Emphasis on Security Type (Network Security, Data Security, Endpoint Security, Cloud Security, and Others); Authentication Type (Single-factor Authentication and Multi-factor Authentication); Deployment (On-premises and Cloud); Organization Size (Large Enterprises and SMEs); Industry (Information and Communication Technology, Banking and Financial Services, Retail, Healthcare, and Others); and Region/Country
The Global Zero Trust Security Market is expected to register a CAGR of around 16% over the period of 2021-2027. The global zero trust security market is rising on account of the continuously increasing target-based cyber-attacks, the need to reduce business and organizational risks and the digitalization of prominent industry verticals. Moreover, the advancing digital infrastructure in developing countries will also affect its market positively. “Zero Trust” is a security framework, it requires security configurations and status to be authenticated, approved, and continuously validated before all users, inside or outside the corporate network, are granted or retained access to applications and data. Moreover, the increasing losses due to cyber-attacks are one of the most prominent factors driving the adoption of zero trust security. For instance, according to Internet Crime Complaint Center (IC3), in 2018, the total financial loss due to cybercrime stood at around USD 2.7 Bn/year, which increased to more than USD 4 Bn/year in 2020.
Palo Alto Networks Inc., Cisco Systems Inc., International Business Machines Corporation, Fortinet Inc., Citrix Systems Inc., Sophos Group plc, Check Point Software Technologies Ltd., VMware Inc., Microsoft Corporation, and Akamai Technologies Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst security type, the endpoint security segment held a prominent share in the market in 2020”
Based on the security type, the market is divided into network security, data security, endpoint security, cloud security, and others. Among these, the endpoint security segment held a significant share of the global zero trust security market in 2020 and is expected to witness significant growth during the forecast period owing to the digital transformation of businesses, which has increased the usage of endpoint devices, such as mobiles, laptops, personal computers, and others. The endpoint acts as an entry point to the corporate network, creating an entry point that can be exploited by a malicious attacker. Hence, it is important to protect these endpoints to protect businesses from risky activities and malicious attacks.
“Amongst authentication type, multi-factor authentication accounted for a prominent share in the market in 2020”
Based on authentication type, the market is bifurcated into single-factor authentication and multi-factor authentication. Among these, the multi-factor authentication type accounted for a prominent share of the global zero trust security market in 2020 and is expected to witness influential growth during the forecast period as well. This is because multi-factor authentication is widely adopted throughout the industries due to the high level of security provided by multi-factor authentication. The multi-factor authentication is a key component of zero trust security for better security. While it can be useful for hackers to identify a single authorization factor, multiple layers of real-time access verification and monitoring are important for adhering to the zero trust security model.
“North America to witness significant growth during the forecast period”
North America held a prominent share of the market in 2020 and is expected to showcase a prominent growth rate during the forecast period. The growth of this market can be attributed to the presence of key market players in the region and the quick adoption of new technologies. The growing retail, banking and financial services, information and communication technology, and other industries are further contributing to the growth of the zero trust security market in the region. Moreover, the rising number of cyber attacks is further contributing to the growth of this market in the region. For instance, in 2020, the United States recorded nearly 7,90,000+ cyber complaints resulting in a loss of USD 4.2 Bn, but in 2021, the number of complaints increased to nearly 8,50,000 causing a loss of USD 6.9 Bn.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Zero Trust Security Market Covid-19 Impact
6. Zero Trust Security Market Revenue (usd Bn), 2019-2027f
7. Market Insights By Type 7 Market Insights By Security Type
8. Market Insights By Authentication Type
9. Market Insights By Region 9 Market Insights By Deployment
10. Market Insights By Organization Size
11. Market Insights By Industry
12. Market Insights By Region
13. Policy & Regulatory Framework 13 Zero Trust Security Market Dynamics
14. Zero Trust Security Market Opportunities
15. Zero Trust Security Market Trends
16. Legal & Regulatory Framework
17. Demand And Supply Side Analysis
18. Value Chain Analysis
19. Competitive Scenario
20. Company Profiled
21. Disclaimer
Research Methodology for the Zero Trust Security Market Analysis (2021-2027)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global zero trust security market were the three major steps undertaken to create and analyze the adoption of zero trust security in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global zero trust security market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the zero trust security market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the zero trust security market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as the security type, authentication type, deployment, organization size, and industry. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the zero trust security market. Further, we conducted factor analysis using dependent and independent variables such as various security type, authentication type, deployment, organization size, and industry of zero trust security. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the zero trust security market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global zero trust security market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global zero trust security market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the security type, authentication type, deployment, organization size, and industry in the global zero trust security market.
The main objective of the Global Zero Trust Security Market Study
The current & future market trends of the global zero trust security market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
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