NEWARK, Del, Nov. 10, 2022 (GLOBE NEWSWIRE) -- According to the Zero Trust Security Industry report, market is set to reach the valuation ~US$ 29,006.2 Mn by the end of the year 2022. The purpose of the zero trust security is to provide protection against data breaches from all directions, specifically from within organizations, i.e., through browsers, email, VPN connections and other means. The zero trust security term suggests that nothing should be trusted and always be verified.
With this concept, several technologies and best practises are adopted. The security platform is based on the principles of verify explicitly, continuous monitoring and validation, use least privileged access, device access control, micro-segmentation, preventing lateral movement, and multi-factor authentication (MFA).
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Key Takeaways: Zero Trust Security Market
- By solution, the standalone software segment had the largest shares in 2021 with a value of ~US$ 25,432.0 Mn. Services are estimated to be the most in-demand service for the forecast period 2022-2032 which is estimated to grow with a CAGR of 15.1%.
- By deployment mode, cloud based holds the largest market share for 2021 and CAGR of 16.2% is expected to be witnessed in forecast period.
- By authentication type, multi factor authentication holds largest market share for 2021 and the highest CAGR of 16.8% is expected to be witnessed during forecast period.
- By enterprise size, large enterprise had the largest market share in 2021 and SMEs will witness the fastest growth with a CAGR of 18.9%.
- By industry, BFSI had the largest market share for 2021 and the highest CAGR of 22.3% is expected to be witnessed from the healthcare industry for the forecast period.
- North America had the largest market share in 2021 and the fastest growing market for Zero Trust Security Platform is estimated to be the South Asia and Pacific region for the forecast period 2022-2032.
According to FMI Analyst, “Zero Trust Security have great potential in various fields as the platform helps to prevent data loss from within the systems. They are available with many solutions such as identity security, data security, and many more, which can be deployed in a cloud, whereas traditional security platforms involve perimeter security models and can only be deployed on-premises, which also helps the end users to prioritise the product easily.”
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Rise in Cyberattacks within the Organisation
In recent times, the cyberattacks within the organisations has increased zero trust security provide to secure data in and outside the organisation, by continuously monitoring and validation, micro segmentation, preventing lateral movement such features makes the framework unique from other traditional security.
More valuable insights on Zero Trust Security Platform
In this report by Future Market Insights, zero trust security market has been segmented into four sections, by solution, integrated zero trust security platform, standalone software (next generation firewall, identity & access management, data loss prevention, others), services (professional services (security consulting, integration & implementation, support & maintenance) and managed services), deployment mode (cloud-based and on-premises), authentication type (single authentication, multi authentication), enterprise size (small and medium enterprises (SMEs), and large enterprises), industry (BFSI, IT & telecom, retail, healthcare, government & defence, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the zero trust security platform demand outlook.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Solution Innovation / Development Trends
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