The “Global Zero Trust Security Market By Solution Type, By Authentication Type, By Organization Size, By Deployment Type, By Vertical, By Region, Industry Analysis and Forecast, 2020 – 2026” report has been added to ResearchAndMarkets.com’s offering.
Bengaluru, NFAPost: The Global Zero Trust Security Market size is expected to reach $54.6 billion by 2026, rising at a market growth of 18.8% CAGR during the forecast period. The principle of zero-trust is basically does not trust any entity outside or inside the company with an aim to maintain the security. When a person wants to access a company’s network, that person needs to get verified from the systems.
Zero-trust solutions help the security teams to place policies correctly in order to authenticate each connection attempt and all the gadgets to intelligently limit the access.
Under the zero-trust models, each access request is seriously validated, authorized under the policy constraints, and examined the oddity before allowing access. Everything attached to the user’s identity to the application’s hosting environment is utilized to safeguard the network from breaches.
The outbreak of the COVID-19 pandemic has shown a rapid shift in remotely working employees. With the given access through remote connectivity, the newly trained mobile workforce, and the prospects for restricted security reviews, cybercriminals are anticipated to get the benefits of the weak networks to get access to the internal networks.
In recent years, zero-trust security has developed enormously, which uses an identity provider to get access to the applications and identifies the validation rights on the basis of the user & the gadgets. Basic authorization rights may include gadget & user identity validation to examine if the enterprise operates these gadgets.
Moreover, the growth of the market is expected to be augmented by the increasing number of cyber vulnerabilities owing to the adoption of cloud-based services & rising digitalization.
Along with this, government regulations like the General Data Protection Regulation (GDPR) of the European Union and the California Consumer Privacy Act (CCPA) of California, the US are some of the reasons that is expected to open the new growth avenues for the zero-trust security market. Additionally, the growth of the market is expected to be hindered due to budget constraints of small and medium enterprises.
In recent times, the BFSI industry has faced many advanced & persistent attacks that include ransom ware, malware, social engineering & phishing attacks, rootkits, file-less malware, and injection attacks. The majority of the BFSI end users are opting for cloud in comparison to the on-premise infrastructure, which is resulting in the high adoption of zero-trust security solutions.
Companies operating in the business domain are aiming for cutting-edge technology for making solutions that created new growth prospects for the market.
The major strategies followed by the market participants are Acquisitions and Partnerships.
Based on the Analysis presented in the Cardinal matrix; Google, Inc. and Microsoft Corporation are the forerunners in the Zero Trust Security Market. Companies such as Cisco Systems, Inc., Palo Alto Networks, Inc., and Check Point Software Technologies Ltd., Akamai Technologies, Inc., IBM Corporation are some of the key innovators in the market.
Cisco Systems, Inc.,
Akamai Technologies, Inc.,
Palo Alto Networks, Inc.,
Check Point Software Technologies Ltd.,