Zero Trust Security Market Giants Spending Is Going To Boom | Fortinet, VMware, Microsoft

The Zero Trust Security Market study describes how the technology industry is evolving and how major and emerging players in the industry are responding to long term opportunities and short-term challenges they face. One major attraction about Zero Trust Security Industry is its growth rate. Many major technology players - including Palo Alto Networks Inc., Cisco Systems Inc., International Business Machines Corporation, Fortinet Inc., Citrix Systems Inc., Sophos Group plc, Check Point Software Technologies Ltd., VMware Inc., Microsoft Corporation, and Akamai Technologies Inc. etc have been looking into Zero Trust Security as a way to increase their market share and reach towards consumers.

Industries and key technological segments are evolving; navigate these changes with latest insights released on Zero Trust Security Market Study

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The Global Zero Trust Security Market is expected to register a CAGR of around 16% over the period of 2021-2027. The global zero trust security market is rising on account of the continuously increasing target-based cyber-attacks, the need to reduce business and organizational risks and the digitalization of prominent industry verticals. Moreover, the advancing digital infrastructure in developing countries will also affect its market positively. "Zero Trust" is a security framework, it requires security configurations and status to be authenticated, approved, and continuously validated before all users, inside or outside the corporate network, are granted or retained access to applications and data. Moreover, the increasing losses due to cyber-attacks are one of the most prominent factors driving the adoption of zero trust security. For instance, according to Internet Crime Complaint Center (IC3), in 2018, the total financial loss due to cybercrime stood at around USD 2.7 Bn/year, which increased to more than USD 4 Bn/year in 2020.

Major Highlights of Zero Trust Security Market Report

1) Why this market research study would be beneficial?
- The study guides Zero Trust Security companies with strategic planning to ensure they realize and drive business value from their plans for growth strategy.

2) How scope of study is defined?
- The Zero Trust Security market is composed of different product/ service offering type, each with its own business models and technology. They include:

Deployment: Cloud, On-premises;
Solution Type: Data Security, Endpoint Security, API Security, Security Analytics, and Security Policy Management;

**Further breakdown / Market segmentation can be provided; subject to availability and feasibility of data.

3) Why Zero Trust Security Market would define new growth cycle ?
- Analysis says that Zero Trust Security Companies that have continues to invest in new products and services including via acquisitions have seen sustainable growth, whereas one with slower R&D investment growth have become stagnant. Technology companies with annual R&D growth over 20% have outperformed their peer group in revenue growth.

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Insights Presented in the Report

"Amongst security type, the endpoint security segment held a prominent share in the market in 2020"

Based on the security type, the market is divided into network security, data security, endpoint security, cloud security, and others. Among these, the endpoint security segment held a significant share of the global zero trust security market in 2020 and is expected to witness significant growth during the forecast period owing to the digital transformation of businesses, which has increased the usage of endpoint devices, such as mobiles, laptops, personal computers, and others. The endpoint acts as an entry point to the corporate network, creating an entry point that can be exploited by a malicious attacker. Hence, it is important to protect these endpoints to protect businesses from risky activities and malicious attacks.

"Amongst authentication type, multi-factor authentication accounted for a prominent share in the market in 2020"

Based on authentication type, the market is bifurcated into single-factor authentication and multi-factor authentication. Among these, the multi-factor authentication type accounted for a prominent share of the global zero trust security market in 2020 and is expected to witness influential growth during the forecast period as well. This is because multi-factor authentication is widely adopted throughout the industries due to the high level of security provided by multi-factor authentication. The multi-factor authentication is a key component of zero trust security for better security. While it can be useful for hackers to identify a single authorization factor, multiple layers of real-time access verification and monitoring are important for adhering to the zero trust security model.

"North America to witness significant growth during the forecast period"

North America held a prominent share of the market in 2020 and is expected to showcase a prominent growth rate during the forecast period. The growth of this market can be attributed to the presence of key market players in the region and the quick adoption of new technologies. The growing retail, banking and financial services, information and communication technology, and other industries are further contributing to the growth of the zero trust security market in the region. Moreover, the rising number of cyber attacks is further contributing to the growth of this market in the region. For instance, in 2020, the United States recorded nearly 7,90,000+ cyber complaints resulting in a loss of USD 4.2 Bn, but in 2021, the number of complaints increased to nearly 8,50,000 causing a loss of USD 6.9 Bn.

Research shows that Zero Trust Security companies have increased R&D spend and accelerated merger & acquisitions. To realize value they intend, companies like Palo Alto Networks Inc., Cisco Systems Inc., International Business Machines Corporation, Fortinet Inc., Citrix Systems Inc., Sophos Group plc, Check Point Software Technologies Ltd., VMware Inc., Microsoft Corporation, and Akamai Technologies Inc. etc need to continuously evaluate their governance, risks and control, infrastructure, and talent to aligned planned growth strategies with their operating business models.

To comprehend Zero Trust Security market dynamics, the market study is analysed across major geographical regions/country

• North America: United States, Canada, and Mexico
• South & Central America: Argentina, Chile, Brazil and Others
• Middle East & Africa: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.
• Europe: UK, France, Italy, Germany, Spain, BeNeLux, Russia, NORDIC Nations and Rest of Europe.
• Asia-Pacific: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia and Rest of APAC.

Important Years in Zero Trust Security Market Study Major trends of Zero Trust Security Market using final data for 2019 and previous years, as well as quarterly or annual reports for 2021. In general, Years considered in the study i.e., base year as 2021, Historical data considered as 2017-2021 and Forecast time frame is 2022-2027.

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The Zero Trust Security study is a perfectly designed with mix of both statistically relevant quantitative data from industry, coupled with insightful qualitative comment and analysis from Industry experts and consultants. To ascertain a deeper view; Zero Trust Security Market Size by key business segments and applications for each of above listed region/country is provided along with competitive landscape that includes Comparative Market Share Analysis by Players (M USD) (2019-2021E) and market concentration rate of Zero Trust Security Industry in 2022.

In-depth company profiles for 15+ Zero Trust Security leading and emerging players that covers 3-years financial history, swot analysis and other vital information like legal name, website, headquarter, % market share and position, distribution and marketing channels and latest developments.

Driving and maintaining growth continues to be a top-of mind issue for Boards, CXOs, and investors in the Technology industry. Zero Trust Security companies and the chain of services supporting them are facing profound business challenges majorly from three factors:

1. The explosive rate at which competitors and Zero Trust Security industry is growing.
2. The amount of growth that is driven by innovation in technologies, value propositions, products and services.
3. The speed at which innovations needs to be furnished in order to drive growth in Zero Trust Security Market.

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