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Zero Trust Security Market Report

RA05368

Zero Trust Security Market by Solution Type, Deployment, Authentication Type, Organization Size, Vertical Type, and Regional Analysis: Global Opportunity Analysis and Industry Forecast, 2020–2027

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Impact of covid-19 on Zero Trust Security Market

Global Zero Trust Security Market Analysis

The global zero trust security market is predicted to garner $66,741.3 million in the 2020–2027 timeframe, growing from $18,500.0 million in 2019 at a healthy CAGR of 17.6%.

Market Synopsis

The market growth is driven by growing mandates from government & compliance regulations along with modernization in networking infrastructure through which a variety of end-devices have contributed considerable in the zero-trust security ecosystem.

However, most of the small firms and start-ups face budgetary constraints as zero trust security requirements grow at a higher rate than planned and might be a restraining factor for the growth of the market. 

According to the regional analysis of the market, the Asia-Pacific zero trust security market is anticipated to grow at a CAGR of 18.3% by generating a revenue of $17,032.4 million during the review period.

Zero Trust Security Overview

Zero Trust is a shift of network defenses toward a more comprehensive IT security model that allows organizations to restrict access controls to networks, applications, and environment without sacrificing performance and user experience. It is a security concept centered on the belief that organizations should not automatically trust anything inside or outside its perimeters and instead must verify everything that is trying to connect to its systems before granting any kind of access. 

Impact Analysis of COVID-19 on the Global Zero Trust Security Market

The zero-trust security market has experienced considerable growth in the previous years and is estimated to grow with a notable rate in the forecast timeframe. With the widespread use of BYOD device, work from home trend, and internet penetration across the corners of the globe, individuals are progressively inclined towards the use of digital technologies such as cloud solutions, and this factor is driving the need for zero trust security measures for protection against cyber-attacks. There is immense growth in the need for endpoint and Virtual Private Network (VPN) security measures and rising demand for cyber hygiene practices to ensure robust security policies and practices amid COVID-19 pandemic. According to a study conducted by Research Dive, the global zero trust security market will witness a remarkable growth and is projected to continue its growth even after recovery from COVID-19. 

Increasing Threat of Cyber Attacks to Surge the Market Growth

Increasing activities of cybercriminals who are becoming successful at penetrating and moving laterally within the security perimeter of any digital device are expected to drive the implementation of zero-trust security because organizations that rely solely on on-premises firewalls and VPNs lack the visibility, solution integration, and agility to deliver timely, end to end security coverage. As a result, the rates of large-scale, multi-vector mega attacks are also growing and wreaking havoc on organizations and individuals worldwide.

Moreover, targeted attacks have witnessed a rise in recent years and infiltrating the target’s network infrastructure and simultaneously maintaining anonymity. The primary motive behind a targeted attack is to intrude on the targeted company or organization’s network and steal critical information.  

To know more about global application security market drivers, get in touch with our analysts here.

Budgetary Constraints Among Small Enterprises Might Restrain the Market Growth

The high cost of implementation of zero trust security is expected to restrain the growth of the market during the forecast period. Most of the small firms lack the budget and IT security expertise to adopt enhanced cyber-security solutions to safeguard their network and IT infrastructure from various cyber-attacks. The lack of capital funding and expertise can be the major restraining factors for some small and medium-sized companies that is necessary to embrace a zero trust security model.

Demand for Improved Visibility Among Enterprises is Creating Opportunities

As enterprises across numerous verticals are adopting IoT devices to improve operational efficiency and enhance communications has created immense IoT traffic and this factor is projected to rise in the coming years. The growing adoption of IoT devices has widened the scope of attacks for cybercriminals. Hence, a zero trust security model approach is projected to be adopted by organization who deal with critical business and personal information in the coming years, as it offers security professionals with improved visibility in terms of users accessing the network from various locations, accessed applications, and the exact time of access. 

To know more about global zero trust security market opportunities, get in touch with our analysts here.

