Zero Trust Security Solutions Market: Introduction
- 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.
Zero Trust Security Solutions Market: Dynamics
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
- Key players in the global zero trust security solutions market are listed below:
- Akamai Technologies, Inc.
- Palo Alto Networks, Inc
- Symantec Corporation
- OKTA, Inc
- Centrify Corporation
- Cyxtera Technologies
- SophosGroup PLC
- Google LLC
- Microsoft Corporation
- VMware, Inc
- Trend Micro Inc.
- Cloudflare, Inc
- IBM Corporation
- Check Point Software Technologies
Figure: Global Zero Trust Security Solutions Market, by Competitive Landscape
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Global Zero Trust Security Solutions Market: Research Scope
Global Zero Trust Security Solutions Market, by Deployment Model
- On - premises
- Cloud based
Figure: Global Zero Trust Security Solutions Market, by Deployment Model
Global Zero Trust Security Solutions Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
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Global Zero Trust Security Solutions Market, by Industry
- IT & Telecommunication
- Retail & E-commerce
- Energy and Utility
Global Zero Trust Security Solutions Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Figure: Global Zero Trust Security Solutions Market, by Region
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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10. What will be the barrier to entry for new players in the market?
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