Zero-Trust Security Market - Forecast(2024 - 2030)

Zero-Trust Security Market Overview:

Zero-Trust Security Market size is estimated to reach $65 billion by 2030, growing at a CAGR of 15.3% during the forecast period 2024-2030. The rising cybersecurity threats, increasing demand for digital transformation, and increasing focus on data security are propelling the Zero-Trust Security Market growth.

Additionally, the growing demand for zero-trust security solutions for small and medium-sized businesses (SMBs) is creating substantial growth opportunities for the Zero-Trust Security Market. These factors positively influence the Zero-Trust Security industry outlook during the forecast period.

Market Snapshot:

Zero-Trust Security Market - Report Coverage:

The “Zero-Trust Security Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Zero-Trust Security Market.

COVID-19 / Ukraine Crisis - Impact Analysis:

●   The COVID-19 pandemic reshaped consumer behaviour, driving a surge in online interactions. Lockdowns and restrictions prompted businesses to embrace social commerce, offering digital shopping experiences on social platforms. E-commerce boomed as physical shopping waned. Brands leveraged live streaming and virtual engagement to adapt. Consequently, the social commerce market experienced rapid growth during the pandemic, cementing its role as a pivotal sales channel.

●       The Ukraine crisis introduced geopolitical uncertainties rippled into the social commerce market. Trade tensions and economic disruptions created ripples in cross-border transactions. Consumer sentiment was influenced by geopolitical unrest, possibly leading to shifts in spending habits. Brands faced challenges maintaining stable supply chains, affecting product availability. Investments in social commerce expansion were cautious due to the volatile geopolitical environment, prompting businesses to reassess strategies amidst the crisis.

Key Takeaways:

●      Fastest Growth Asia-Pacific Region

Geographically, in the global Zero-Trust Security Market share, Asia-Pacific is analysed to grow with the highest CAGR of 17.5% during the forecast period 2024-2030. The region's expanding economy, increasing digitalization, and growing awareness of cybersecurity risks have led to a surge in demand for advanced security solutions like Zero Trust. As organizations in Asia-Pacific countries strive to secure their digital assets and data from evolving cyber threats, the adoption of Zero Trust principles has gained significant traction, contributing to the region's rapid market growth.

●      Network Security Register the Fastest Growth

In the Zero-Trust Security Market analysis, the Network Security segment is estimated to grow with the highest CAGR of 16.8% during the forecast period 2024-2030 owing to its crucial role in securing digital environments. With the adoption of Zero Trust principles, solutions like micro-segmentation and software-defined perimeters are gaining prominence. These measures effectively partition networks, limiting exposure to potential threats. The escalating need to shield network infrastructure against evolving cyber dangers has driven the rapid adoption of network security solutions, making it the market's fastest-growing segment.

●       IT & Telecom is Leading the Market

According to the Zero-Trust Security Market forecast, IT & Telecom held the largest market share of 20% in 2023 owing to its inherent reliance on secure digital operations. With vast networks, diverse endpoints, and critical data transmission, the industry demands robust protection. Zero Trust principles resonate strongly here, enforcing strict access controls, continuous authentication, and micro-segmentation. As IT and telecom continually adopt advanced technologies, such as 5G and edge computing, the sector's leadership in embracing Zero Trust solutions to safeguard against evolving cyber threats solidifies its prominent position in the market.

●       The Increasing Number of Cyberattacks

With sophisticated threats targeting organizations across sectors, traditional security measures are proving insufficient. Zero Trust principles, emphasizing continuous authentication, strict access controls, and adaptive response, are gaining traction. Organizations seek resilient solutions that address evolving attack vectors. The urgency to fortify defenses against cyber threats has led to a surge in Zero Trust Security adoption, propelling the market's expansion as businesses prioritize comprehensive protection.

●      The Surge in Adoption of Digital Transformation  

With businesses embracing cloud technologies, remote work, and IoT integration, the attack surface widens. Zero Trust Security aligns perfectly with this paradigm, emphasizing strict access controls, continuous monitoring, and identity-based authentication. Organizations recognize the need for adaptable security measures that protect sensitive data amidst the evolving digital landscape. The integration of Zero Trust principles to secure modern digital transformations has accelerated its adoption, propelling substantial market growth.

●      Lack of Skilled Cybersecurity Professionals Hamper the Market Growth

The increasing complexity of threats demands expertise in implementing and managing advanced security solutions like Zero Trust. Organizations face challenges in finding qualified personnel to deploy effectively and maintain these measures. The scarcity of skilled professionals hampers timely implementation, leaving systems vulnerable. The need for specialized knowledge in Zero Trust principles is evident, underscoring the urgency to address the skills gap to ensure the market's sustained growth.

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Zero-Trust Security Market. The top 10 companies in this industry are listed below:

1. Palo Alto Networks, Inc. (Prisma Access, Prisma Cloud)
2. Cisco Systems, Inc., (Cisco Secure Access Service Edge [SASE])
3. International Business Machines Corporation (IBM Security Verify Access, IBM Security Access Manager)
4. Google LLC. (BeyondCorp Enterprise, BeyondCorp Zero Trust)
5. Microsoft Corporation (Azure Active Directory Identity Protection, Microsoft Defender for Cloud Apps)
6. Akamai Technologies, Inc. (Akamai Enterprise Threat Protector, Akamai Zero Trust Edge)
7. Trend Micro Inc. (Trend Micro Cloud App Security, Trend Micro Deep Discovery Inspector)
8. Cyxtera Technologies, Inc. (Cyxtera Secure Access Cloud, Cyxtera NAC for Networks)
9. VMware, Inc. (VMware Carbon Black Cloud Access, VMware SASE)
10.  FireEye, Inc. (FireEye Helix, FireEye Endpoint Security)

Scope of the Report: