The Rise of Zero Trust Architecture Market: A $38.5 billion Industry Dominated by Tech Giants - VMware (US), Zscaler (US), Akamai (US) | MarketsandMarkets™

/EIN News/ -- Delray Beach, FL, Nov. 12, 2024 (GLOBE NEWSWIRE) -- The 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 shift towards zero trust architecture has gained momentum due to the amalgamation of digital transformation and widespread cloud adoption. This transformation creates intricate IT landscapes with increased attack surfaces, necessitating robust security. Moreover, regulatory compliance pushes organizations to adopt zero trust principles, aligning with standards like GDPR and HIPAA. This approach mitigates data breach risks and simplifies compliance during audits.

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Zero Trust Architecture Market Dynamics:

Drivers:

• Evolution of cyber threats spurs growth of robust network segmentation
• Digital transformation and cloud adoption drive zero trust architecture demand
• Rising emphasis on regulatory compliance driving adoption of zero trust architecture
• Shift from perimeter security to embrace zero trust architecture drives market

Restraints:

• Legacy systems impact zero trust adoption
• Complexity and cost of implementation

Opportunities:

• Growth in IoT adoption creates opportunities for zero trust architecture
• Expanding opportunities in zero trust architecture and services
• MSS demand drives zero trust architecture growth opportunity

List of 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)

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Additionally, conversion from traditional perimeter security models to zero trust provides more effective protection in today’s evolving digital landscape. Zero trust architecture based on continuous authentication, micro-segmentation, and behavior-based threat detection addresses the limitations of legacy security paradigms. It offers enhanced security, greater flexibility, and streamlined compliance efforts. As cyber threats evolve, robust network segmentation, mainly through micro-segmentation, proves crucial in isolating critical data and limiting the impact of potential breaches. Consequently, zero trust architecture has emerged as a vital solution for organizations seeking comprehensive security and compliance in the face of evolving cyber threats.

Trend: Artificial Intelligence and Machine Learning

The artificial intelligence and machine learning trend in the zero trust architecture market involves automating critical tasks such as user and device profiling, real-time threat detection and response, and consistent policy enforcement. These technologies enhance security by analyzing behavior, minimizing breaches, and reducing human error, ensuring uniform security controls.

Trend: Cloud-native zero trust

Cloud-native zero trust in the zero trust architecture market is gaining traction due to the rising adoption of cloud computing, increasing cyberattack sophistication, and compliance requirements. This security approach, designed for cloud environments, enforces the least privilege, leveraging technologies like micro-segmentation, encryption, and continuous authentication to safeguard cloud assets, addressing organizations’ evolving security challenges.

Trend: IAM

IAM trend within the zero trust architecture market emphasizes a user-centric approach to security, shifting focus from devices to users. It relies on risk-based authentication to assess access requests based on factors like user identity and device. Furthermore, integrating cloud-based IAM solutions is growing, providing scalability and cost-efficiency, ensuring a seamless user experience in the zero trust framework.

By offering, the services segment accounts for the highest CAGR during the forecast period

The rapid growth of services in the zero trust architecture market can be attributed to the increasing demand for enhanced security in a highly interconnected digital landscape. The complexity of zero trust architecture implementations has necessitated the involvement of managed security service providers (MSSPs), as zero trust architecture solutions require a deep understanding of security principles and technologies. Many organizations lack the in-house expertise necessary for effective zero trust architecture implementation and management, driving them to seek assistance from MSPs. These providers offer numerous advantages, including specialized knowledge, scalability, and cost savings, enabling organizations to implement and manage zero trust architecture solutions more efficiently and securely.

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By deployment mode, the cloud segment accounts for a larger market share.

The dominance of cloud-deployed solutions in the zero trust architecture market can be attributed to several key factors, such as the maturity of cloud computing environments in numerous organizations, which is a significant driver. Cloud-based zero trust solutions can quickly scale to meet the changing needs of an organization. As businesses grow or adapt to new challenges, cloud deployments can rapidly expand or adjust without significant upfront investments in hardware or infrastructure. The rise of remote work and the need for secure access from anywhere has made cloud deployments an attractive option. With cloud-based zero trust solutions, employees can access resources securely from various locations, making it well-suited for today’s distributed workforces.

Opportunity: Rising IoT adoption drives zero-trust architecture for enhanced security.

The widespread adoption of IoT devices across industries fuels a surge in IoT traffic, amplifying the threat landscape for cyberattacks. Organizations dealing with sensitive data are turning to the zero-trust architecture to counter these challenges. It empowers security professionals with enhanced visibility, monitoring network traffic, user access, and application usage. The sheer volume of IoT-generated queries and diverse user access locations can overwhelm manual security efforts. Zero trust architecture thoroughly inspects all network traffic, effectively identifying malicious activities and ensuring robust security. Industries like BFSI, healthcare, and government sectors are integrating this approach to enforce strict security policies and monitor user IoT device activities with predictive analytics. This growing demand for robust security in an interconnected IoT-driven world presents significant growth opportunities for established and emerging players in the zero-trust architecture market.

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