Global Zero Trust Security Market, by Solution Type

Based on solution type, the market has been segmented into network security, data security, endpoint security, security orchestration automation and response, API security, security analytics, security policy management, and other sub-segments. Among these the endpoint security sub-segment is projected to generate the maximum revenue and data security sub-segment is predicted to show the fastest growth.

Global Zero Trust Security Market, by Solution Type

Source: Research Dive Analysis

Endpoint security services is expected to hold a significant share in the forecast period. The endpoint security segment was the highest contributor to the market, with $38,47.2 million in 2019, and is estimated to grow at a CAGR of 16.50% during the forecast period.

Advanced technologies such as the cloud, artificial intelligence (AI), the internet of things (IOT), connected devices, and others played a crucial role in developing the endpoint solutions. Accounting for the increasing product need across diverse industries, the key players are breaking the market coming up with advanced security solutions. 

Global Zero Trust Security Market, by Deployment Type

On the basis of deployment type, the market has been sub-segmented into on premises and cloud. Among the mentioned sub-segments, the on-premises sub-segment is predicted to show the fastest growth, whereas the cloud sub-segment is projected to garner a dominant market share.

Global Zero Trust Security Market, by Deployment Type

Source: Research Dive Analysis

The on-premises sub-segment of the global zero trust security market is projected to have the fastest growth and it is projected to surpass $29,914.1 million by 2027, with an increase from $10,511.4 million in 2019. Increase in concerns towards enhancing the internal processes & systems, security issues related to cloud deployment, and rise in demand for enterprise application software among various industry verticals are driving the demand for on-premise enterprise application software. Data privacy and security offered by on-premise enterprise application software is expected to provide various opportunities for growth of the market. 

     Global Zero Trust Security Market, by Organization Size:

Based on organization size the analysis has been divided into small & medium enterprises and large enterprises. Out of these, the large enterprises sub-segment is predicted to have the fastest growth.

Global Zero Trust Security Market, by Organization Size

Source: Research Dive Analysis

The large enterprise sub-segment of the global zero trust security market is predicted to have a rapid growth and it is expected to surpass $34,498.3 million by 2027, with an increase from $12,152.4 million in 2019. Major advantage that large-scale businesses have is the economy of scale. Vendors and suppliers are much more likely to provide discounts to companies that purchase in large quantities. In fact, the greater the quantity of purchase, the steeper the discount, and because large companies typically sell in high volume, they can undercut the prices that small businesses offer. By taking advantage of the economies of scale, large companies are able to reduce the cost of doing business, while also maximizing their profit margins.  

          Global Zero Trust Security Market, by Authentication type:

Based on authentication type the analysis has been divided into single-factor authentication and multi-factor authentication. Out of these, the multi-factor authentication is predicted to have the fastest growth.

Global Zero Trust Security Market, by Authentication type

Source: Research Dive Analysis

The multi-factor authentication type sub-segment of the global zero trust security market is predicted to have rapid growth and it is expected to surpass $38,629.0 million by 2027, with an increase from $9,781.4 million in 2019. The increase in the volume of online transactions is notably driving the multi-factor authentication market growth, although factors such as an increase in the cost of OTP tokens may impede market growth. Cyber-attacks are becoming more purposeful, sophisticated, and costly. Therefore, the usage of multi-factor authentication has been increasing gradually. The healthcare industry is also coming to terms with its exposure to cyber risks. The healthcare industry is in a time of transition and that includes IT infrastructure and cyber-security. The healthcare segment is expected to hold a prominent share of the market in the forecast period.

Global Zero Trust Security Market, by Vertical type:

Based on vertical type the analysis has been segmented into BFSI, IT & telecommunications, government and defense, healthcare, retail and others. Among the mentioned sub-segments, the retail sub-segment is predicted to have the fastest growth.

