Zero Trust Security Market

Zero Trust Security Market Outlook (2022 to 2032)

The zero trust security market revenue totaled USD 25.4 Billion in 2021. The zero trust security market is expected to reach USD 118.7 Billion by 2032, growing at a CAGR of 15.1% from 2022 to 2032.

Attribute	Details
Estimated Year (2022) Market Value	USD 29.0 Billion
Projected Year (2032) Market Value	USD 118.7 Billion
CAGR% (2022 to 2032)	15.1%
Top 5 Vendor Market Share	Around 35%

Zero trust security is the next-gen security model to protect against the growing sophistication of cyber threats. IT security models must be able to quickly adjust to the demands of severe events with the least possible disturbance to business as usual in this age of speed, 24 x 7 work, and an equally abrupt and jolting halt to global mobility under the worldwide COVID-19 pandemic. Zero trust security provides insider threat protection, privileged access management, and micro-segmentation with multiple layers of protection. Zero trust security comprises nearly 40% of the cybersecurity market

The Zero Trust model uses a combination of Defense-in-Depth and Trust Gates at every layer of security to protect integrity, confidentiality, and availability of the most valuable asset i.e. Data, 75% of organizations recognize zero trust as very important to increase their overall cyber maturity.

2017 to 2021 Zero Trust Security Market Demand Outlook Compared to 2022 to 2032 Forecast

The zero trust security is expected to grow at 28.1% CAGR between 2022 to 2032 and the market grew by 14.3% from 2017 to 2021.

The way businesses set up their IT networks has seen a significant change during the past decade. Today, networks usually include various cloud applications that can be accessed from anywhere with multiple cloud applications, as opposed to the past when resources were maintained on physical servers running an on-premises network that could only be accessed from an office location. Furthermore, the acceleration of demand in zero trust security is majorly due to remote work, Companies have also been pushed to expand access locations and devices beyond the home office.

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Growth of Insider Data Breach Across Industries and Professionals has boosted the Demand for Zero Trust Security

Over the past years, the increase in cyberattacks internally and network infiltrations in organisations has been a critical disaster. Due to such malpractices, zero trust security has been implemented in numerous industrial verticals to protect the Insider data breach, which helps in securing endpoints accessing applications (regardless of whether those are native cloud, SaaS, classic and custom applications), identity services, and network infrastructure with multi-layered security protection.

Regional Analysis

North America is estimated to hold the largest market share of 34.8% for the zero trust security market in 2022. Whereas South Asia and the Pacific are expected to be the fastest-growing region with a CAGR of 34.6% during the forecast period 2022 to 2032.

The presence of numerous companies provides zero trust security and a larger implementation in North America. Developed countries have higher probabilities of insider data breaches within organisations.

Country wise insights

USA has numerous Zero Trust vendors and users which allows it to be the largest market for Zero Trust Security

There are several companies in the USA that provide zero-trust security solutions and services like next-generation firewalls, identity & access management, data loss prevention, etc. Several large technology companies which are implementing zero trust for several purposes such as Ping Identity, IBM, Cisco, and Cloudflare are headquartered in the USA.

Rising Insider Threats in Leading Economies like India are Leading to the Growth of Zero Trust Security Solutions

Over the past few years, several enterprises in India have implemented zero-trust security solutions and services, majorly in BFSI and IT industry. Many of these businesses were shifted to software platforms. As a result of this, there has been an increase in insider threats across industries. banking and financial industry has witnessed growth across the country over the years. Similarly, zero trust security has witnessed growth in the IT & Telecom industry as well.

Insider Cyber Threats Has Significantly Grown over the years in the United Kingdom

The countries considered leading economies are potentially targeted by cyberattacks which eventually shows the demand for zero-trust security solutions across such countries. The adoption of zero-trust security solutions is occurring at a faster rate in the UK, and several companies in Europe have started offering zero-trust security solutions and services. This is also promoted by the government upon the institution to implement a zero-trust security model to secure privacy.

North America has the highest revenue volatility, the reason being that North America has several vendors which dominate the zero-trust security market at a global level. They also have several end users, such as BFSI, IT, and Telecom, small businesses that are implementing zero trust security solutions and services compared to other regions.

South Asia and Pacific is the fastest growing region for zero trust security, reasons include high penetration of the internet and growth in enterprises offering zero trust security solutions, zero trust security solutions can be implemented through cloud-based or on-premises.

Europe has a large market share of BFSI, and there have been developments in this region in the field of FinTech. BFSI implements security for next-generation firewalls, identity & access management, data loss prevention, etc. The European Commission has been working on policies to secure privacy with the help of zero trust security. The COVID-19 pandemic has adopted the zero trust model's implementation in Europe. Organizations in Europe are moving workloads to the cloud to take advantage of enhanced flexibility for staff as hybrid working models become the norm. To deal with an increasingly scattered workforce, including contractors and third parties, working from a variety of devices, many organisations are revaluating their security approaches.

Category wise Insights

Why do Standalone Zero Trust Security Software Tools hold the largest market share in solutions, for the Zero Trust Security Market?

