Who are the key vendors in the Zero Trust Security Market?

The global zero trust security market is highly fragmented, with numerous players operating in the market. The market is characterized by the presence of both established players and new entrants, which are competing based on product innovation, quality, and pricing strategies. To gain a competitive advantage, players are focusing on partnerships, collaborations, and mergers and acquisitions. Vendors are also investing in R&D activities to develop advanced solutions and expand their customer base. The market is expected to become more consolidated in the future, with larger players acquiring smaller players to expand their market presence. 'Cisco Systems, Inc. (US)', 'Akamai Technologies, Inc. (US)', 'Palo Alto Networks, Inc. (US)', 'Symantec Corporation (US)', 'Microsoft Corporation (US)', 'Okta, Inc. (US)', 'Proofpoint, Inc. (US)', 'Centrify Corporation (US)', 'Fortinet, Inc. (US)', 'Google LLC (US)', 'VMware, Inc. (US)', 'Illumio, Inc. (US)', 'CyberArk Software Ltd. (Israel)', 'Broadcom Inc. (US)', 'Check Point Software Technologies Ltd. (Israel)', 'Pulse Secure, LLC (US)', 'Sophos Group plc (UK)', 'SailPoint Technologies Holdings, Inc. (US)', 'F5 Networks, Inc. (US)', 'Trend Micro, Inc. (Japan)'

What is the key driver of Zero Trust Security Market?

One of the key drivers of the global zero trust security market is the increasing number of cyber threats and data breaches, which are resulting in significant financial losses for organizations. Instead of ensuring the privacy of information, lost or stolen credentials take 328 days to be detected and contained; hence, the security of these databases is imperative. Zero Trust Security helps again such risks since identities are constantly checked and access kept limited. Specifically, Zero Trust Security mitigates such risks by continuously verifying identities and enforcing strict access controls. The surge in cryptojacking attacks, up by 659% to 1.06 billion in 2023, further underscores the urgency for comprehensive security frameworks. It enhances the status of organizations against such threats through the successful implication of the Zero Trust standard for protection from more invasive and frequent attacks on identity and access.

What is the key market trend for Zero Trust Security Market?

The concept behind Zero Trust Security is steadily being adopted, especially given that modern organizations pay much attention to the enhancement of cybersecurity due to the increased levels of cyber threats in the contemporary world. The concept of Zero Trust that does not trust any subject and always verifies the request before granting access is relevant to the current-day problems. Other developing ones are the trend towards adopting Zero Trust principles across SDPs and SASE frameworks for multi-level security at the perimeters of distributed organizations. Besides, use of artificial intelligence and automation is making Zero Trust the best security as it can distinguish threats and counteract them on real time.

Which region accounted for the largest share in Zero Trust Security Market?

North America dominated the zero trust security market, owing to the presence of major market players and a high level of awareness of the need for robust security measures. The United States is the largest contributor to the region's growth, with a strong focus on developing innovative solutions and high investments in cybersecurity measures. The US government's implementation of the Zero Trust Cybersecurity model is also expected to boost the demand for zero trust security solutions in the region.

Zero Trust Security Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to zero trust security market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Zero Trust Security Market News

In March 2023, F5 Networks announced the acquisition of Volterra, a provider of cloud-native networking and security solutions, to enhance its SASE platform and zero trust security capabilities.
In February 2023, Crowdstrike announced the acquisition of Nightfall AI, a provider of data loss prevention (DLP) solutions, to expand its zero trust security offerings.
In January 2023, Broadcom announced the acquisition of ShieldX Networks, a provider of cloud-native zero trust security solutions, to enhance its cybersecurity portfolio.
In September 2022, Amazon Web Services (AWS) announced the launch of AWS Network Firewall, a new zero trust security solution that provides advanced threat detection and response capabilities.

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FAQs

Zero Trust Security Market size was valued at USD 31.6 Billion in 2023 and is poised to grow from USD 36.5 Billion in 2024 to USD 115.15 Billion by 2032, growing at a CAGR of 15.5% during the forecast period (2025-2032).

The global zero trust security market Growth is highly fragmented, with numerous players operating in the market. Key firms operating in the zero trust security market is expanding their product offerings, and employing many inorganic growth strategies such as mergers, partnerships, acquisitions etc. For example, in May 2021 Cisco Systems, Inc. acquired Slido, a polling and Q&A platform for virtual, live, hybrid events and meetings. This acquisition will provide significant features and robust capabilities for the Webex experience. 'Cisco Systems, Inc. (US) ', 'Akamai Technologies, Inc. (US) ', 'Palo Alto Networks, Inc. (US) ', 'Microsoft Corporation (US) ', 'Okta, Inc. (US) ', 'Fortinet, Inc. (US) ', 'Google LLC (US) ', 'Illumio, Inc. (US) ', 'CyberArk Software Ltd. (Israel) ', 'Broadcom Inc. (US) ', 'Check Point Software Technologies Ltd. (Israel) ', 'F5 Networks, Inc. (US) ', 'Trend Micro, Inc. (Japan) ', 'Zscaler, Inc. (US) ', 'Cloudflare, Inc. (US) ', 'Tenable, Inc. (US) ', 'One Identity LLC (US) ', 'Ping Identity Corporation (US) ', 'CrowdStrike Holdings, Inc. (US) ', 'Netskope, Inc. (US) ', 'Radware Ltd. (Israel) ', 'Thales Group (France)'

The increasing sophistication of cyberattacks is increasingly leading organizations to adopt security measures without any guarantees. Traditional perimeter-based security mechanisms are insufficient to protect against advanced threats, making mistrust the primary means of protecting critical data and systems.

Increasing Adoption of Cloud-based Solutions: One of the key market trends in the global zero trust security market is the increasing adoption of cloud-based solutions. Cloud-based zero trust security solutions offer numerous benefits, including reduced costs, scalability, and flexibility, compared to on-premises solutions. With the growing trend of remote work and the increasing use of cloud technology, organizations are shifting towards cloud-based zero trust security solutions to ensure secure access to their networks and data. In addition, the integration of artificial intelligence and machine learning technologies in zero trust security solutions is also emerging as a key trend, enabling organizations to automate security processes and improve threat detection capabilities.

North America is the dominating region in the global market revenue and is expected to register the highest CAGR from 2024 to 2031. The regional market is expected to be driven by government and state authorities. Furthermore, the growing adoption of Internet of Things (IoT), AI and digital technologies by SMEs and large enterprises and increasing stringent standards and regulations to ensure data privacy and security contribute to the growth of the regional market.