Global Zero Trust Security Market, by Vertical type

Source: Research Dive Analysis

The retail type sub-segment of the global zero trust security market is predicted to have a rapid growth and it is expected to surpass $15,642.9 million by 2027, with an increase from $4,520.8 million in 2019. The global retail industry is on an upward growth trend as sales continue to increase year after year. Despite the slight fall of retail sub-segment due to COVID-19, the growth rate is expected to experience a rapid growth in the upcoming years. Moreover, the expansion of sales and marketing channels such as social commerce and mobile are transforming the trends of the retail industry. With rising consumer demand and greater disposable income has given opportunity of retail sub-segment to grow and prosper. In addition to this, increase in the middle-class consumers and increase in the number of working women globally are driving the growth of the retail sub-segment.

Global Zero Trust Security Market, Regional Insights:

The application security market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global Zero Trust Security Market, Regional Insights

Source: Research Dive Analysis

The Market for Zero Trust Security in North America to be the Most Dominant

The North America zero trust security market accounted $5864.5 million in 2019 and is projected to register a revenue of $19,955.6 million by 2027. The extensive growth of the North America zero trust security market is mainly driven by the increasing penetration of mobile devices and cloud-based networking in the region. Increasing number of internet users, increasing adoption of IoT devices, and strict government & industry regulations for the security of business processes will accelerate the growth of the zero trust security market. Moreover, the strong presence of leading zero trust security providers and manufacturers is fueling the market growth across the globe will ultimately drive the demand in the zero trust security market across the region.

The Market for Zero Trust Security in Asia-Pacific to be the Fastest Growing

The share of Asia-Pacific zero trust security market is anticipated to grow at a CAGR of 18.3% by registering a revenue of $17,032.4 million by 2027. The growth shall be a result of increasing adoption of zero trust security solutions among SMEs and large businesses that will extensively raise cyber threats. For instance, Synerzip, LLC., an Agile software product development firm, in March 2019, announced that they are in collaboration with Amazon Web Services, Inc. (AWS), a subsidiary of Amazon, for the development of cloud-based security solution for 5000 Fortune companies. Such developments and initiatives will increase the market growth, which will eventually boost the Asia-Pacific zero trust security market in the upcoming years.

Competitive Scenario in the Global Zero Trust Security Market

Product launches and mergers & acquisitions are common strategies followed by major market players.

Competitive Scenario in the Global Zero Trust Security Market

Source: Research Dive Analysis

Some of the leading zero trust security market players are Mcafee corporation, IBM Corporation, Fortinet, Symantec Corporation, Fireeye Inc., Cisco Systems Inc., Akamai Technologies, Palo Alto Networks, Okta Inc., and Check Point Software Technologies

Porter’s Five Forces Analysis for the Global Zero Trust Security Market:

  • Bargaining Power of Suppliers: Zero trust security market contains huge concentration of distributors/suppliers and hence, their control is expected to be moderate, resulting in moderate bargaining power of dealers.
    Hence, the bargaining power of the supplier is moderate.
  • Bargaining Power of Buyers: Buyers will have a low bargaining power, significantly because of low players operating in the zero trust security market.
    Hence, the bargaining power of the buyer is low.
  • Threat of New Entrants: In the modern world, new entrants may face multiple new barriers, like legal and government policies.
    Hence, the threat of the new entrants is moderate.
  • Threat of Substitutes: There are fewer alternate products for zero trust security such as AppGateSDP and Pulse SDP. 
  • Thus, the threat of substitutes is low.
  • Competitive Rivalry in the Market: Robust presence of key players such as IBM corporation, Fortinet, Symantec Corporation, Fireeye Inc., and Cisco Systems Inc., is creating massive rivalry in the local as well as international market. Also, high spending on research, business expansion, and strategic tie-ups are some of the main factors rising competitive rivalry among the companies. Competitive rivalry in the market is high.

