Zero Trust Architecture Market worth $38.5 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 13, 2023 /PRNewswire/ -- With its expanding use, integration with identity and access management, AI-driven threat detection, and emphasis on protecting cloud and Internet of Things settings, Zero Trust Architecture (ZTA) has a bright future. ZTA is an essential cybersecurity tactic in the changing digital ecosystem, even though it presents difficulties in terms of simplification and scalability despite providing improved protection.

The global Zero Trust Architecture Market size is projected to grow from USD 17.3 billion in 2023 to USD 38.5 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 17.3% during the forecast period, according to a new report by MarketsandMarkets™. The expansion of the Zero Trust Architecture Market is propelled by the evolving landscape of cyber threats, which demand more robust security measures to counter advanced malware and ransomware.

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331 - Tables
47 - Figures
287 - Pages

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Scope of the Report

Additionally, consolidating digital transformation and widespread cloud adoption drives the demand for zero trust architecture, ensuring continuous authentication and authorization to protect data and applications in interconnected IT environments. Furthermore, the rising emphasis on regulatory compliance intensifies the adoption of zero trust architecture, aligning with industry-specific regulations and enhancing visibility and control during audits. Moving from traditional perimeter security models to the zero trust architecture approach further contributes to the market's growth.

Based on the deployment mode, the cloud will grow at the highest CAGR during the forecasted period.

The exceptional scalability, agility, and cost-effectiveness of cloud-based solutions drive the exponential growth of cloud deployment in the Zero Trust Architecture Market. These solutions offer adaptability that seamlessly accommodates organizations of various sizes, from small businesses to large enterprises, making them versatile for entities experiencing expansion or fluctuating workloads. In addition, agility allows for swift deployment without significant hardware and software investments, a critical feature for organizations responding to emerging security threats and evolving business needs while maintaining robust security.

Moreover, cloud-based solutions are cost-effective, particularly for small and medium-sized businesses, as it eliminates the need for purchasing and maintaining hardware and software, reducing overall expenses. The increased adoption of cloud computing further fuels the demand for these solutions, as organizations transitioning to the cloud require tailored security measures for cloud-based data and applications. These solutions are purpose-built to secure assets during cloud migration, solidifying their role as a vital component in the continually evolving landscape of cybersecurity.

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By offering, the solutions segment accounts for the highest market size during the forecast period.

The solution segment has the largest market size in the zero trust architecture due to its pivotal role in addressing the complexity. Zero trust architecture is a complex security framework necessitating diverse solutions for effective implementation and management. These solutions encompass identity and access management (IAM), micro-segmentation, network access control (NAC), and security analytics. As the adoption of zero trust accelerates, organizations increasingly recognize the need for a more comprehensive security strategy, boosting the demand for solutions. With various vendors offering various solutions, organizations can select options that align with the specific requirements and budgets. The need for customization further propels the demand for adaptable solutions, ensuring tailored security measures for each organization.

Moreover, the solutions' growth within the market is further spurred by the escalating sophistication of cyberattacks and the rising incidence of data breaches. Organizations are awakening to the realization that conventional security methods are insufficient in safeguarding them against the evolving threat landscape. Zero trust solutions, with their comprehensive security approach, empower organizations to shield their data and systems from various cyber threats, making them indispensable in modern cybersecurity.

By region, Asia Pacific will grow at the highest CAGR during the forecast period.

The Asia Pacific region is growing at the highest rate in the Zero Trust Architecture Market due to its rapid digital transformation, which has driven organizations to adopt technologies like cloud computing, IoT, and AI. While this transformation offers numerous opportunities, it has exposed these businesses to an escalating array of cyber threats, including ransomware attacks, insider threats, and supply chain vulnerabilities. Zero Trust Architecture is gaining prominence as a vital cybersecurity strategy. By implementing zero trust, organizations can fortify their defenses against cyberattacks and comply with the increasingly stringent government regulations in the region. This growing awareness highlights the need for comprehensive security solutions like zero trust to safeguard critical data and systems.

Top Key Companies in Zero Trust Architecture Market

Palo Alto Networks (US), VMware (US), Zscaler (US), Akamai (US), Microsoft (US), Cisco (US), IBM (US), Citrix (US), Check Point (US), Trellix (US), Forcepoint (US), CrowdStrike (US), Cloudflare (US), Fortinet (US), Google (US), Netskope (US), Perimeter 81 (US), Twingate (US), Appgate (US), Zero Networks (Israel), Versa Networks (US), Axis Security (US), Ivanti (US), NordLayer (US), and GoodAccess (Czech Republic) are the key players and other players in the zero-trust architecture market.

Recent Developments

·  In April 2023, Palo Alto Networks and Accenture joined forces to bolster cyber resilience with integrated Prisma SASE solutions. This partnership streamlines zero trust network access, effectively addressing security concerns for remote workforces.

·  In April 2023, Cisco and Microsoft unveiled a collaborative Secure Access Service Edge (SASE) cloud architecture, merging networking and security with a zero-trust approach. This strategic alliance optimizes Microsoft application performance, reinforces security, and bolsters extended detection and response capabilities.

·  In May 2023, Zscaler forged a strategic partnership with the Center for Internet Security (CIS) to bolster cybersecurity for state, local, tribal, and territorial governments by leveraging the CIS CyberMarket. Through this partnership, Zscaler's Zero Trust Exchange brings forth budget-friendly, cutting-edge zero trust solutions to safeguard against the ever-evolving landscape of cyber threats.

·  In June 2022, VMware partnered with NIST's NCCoE to streamline zero trust architecture deployment, offering practical insights and use cases for diverse business needs, ultimately simplifying the design process.

·  In May 2022, Fujitsu and Akamai formed a strategic alliance to bolster cybersecurity measures for Australian companies, safeguarding critical infrastructure and digital assets. This partnership aimed to provide cutting-edge defense against ransomware and cyber threats.

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Zero Trust Architecture Market Advantages

·  ZTA eliminates the assumption of trust by demanding constant user and device verification, which lowers the attack surface and lowers the chance of data breaches.

·  ZTA is a resilient security method because it may change to meet new threats and technological advancements.

·  ZTA is a good fit for protecting mobile and remote workforces, which is essential in the modern digital workplace.

·  ZTA enforces stringent access control and auditing procedures to assist organisations in meeting regulatory compliance standards.

·  ZTA restricts the lateral movement of threats within a network by applying micro-segmentation.

·  ZTA supports current IT infrastructures by integrating smoothly with Secure Access Service Edge (SASE) frameworks and cloud-native security solutions.

Report Objectives

·  To define, describe, and forecast the Zero Trust Architecture Market by – offering, organization size, deployment mode, vertical, and region.

·  To forecast the market size of five main regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America

·  To analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall market

·  To provide detailed information related to the primary factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Zero Trust Architecture Market

·  To analyze opportunities in the market for stakeholders by identifying high-growth segments of the Zero Trust Architecture Market

·  To profile the key players of the Zero Trust Architecture Market and comprehensively analyze their market size and core competencies in the market

·  Track and analyze competitive developments, such as new product launches, mergers and acquisitions, partnerships, agreements, and collaborations in the global Zero Trust Architecture Market.

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