The study categorizes the zero trust architecture market by segments - offering, organization size, deployment mode, vertical, and region.
Northbrook, IL 60062 -- (SBWIRE) -- 11/24/2023 -- The global Zero Trust Architecture Market size is projected to grow from USD 17.3 billion in 2023 to USD 38.5 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 17.3% during the forecast period, according to research report by MarketsandMarkets™.
The expansion of the zero trust architecture market is propelled by the evolving landscape of cyber threats, which demand more robust security measures to counter advanced malware and ransomware.
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Additionally, consolidating digital transformation and widespread cloud adoption drives the demand for zero trust architecture, ensuring continuous authentication and authorization to protect data and applications in interconnected IT environments. Furthermore, the rising emphasis on regulatory compliance intensifies the adoption of zero trust architecture, aligning with industry-specific regulations and enhancing visibility and control during audits. Moving from traditional perimeter security models to the zero trust architecture approach further contributes to the market's growth.
Based on the deployment mode, the cloud will grow at the highest CAGR during the forecasted period.
The exceptional scalability, agility, and cost-effectiveness of cloud-based solutions drive the exponential growth of cloud deployment in the zero trust architecture market. These solutions offer adaptability that seamlessly accommodates organizations of various sizes, from small businesses to large enterprises, making them versatile for entities experiencing expansion or fluctuating workloads. In addition, agility allows for swift deployment without significant hardware and software investments, a critical feature for organizations responding to emerging security threats and evolving business needs while maintaining robust security.
Moreover, cloud-based solutions are cost-effective, particularly for small and medium-sized businesses, as it eliminates the need for purchasing and maintaining hardware and software, reducing overall expenses. The increased adoption of cloud computing further fuels the demand for these solutions, as organizations transitioning to the cloud require tailored security measures for cloud-based data and applications. These solutions are purpose-built to secure assets during cloud migration, solidifying their role as a vital component in the continually evolving landscape of cybersecurity.
By offering, the solutions segment accounts for the highest market size during the forecast period.
The solution segment has the largest market size in the zero trust architecture due to its pivotal role in addressing the complexity. Zero trust architecture is a complex security framework necessitating diverse solutions for effective implementation and management. These solutions encompass identity and access management (IAM), micro-segmentation, network access control (NAC), and security analytics. As the adoption of zero trust accelerates, organizations increasingly recognize the need for a more comprehensive security strategy, boosting the demand for solutions. With various vendors offering various solutions, organizations can select options that align with the specific requirements and budgets. The need for customization further propels the demand for adaptable solutions, ensuring tailored security measures for each organization.
Moreover, the solutions' growth within the market is further spurred by the escalating sophistication of cyberattacks and the rising incidence of data breaches. Organizations are awakening to the realization that conventional security methods are insufficient in safeguarding them against the evolving threat landscape. Zero trust solutions, with their comprehensive security approach, empower organizations to shield their data and systems from various cyber threats, making them indispensable in modern cybersecurity.
By region, Asia Pacific will grow at the highest CAGR during the forecast period.
The Asia Pacific region is growing at the highest rate in the zero trust architecture market due to its rapid digital transformation, which has driven organizations to adopt technologies like cloud computing, IoT, and AI. While this transformation offers numerous opportunities, it has exposed these businesses to an escalating array of cyber threats, including ransomware attacks, insider threats, and supply chain vulnerabilities. Zero Trust Architecture is gaining prominence as a vital cybersecurity strategy. By implementing zero trust, organizations can fortify their defenses against cyberattacks and comply with the increasingly stringent government regulations in the region. This growing awareness highlights the need for comprehensive security solutions like zero trust to safeguard critical data and systems.
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Palo Alto Networks (US), VMware (US), Zscaler (US), Akamai (US), Microsoft (US), Cisco (US), IBM (US), Citrix (US), Check Point (US), Trellix (US), Forcepoint (US), CrowdStrike (US), Cloudflare (US), Fortinet (US), Google (US), Netskope (US), Perimeter 81 (US), Twingate (US), Appgate (US), Zero Networks (Israel), Versa Networks (US), Axis Security (US), Ivanti (US), NordLayer (US), and GoodAccess (Czech Republic) are the key players and other players in the zero-trust architecture market.
Key Dynamic Factors For Zero Trust Architecture Market:
Threat Landscape for Cybersecurity:
The adoption of Zero Trust Architecture is still being driven by the dynamic nature of cyber threats as well as the rising frequency and sophistication of cyberattacks. Organisations are using ZTA to strengthen their defences as they become aware of the shortcomings of conventional security techniques.
Trends in Remote Work:
The use of Zero Trust Architecture has accelerated due to the trend towards remote and distributed workforces. Employees are using a variety of devices and places to access company information, thus ongoing monitoring and verification are essential to preventing unwanted access.
Rethinking security postures has become necessary for organisations due to the growing deployment of cloud services and infrastructure. Zero Trust offers a foundation for protecting data and apps wherever they are, making it a good fit for cloud environments.
The Evolution of Identity and Access Management (IAM)
A key component of Zero Trust is IAM. The effectiveness of Zero Trust security models is enhanced by the inclusion of multi-factor authentication (MFA), improved authentication techniques, and ongoing user behaviour monitoring.
Adherence to Regulations:
Organisations are compelled to employ strong security measures in order to comply with regulatory regulations and compliance standards, such as GDPR and HIPAA. Because Zero Trust Architecture enforces stringent access controls and data protection, it is well-aligned with these compliance standards.
Innovations in Technology:
Zero Trust solutions are leveraging technological advancements like machine learning (ML) and artificial intelligence (AI) to improve threat detection and response capabilities. Real-time security measure adaptation relies heavily on automation.
Competitive and Segmentation Analysis:
Intense competition and a dynamic environment created by factors including evolving cybersecurity threats, the development of remote work, and increased cloud use characterise the Zero Trust Architecture (ZTA) market. Leading companies in this industry are always coming up with new ideas to meet the intricate security requirements of contemporary businesses. Established cybersecurity vendors, up-and-coming startups, and tech behemoths providing all-inclusive Zero Trust solutions make up the competitive scene. Businesses frequently set themselves apart by using cutting-edge technologies for improved threat detection and response, such as machine learning and artificial intelligence.
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