Zero-Trust Security Market by Solution Type (API Security, Data Security, Endpoint Security), Authentication Type (Multi-Factor Authentication, Single-Factor Authentication), Deployment, Vertical - Global Forecast 2024-2030

Zero-Trust Security Market by Solution Type (API Security, Data Security, Endpoint Security), Authentication Type (Multi-Factor Authentication, Single-Factor Authentication), Deployment, Vertical - Global Forecast 2024-2030

The Zero-Trust Security Market size was estimated at USD 26.70 billion in 2023 and expected to reach USD 31.27 billion in 2024, at a CAGR 17.18% to reach USD 81.04 billion by 2030.

The zero-trust security comprises a diverse range of solutions, technologies, and services designed to safeguard organizations from cyber threats by adhering to the never trust, always verify principle. This approach discards the conventional notion of a secure network perimeter, assuming all users, devices, and data sources are potentially compromised. Key industries utilizing zero-trust security solutions include financial services, healthcare, manufacturing, government agencies, and IT service providers. The zero-trust security market has been witnessing significant growth driven by the adoption of cloud-based services and increasing cyber threats targeting organizations across sectors. Additionally, stringent regulatory compliance requirements are forcing organizations to adopt comprehensive security measures like zero-trust security solutions. However, challenges such as high implementation costs may deter SMEs from adopting these advanced security measures. Lack of awareness about zero-trust security concepts and a shortage of skilled professionals can hinder widespread adoption. Furthermore, developing simplified implementation frameworks that integrate seamlessly with existing IT infrastructure can encourage wider adoption among smaller organizations with limited resources.

Regional Insights

Zero-trust security has gained significant traction in the Americas due to increasing cyber threats and a growing remote workforce. The US government's recent executive order on improving the nation's cybersecurity emphasizes implementing zero-trust architecture, highlighting its importance in securing critical infrastructure. The European Union (EU)countries are focusing on enhancing their cybersecurity posture through strong regulatory frameworks like GDPR and NIS Directive. These regulations encourage organizations to adopt a robust security strategy such as zero-trust architecture, leading to increased demand for related products and services. Moreover, initiatives such as the EU Cybersecurity Act aim to establish certification schemes for ICT products, services, and processes to promote higher standards across member states. The Asia Pacific region presents a diverse landscape for zero-trust security adoption, driven by the need to protect sensitive data across various industries such as finance, healthcare, and manufacturing. APAC countries, including China, Japan, and India, are rapidly expanding their digital ecosystem and are focusing on enhancing their national cyber defense capabilities.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Zero-Trust Security Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Growing frequency of target-based cyberattacks
• Rising regulations for data protection and information security

Market Restraints

• Budgetary constraint among small and emerging start-ups in developing economies

Market Opportunities

• Raised demand for better visibility due to the rising IoT traffic among enterprises
• Increasing need for cloud-based zero trust security solutions among SMEs

Market Challenges

• Design and implementation challenges to deploy zero trust security solutions

Market Segmentation Analysis

• Solution type: Consumer’s specific need and preference for solution
• Authentication Type: Consumers’ security needs and implementation of MFA to reinforce their zero-trust security posture
• Deployment: Growing preference towards on cloud deployment due to ease and cost-effectiveness
• Vertical: Increasing adoption of zero-trust security across various digital ecosystem

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Zero-Trust Security Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Zero-Trust Security Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

BeyondID Introduces Identity-First Model for Zero Trust Maturity

BeyondID has introduced the Identity Fabric Model, the industry's first solution for zero-trust security. This model enhances threat detection and investigation capabilities and offers round-the-clock remediation through its Security Operations Center (SOC). With breach protection as its primary goal, the Identity Fabric Model can swiftly identify, isolate, and resolve threats in as little as seven days.

Lumeus.ai raises USD 6 million to enable universal zero-trust security across clouds and on-premises data centers

Lumeus.ai, officially known as Okulis Inc., has launched today with USD 6 million in seed funding raised from Tola Capital and pre-seed investors Emergent Ventures and First Rays Ventures. The startup offers a Universal Zero-Trust platform that is designed to increase visibility into networking environments through the use of AI and machine learning. Central to this platform is the concept of Zero-Trust Security, which aims to shift traditional access controls from the periphery to individual devices and users.

Xage Raises USD 30 million Series B to Expedite Zero Trust Security Adoption Among Real-World Operations

Xage, a zero-trust security company, has recently announced a successful Series B funding round of USD 30 million. This funding supports Xage's mission to establish zero trust as the security strategy, safeguarding the world's most critical assets and operations.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Zero-Trust Security Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Zero-Trust Security Market, highlighting leading vendors and their innovative profiles. These include Airgap Networks Inc., Akamai Technologies, Inc., Anitian, Inc., Authomize Ltd., BlackBerry Limited, Block Armour Pvt. Ltd., Broadcom Inc., Cisco Systems, Inc., Cyxtera Technologies, Inc., Delinea Inc., Elisity Inc., Forcepoint, Google LLC, Infinipoint Ltd., International Business Machines Corporation, Mesh Security Ltd., Microsoft Corporation, Myota, Inc., Okta, Inc., ON2IT BV, Ory Corp., Palo Alto Networks, Inc., Pulse Secure, LLC by Ivanti, Sonet.io Inc., and Trend Micro Inc..

Market Segmentation & Coverage

This research report categorizes the Zero-Trust Security Market to forecast the revenues and analyze trends in each of the following sub-markets:

Solution Type

• API Security
• Data Security
• Endpoint Security
• Network Security
• Security Analytics
• Security Orchestration Automation & Response
• Security Policy Management
• Authentication Type
  • Multi-Factor Authentication
  • Single-Factor Authentication
  • Deployment
  • On-Cloud
  • On-Premise
  • Vertical
  • Banking, Financial Services, & Insurance
  • Energy & Power
  • Government & Defense
  • Healthcare
  • IT & Telecommunications
  • Retail & Ecommerce
  Region
  • Americas
  • Argentina
  • Brazil
  • Canada
  • Mexico
  • United States
  • California
  • Florida
  • Illinois
  • New York
  • Ohio
  • Pennsylvania
  • Texas
  • Asia-Pacific
  • Australia
  • China
  • India
  • Indonesia
  • Japan
  • Malaysia
  • Philippines
  • Singapore
  • South Korea
  • Taiwan
  • Thailand
  • Vietnam
  • Europe, Middle East & Africa
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Israel
  • Italy
  • Netherlands
  • Nigeria
  • Norway
  • Poland
  • Qatar
  • Russia
  • Saudi Arabia
  • South Africa
  • Spain
  • Sweden
  • Switzerland
  • Turkey
  • United Arab Emirates
  • United Kingdom
  
  
  Please Note: PDF & Excel + Online Access - 1 Year