Zero-Trust Security Market Outlook: Size, Share, Trends & Growth Analysis (2024-2029)
The market report presents a thorough analysis segmented by Application (Access Control/Data Access Control, API Security, User Behavior Analytics, Security Analytics, Others); by Security (Network Security, Application Security, Cloud Security, Data Security, Endpoint Security and IoT Security); by Authentication (Single Factor Authentication, Multiple-Factor-Authentication); by End User (Government And Defense, Healthcare, Retail And E-commerce, Banking, Financial Services, and Insurance, IT & ITES, Others); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).
Outlook
- The zero-trust security market is estimated to be at USD 36,556.67 Mn in 2024 and is anticipated to reach USD 79,460.11 Mn in 2029.
- The zero trust security market is registering a CAGR of 16.8% during the forecast period of 2024-2029.
- The zero-trust security market is rapidly expanding, driven by the growing need for advanced cybersecurity solutions in an increasingly complex digital landscape. As cyber threats continue to evolve and organizations embrace remote work and digital transformation, the adoption of Zero Trust principles is becoming essential.
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Ecosystem
- The global zero-trust security industry participants are constantly developing strategies to preserve a competitive advantage.
- These companies are leading the development and deployment of zero trust solutions across various sectors. They primarily use acquisitions, partnerships, and technological launches.
- Several important entities in the zero-trust security market include Cisco Systems, Inc.; International Business Machines Corp.; Palo Alto Networks, Inc.; Microsoft Corp.; Crowdstrike Holdings, Inc.; and others.
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Findings
| Attributes | Values |
|---|---|
| Historical Period | 2018-2022 |
| Base Year | 2023 |
| Forecast Period | 2024-2029 |
| Market Size (2024) | USD 36,556.67 Mn |
| Market Size (2029) | USD 79,460.11 Mn |
| Growth Rate | 16.8% CAGR from 2024 to 2029 |
| Key Segments | Application (Access Control/ Data Access Control, API Security, User Behavior Analytics, Security Analytics, Other Applications); Security (Network Security, Application Security, Cloud Security, Data Security, Endpoint Security and IoT Security); Authentication (Single Factor Authentication, Multiple-Factor-Authentication); End User (Government And Defense, Healthcare, Retail And E-commerce, Banking, Financial Services, and Insurance, IT & ITES, Others(Energy and Utilities)); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa) |
| Key Vendors | Cisco Systems, Inc.; International Business Machines Corp.; Palo Alto Networks, Inc.; Microsoft Corp.; Crowdstrike Holdings, Inc. |
| Key Countries | The US; Canada; Mexico; Brazil; Argentina; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Israel; UAE; Saudi Arabia; Egypt; South Africa |
| Largest Market | North America |
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Trends
- Adoption of Zero Trust Network Access (ZTNA): Zero Trust Network Access (ZTNA) is rapidly gaining traction as organizations move from traditional VPNs to more secure, user-specific access models.
- Integration with Cloud Security: The shift to cloud services has heightened the need for zero trust frameworks to secure data and applications across multiple cloud environments. Cloud security providers are increasingly incorporating Zero Trust principles into their offerings. For instance, in September 2023, Amazon Web Services (AWS) introduced a Zero Trust security model for its cloud infrastructure, enhancing customer data protection.
- Emphasis on Identity and Access Management (IAM): Identity and Access Management (IAM) is a critical component of zero trust security, ensuring that only authenticated and authorized users can access resources. In August 2023, Okta, an identity management provider, launched a new Zero Trust IAM solution, which saw rapid adoption across the financial services sector.
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Catalysts
- Demand for Secure Digital Transformation: The increasing frequency and sophistication of cyberattacks, including ransomware, phishing, and insider threats, are driving the adoption of zero trust security.
- Rising Cybersecurity Threats: Governments and regulatory bodies are gradually recognizing the potential of blockchain and cryptocurrencies, leading to more favorable regulations. This regulatory support is encouraging the growth of Web 3.0. In February 2024, the European Union introduced a comprehensive legal framework for blockchain-based applications, promoting innovation while ensuring consumer protection.
- Increase in Regulatory Compliance Mandates: Heightened regulatory requirements push organizations to adopt zero-trust security frameworks. Compliance with data protection regulations like GDPR, HIPAA, and CCPA is increasingly dependent on implementing zero-trust principles. In 2023, European financial institutions faced stricter guidelines that necessitated the adoption of zero-trust architectures, driving market demand.
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Restraints
- Complexity of Implementation: Implementing Zero Trust Security can be complex and resource-intensive, especially for large organizations with legacy systems. The integration of various technologies, such as IAM, ZTNA, and micro-segmentation, requires significant expertise and time.
