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.
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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.
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.
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.
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.
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.
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.
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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.
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.
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.
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.
| 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 |
Some leading companies are IBM, Ping Identity, Palo Alto Networks, Akamai, Cisco Systems, among others.
South Asia and Pacific region is expected to showcase the highest growth.
Growing adoption of insider data breach across industries such as healthcare, IT, BFSI, to drive demand for zero trust security.
BFSI sector has the largest market share for the zero trust security of 30.1% in 2021.
Cloud-based deployment has the highest CAGR for the zero trust security of 16.2% during the forecast period
USA, UK, India, Germany, and Japan are the top 5 countries
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.
Rise in adoption of Bring your own device (BYOD), the work-from-home trend, and Internet penetration.
India holds the leading CAGR of around 18.7% in the forecast period.
The CAGR for the forecast period 2017 to 2021 for zero trust security was around 14.0%.
In the year 2021, the USA held the largest market share for North America zero trust security market.
| Market Value for 2024 | USD 3070.7 million |
|---|---|
| Market Value for 2034 | USD 9342.9 million |
| Market CAGR from 2024 to 2034 | 11.8% |
| Market Size (2023) | USD 3,980 million |
|---|---|
| Market Size (2033) | USD 10,323.09 million |
| Market CAGR (2023 to 2033) | 10% |
| Estimated Value in 2024 | USD 16.1 billion |
|---|---|
| Forecasted Market Value by 2034 | USD 70.0 billion |
| Projected CAGR (2024 to 2034) | 15.9% |
| Market Value (2033) | USD 8.5 Billion |
|---|---|
| Market Value (2023) | USD 3.5 Billion |
| Market Growth Rate (2023 to 2033) | 9.1 % CAGR |
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