Zero Trust Security Market Global Trends, Share, Growth, Opportunity, and Forecast, 2031

According to the report published by Allied Market Research, the global zero trust security market accrued earnings worth $23.61 billion in 2021, and is predicted to hit $126.02 billion by 2031, registering a CAGR of 18.5% from 2022 to 2031.

The market research study provides a detailed analysis of fluctuating market trends, top-most segments, value chain analysis, major investment business scenarios, regional space, and competitive landscape.

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The study is a key information source for giant players, entrepreneurs, shareholders, and owners in generating new strategies for the future and taking steps to improve their market position. The report displays an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly evolving industry.

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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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.

Drivers:
1. Escalating need for aiding secured enterprise mobility practices in organizations.

2. Ease of accessing the internet and the introduction of lowly prized smartphones have prompted organizations to effectively execute zero trust security solutions.

3. Rise in internet traffic has resulted in a surge in cyber-attacks on organizations. This has resulted in huge demand for zero trust security solutions.

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Opportunities:
1. A prominent increment in security breaches targeting business applications.

2. Surge in malware and phishing threats in organizations
Massive popularity of cloud-based zero-trust security services.

The global zero trust security market report presents a comprehensive segmentation analysis based on component, deployment model, enterprise size, authentication, industry vertical, and region. It offers a granular look into each segment and sub-segment through detailed tables and figures, enabling readers to grasp prevailing trends and actionable insights. This analysis serves as a valuable resource for organizations, investors, and entrepreneurs aiming to identify high-growth opportunities in the years ahead.

Component Analysis
In 2021, the solution segment held the lion's share of the market, contributing nearly two-thirds of the total global market. It is projected to retain its leading position throughout the forecast period. On the other hand, the services segment is expected to witness the fastest growth, registering a robust CAGR of 19.8% from 2022 to 2031.

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Deployment Model Insights
When segmented by deployment model, the on-premise segment dominated the market in 2021 with over half of the total share. This segment is anticipated to remain the leading deployment type through 2031. However, the cloud segment is forecast to grow at the fastest pace, with a CAGR of 19.2% during the same period.

Enterprise Size Dynamics
By enterprise size, large enterprises accounted for more than three-fifths of the total market share in 2021 and are expected to uphold their dominance moving forward. Nevertheless, small and medium-sized enterprises (SMEs) are set to experience the highest growth, with a projected CAGR of approximately 19.6% over the forecast period.

Regional Outlook
Geographically, North America led the market in 2021, holding nearly 40% of the global share. The region is poised to continue its significant contribution by 2031. Meanwhile, the Asia-Pacific region is projected to be the fastest-growing, expanding at a remarkable CAGR of 20.0%. Other regions analyzed in the report include Europe and LAMEA.

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Key Market Players:
Prominent players profiled in the zero trust security market include:

Cisco Systems Inc.

Akamai Technologies Inc.

IBM

ZScaler

Symantec Corp.

VMware, Inc.

FireEye, Inc.

SonicWall

Microsoft Corporation

Cloudflare

Google

Cyxtera Technologies

Palo Alto Networks

Check Point Software Technologies

Trend Micro, Inc.

McAfee Corp.

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