Zero Trust Security market is estimated to be valued at USD 21,673.9 million in 2021 and is poised to grow at a significant CAGR of 19.5% over 2022-2028. Zero-trust security is a new sort of cyber-security that operates on the zero-trust concept. Before joining the secure network, each insider and outsider is required to give valid authentication. The rising frequency of targeted cyber-attacks, as well as increased laws for data protection and information security, are some of the primary factors driving the zero-trust security industry. During the forecast period, the growing demand for cloud-based zero-trust security solutions among SMEs would present possibilities for the zero-trust security market. Based on the deployment model the zero-trust security market is segmented into on-premises and cloud. The cloud segment is anticipated to grow at a significant CAGR over the forecast years owing to the growing usage of cloud technology across businesses drives the demand for zero-trust cloud security. The retail, information technology, telecommunications, healthcare, and industrial industries are increasingly transitioning to cloud infrastructure because it enables more agility and scalability while being less expensive to operate. However, the threat to data presented by unauthorized access to the public cloud has influenced the rate of cloud infrastructure adoption. To achieve a smooth transition and multi-layered protection, organizations going to the cloud with security use zero-trust security. This is likely to fuel segment expansion throughout the projection period. The rise in cybercrime, internal data breaches, the proliferation of endpoint devices, and the increased usage of cloud technologies are key drivers driving the growth of the zero-trust security market.
Recent Market Developments:
In October 2021, the Akamai acquired Guardicore. Guardicore’s leading micro-segmentation products will be added to Akamai’s comprehensive portfolio of Zero Trust solutions for safeguarding the critical assets at the core of the network.