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2019

  Forecast Timeline for Market Projection

  2020-2027

  Geographical Scope

 North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Solution Type

  • Network Security
  • Data Security
  • Endpoint Security
  • Security Orchestration Automation and Response
  • API Security
  • Security Analytics
  • Security Policy Management
  • Others

  Segmentation by Authentication Type

  • Single-factor Authentication
  • Multi-factor Authentication

  Segmentation by Organization size

  • Small and medium enterprises
  • Large enterprises

  Segmentation by Vertical Type

  • BFSI
  • IT and Telecommunications
  • Government and Defense
  • Healthcare
  • Retail
  • Others

  Segmentation by Deployment type

  • Cloud
  • On-premise

  Key Companies Profiled

  • McAfee Corporation
  • IBM Corporation
  • Fortinet
  • Symantec Corporation
  • FireEye Inc.
  • Cisco Systems Inc.
  • Akamai Technologies
  • Palo Alto Networks
  • Okta Inc.
  • Check Point Software Technologies

Frequently Asked Questions
 

A. The global zero trust security market was valued at $18,500.0 million in 2019, and is projected to reach $66,741.3 million by 2027, at a CAGR of 17.6%.

A. Mcafee corporation, IBM corporation, and Fortinet are some of the key players in the global zero trust security market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Asia Pacific zero trust security market is anticipated to grow at 18.3% CAGR during the forecast period.

A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.

A. Symantec corporation, Fireeye inc., and Cisco Systems Inc are investing more on R&D activities for developing new products and technologies.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.Solution Type trends
2.3.Deployment Type trends
2.4.Authentication Type trend
2.5.Organization Type trends
2.6.End-User trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers

3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Pricing overview

3.8.1.By solution type 
3.8.2.By deployment type
3.8.3.By authentication type
3.8.4.By organization type 
3.8.5.By end user
3.8.6.By region

3.9.Market value chain analysis

3.9.1.Stress point analysis
3.9.2.Raw Authentication Type analysis
3.9.3.Manufacturing process
3.9.4.Distribution channel analysis
3.9.5.Operating vendors

3.9.5.1.Raw Authentication Type suppliers
3.9.5.2.Solution Type manufacturers
3.9.5.3.Solution Type distributors

3.10.Strategic overview

4.Zero Trust Security Market, by Solution Type 

4.1.Network Security

4.1.1.Market size and forecast, by region, 2019-2027
4.1.2.Comparative market share analysis, 2019-2027

4.2.Data Security

4.2.1.Market size and forecast, by region, 2019-2027
4.2.2.Comparative market share analysis, 2019-2027

4.3.Endpoint Security

4.3.1.Market size and forecast, by region, 2019-2027
4.3.2.Comparative market share analysis, 2019-2027

4.4.Security Orchestration Automation and Response

4.4.1.Market size and forecast, by region, 2019-2027
4.4.2.Comparative market share analysis, 2019-2027

4.5.API Security

4.5.1.Market size and forecast, by region, 2019-2027
4.5.2.Comparative market share analysis, 2019-2027

4.6.Security Analytics

4.6.1.Market size and forecast, by region, 2019-2027
4.6.2.Comparative market share analysis, 2019-2027

4.7.Security Policy Management

4.7.1.Market size and forecast, by region, 2019-2027
4.7.2.Comparative market share analysis, 2019-2027

4.8.Others

4.8.1.Market size and forecast, by region, 2019-2027
4.8.2.Comparative market share analysis, 2019-2027

5.Zero Trust Security Market, by Deployment Type 

5.1.On-Premise

5.1.1.Market size and forecast, by region, 2019-2027
5.1.2.Comparative market share analysis, 2019-2027

5.2.Cloud

5.2.1.Market size and forecast, by region, 2019-2027
5.2.2.Comparative market share analysis, 2019-2027

6.Zero Trust Security Market, by Authentication Type 

6.1.Single Factor Authentication

6.1.1.Market size and forecast, by region, 2019-2027
6.1.2.Comparative market share analysis, 2019-2027

6.2.Multi Factor Authentication

6.2.1.Market size and forecast, by region, 2019-2027
6.2.2.Comparative market share analysis, 2019-2027

7.Zero Trust Security Market, by Organization Type 

7.1.SME

7.1.1.Market size and forecast, by region, 2019-2027
7.1.2.Comparative market share analysis, 2019-2027

