The global zero trust security market is estimated to augment due to the rise in cybercriminals who are successful in breaching security of organizations systems. Covid-19 pandemic is predicted to leave a positive impact on the market.
NEW YORK, May 12, 2021 /PRNewswire/ -- According to a new report offered by Research Dive, the Global Zero Trust Security Market is projected to surpass $66,741.3 million, increasing from $18,500.0 million in 2019, at a CAGR of 17.6% from 2020 to 2027 timeframe.
Covid-19 Impact on the Zero Trust Security Market
The global zero trust security market is expected to witness a positive growth in the estimated timeframe. This growth is attributed to the vast usage of digital technologies such as cloud services, due to work from home trend, internet connectivity, and utilization of BYOD device. Furthermore, VPN (Virtual Private Network) security measures and increase in the demand for cyber-security is also estimated to surge the growth of the market during the forecasted period.
Access Our Comprehensive Analysis of the Impact of Covid-19 on Zero Trust Security Market
Factors Affecting the Zero Trust Security Market Growth
The global zero trust security market is estimated to augment due to the rise in cybercriminals who are successful in breaching security of organizations systems. Threats and targets on network systems are on the rise in the recent years, for stealing vital information. These aspects are predicted to drive the global market in the forecasted period. However, high cost regarding the incorporation of zero trust security solutions is stipulated to hinder the market growth. On the other hand, increase in the demand for high quality visibility of users accessing network from various places is expected to create opportunities in the market during the forecasted period.
The report classifies the report on the basis of solution type, deployment, authentic type, organization size, vertical type, and regional outlook. -Download FREE Sample of ZERO Trust Security Market Report
End-Point Security Sub-Division to Hold the Largest Share
From the solution type division, the end-point security sub-division was accounted for $38,47.2 million in the year 2019, enhancing at a CAGR of 16.50% during the timeframe. The sub-division market surge is attributed towards the usage of technologies such as artificial intelligence, cloud, connected devices, and internet of things by company organizations.
On-Premise Sub-Division to be the Most Profitable
From the deployment division, the on-premises sub-division is estimated to garner a revenue of $29,914.1 million by the end of 2027, from a market size of $10,511.4 million in 2019. Augmentation in the desire to build trust, support local, changing work patters, and community spirit is expected to drive the sub-division market during the timeframe.
Large Enterprise Sub-Division to Grow Rapidly
Among organization type, the large enterprise sub-division is predicted to generate a revenue of $34,498.3 million by 2027, from a market size of $12,152 million in 2019. The sub-division growth is due to higher salaries provided by the large enterprises as compared to the small and medium enterprises.
Multi-Factor Authentic Type Sub-Division to Achieve Maximum Revenues
The multi-factor authentic type sub-division is predicted to cross $38,629.0 million by 2027, rising from a market share of $9,781.4 million in 2019 during the forecasted timeframe. Rise in the amount of online transactions is considered as the main reason for the growth of the sub-division market in 2020-2027.
Retail Type Sub-Division to Gain Massive Profits
Among the vertical, the retail type sub-segment is estimated to cross $15,642.9 million by 2027, rising from $4,520.8 million in the year 2019 during the timeframe. Expansion of marketing channels and sales like mobile & social commerce is expected to boost the sub-division market growth from 2020 to 2027.
Regional Analysis: North America Zero Trust Security Market
The North American market of zero trust security, was held at $5864.5 million in 2019 and is expected to reach $19,955.6 million by 2027. The market is on the rise due to escalation in the internet users, stringent rules by government for businesses, and surge in the adoption of IoT devices. - Inquire Before Purchase: Strategic Overview of Zero Trust Market in the North America Region
Top 10 Market Players and Business Strategies
The leading players of the global zero trust security market are
1. McAfee Corporation
2. IBM Corporation
3. Fortinet
4. Symantec Corporation
5. FireEye
6. Cisco Systems
7. Akamai Technologies
8. Palo Alto Networks
9. Okta, Inc
10. Check Point Software Technologies.
These players are aiming for product developments and launches to gain an upper edge in the market worldwide. For instance, in March 2021, Xage, a zero trust real-world security company, declared the launch of its zero trust remote access solution via cloud. The company is offering critical features that safeguard remote accessibility for OT environments. - Inquire and Get Quick Access to Top Companies Development Strategies Summary Report [80 pages]
More about ZERO Trust Security:
Global Zero Trust Security Market: Propelling with the Growing Incidents of Cyber-Attacks
Top 5 Reasons Why Enterprises Should Implement Zero Trust Security
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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