At 19.71 % CAGR, Zero Trust Security Market size is Projected to reach $94.35 Billion by 2027, Says Brandessence Market Research

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PUNE, India, Jan. 25, 2021 /PRNewswire/ -- The Global demand for Zero Trust Security market, in terms of revenue, was worth of USD 15.61 Billion in 2020 and is expected to reach USD 94.35 Billion in 2027, growing at a digital transaction management CAGR of 19.71 % from 2020 to 2027.

Frequent cyber-threats, emerging technologies like artificial intelligence and machine learning, increasing adoption of cloud-security in BFSI and Defense sector are some of the major factors driving the growth of Global Zero Trust Security Market. Zero Trust Security Market Global Size, Trends, Competitive, Historical & Forecast Analysis to 2027.

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Zero trust is a realistic and pragmatic approach towards security that centers on the concept of eliminating trust from an organization's network architecture. An advance data security solution which works on the principal of "never trust and always verify" protocol. Instead of assuming everything is safe and secure behind the firewall, the security solution assumes breach and verifies every request originated assuming every single network is probably compromised. It draws on solid authentication, orchestration, analytics, encryption, scoring, and file-system consents. The core tenet of zero-trust security solution is privileged access management (PAM), where users have just-in-time access and barely enough admittance to finish a given task. This ties client experience straightforwardly to security.

Key Companies Covered by Brandessence Market Research in the Zero Trust Security market: IBM Corp., Google LLC, VMware Inc., Symantec Corp., Sophos Group Plc., Trend Micro Incorporated, Amazon Web Services, Microsoft Corp., Cyxtera Technologies, Palo Alto Networks Inc., Illumio and others.

Global zero trust security market report is segmented on the basis of solutions type, authentication type, organization type, deployment type, end-user and region & country level. Based upon solutions type, global zero trust security market is classified into network security, API security, zero trust security, data security, end-point security, security analytics, security policy management and others. Based upon authentication type, the market is divided into single-factor authentication and multi-factor authentication. Based upon organizations type, global zero trust security market is categorized into small & medium-scale enterprise and large-scale enterprise. Based on deployment type, the market is classified into cloud and on-premises. Based on end-users, the zero trust security market is categorized into retail & E-commerce, BFSI, gaming, healthcare, travel & hospitality, government, telecommunication, information technology and others

Global Zero Trust Security Market Segmentation:

By Solution Type:

• Network Security
• API Security
• Zero Trust Security
• Data Security
• End Point Security
• Security Analytics
• Security Policy Management
• Others

By Authentication Type:

• Single-Factor Authentication
• Multi-Factor Authentication

By Organization Type:

• Small & Medium scale Enterprise
• Large scale Enterprise

By Deployment Type:

• Cloud
• On-Premises

By End-Users Type:

• Retail & E-commerce
• BFSI
• Gaming
• Healthcare
• Travel & Hospitality
• Government
• Telecommunication
• Information Technology
• Others

The regions covered in this Zero Trust Security Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Zero Trust Security is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

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News: Francisco Partners Firm Completed Acquisition of Forcepoint.

January 11th, 2021; Francisco Partners, a leading global investment firm that specializes in partnering with technology and technology-enabled businesses, has closed on the previously announced acquisition of Forcepoint from Raytheon Technologies. Forcepoint is a leading provider of cybersecurity solutions that protects the critical data and networks of thousands of customers throughout the world.

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Increasing Cyber-Attacks and Advent of Digitalization in Firms, Such as Artificial Intelligence and Cloud Computing Drive the Growth of Global Zero Trust Security Market.

The major factor driving the growth of global zero trust security market are the advent of digitalization, increasing cyber-attacks and growing preferences for security solutions like cloud-security and API security among industries. Increasing number of cyber-attacks by cybercriminals just to steal, destroy or hold hostile sensitive data, such as personally identifiable information (PII), intellectual property (IP) and financial information for personal gain is one of the major factors supplementing the demand for zero trust security solutions. For example; A cyber-attack which started in Ukraine has affected several countries across the world. Virus name Petya appeared on several computers in national banks, state power providers and airport hit by hackers and ransomware, demanding a payment of 300$ in bitcoin to regain access of encrypted files. In-addition, on January 11th, 2021; Reserve bank of New Zealand has suffered a data breach after an unknown actor which gained unauthorized access to a third-party file sharing service.

However, the high cost of these implicit security solutions and the budgetary constraint of SMEs firm may hamper the market growth. In spite of that, its increasing adoption in various verticals precisely in defense, financial institutions may create more opportunities for the further growth of the market in the upcoming years.

North America is Expected to Dominate the Global Zero Trust Security Market

The global zero trust security market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. North America is expected to dominate the global zero trust security market within the forecast period attributed  to early adoption of zero trust security technologies as the region is home for several major tech company due to early adopter of new and advance security technology like biometric security, AI and cloud-based service solution. Around 80% of the new digital business applications are more likely to accessed through Zero trust network access by 2022. It is estimated that 60% of enterprise will going to phase out their remote access virtual private network by 2023.

Continued zero trust security market Report …

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