Global Zero Trust Security Market to Reach Value of USD 58.15 Billion by 2030 | Skyquest Technology

Global zero trust security market is segmented on the basis of authentication type, deployment, and end-user. The market can be segmented based on authentication type into multi-factor and single-factor authentication. Based on end-user, the market is segmented into BFSI, healthcare, IT and telecom. Based on the deployment model, the market is segmented into cloud-based and on-premises- Industry forecast 2023-2030

Westford,USA, Jan. 15, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest report, a primary catalyst propelling the global zero trust security market is the relentless surge in cyber threats and data breaches, inflicting substantial financial losses upon organizations worldwide. The proliferation of endpoint devices and the widespread adoption of cloud technology have significantly expanded the attack surface, providing cybercriminals with increased opportunities to infiltrate and access sensitive information.

Browse in-depth TOC on the "Zero Trust Security Market"         

  • Pages - 157
  • Tables -  86
  • Figures – 76

The increasing activities of cybercriminals have demonstrated increasing proficiency in infiltrating and maneuvering within traditional security perimeters, are anticipated to be a key driver for the widespread adoption of zero-trust security practices in the global zero trust security market.

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Report Scope & Segmentation:                                        

Market Size in 2022USD 21.2 Billion
2030 Value ProjectionUSD 58.15 Billion
Forecast Period2023-2030
Segments Covered
  • Authentication Type
  • End-User
  • Deployment
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Prominent Players in GlobalZero Trust Security Market

  • Cisco Systems, Inc.
  • Akamai Technologies, Inc.
  • Palo Alto Networks, Inc.
  • Symantec Corporation
  • Microsoft Corporation
  • Okta, Inc.
  • Proofpoint, Inc.
  • Centrify Corporation
  • Fortinet, Inc.
  • Google LLC
  • VMware, Inc.
  • Illumio, Inc.
  • CyberArk Software Ltd.
  • Broadcom Inc.
  • Check Point Software Technologies Ltd.
  • Pulse Secure, LLC
  • Sophos Group plc
  • SailPoint Technologies Holdings, Inc.
  • F5 Networks, Inc.
  • Trend Micro, Inc.

Multi-Factor Authentication Segment to Rise Significantly with Growing Demand for Secure Authentication Methods

The dominating segment in the global zero trust security market is multi-factor authentication. This is due to the increasing demand for more secure authentication methods to protect sensitive data and resources. With the rise in cyber threats and data breaches, organizations are looking for more robust authentication methods that provide a higher level of security than single-factor authentication.

The market in North America has asserted its dominance in the zero trust security market, primarily driven by the presence of major industry players and a heightened awareness of the imperative need for robust security measures.

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Single-Factor Authentication Segment to Dominate Market due to Reduced User Inconvenience

Single-factor authentication continues to experience rapid growth in the global zero trust security market, particularly within smaller organizations or those not handling susceptible data or resources. Furthermore, some enterprises opt for single-factor authentication for specific low-risk applications or resources, as it helps reduce user inconvenience and streamlines the authentication procedure.

Regional market inAsia-Pacific is poised to experience the most rapid growth in the global zero trust security market, propelled by several key factors. The region is witnessing a significant uptick in the adoption of cloud technology and a proliferation of endpoint devices.

A comprehensive analysis of major global zero trust security market players has been conducted recently. The report encompasses various aspects of the market, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.

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Key Developments in Global Zero Trust Security Market

  • In 2023, VMware made a significant announcement regarding the introduction of VMware Anywhere Workspace, a novel zero trust security solution. This innovative offering is designed to deliver secure access to applications and data, regardless of the device, location, or network, underlining VMware's commitment to bolstering cyber security measures in an increasingly connected world. In 2023, F5 Networks unveiled its acquisition of Volterra, a renowned cloud-native networking and security solutions provider. This acquisition was pivotal in enhancing F5 Networks' Secure Access Service Edge (SASE) platform and strengthening its zero trust security capabilities.

Key Questions Answered in the Global Zero Trust Security Market Report

  • What specific growth drivers are projected to impact the market during the forecast period?
  • List the top companies in the market and explain how they have achieved their positions of influence.
  • In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?

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