Global Zero Trust Security Market Scenario
As per the research by Market Research Future Reports (MRFR), the global Zero Trust Security Market is anticipated to record a CAGR of 15.4% and value USD 32.15 billion by the end of 2025. The increasing target-based cyber-attacks is the most significant factor driving the global zero trust security market 2020. Moreover, there has been an increasing initiative by governments that are augmenting the global zero-trust security market. Moreover, it integrates various technologies. It assures reliability, simple, and cost-effectiveness, which is estimated to be a significant factor in driving the global market. Besides, there has been development in machine learning, which further makes the security sector stronger. In addition, the established and the upcoming entities are inclining towards the cloud-based technology, which is likely to augment the market. The competitors are adopting innovative methods to retain their position in the market. However, the inefficient budgets allotted by the SMEs can act as a restricting factor in the market expansion.
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The research performed by MRFR tracks the aftermath of the COVID-19 pandemic. Furthermore, a precise evaluation of factors augmenting and impeding the market in the post-COVID-19 environment has been analyzed. We will provide COVID-19 impact analysis with the report.
The worldwide zero trust security market can be segmented on the grounds of solution type, deployment, authentication type, organization size, and region.
Based on solution type, the global zero trust security market can be classified into security policy management, network security, data security, API security, endpoint security, security analytics, security orchestration automation and response (SOAR), and others.
Based on deployment, the worldwide zero trust security market can be classified into on-premise and cloud.
Based on the authentication type, the worldwide zero trust security market can be classified into multi-factor authentication and single-factor authentication.
Based on organization size, the worldwide zero trust security market can be classified into small- and medium-sized enterprises (SME) and large enterprises.
Based on vertical, the worldwide zero trust security market can be classified into IT & telecom, banking, financial services, and insurance, government & defense, healthcare, retail & e-commerce, energy & power, and others.
On the basis of region, the worldwide zero trust security market can be classified into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
The regional study of North America, Europe, Asia-Pacific, the Middle East & Africa, and South America has been conducted. The market is estimated to expand significantly during the forecast period. As per the analysis by MRFR, North America is estimated to seize the maximum market share since it is the most technically developed region. Besides, the adoption of digitalization is very fast, which augments the market region. Among all nations, the US makes the most significant contribution to market expansion. On the other hand, the Asia-Pacific region is anticipated to be the fastest-growing market during the assessment period. The most significant reason for market expansion is the increasing adoption of cloud-based technologies, which has resulted in frequent cyber-attacks.
However, the outbreak of pandemic coronavirus has affected several regional markets. The constant lockdown observed in several regions has changed the structure of the existing market.
The established competitors of the worldwide zero-trust security market are IBM Corporation (US), Cisco Systems, Inc (US), Akamai Technologies (US), Check Point Software Technologies (Israel), Google (US), Pulse Secure (US), Symantec Corporation (US), Palo Alto Networks, Inc. (US), OKTa (US), Forcepoint (US), Cloudflare (US), Centrify (US), Illumio (US), Cyxtera Technologies (US), Sophos Group PLC (UK) and a few others.
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