Zero-Trust Security Market Size Worth $65 Billion By 2030: IndustryARC

The Global Zero-Trust Security Market size is predicted to reach $65 billion by 2030, growing at a CAGR of 15.3% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. The growing adoption of bring-your-own-device (BYOD) and increased adoption of remote work are poised to propel the market growth, finds IndustryARC in its recent  report, titled “Zero-Trust Security Market Size, Share & Trends Analysis Report By Solutions Type (Data Security, Network Security, Endpoint Security, API Security, SOAR, Security Policy Management, Others), By Authentication Type (Multi-Factor Authentication, Single-Factor Authentication),  By Enterprise Size (Small & Medium-Sized Enterprises (SMEs), Large Enterprises), By Vertical (BFSI, Healthcare & Social Assistance, IT & Telecom, Manufacturing, Energy & Utilities, Government, Retail, Others), By Region and Segment Forecasts, 2023–2030”

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 Asia-Pacific Register Highest Growth:

Asia-Pacific is analysed to grow with the highest CAGR of 17.5% during the forecast period 2024-2030. The Zero-Trust Security industry in the Asia-Pacific region is expanding due to increasing digital transformation initiatives, increasing cyber threats, and the adoption of remote work practices have accelerated the demand for advanced security measures. Additionally, the rising number of small and medium-sized businesses in the region are recognizing the significance of Zero Trust to secure their operations. As a result, Asia-Pacific demonstrates the fastest adoption rate for Zero Trust Security solutions.

Zero-Trust Security Market 2023-2030: Scope of the Report

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Zero-Trust Security Market Report – Key Takeaways:

• End Point Dominate the Market

The End Point segment had the largest market share of 20.5% in 2023 owing to its critical role in safeguarding devices accessing networks. With the proliferation of remote work and IoT devices, securing endpoints is paramount. Zero Trust principles provide stringent identity verification, device health checks, and continuous monitoring, mitigating vulnerabilities.

• Healthcare to Register Highest Growth

Healthcare is analyzed to grow with the highest CAGR of 17.9% during the forecast period 2024-2030. This is owing to the increasing digitization of patient records, medical devices, and telehealth services. The need to protect sensitive patient data from evolving cyber threats has driven healthcare organizations to embrace Zero Trust principles, implementing robust identity management, network segmentation, and continuous monitoring solutions.  

• North America is Leading the Market

North America region held a major market share of 35% in 2023. The strong presence in this region can be attributed to its strong technological infrastructure, high cybersecurity awareness, and the presence of numerous key cybersecurity solution providers. The United States, in particular, has been an early adopter of advanced security measures like Zero Trust due to the prevalence of cyber threats and stringent data protection regulations.

• Burgeoning Opportunities in Edge Security Solutions

With the adoption of edge computing and Internet of Things (IoT) devices grows, the perimeter for potential cyber threats expands. Edge Security Solutions offer the capability to secure devices and data at the network’s edge, aligning with Zero Trust principles. Manufacturers can tap into this opportunity by developing solutions that provide robust identity verification, continuous monitoring, and adaptive controls for devices operating at the edge, contributing to a more comprehensive and adaptable security posture for organizations.

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 Key Opportunity Analysis:

Emergence of Zero Trust Consulting Services

Organizations often lack in-house expertise to implement this intricate security model effectively. Manufacturers can offer specialized consulting services, guiding clients in designing, deploying, and managing Zero Trust strategies tailored to their unique needs. By becoming trusted advisors, manufacturers not only help clients navigate the complexities of implementation but also establish long-term partnerships. This provides manufacturers with a recurring revenue stream and strengthens their market presence, addressing the growing demand for expert assistance in adopting robust Zero Trust Security measures.

The Expansion of Product Portfolios

Manufacturers can introduce new solutions catering to various aspects of the Zero Trust framework, such as identity and access management, network segmentation, and behavioral analytics. Offering a comprehensive suite of products enables organizations to adopt a holistic Zero Trust approach seamlessly. Manufacturers can meet diverse client needs, capture market share, and position themselves as one-stop destinations for Zero Trust Security, thereby capitalizing on the rising demand for multifaceted security solutions in an evolving threat landscape.

