Zero Trust Security Solutions Market

Zero Trust Security Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Zero trust security solutions is an IT security model which requires identity verification per person or device/machine which tries to connect or access a private network. Increasing network connected devices, machine to machine communication, and rising cyber attacks have acclerated the demand for zero trust security solutions.

Increasing cyber attacks driving demand for zero trust security solutions market

Rising cyber attacks globally is a major factor accelerating the demand for zero trust security solutions. For instance, in May 2019, Baltimore City municipality’s computer systems were impacted by a cyber attack. Attackers sucessfully infiltrated computer systems and encrypted data files. To overcome this ransomeware attack, Baltimore City officially invested US$ 18 million. Similarly, in June 2019, the Western Connecticut School District was hit by a ransomeware attack. Thus, increasing cyber attacks are accelerating the demand for advance cyber security solutions which simultaneously spurs the zero trust security solutions market.

North America to hold major share of the global zero trust security solutions market

Based on region, the zero trust security solutions market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
North America held dominant position in the global zero trust security solutions market in 2018 followed by Europe. It is expected to maintain its dominance during the forecast period. The U.S. and Canada are major countries that drive the zero trust security solutions market in the region. The presence of several prominent market players such as Microsoft Corporation, Google LLC, and IBM Corporation who provide advanced solutions to different industries in North America drives the market in this region. Moreover, countries in North America are among the earliest adopters of emerging technologies that help to retain the dominating position of the region in the market.
The zero trust security solutions market in Asia Pacific is estimated to expand at a high CAGR during the forecast period. India, China, Japan, and Australia are key countries that drive the zero trust security solutions market in the region.

Cloud based deployment model segment expected to expand at the highest CAGR

Based on deployment model, the zero trust security solutions market can be bifurcated into on-premises and cloud based. The cloud based segment is anticipated to expand at the highest CAGR during the forecast period. Deployment of cloud based zero trust security solution models help companies to provide advance IT security Moroever, the increasing adoption of cloud based applications or solutions by different industries due to need for IT cost deduction have also acclerated the cloud based segment in the zero trust security solutions market.
Based on enterprise size, the market can be split into small & medium enterprises and large enterprises. The large enterprise segment is projected to account for notable share of the market by the end of 2019. Increasing demand for realtime data and advance security solutions for various applications such as networking and data centers to protect them from cyber attacks have provided the dominant position in the market. The small and medium enterprises segment is estimated to rise at the highest CAGR during the forecast period owing to increasing number of startups majorly in developing countries.

Key Players Operating in the global Zero Trust Security Solutions Market