Zero Trust Security Market by Offering (Solution and Services), Security Type (Network Security, Application Security, Cloud Security, and Endpoint Security and IoT Security), Authentication Type, Vertical and Region - Global Forecast to 2028

Zero Trust Security Market by Offering (Solution and Services), Security Type (Network Security, Application Security, Cloud Security, and Endpoint Security and IoT Security), Authentication Type, Vertical and Region - Global Forecast to 2028

The global zero trust security market size is projected to grow from USD 31.1 billion in 2023 to USD 67.9 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 16.9% during the forecast period. The increasing sophistication of cyber threats, rapid digital transformation, and stringent regulatory demands collectively fuel the adoption of zero-trust security. Based on continuous authentication and access verification, this approach mitigates risks in an interconnected IT landscape. Traditional perimeter-based security is proving inadequate in the face of evolving threats, making Zero Trust a vital safeguard for organizations in the modern era.

“By vertical, the IT & ITeS segment accounts for a larger market share.”

The IT & ITeS vertical holds the largest market share in the zero trust security market due to its unique combination of factors, as the vertical deals extensively with sensitive data, including customer financial information and intellectual property, making robust security measures imperative. Its intricate IT infrastructure, encompassing diverse devices and networks, demands a modern approach like zero trust security for adequate protection. Moreover, compliance requirements like GDPR and PCI DSS are stringent, and zero trust security offers a comprehensive framework for adherence. With a remote workforce becoming commonplace, zero trust’s capability to verify user identity and authorization, irrespective of location, further solidifies its dominance in this market.

“By Authentication Type, the Multi-Factor Authentication segment accounts for a larger market share.”

Multi-factor authentication holds the largest market share in the zero-trust security market due to its pivotal role in fortifying identity verification. It addresses critical security concerns by necessitating multiple forms of identity validation, enhancing user trustworthiness. This is especially crucial in the IT and ITeS sectors, where vast volumes of sensitive data are handled daily. MFA effectively curbs unauthorized access, thwarting potential breaches. Furthermore, its adaptability to various devices and environments makes it indispensable for safeguarding IT and ITeS infrastructures, driving its dominance in the zero-trust security landscape.

Breakdown of primaries

The study contains various industry experts’ insights, from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 20%

By Designation: C-level – 45%, Directors – 35%, and Managers – 20%

By Region: North America – 35%, Asia Pacific – 30%, Europe – 25%, Middle East & Africa – 5%, Latin America – 5%

Major vendors in the global zero trust security market include Palo Alto Networks (US), VMware (US), Zscaler (US), Akamai (US), Microsoft (US), Cisco (US), IBM (US), Citrix (US), Check Point (US), Trellix (US), Forcepoint (US), CrowdStrike (US), Cloudflare (US), Fortinet (US), Google (US), Qnext (Canada), Illumio (US), ON2IT (Netherlands), Perimeter 81 (US), ThreatLocker (US), Twingate (US), Appgate (US), Zero Networks (Israel), Zentera (US), Xage (US), and Skyhigh Security (US).

The study includes an in-depth competitive analysis of the key players in the zero trust security market, their company profiles, recent developments, and key market strategies.

Research Coverage

The report segments the zero trust security market and forecasts its size by Offering (Solution and Services), Security Type (Network Security, Application Security, Cloud Security, Endpoint Security, and IoT Security), Authentication Type (Single-Factor Authentication and Multi-Factor Authentication), Vertical (Banking, Financial Services and Insurance (BFSI), Government and Defense, IT & ITeS, Healthcare, Retail and eCommerce, Energy and Utilities, other Verticals), and Region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America).

The study also includes an in-depth competitive analysis of the market’s key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall zero trust security market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (rapid adoption of cloud and surge in digital transformation, rising regulatory compliance demands to propel the adoption of zero-trust security, diminishing perimeter security paving the way for zero trust security, and rising threat of sophisticated cyber attacks), restraints (complexity and cost of implementation, legacy systems and compatibility, and organizational resistance to change), opportunities (securing IoT with zero trust solutions: a growing opportunity, leveraging innovation: new zero trust security products and services as an opportunity, and leveraging the surge in zero trust security awareness for market growth), and challenges (weakening of established security perimeters, the growth of business-led IT, a.k.a shadow SaaS, digital supply chain vulnerability, and fragmented security operations and siloed teams)

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the zero trust security market.

Market Development: Comprehensive information about lucrative markets – the report analyses the zero trust security market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the zero trust security market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players Palo Alto Networks (US), VMware (US), Zscaler (US), Akamai (US), and Microsoft (US), among others, in the zero trust security market strategies.