Zero-Trust Security Market Worth $38.6 Billion by 2024 - Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 21, 2019 /PRNewswire/ -- According to a new market research report "Zero-Trust Security Market by Solution Type (Data Security, Endpoint Security, API Security, Security Analytics, Security Policy Management), Deployment Type, Authentication Type, Organization Size, Vertical, and Region - Global Forecast to 2024", published by MarketsandMarkets™, the Zero-Trust Security Market size is projected to grow from USD 15.6 billion in 2019 to USD 38.6 billion by 2024, at a CAGR of 19.9% from 2019 to 2024.

The major growth drivers for the market include the rising need for compliance for networks, user devices, and data from unauthorized access and to get a centralized view on threats.

Browse in-depth TOC on "Zero-Trust Security Market"

101 – Tables

48 – Figures

177 – Pages

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=2782835

Based on the solution type, the data security segment is estimated to lead the market in 2019.

Data security solutions are responsible for securing the business database and information such as customer details, financial information, and employee database as well as other key business data of any organizations. A tremendous amount of data is generated every day across organizations in various industry verticals, and effective management and storage of business data become critical for the IT and data security professionals.

An organizations database comprises of sensitive data such as Personally Identifiable Information (PII), Personal Health Information (PHI), Intellectual Property (IP), as well as Payment Card and Financial Information. Databases often become a target for cybercriminals and victim of cyberattacks, causing data breaches and loss of business and personal information. Zero trust data security solutions fortify an organization's data security by confining the risks from user privileges and access, restricting the lateral movement of threats within a company's infrastructure.

Based on Vertical, Government & Defense sector is estimated to grow at the fastest rate during the forecasted period.

The government sector consists of the various federal government, central government, state government, local government, and various public sector entities. The government sector across various developed and emerging economies is embracing digital transformation by harnessing the power of mobility and cloud.

Various governments are already deploying cloud-based web and mobile applications to enhance the experience of its citizens. As a result, governments need to protect these applications, workloads, devices, and users from the rising number of advanced persistent threats.

Thus, government bodies are shifting towards zero trust security solutions to enhance government network security, data security, risk & security analytics, endpoint security, and application security. Furthermore, increasing complexities in the network and cyberattacks are fueling the adoption of zero-trust security solutions among the governments across the globe.

Speak to Analyst:

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=2782835

North America is expected to hold the largest market share during the forecast period.

Most of the security vendors are based in North America, which makes the region to be among the early adopter of new and advanced security technologies. As a result, North America is expected to dominate the Zero-Trust Security Market during the forecast period.

Moreover, increase in the sophisticated cyber-attacks is anticipated to drive the implementation of zero-trust security in several verticals such as banking, finance, government, and healthcare sectors. With the widespread use of digital payments, cloud-based applications, IoT, security ecosystem has become more complex. Besides, various SMBs are welcoming disruptive work culture through services such as BYOD and work-from-home, exposing the enterprise data prone to a number of cyber-attacks.

Market Players

The major vendors covered in the Zero-Trust Security Market include Cisco Systems Inc. (US), Akamai Technologies, Inc. (US), Palo Alto Networks, Inc. (US), Symantec Corporation (US), Okta, Inc. (US), Forcepoint, LLC (US), Centrify Corporation (US), Cyxtera Technologies (US), Illumio (US), Sophos Group Plc (UK), Google LLC (US), Microsoft, Inc. (US), VMware Inc. (US), Trend Micro Incorporated (Japan), Cloudflare (US), IBM Corporation (US), Fortinet (US), Check Point Software Technologies Ltd. (US), Pulse Secure, LLC (US), and ON2IT (Netherlands).

Browse Adjacent Markets: Information Security Market Research Reports & Consulting

Related Reports:

Cybersecurity Market by Solution (IAM, Encryption, UTM, Antivirus/Antimalware, Firewall, IDS/IPS, Disaster Recovery, and DDOS Mitigation), Service, Security Type, Deployment Mode, Organization Size, Industry Vertical, and Region - Global Forecast to 2023

https://www.marketsandmarkets.com/Market-Reports/cyber-security-market-505.html

Managed Security Services Market by Type (Managed IAM, Managed Firewall, Managed DLP, Managed IDS/IPS, Managed Encryption, Managed SIEM, Managed UTM), Security Type, Organization Size, Deployment Mode, Vertical, and Region - Global Forecast to 2023

https://www.marketsandmarkets.com/Market-Reports/managed-security-services-market-5918403.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
MarketsandMarkets™ Blog: https://mnmblog.org/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/zero-trust-security-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/zero-trust-security.asp

SOURCE MarketsandMarkets