High Demand for Cloud-Native Security

With the rapid migration to cloud environments, manufacturers can develop solutions specifically designed to secure cloud-native applications and data. These solutions ensure data protection and access controls in dynamic cloud settings. By offering robust cloud-native security tools, manufacturers enable organizations to embrace Zero Trust principles while capitalizing on the benefits of cloud computing. This addresses a critical need in the modern cybersecurity landscape, positioning manufacturers as leaders in providing adaptable and comprehensive security measures for the evolving digital infrastructure.

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The Report also Covers the Following Areas:

• Zero-Trust Security Market Size and Forecast
• Zero-Trust Security Market Trends
• Zero-Trust Security Market Analysis by Solutions Type

Zero-Trust Security Market 2023-2030: Key Highlights

• CAGR of the market during the forecast period 2023-2030
• Value Chain analysis of key stake holders
• Detailed analysis of market drivers and opportunities during the forecast period
• Zero-Trust Security Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Zero-Trust Security Market

Covid and Ukrainian Crisis Impact:

• The COVID-19 pandemic reshaped the Zero Trust Security market by rapidly accelerating remote work adoption. Traditional security models struggled to adapt to the distributed workforce, leading to a swift uptake of Zero Trust principles. Identity-centric security measures, such as multi-factor authentication and strict access controls, gained prominence. Organizations urgently adopted Zero Trust solutions to fortify remote access, ensuring data protection and secure connections for remote employees.
• The Ukraine Crisis injected heightened cybersecurity concerns, emphasizing the need for adaptable security frameworks. Organizations globally have turned to Zero Trust Security to address evolving threats, including potential state-sponsored attacks. The crisis catalyzed a deeper commitment to continuous monitoring, risk assessment, and real-time response strategies. This bolstered demand for sophisticated Zero Trust solutions that could effectively manage dynamic threats and safeguard sensitive data, ensuring resilience against geopolitical uncertainties.

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List of Key Market Players in Zero-Trust Security Market:

The Global Zero-Trust Security Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

• Palo Alto Networks, Inc.
• Cisco Systems, Inc.,
• International Business Machines Corporation
• Google LLC.
• Microsoft Corporation
• Akamai Technologies, Inc.
• Trend Micro Inc.
• Cyxtera Technologies, Inc.
• VMware, Inc.
• FireEye, Inc..
• Check Point Software Technologies Ltd.
• Okta, Inc.
• Cloudflare, Inc.
• Forcepoint Ltd.
• SonicWall Inc.

Related Reports:

Cyber Security Market – The Cyber Security Market is projected to grow at a CAGR of 8.5% from 2023 to 2030.  The rising adopting advanced cybersecurity solution to enhance protection against cybercrime. The rising need for solutions ranging from antivirus software, unified threat management system, next-generation firewalls, DNS filtering, malware protection and threat intelligence will drive the demand for cyber security market

Managed Security Services Market – The Managed Security Services Market is projected to grow at a CAGR of 17.1% from 2023 to 2030. The  Emerging trends like Bring your own device (BYOD) and Work from home, governmental mandates or regulations for upgradation of organizational security standards, adoption of cloud services and others can be considered essential in driving the market growth.

Cognitive Security Market – The Cognitive Security Market is projected to grow at a CAGR of 15.2% from 2023 to 2030. The growth is majorly attributed to the increasing investments on security applications in order to protect against cyber threats drives the market growth. Furthermore, increase in adoption of advanced technologies such as IoT, AI create opportunities for cognitive security market growth.

Health IT Security Market – The Health IT Security Market is projected to grow at a CAGR of 13.4% from 2023 to 2030. The rise in cases of cyber-attacks in the healthcare industry and increase in the implementation of cloud computing systems in the healthcare sector is driving the market.

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