- High Initial Costs: The initial investment required for zero trust security solutions creates challenges, including hardware, software, and training, that are prohibitive for small and medium-sized enterprises (SMEs).
- Integration with Legacy Systems: Many organizations struggle to integrate Zero Trust Security with their legacy systems, which may not be compatible with modern security protocols. This integration challenge delays implementation and increases costs. In September 2023, ISACA found that 55% of enterprises encountered significant difficulties integrating Zero Trust with legacy IT infrastructure.
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Table of Contents
| 1.       Introduction 1.1.    Research Methodology 1.2.    Scope of the Study 2.       Market Overview / Executive Summary 2.1.    Global Zero Trust Security Market (2018 – 2022) 2.2.    Global Zero Trust Security Market (2023 – 2029) 3.       Market Segmentation 3.1.    Global Zero Trust Security Market by Application 3.1.1. Access Control/ Data Access Control 3.1.2. API Security 3.1.3. User Behavior Analytics 3.1.4. Security Analytics 3.1.5. Other Applications 3.2.    Global Zero Trust Security Market by Security 3.2.1. Network Security 3.2.2. Application Security 3.2.3. Cloud Security 3.2.4. Data Security 3.2.5. Endpoint Security and IoT Security 3.3.    Global Zero Trust Security Market by Authentication 3.3.1. Single Factor Authentication 3.3.2. Multiple-Factor-Authentication 3.4.    Global Zero Trust Security Market by End User 3.4.1. Government And Defense 3.4.2. Healthcare 3.4.3. Retail And E-commerce 3.4.4. Banking, Financial Services, and Insurance 3.4.5. IT & ITES 3.4.6. Others 4.       Regional Segmentation 4.1.    North America 4.1.1. The US 4.1.2. Canada 4.1.3. Mexico 4.2.    South America 4.2.1. Brazil 4.2.2. Argentina 4.2.3. Colombia 4.2.4. Chile 4.2.5. Rest of South America 4.3.    Asia Pacific 4.3.1. China 4.3.2. India 4.3.3. Japan 4.3.4. South Korea 4.3.5. Rest of Asia Pacific 4.4.    Europe 4.4.1. The UK 4.4.2. Germany 4.4.3. Italy 4.4.4. France 4.4.5. Spain 4.4.6. Rest of Europe 4.5.    The Middle East 4.5.1. Turkey 4.5.2. UAE 4.5.3. Saudi Arabia 4.5.4. Rest of the Middle East 4.6.    Africa 4.6.1. Egypt 4.6.2. South Africa 4.6.3. Rest of Africa 5.       Value Chain Analysis of the Global Zero Trust Security Market 6.       Porter Five Forces Analysis 6.1.    Threats of New Entrants 6.2.    Threats of Substitutes 6.3.    Bargaining Power of Buyers 6.4.    Bargaining Power of Suppliers 6.5.    Competition in the Industry 7.       Trends, Drivers and Challenges Analysis 7.1.    Market Trends 7.1.1.    Market Trend 1 7.1.2.    Market Trend 2 7.1.3.    Market Trend 3 7.2.    Market Drivers 7.2.1.    Market Driver 1 7.2.2.    Market Driver 2 7.2.3.    Market Driver 3 7.3.    Market Challenges 7.3.1.    Market Challenge 1 7.3.2.    Market Challenge 2 7.3.3.    Market Challenge 3 8.       Opportunities Analysis 8.1.    Market Opportunity 1 8.2.    Market Opportunity 2 8.3.    Market Opportunity 3 9.       Competitive Landscape 9.1.    Cisco Systems, Inc. 9.2.    International Business Machines Corp. 9.3.    Palo Alto Networks, Inc. 9.4.    Microsoft Corp. 9.5.    Crowdstrike Holdings, Inc. 9.6.    Company 6 9.7.    Company 7 9.8.    Company 8 9.9.    Company 9 9.10.  Company 10 |
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Zero Trust Security Market – FAQs
1. What is the current size of the zero-trust security market?
Ans. In 2024, the zero trust security market size is $36,556.67 Mn.
2. Who are the major vendors in the zero-trust security market?
Ans. The major vendors in the zero-trust security market are Cisco Systems, Inc.; International Business Machines Corp.; Palo Alto Networks, Inc.; Microsoft Corp.; Crowdstrike Holdings, Inc.
3. Which segments are covered under the zero trust security market segments analysis?
Ans. The zero trust security market report offers in-depth insights into Application, Security, Authentication, End User, and Geography.