7.2.Large Organization

7.2.1.Market size and forecast, by region, 2019-2027
7.2.2.Comparative market share analysis, 2019-2027

8.Zero Trust Security Market, by End user

8.1.BFSI

8.1.1.Market size and forecast, by region, 2019-2027
8.1.2.Comparative market share analysis, 2019-2027

8.2.IT & Telecommunication

8.2.1.Market size and forecast, by region, 2019-2027
8.2.2.Comparative market share analysis, 2019-2027

8.3.Government & Defence

8.3.1.Market size and forecast, by region, 2019-2027
8.3.2.Comparative market share analysis, 2019-2027 

8.4.Healthcare

8.4.1.Market size and forecast, by region, 2019-2027
8.4.2.Comparative market share analysis, 2019-2027

8.5.Retail

8.5.1.Market size and forecast, by region, 2019-2027
8.5.2.Comparative market share analysis, 2019-2027

8.6.Other

8.6.1.Market size and forecast, by region, 2019-2027
8.6.2.Comparative market share analysis, 2019-2027

9.Zero Trust Security Market, by Region

9.1.North Region

9.1.1.Market size and forecast, by Solution Type, 2019-2027
9.1.2.Market size and forecast, by Deployment Type, 2019-2027
9.1.3.Market size and forecast, by Authentication Type, 2019-2027
9.1.4.Market size and forecast, by Organization Type, 2019-2027
9.1.5.Market size and forecast, by End user, 2019-2027
9.1.6.Market size and forecast, by country, 2019-2027
9.1.7.Comparative market share analysis, 2019-2027

9.1.8.U.S

9.1.8.1.Market size and forecast, by Solution Type, 2019-2027
9.1.8.2.Market size and forecast, by Deployment Type, 2019-2027
9.1.8.3.Market size and forecast, by Authentication Type, 2019-2027
9.1.8.4.Market size and forecast, by Organization Type, 2019-2027
9.1.8.5.Market size and forecast, by End user, 2019-2027

9.1.9.Canada

9.1.9.1.Market size and forecast, by Solution Type, 2019-2027
9.1.9.2.Market size and forecast, by Deployment Type, 2019-2027
9.1.9.3.Market size and forecast, by Authentication Type, 2019-2027
9.1.9.4.Market size and forecast, by Organization Type, 2019-2027
9.1.9.5.Market size and forecast, by End user, 2019-2027

9.1.10.Europe

9.1.10.1.Market size and forecast, by Solution Type, 2019-2027
9.1.10.2.Market size and forecast, by Deployment Type, 2019-2027
9.1.10.3.Market size and forecast, by Authentication Type, 2019-2027
9.1.10.4.Market size and forecast, by Organization Type, 2019-2027
9.1.10.5.Market size and forecast, by End user, 2019-2027

9.1.11.UK

9.1.11.1.Market size and forecast, by Solution Type, 2019-2027
9.1.11.2.Market size and forecast, by Deployment Type, 2019-2027
9.1.11.3.Market size and forecast, by Authentication Type, 2019-2027
9.1.11.4.Market size and forecast, by Organization Type, 2019-2027
9.1.11.5.Market size and forecast, by End user, 2019-2027

9.1.12.Germany

9.1.12.1.Market size and forecast, by Solution Type, 2019-2027
9.1.12.2.Market size and forecast, by Deployment Type, 2019-2027
9.1.12.3.Market size and forecast, by Authentication Type, 2019-2027
9.1.12.4.Market size and forecast, by Organization Type, 2019-2027
9.1.12.5.Market size and forecast, by End user, 2019-2027
9.1.12.6.Comparative market share analysis, 2019-2027

9.1.13.France

9.1.13.1.Market size and forecast, by Solution Type, 2019-2027
9.1.13.2.Market size and forecast, by Deployment Type, 2019-2027
9.1.13.3.Market size and forecast, by Authentication Type, 2019-2027
9.1.13.4.Market size and forecast, by Organization Type, 2019-2027
9.1.13.5.Market size and forecast, by End user, 2019-2027
9.1.13.6.Comparative market share analysis, 2019-2027

