Zero Trust Security Market worth $67.9 billion by 2028 – Exclusive Report by MarketsandMarkets™>
– MarketsandMarkets
Zero-Trust Security Market Worth $67.9 Billion by 2028 – Exclusive Report by MarketsandMarkets
The global zero-trust security market size is projected to reach USD 67.9 billion by 2028, according to a new report by MarketsandMarkets.
It is projected to grow at a CAGR of 19.5% from 2021 to 2028.
The major factors driving the market growth include the increasing attack surface, growing access to cloud services, andrising economic losses resulting from data thefts and data breaches.
The use of zero-trust security solutions for risk assessment across technological, operational, and organizational layers of enterprise infrastructure would increase the market growth.
This is attributed to the introduction of Zero Trust security architecture in enterprises, which verifies an individual’s identity before granting access to any resource across the network.
The identity and account management segment is expected to register the highest CAGR during the forecast period.
Identity and account management solutions primarily offer rapid identification, monitoring, and authentication of users, services, or systems within an enterprise.
Identity and account management (IAM) solutions are expected to play a major role in the market due to the integration of complex identity authentication models into cloud services, their adoption across mobile and Internet of Things (IoT) devices and identification of malicious activities.
North America is expected to dominate the global market during the forecast period.
The regional market in North America is expected to hold the largest market size during the forecast period, due to the early adoption of advanced technologies, presence of major vendors, and the US government’s focus on data security and privacy regulations.
The US accounted for the largest share of the North American market in 2020 and is projected to register the highest growth rate during the forecast period.
Key Market Players
The major players in the zero-trust security market are Palo Alto Networks (US), Duo Security (US), Symantec Corporation (US), Microsoft (US), RSA Security (US), IBM (US), McAfee (US), BeyondTrust (US), F5 Networks (US), Cisco Systems (US), Google (US), Impulse Point (US), SailPoint (US), NetScaler (US), Oracle (US), Forcepoint (US), Auth0 (US), Shape Security (US), Avatier (US), Stealthbits (US), Cortex Engineering Inc. (US), Nexis Secure
Link: https://www.prnewswire.com/news-releases/zero-trust-security-market-worth-67-9-billion-by-2028—exclusive-report-by-marketsandmarkets-301939962.html