Standalone zero trust security is a framework that can be used with many different security solutions such as identity security, endpoint security, network security, data security, application security, and automation. Vendors have specialised in these solutions and serve them individually through cloud-based or on-premises. Mostly, the end user depending on their requirements prefers standalone zero-trust security over integrated zero-trust security. Thus, standalone software holds the largest market share with USD 17,554.56 Million in solutions for the zero trust security market.

Why has Cloud Based a dominant Deployment mode for Zero Trust Security?

Cloud Based mode provides users with a consistent, secure, and seamless experience irrespective of location, and improved visibility for data, assets, and risks. It also reduces operational costs for the end user, any upgradation is in real-time. This facilitates the end user to prefer cloud-based deployment for zero trust security.

Why is the BFSI industry holds the largest market share in Zero Trust Security?

In order to increase security in banking services and operations, zero trust security is being implemented in the BFSI sector. The modernisation in the banking industry with essential IT & data management can result in new cyber threats. The growth of 5G, smart devices, artificial intelligence, analytics, and edge computing results in increased databases, which tends to increase in cyberattacks.

Cyberattacks on the backend systems of banks have an impact on the bottom line, as a result, technology companies provide best practices that banks can implement, such as micro-segmentation, least-privileged access, and automated detection. On regular basis to measure the attacks and effectiveness of critical security measures BFSI has adopted zero trust security at a faster rate and as a result, holds the largest market share in zero trust security.

Competitive Landscape

Zero trust security provides security solutions to various industries which have shifted the company data to storage systems, as a result, this, tends to increase cyber threats for the stored data. To resolve these several companies have launched their zero trust security for multiple/specific purposes.

• In Feb 2021, Akamai acquired Montreal-based firm Inverse to improve Akamai’s enterprise security potential and would expand its product portfolio of zero trusts and secure access service edge solutions for the Internet of Things.
• In Oct 2022, Conceal a leader in ransomware prevention technology and Zero Trust isolation signed a strategic partnership agreement with Spire Solutions a leading distributor at GITEX 2022 to serve as the distributor for ConcealBrowse solution and Conceal’s platform in the Middle East and Africa regions.

Scope of report

Attribute	Details
Market value in 2021	USD 2,581.3 Million
Market CAGR 2022 to 2032	28.1%
Share of top 5 players	Around 35%
Forecast Period	2022 to 2032
Historical Data Available for	2017 to 2021
Market Analysis	USD Million for Value
Key Regions Covered	North America; Latin America; Europe; South Asia & Pacific; East Asia; and the Middle East & Africa
Key Countries Covered	USA, Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, GCC Countries, Turkey, and South Africa
Key Segments Covered	The solution, Deployment Mode, Authentication Type, Enterprise Size, Industry, and Region
Key Companies Profiled	Check Point; Cisco; IBM; Palo Alto Networks; Okta; Ping Identity; Thales; Cloudflare; Akamai Technologies; Avast Business; Citrix; NetMotion; Zscaler; Proofpoint; Varonis; ExtraHop
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Zero Trust Security by Category

By Solution:

• Integrated Zero Trust Security Platform
• Standalone Software
  • Next-Generation Firewall
  • Identity & Access Management
  • Data Loss Prevention
  • Others
• Services
  • Professional Services
    • Security Consulting
    • Integration & Implementation
    • Support & Maintenance
  • Managed Services

By Deployment:

• Cloud-Based
• On-premises

By Authentication Type:

• Single Authentication
• Multi Authentication

By Enterprise Size:

• Small and Mid-Sized Enterprises (SMEs)
• Large Enterprises

By Industry:

• BFSI
• Retail and eCommerce
• Healthcare
• IT & Telecom
• Government and Defense
• Others

Frequently Asked Questions

Which are some leading companies which offer zero trust security?

Some leading companies are IBM, Ping Identity, Palo Alto Networks, Akamai, Cisco Systems, among others.

Which region is expected to showcase high growth in zero trust security demand?

South Asia and Pacific region is expected to showcase the highest growth.

What are the driving demands for implementing zero trust security?

Growing adoption of insider data breach across industries such as healthcare, IT, BFSI, to drive demand for zero trust security.

Which industry has the largest market share for the zero trust security?

BFSI sector has the largest market share for the zero trust security of 30.1% in 2021.

Which Deployment mode has the highest CAGR for the zero trust security?

Cloud-based deployment has the highest CAGR for the zero trust security of 16.2% during the forecast period

Which are the top five countries for zero trust security market?

USA, UK, India, Germany, and Japan are the top 5 countries

What is the market share and value for the South Asia and Pacific region for the year 2021?

The market share of South Asia and Pacific was 10.1% where the market value estimated at USD 2,568.63 Million in the year 2021.

What is the major trends for the zero trust security market?

Rise in adoption of Bring your own device (BYOD), the work-from-home trend, and Internet penetration.

Which country has the highest CAGR for the forecast period?

India holds the leading CAGR of around 18.7% in the forecast period.

What was the CAGR for the forecast period 2017 to 2021 for Zero Trust Security market?

The CAGR for the forecast period 2017 to 2021 for zero trust security was around 14.0%.

Which country in the North America region held the largest market share for zero trust security for the year 2021?

In the year 2021, the USA held the largest market share for North America zero trust security market.