9.1.14.Italy

9.1.14.1.Market size and forecast, by Solution Type, 2019-2027
9.1.14.2.Market size and forecast, by Deployment Type, 2019-2027
9.1.14.3.Market size and forecast, by Authentication Type, 2019-2027
9.1.14.4.Market size and forecast, by Organization Type, 2019-2027
9.1.14.5.Market size and forecast, by End user, 2019-2027
9.1.14.6.Comparative market share analysis, 2019-2027

9.1.15.Rest of Europe

9.1.15.1.Market size and forecast, by Solution Type, 2019-2027
9.1.15.2.Market size and forecast, by Deployment Type, 2019-2027
9.1.15.3.Market size and forecast, by Authentication Type, 2019-2027
9.1.15.4.Market size and forecast, by Organization Type, 2019-2027
9.1.15.5.Market size and forecast, by End user, 2019-2027
9.1.15.6.Comparative market share analysis, 2019-2027

9.2.Asia-Pacific

9.2.1.Market size and forecast, by Solution Type, 2019-2027
9.2.2.Market size and forecast, by Deployment Type, 2019-2027
9.2.3.Market size and forecast, by Authentication Type, 2019-2027
9.2.4.Market size and forecast, by Organization Type, 2019-2027
9.2.5.Market size and forecast, by End user, 2019-2027
9.2.6.Market size and forecast, by country, 2019-2027
9.2.7.Comparative market share analysis, 2019-2027

9.2.8.China

9.2.8.1.Market size and forecast, by Solution Type, 2019-2027
9.2.8.2.Market size and forecast, by Deployment Type, 2019-2027
9.2.8.3.Market size and forecast, by Authentication Type, 2019-2027
9.2.8.4.Market size and forecast, by Organization Type, 2019-2027
9.2.8.5.Market size and forecast, by End user, 2019-2027
9.2.8.6.Comparative market share analysis, 2019-2027

9.2.9.India

9.2.9.1.Market size and forecast, by Solution Type, 2019-2027
9.2.9.2.Market size and forecast, by Deployment Type, 2019-2027
9.2.9.3.Market size and forecast, by Authentication Type, 2019-2027
9.2.9.4.Market size and forecast, by Organization Type, 2019-2027
9.2.9.5.Market size and forecast, by End user, 2019-2027
9.2.9.6.Comparative market share analysis, 2019-2027

9.2.10.Japan

9.2.10.1.Market size and forecast, by Solution Type, 2019-2027
9.2.10.2.Market size and forecast, by Deployment Type, 2019-2027
9.2.10.3.Market size and forecast, by Authentication Type, 2019-2027
9.2.10.4.Market size and forecast, by Organization Type, 2019-2027
9.2.10.5.Market size and forecast, by End user, 2019-2027
9.2.10.6.Comparative market share analysis, 2019-2027

9.2.11.South Korea

9.2.11.1.Market size and forecast, by Solution Type, 2019-2027
9.2.11.2.Market size and forecast, by Deployment Type, 2019-2027
9.2.11.3.Market size and forecast, by Authentication Type, 2019-2027
9.2.11.4.Market size and forecast, by Organization Type, 2019-2027
9.2.11.5.Market size and forecast, by End user, 2019-2027
9.2.11.6.Comparative market share analysis, 2019-2027

9.2.12.Australia

9.2.12.1.Market size and forecast, by Solution Type, 2019-2027
9.2.12.2.Market size and forecast, by Deployment Type, 2019-2027
9.2.12.3.Market size and forecast, by Authentication Type, 2019-2027
9.2.12.4.Market size and forecast, by Organization Type, 2019-2027
9.2.12.5.Market size and forecast, by End user, 2019-2027
9.2.12.6.Comparative market share analysis, 2019-2027

