Zero Trust Architecture Market Future Trends, Growth Factors and Leading Players
The zero trust architecture market size is projected to grow from $17.3 billion in 2023 to $38.5 billion by 2028, at a CAGR of 17.3% during the forecast period.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=207388489
Key Drivers of Market Growth
The zero trust architecture market trends indicate a significant shift toward more robust security measures due to the evolving cyber threat landscape. The increase in advanced malware and ransomware attacks, coupled with the consolidation of digital transformation and widespread cloud adoption, is driving the demand for zero trust architecture. This approach ensures continuous authentication and authorization to protect data and applications in interconnected IT environments. Furthermore, the rising emphasis on regulatory compliance and the need for enhanced visibility and control during audits are intensifying the adoption of zero trust architecture, contributing to the market’s growth.
Cloud Deployment Leading the Market Growth
The cloud deployment mode is expected to grow at the highest CAGR during the forecast period. The scalability, agility, and cost-effectiveness of cloud-based solutions are key factors driving their adoption in the zero trust architecture market. These solutions are versatile, accommodating organizations of various sizes, and are particularly beneficial for businesses experiencing expansion or fluctuating workloads. The agility offered by cloud deployment allows for swift implementation without significant hardware investments, making it ideal for responding to emerging security threats and evolving business needs. Moreover, the cost-effectiveness of cloud-based solutions, particularly for SMEs, is enhancing their popularity, further fueling market growth.
Solutions Segment Dominating the Market
In terms of offerings, the solutions segment holds the largest market size in the zero trust architecture market. This is due to the complex nature of zero trust architecture, which requires diverse solutions such as identity and access management (IAM), micro-segmentation, network access control (NAC), and security analytics for effective implementation and management. The increasing sophistication of cyberattacks and the rising incidence of data breaches are driving the demand for comprehensive security strategies, boosting the adoption of zero trust solutions. Organizations are increasingly recognizing the need for these solutions to protect their data and systems against the evolving threat landscape, making them crucial in modern cybersecurity.
Asia Pacific Emerging as a Key Growth Region
The Asia Pacific region is expected to register the highest CAGR during the forecast period. Rapid digital transformation in the region has led to widespread adoption of technologies like cloud computing, IoT, and AI, exposing businesses to a growing array of cyber threats. The implementation of zero trust architecture is becoming a critical cybersecurity strategy for organizations in Asia Pacific, helping them fortify their defenses against cyberattacks and comply with stringent government regulations. This growing awareness and the need for comprehensive security solutions like zero trust are driving the region's rapid market growth.
Key Market Players
The zero trust architecture market includes major players such as 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), Netskope (US), and others.
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/