Zero Trust Security Market Outlook, Size And Forecast To 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Zero Trust Security Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The zero trust security market size has grown rapidly in recent years. It will grow from $33.18 billion in 2023 to $39.26 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to cyber threat landscape, legacy security challenges, digital transformation, remote workforce trend, data privacy concerns..

The zero trust security market size is expected to see rapid growth in the next few years. It will grow to $80.58 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to threat intelligence integration, user-centric security approach, data volume growth, business continuity focus, evolving threat landscape.. Major trends in the forecast period include adaptive security posture, remote workforce security, shift to cloud and edge computing, industry collaboration and education, endpoint security enhancement..

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Key Market Players:

Major companies operating in the zero trust security market report are Cisco Systems Inc., Palo Alto Networks, Check Point Software Technologies, Trend Micro Inc., International Business Machines Corporation, Symantec Corporation, FireEye Inc., McAfee Corporation, Forcepoint, Microsoft Corporation, Vmware Inc., Fortinet, Okta Inc., Centrify Corporation, Cyxtera Technologies Inc., Google Inc., Sophos Group PLC., Cloudflare Inc., SonicWall, Pulse Secure LLC, Perimeter 81, CrowdStrike, Akamai, Rubrik, Cohesity, GoodAccess, Zscaler Internet Access, Forescout Continuum, Delinea Secret Server, HPE Security

Market Drivers:

The increasing rate of data breaches and cyber threat are expected to propel the growth of the zero-trust security market. Cyber data breaches are identified as gaining unauthorized access to a computer system or network to obtain private, sensitive, or confidential personal and financial information from customers or users. Due to numerous planned breaches, there is a need to enforce zero trust security solutions to get flexible and adaptive network security infrastructure that removes trust from network access and necessitates additional user verification. For instance, in July 2021, according to the Cost of a Data Breach Report 2021 published by IBM, a US-based technology corporation, the data breach costs increased significantly year over year, rising from $3.86 million in 2020 to $4.24 million in 2021. Furthermore, according to the UK government's 2022 cyber security breaches survey, in 2021, 39% of UK businesses reported a cyber-attack in which phishing attempts were the most common threat vector, accounting for 83%. Therefore, the rise in data breaches and cyber threats will drive the growth of the "zero trust" security market.

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https://www.thebusinessresearchcompany.com/report/zero-trust-security-global-market-report

The zero trust security market covered in this report is segmented -

1) By Solution Type: Data Security, Network Security, API Security, Security Analytics, Endpoint Security, Security Orchestration Automation And Response, Security Policy Management , Other Solutions
2) By Authentication: Single Factor Authentication, Multi Factor Authentication
3) By Deployement: On Premises, Cloud
4) By Organization Size: SMEs, Large Enterprise
5) By Application Area: IT and Telecom, BFSI, Healthcare, Retail, Other Application Area

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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