PUBLISHER: The Business Research Company | PRODUCT CODE: 1464225
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464225
Zero Trust Architecture (ZTA) is a cybersecurity strategy that operates under the assumption that no connection, user, or asset is inherently trustworthy until thoroughly verified. The primary objective of this approach is to minimize potential attack surfaces and decrease vulnerability to cyber threats by consistently validating identities and access rights across the entire digital ecosystem. The essence of ZTA lies in its continuous verification processes, ensuring that security measures are upheld throughout the digital infrastructure.
The primary components of the zero-trust architecture encompass both solutions and services. Solutions denote a uniform blend of one or more solutes dissolved in a solvent. The scope of application spans across organizations of varying sizes, including small and medium-sized enterprises (SMEs) as well as large enterprises, with deployment options such as cloud and on-premises. These solutions find utility in network security, data security, endpoint security, cloud security, and application security. They cater to diverse industries such as banking, financial services, and insurance (BFSI), government and defense, information technology and IT-enabled services, healthcare, retail and e-commerce, energy and utilities, among others.
The zero trust architecture market research report is one of a series of new reports from The Business Research Company that provides zero trust architecture market statistics, including zero trust architecture industry global market size, regional shares, competitors with zero trust architecture market share, detailed zero trust architecture market segments, market trends, and opportunities, and any further data you may need to thrive in the zero trust architecture industry. This zero trust architecture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The zero trust architecture market size has grown rapidly in recent years. It will grow from $18.54 billion in 2023 to $21.84 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The expansion observed in the historical period can be credited to factors such as data breaches and cyber attacks, the surge in digital transformation initiatives, the need for remote access, the adoption of zero-trust frameworks and standards, and compliance obligations related to regulations.
The zero trust architecture market size is expected to see rapid growth in the next few years. It will grow to $41.62 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The anticipated growth in the forecast period can be ascribed to the increased adoption and migration to cloud services, the emphasis on managing risks associated with vendors and supply chains, the evolving security threat landscape, heightened focus on internal and external threat intelligence, and enhanced incident response preparedness. Noteworthy trends expected in the forecast period encompass the emergence of Zero Trust as a Service (ZTAAS), the application of zero trust principles in DevSecOps practices, the implementation of zero trust for remote workforce security, the convergence with identity-centric security measures, and the integration of zero trust analytics and behavioral monitoring.
The escalating threats in the realm of cybersecurity are anticipated to drive the growth of the zero-trust architecture market. Cybersecurity involves safeguarding computer systems, networks, devices, and data from unauthorized access, cyber-attacks, theft, and other malicious activities. Zero-trust architecture, as a proactive and comprehensive approach, enhances cybersecurity resilience by focusing on identity verification, access control, and risk management. This strategy effectively mitigates cyber threats, ensuring protection against unauthorized access and exploitation of critical assets and data. For instance, the Australian Cyber Security Centre reported a 38% increase in global cyber-attacks in 2022 compared to 2021. In the same year, 83% of organizations experienced multiple data breaches, with 60% resulting in price increases passed on to customers. The surge in cybersecurity threats is a key driver for the zero-trust architecture market.
Major players in the zero-trust architecture market are concentrating on developing innovative products featuring advanced technological solutions. An example is the updated version of Zero Trust Security, which aids companies in creating implementation plans and zero-trust strategies based on principles such as initial, progressive, ideal, and conventional zero-trust architectures. In April 2023, the Cybersecurity and Infrastructure Security Agency, a US-based government agency, released an updated Zero Trust Maturity Model Version 2. This model provides transparency to assist in the creation, implementation, maintenance, and modification of security policies. It serves as a valuable tool for companies transitioning to a zero-trust architecture, offering guidance and benchmarks to evaluate progress and plan necessary expenditures for a more secure environment.
In September 2023, Check Point Software Technologies Ltd., a US-based cybersecurity solutions provider, acquired Perimeter 81 Ltd. for approximately $490 million. This strategic acquisition is intended to reinforce Check Point's position in the Secure Access Service Edge (SASE) market, ensuring fast and secure access to remote sites, data centers, and the internet. Perimeter 81 Ltd., an Israeli-based cloud and network security company, specializes in delivering a converged network and security platform that connects users to corporate resources. Its technology features capabilities such as zero-trust access and full mesh connectivity, aligning with the evolving landscape of cybersecurity.
Major companies operating in the zero trust architecture market report are Google LLC, Microsoft Corporation, International Business Machines Corporation, Cisco Systems Inc, Broadcom Inc, VMware Inc, Palo Alto Networks Inc, Fortinet Inc, Akamai Technologies Inc, Citrix Systems Inc., Check Point Software Technologies Ltd, Trellix, Proofpoint Inc, CrowdStrike Holdings Inc, Netskope Inc, Okta Inc, Zscaler Inc, Cloudflare Inc, Cyxtera Technologies Inc, Forcepoint LLC, Ivanti, Nord Security, Musarubra US LLC (Skyhigh Security), Versa Networks Inc, Perimeter 81 Ltd, Appgate Inc, Axis Cyber Security Ltd, Twingate Inc, Zero Networks, GoodAccess, Cloud Software Group Inc
North America was the largest region in the zero trust architecture market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the zero trust architecture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the zero trust architecture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The zero trust architecture market consists of revenues earned by entities by providing services such as network security services, cloud security services, endpoint security services, data security services and user and device management services. The market value includes the value of related goods sold by the service provider or included within the service offering. The zero trust architecture market also includes sales of identity and authentication devices, network access control (nac) devices, endpoint management devices, and encryption devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Zero Trust Architecture Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on zero trust architecture market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for zero trust architecture ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The zero trust architecture market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.