9.2.13.Rest of Asia Pacific

9.2.13.1.Market size and forecast, by Solution Type, 2019-2027
9.2.13.2.Market size and forecast, by Deployment Type, 2019-2027
9.2.13.3.Market size and forecast, by Authentication Type, 2019-2027
9.2.13.4.Market size and forecast, by Organization Type, 2019-2027
9.2.13.5.Market size and forecast, by End user, 2019-2027
9.2.13.6.Comparative market share analysis, 2019-2027

9.3.LAMEA

9.3.1.1.Market size and forecast, by Solution Type, 2019-2027
9.3.1.2.Market size and forecast, by Deployment Type, 2019-2027
9.3.1.3.Market size and forecast, by Authentication Type, 2019-2027
9.3.1.4.Market size and forecast, by Organization Type, 2019-2027
9.3.2.Market size and forecast, by End user, 2019-2027

9.3.3.Latin America

9.3.3.1.Market size and forecast, by Solution Type, 2019-2027
9.3.3.2.Market size and forecast, by Deployment Type, 2019-2027
9.3.3.3.Market size and forecast, by Authentication Type, 2019-2027
9.3.3.4.Market size and forecast, by Organization Type, 2019-2027
9.3.3.5.Market size and forecast, by End user, 2019-2027
9.3.3.6.Comparative market share analysis, 2019-2027

9.3.4.Middle East

9.3.4.1.Market size and forecast, by Solution Type, 2019-2027
9.3.4.2.Market size and forecast, by Deployment Type, 2019-2027
9.3.4.3.Market size and forecast, by Authentication Type, 2019-2027
9.3.4.4.Market size and forecast, by Organization Type, 2019-2027
9.3.4.5.Market size and forecast, by End user, 2019-2027

9.3.5.Africa

9.3.5.1.Market size and forecast, by Solution Type, 2019-2027
9.3.5.2.Market size and forecast, by Deployment Type, 2019-2027
9.3.5.3.Market size and forecast, by Authentication Type, 2019-2027
9.3.5.4.Market size and forecast, by Organization Type, 2019-2027
9.3.5.5.Market size and forecast, by End user, 2019-2027
9.3.5.6.Comparative market share analysis, 2019-2027

10.Company profiles

10.1.McAfee Corporation

10.1.1.Business overview
10.1.2.Financial performance
10.1.3.Solution Type portfolio
10.1.4.Recent strategic moves & developments
10.1.5.SWOT analysis

10.2.IBM Corporation

10.2.1.Business overview
10.2.2.Financial performance
10.2.3.Solution Type portfolio
10.2.4.Recent strategic moves & developments
10.2.5.SWOT analysis

10.3.Fortinet

10.3.1.Business overview
10.3.2.Financial performance
10.3.3.Solution Type portfolio
10.3.4.Recent strategic moves & developments
10.3.5.SWOT analysis

10.4.Symantec Corporation

10.4.1.Business overview
10.4.2.Financial performance
10.4.3.Solution Type portfolio
10.4.4.Recent strategic moves & developments
10.4.5.SWOT analysis

10.5.FireEye Inc.

10.5.1.Business overview
10.5.2.Financial performance
10.5.3.Solution Type portfolio
10.5.4.Recent strategic moves & developments
10.5.5.SWOT analysis

10.6.Cisco Systems Inc.

10.6.1.Business overview
10.6.2.Financial performance
10.6.3.Solution Type portfolio
10.6.4.Recent strategic moves & developments
10.6.5.SWOT analysis

10.7.Akamai Technologies

10.7.1.Business overview
10.7.2.Financial performance
10.7.3.Solution Type portfolio
10.7.4.Recent strategic moves & developments
10.7.5.SWOT analysis

10.8.Palo Alto Networks

10.8.1.Business overview
10.8.2.Financial performance
10.8.3.Solution Type portfolio
10.8.4.Recent strategic moves & developments
10.8.5.SWOT analysis

10.9.Okta Inc.

