Zero Trust Security Market is expected to display a steady growth by 2027| UnivDatos Market Insights

NOIDA, India, Sept. 23, 2022 /PRNewswire/ — According to a new report published by UnivDatos Markets Insights, the Zero Trust Security Market was valued around USD 28 billion in 2020 and is expected to grow at a CAGR of over 16% during 2021-2027. The analysis has been segmented into Security Type (Network Security, Data Security, Endpoint Security, Cloud Security, and Others); Authentication Type (Single-factor Authentication and Multi-factor Authentication); Deployment (On-premises and Cloud); Organization Size (Large Enterprises and SMEs); Industry (Information and Communication Technology, Banking and Financial Services, Retail, Healthcare, and Others); Region/Country.

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The Zero Trust Security market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Zero Trust Security market. The Zero Trust Security market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Zero Trust Security market at the global and regional levels.

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Market Overview

The global zero trust security market is rising on account of the continuously increasing target-based cyber-attacks, the need to reduce business and organizational risks and the digitalization of prominent industry verticals. Moreover, the advancing digital infrastructure in developing countries will also affect its market positively. “Zero Trust” is a security framework, it requires security configurations and status to be authenticated, approved, and continuously validated before all users, inside or outside the corporate network, are granted or retained access to applications and data. Moreover, the increasing losses due to cyber-attacks are one of the most prominent factors driving the adoption of zero trust security.  For instance, according to Internet Crime Complaint Center (IC3), in 2018, the total financial loss due to cybercrime stood at around USD 2.7 Bn/year, which increased to more than USD 4 Bn/year in 2020.

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The global zero trust security market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

  • Based on the security type, the market is divided into network security, data security, endpoint security, cloud security, and others. Among these, the endpoint security segment is expected to witness significant growth during the forecast period owing to the digital transformation of businesses, which has increased the usage of endpoint devices, such as mobiles, laptops, personal computers, and others. The endpoint acts as an entry point to the corporate network, creating an entry point that can be exploited by a malicious attacker. Hence, it is important to protect these endpoints to protect businesses from risky activities and malicious attacks.
  • Based on deployment, the market is classified into on-premises and cloud. Among these, the on-premises segment captured a commendable share of the global zero trust security market in 2020 owing to the high preference for this type of deployment to keep confidential data in-house rather than turning it over to a cloud provider. In addition, on-premises solutions enable hands-on ownership and control of security monitoring, providing a flexible and adaptable security program.

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