demonstrated in the January MailChimp attack, where hackers gained unauthorized access and affected a significant number of users by using social engineering techniques. These kinds of incidents emphasize how important it is to have a zero-trust policy, which may effectively stop escalations and restrict lateral movement within networks.
The report provides insights on the following pointers:
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 360 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $30.9 Billion |
| Forecasted Market Value (USD) by 2029 | $66.6 Billion |
| Compound Annual Growth Rate | 16.6% |
| Regions Covered | Global |
Companies Featured
For more information about this report visit https://www.researchandmarkets.com/r/my6r7x
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Fonte: Business Wire