10.9.1.Business overview
10.9.2.Financial performance
10.9.3.Solution Type portfolio
10.9.4.Recent strategic moves & developments
10.9.5.SWOT analysis

10.10.Check Point Software Technologies

10.10.1.Business overview
10.10.2.Financial performance
10.10.3.Solution Type portfolio
10.10.4.Recent strategic moves & developments
10.10.5.SWOT analysis

As the number of personal devices accessing corporate networks is rising, the perimeter of corporate network has been redefined. A significant rise of identity-based attacks have been observed in last few years. Password spraying, breach replays, and phishing are the tactics used for such cyber-attacks. This is the reason why the organizations are focused on implementation of real-time, AI-based security measures, while security professionals are working on developing more advanced security solutions.

Zero Trust security system is based on the belief that companies should not trust anything inside or outside its perimeters automatically. Instead, they must verify every single request to connect to its systems before granting permission.

In 2010, John Kindervag, a former principal analyst at Forrester Research Inc., created the first model of the Zero Trust Network, or Zero Trust Architecture.

With the cyber-attacks becoming more sophisticated with passing time, corporates are adopting zero trust security system.

Factors driving the market growth

The increasing activities breaching security perimeter in many organizations are expected to boost the growth of the global zero security system market. These organizations rely solely on on-premises firewalls and VPNs, solution integration, and agility to deliver in time, and end to end security coverage.

Recent Developments in the Industry

  • McAfee Corporation
  • IBM Corporation
  • Fortinet
  • Symantec Corporation
  • FireEye Inc.
  • Cisco Systems Inc.
  • Akamai Technologies
  • Check Point Software Technologies
  • Palo Alto Networks
  • Okta Inc.

These industry players are utilizing a lot of efforts on the research and development of smart and unique strategies to sustain the growth of the market. These strategies include product launches, mergers and acquisitions, collaborations, partnerships, and refurbishing of existing technology.

Some of the recent developments of the market are as follows:

  • As per a report, Fortinet®, a global leader in broad, integrated and automated cybersecurity solutions, has recently acquired OPAQ Networks. Based in Herndon, Virginia, OPAQ Networks is a Secure Access Service Edge (SASE) cloud provider. OPAQ’s Zero Trust Network Access (ZTNA) cloud solution safeguards organizations’ distributed networks from data centers, to branch offices, remote users, and Internet of Things (IoT) devices.

Fortinet’s Security Fabric combined with OPAQ’s patented ZTNA solution augments Fortinet’s existing SASE offering to build the best-in-class SASE cloud security platform. The company will offer industry-leading next-generation firewall and SD-WAN capabilities, sandboxing, web security, identity/multi factor authentication, advanced endpoint, cloud application security broker (CASB), multi-cloud workload protection, web application firewalling capabilities, and browser isolation.

  • According to another report, in August 2019, Broadcom, Inc., a global leader that develops, designs, and supplies semiconductor and infrastructure software solutions, entered into an definitive agreement to acquire the enterprise security business of Symantec Corporation. This acquisition is expected to grow Broadcom's infrastructure software.
     
  • In February 2021, Akamai Technologies, Inc., the intelligent edge platform for securing and delivering digital experiences, announced about the prospective acquisition of Inverse, a Montreal-based company. The acquisition is expected to improve Akamai’s enterprise security competences growing its portfolio of zero trust and secure access service edge solutions for IoT.

Inverse offers a voluminous data repository and world class algorithms which enables to identify an expansive universe of IoT, mobile and other device types. These include HVAC, lighting systems, medical equipment, robotics, and printers, along with a deep knowledge of their expected network behaviors.

  • In February 2021, Palo Alto Networks, the global cybersecurity leader, announced about its definitive agreement to acquire Bridgecrew, a developer-first cloud security company. The acquisition is expected to enable “shift left” security, with Prisma® Cloud becoming the first cloud security platform to deliver security across the full application lifecycle.

COVID-19 Impact Analysis

The zero-trust security market has recorded a significant growth in the previous years. With the emergence of coronavirus pandemic, we have seen a growing trend of ‘work from home’ culture all over the world.  This practice has influenced cybercrime and cyber-attacks. This is the main reason behind the growing demand of zero trust security system market during the COVID-19 pandemic.

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