Zero Trust Security Market to Grow at a CAGR of 18.5% to Reach USD 126.02 Billion by 2031

Allied Market Research published a new report, titled, "Zero Trust Security Market to Grow at a CAGR of 18.5% to Reach USD 126.02 Billion by 2031." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Ease of accessing the internet and the introduction of lowly prized smartphones has prompted organizations to effectively execute zero trust security solutions driving the global Zero Trust Security Market. Strict execution of zero trust security solutions during the COVID-19 pandemic made it possible for various firms to effectively handle security issues. North America contributed toward the highest market share in 2021.

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Based on the component, the solution segment contributed the largest market share in 2021, accounting for nearly two-thirds of the overall share of the global zero trust security market. Moreover, this segment is predicted to retain its dominant status during the forecast time span. However, the services segment is expected to register the highest CAGR of 19.8% during the forecast timeline.

Based on the deployment model, the on-premise segment held the largest share in 2021, contributing more than half of the overall share of the global zero trust security market. Moreover, this segment is expected to contribute the highest market share by 2031. However, the cloud segment is also expected to record the fastest growth with a CAGR of 19.2% during the forecast period.

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Based on region, North America contributed towards the highest market share in 2021, accounting for nearly two-fifths of the global zero trust security market. The region is predicted to contribute majorly toward the global market share in 2031. Moreover, the Asia-Pacific zero trust security market is anticipated to register the highest CAGR of 20.0% during the forecast timespan. The research also analyzes regions including Europe and LAMEA.

Leading players of the global zero trust security industry analyzed in the research include Cisco Systems Inc., Akamai Technologies Inc., IBM, ZScaler, Symantec Corp., VMware, Inc., FireEye, Inc., SonicWall, Microsoft Corporation, Cloudflare, Google, Cyxtera Technologies, SonicWall, Palo Alto Networks, Check Point Software Technologies, Trend Micro, Inc., FireEye, Inc., and McAfee Corp.

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Covid-19 Scenario

• The COVID-19 pandemic led to the expansion of the global zero trust security market due to the implementation of zero trust security solutions and the offering of secured information access while performing remote functions.

• Strict execution of zero trust security solutions during the COVID-19 pandemic made it possible for various firms to effectively handle security issues.

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