Westford USA, June 05, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects the Zero Trust Security Market to attain a value of USD 99.7 Billion by 2031, with a CAGR of 15.5% during the forecast period (2024-2031). Businesses are increasingly forming partnerships with cybersecurity vendors and managed security service providers (MSSPs) to properly implement zero-trust security. These partnerships provide resources and expertise to address the difficulties in securing the broader perimeter of security. The way organisations operate has radically altered due to the increasing usage of cloud computing, which offers flexibility, scalability, and cost-efficiency. The security perimeter was also widened since sensitive data and necessary applications were no longer limited to on-premises data centres.
Download a detailed overview:
https://www.skyquestt.com/sample-request/zero-trust-security-market
Browse in-depth TOC on the " Zero Trust Security Market "
- Pages - 197
- Tables - 119
- Figures – 77
Zero Trust Security Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $31.6 Billion |
| Estimated Value by 2031 | $99.7 Billion |
| Growth Rate | Poised to grow at a CAGR of 15.5% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Offering, Deployment, Authentication Type and End-User |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Embracing Cloud-Based Solutions and AI Integration |
| Key Market Opportunities | Expanding opportunities in zero trust solutions for IoT security |
| Key Market Drivers | Increasing Number of Cyber Threats and Data Breaches |
Multi-Factor Authentication Having Enhanced and Secured Verification Procedure Enables it to Dominate
The global market for zero trust security is dominated by multi-factor authentication (MFA), which offers increased security by demanding several verification procedures. Organizations choose MFA to secure user authentication and protect sensitive data, and this dominance is reinforced by reasons such growing cyber threats, regulatory compliance requirements, and the necessity for strong access control.
Demand for BFSI to Rise Quickly Owing to Growing Need for Secure Financial Transactions
As a result of its stringent regulatory demands and increased susceptibility to data breaches, the banking and financial industry heads the world market for zero trust security. There are several factors which necessitate these policies including safe financial transactions; safeguarding consumer information against theft or misuse; upholding financial regulations among others hence making it mandatory for BFSI companies to take up zero trust security measures aimed at mitigating cyber threats.
Increased Need for Zero Trust Security Solutions to Support the Dominance of North America
Due to the existence of significant market competitors and a high degree of awareness regarding the necessity of strong security measures, North America dominated the zero-trust security industry. The dominate principality of the area's development is The United States, with huge outlays in cybersecurity and novel solutions being its major concern; expectations are high that zero trust security solutions will remain most desirable within the region due to the Zero Trust Cybersecurity that the US has adopted.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/zero-trust-security-market
Zero Trust Security Market Insight
Drivers:
- Increasing Number of Cyber Threats and Data Breaches
- Decline of Perimeter Security Clearing the Path for Zero Trust Security
- Increasing Regulatory Compliance Requirements and Data Privacy Concerns
Restraints:
- Lack of Awareness Among Organizations
- Resistance to Change within an Organization
- Complex Implementation Process of ZTS Solutions
Prominent Players in Global Zero Trust Security Market
- Illumio, Inc. (US)
- Sophos Group plc (UK)
- Check Point Software Technologies Ltd. (Israel)
- Trend Micro, Inc. (Japan)
- CyberArk Software Ltd. (Israel)
- F5 Networks, Inc. (US)
- VMware, Inc. (US)
- Broadcom Inc. (US)
- Trend Micro, Inc. (Japan)
- Pulse Secure, LLC (US)
- SailPoint Technologies Holdings, Inc. (US)
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/zero-trust-security-market
Key Questions Answered in Global Zero Trust Security Market Report
- By 2031, how much is the global market for zero trust security likely to be worth, and what is the predicted compound annual growth rate (CAGR) for this market?
- What factors propel the dominance of the BFSI sector in the worldwide zero trust security market?
- What factors contribute to North America's market domination in zero trust security, and which nation is the primary force behind this expansion?
This report provides the following insights:
- Analysis of key drivers (Global zero trust security market is the increasing, proliferation of endpoint devices, growing need for robust security measures & authenticated and authorized users are granted access to sensitive information), restraints (Lack of awareness about the benefits & implementation of zero trust security solutions, complexity of implementing such solutions and need for continuous updates and maintenance of zero thrust security for smaller organizations with limited budgets), opportunities (To amplify IoT traffic & heightening cybersecurity concerns, zero trust enhances visibility into network activities and meticulously inspecting all network traffic), and challenges (Obtaining finance & proper funding to embrace zero-trust security solutions and finding qualified personnel to deploy effectively & maintain these measures) influencing the growth of zero trust security market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the zero-trust security market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the zero-trust security market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Related Reports:
Global Network Security Market
Global Managed Security Services Market
Global Application Security Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
