Zero Trust Architecture Market By Offering (Solution, Services) , By Organization Size (Small and Medium-Sized Enterprise (SMEs) , Large Enterprises) By Deployment (Cloud, On-Premises) By End User (BFSI, Government and Defense, IT & ITES, Healthcare, Retail and Ecommerce, Energy and Utilities, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2032
Zero Trust Architecture Market
The zero trust architecture market was valued at $17.3 billion in 2023 and is projected to reach $108.1 billion by 2032, growing at a CAGR of 22.7% from 2024 to 2032.
Zero trust architecture (ZTA) is a security model for devices that rigorously verifies users and grants them restricted access for the task they are supposed to perform. ZTA is essential to reduce the surface attack of networks and protect sensitive information. The major security controls executed by this architecture before providing access to users include authentication, authorization, continuous monitoring, micro-segmentation, and identity access management.
Expansion of the landscape of cyberattacks has boosted the requirement for sophisticated security models, which is a key driver of the zero trust architecture market. In addition, surge in digitalization across different sectors augments the growth of the market as ZTA ensures seamless work over cloud and mobile devices. Furthermore, the implementation of stringent regulations pertaining to data security is boosting the adoption of ZTA. In coming years, the trend of integrating blockchain within ZTA is projected to acquire notable traction. The immutable account of blockchain is expected to enhance the authentication potential of ZTA by the formation of a tamper-proof record of verification and access history.
However, the implementation of ZTA is an expensive and resource-intensive procedure that poses significant complexities. This hampers the growth of the zero trust architecture market. Moreover, continuous verifications and monitoring processes impact the performance of systems, deterring organizations from adoption and restraining the market development. On the contrary, the development of multi-cloud landscape in several businesses is anticipated to necessitate the implementation of exceptional security strategies, presenting lucrative opportunities for the zero trust architecture market. American research and advisory firm, Gartner predicts 10% of the big enterprises across the globe to embrace a mature ZTA by 2026, rising from the less than 1% adoption rate in 2023. This surge in adoption rate indicates a bright future of the zero trust architecture market.
Segment ReviewThe zero trust architecture market is segmented into offering, organization size, deployment, end user, and region. On the basis of offering, the market is bifurcated into solution and services. Depending on organization size, it is divided into small & medium-sized enterprise (SMEs) and large enterprises. By deployment, it is classified into cloud and on-premises. As per end user, it is categorized into BFSI, government and defense, IT & ITES, healthcare, retail and e-commerce, energy and utilities, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of offering, the market is bifurcated into solution segment dominated the market in 2023.
Depending on organization size, the large enterprises segment held a high share of the market in 2023.
By deployment, the cloud segment acquired a high stake in the market in 2023.As per end user, the retail and e-commerce segment accounted for a high share of the market in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition AnalysisThe leading players operating in the global zero trust architecture market include Palo Alto Networks, VMware Inc., Zscaler, Inc., Akamai Technologies, Microsoft Corporation, Cisco Systems Inc., IBM Corporation, Citrix Systems Inc., Check Point Software Technologies Ltd., and Trellix. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
Key Market SegmentsBy OfferingSolution
Services
By Organization SizeSmall and Medium-Sized Enterprise (SMEs)
Large Enterprises
By DeploymentCloud
On-Premises
By End UserBFSI
Government and Defense
IT ITES
Healthcare
Retail and Ecommerce
Energy and Utilities
Others
By RegionNorth America
U.S.
Canada
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market PlayersPalo Alto Networks
VMware Inc.
Zscaler, Inc.
Akamai Technologies
Microsoft Corporation
Cisco Systems Inc.
IBM Corporation
Citrix Systems Inc.
Check Point Software Technologies Ltd.
Trellix