Zero Trust Security Market Expected to Reach USD 126.02 Billion by 2031 with a Robust CAGR of 18.5%

WILMINGTON, DE, UNITED STATES, September 13, 2024 /EINPresswire.com/ -- Global zero trust security market size was valued at $23.61 billion in 2021, and is estimated to reach $126.02 billion by 2031, growing at a CAGR of 18.5% from 2022 to 2031.

The global zero trust security market is influenced by a number of factors, including use of big data platform, measures to cut down on office paper usage, and strengthened information security. However, the restraints include recurring expense.

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North America is the leading region, in terms of technological advancements and adoption. It possesses well-equipped Zero Trust Network infrastructure and the ability to afford zero trust security solutions. Furthermore, owing to rise in competition between cloud-based service providers in North America, key players are providing more security for data by ensuring quick access and greater outreach of their services to the clients, which drives the growth of the zero trust security market in this region. In addition, the major factors that are contribute toward the growth of zero trust security in North America are increase in usage of mobile & web. In addition, increase in dependency on internet and social media platforms is another major factor fueling the Zero Trust Security Industry growth in this region.

The COVID-19 outbreak will benefit the development of the zero trust security business. This is due to the fact that the implementation of zero trust security during COVID-19 will make it possible for businesses to handle security concerns and provide secured information access when conducting remote operations. In addition, due to an increase in internet traffic, the risk of cyberattacks has grown significantly in a number of enterprises, driving the demand for Zero Trust Architecture solutions. Cloud security, AI-integrated solutions, and an increase in cyberattacks following the advent of this pandemic have all contributed to innovations and advancements in cybersecurity solutions that have further supported market growth. For instance, as per a survey by Information Systems Security Association (ISSA) & ESG conducted in April 2020, the cybersecurity industry witnessed almost 63% increase in cyberattacks related to the pandemic. Thus, increase in risk of cyberattacks augments the demand for zero trust security solution & services, thereby fueling the growth of the Zero Trust Security Industry market.

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Some of the key data center automation industry players profiled in the report include Cisco, Akamai, IBM, ZScaler, VMware, Microsoft, Cloudflare, Google, Cyxtera Technologies, SonicWall, Palo Alto Networks, Check Point Software Technologies, Trend Micro, Inc., Symantec Corp., FireEye, Inc., McAfee Corp., and forcepoint. This study includes Zero trust security market share, trends, Zero trust security market analysis, and future estimations to determine the imminent investment pockets.

Key Findings of the Study
On the basis of component, in 2021, the solution segment dominated the zero trust security market size. However, the services segment is expected to exhibit significant growth during the forecast period.
Depending on industry vertical, the BFSI segment generated highest revenue in 2021.
On the basis of organization size, the large enterprises segment generated the highest revenue in 2021. However, the small & medium enterprises segment is expected to exhibit significant growth during the forecast period
On the basis of region, North America dominated the market in 2021. However, Asia-Pacific is expected to witness significant growth in the upcoming years.

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