Dublin, Sept. 06, 2024 (GLOBE NEWSWIRE) -- The "Zero Trust Security Market by Offering, Security type, Authentication Type (Single Factor, Multi Factor), Vertical (BFSI, Government &Defense, IT & ITES, Healthcare, Retail E-commerce, Energy and Utilities) and Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The urgency of cybersecurity in the modern digital landscape is driving the Zero Trust security market size from USD 30.9 billion in 2024 to an anticipated USD 66.6 billion by 2029, with a notable CAGR of 16.6%. Growing concerns for cyber threats, increased remote work, and robust cloud computing adoption are key factors contributing to this expansion.
Across industries, from BFSI to government and healthcare, the need for rigorous security infrastructures able to adapt to sophisticated attack methods is paramount, prompting businesses to adopt the Zero Trust security philosophy which dictates 'never trust, always verify.'
Focused on Innovation and Stringent Security
Among security types, Application Security is poised to see the fastest growth rate during the forecast period. Zero Trust's transformational approach secures applications by consistently authenticating and validating user access, employing micro-segmentation, least privilege strategies, and real-time behavioral analytics. With enhanced focus on Zero Trust Network Access (ZTNA) and components such as IAM, encryption, and API security, businesses are embracing these solutions to ensure adaptive, comprehensive security frameworks.
Solutions Dominating Industry Offerings
The Solution segment will account for the largest share of the market throughout the forecast period. Incorporating the principle of 'never trust, always verify' and advanced authentication measures, zero trust solutions ensure that only authorized parties can access crucial resources. Enhanced visibility into network activities coupled with real-time threat detection underscores the resilience of Zero Trust, thereby fostering trust and protecting the digital assets in the interwoven tapestry of global connectivity.
North America Leads in Market Size
Expected to maintain its market dominance, North America's extensive adoption of advanced technologies, presence of numerous security vendors, and escalating cyber threat incidents are vital contributors to its significant market share. With industries in the region facing increasing vulnerability due to pervasive IoT applications, cloud-based solutions, and digital transactions, zero trust frameworks are gaining ground as an efficient countermeasure to sophisticated threat vectors.
In-Depth Industry Insights to Navigate the Evolving Security Terrain
Key market players operating in the Zero Trust security market have been rigorously analyzed to deliver a conclusive standpoint on the industry landscape. Evaluations of company strategies, product developments, and market positioning provide stakeholders with comprehensive insights to effectively navigate market dynamics. The analytic prowess displayed in the study underscores vital areas such as market drivers, restraints, opportunities, and competitive assessments, equipping industry players with strategic intelligence to propel growth and innovation.
The relentless shift in the cybersecurity paradigm towards Zero Trust architecture signifies a proactive response by businesses to fortify digital infrastructures and maintain operational integrity in the face of burgeoning cyber risks. As this market surges forth, stakeholders are strategically poised to capitalize on the wealth of security and efficiency benefits that Zero Trust solutions offer.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 360 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $30.9 Billion |
| Forecasted Market Value (USD) by 2029 | $66.6 Billion |
| Compound Annual Growth Rate | 16.6% |
| Regions Covered | Global |
Companies Featured
- Palo Alto Networks
- Vmware
- Zscaler
- Akamai
- Microsoft
- Cisco
- IBM
- Citrix
- Check Point
- Trellix
- Forcepoint
- Crowdstrike
- Cloudflare
- Fortinet
- Qnext
- Illumio
- On2It
- Perimeter 81
- Threatlocker
- Twingate
- Appgate
- Zero Networks
- Zentera
- Xage
- Skyhigh Security
For more information about this report visit https://www.researchandmarkets.com/r/ojj544
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