Home » cybersecurity » Zero Trust Security Market Size

Zero Trust Security Market Size

The global “Zero Trust Security Market Size” is estimated to reach a whopping USD 57.34 billion by 2027, according to new research. The growing need for End-to-End trust and increased cyber security concerns due to escalating cybercrimes have propelled the growth of Zero Trust Security Market Size. With organizations developing sophisticated Zero Trust security strategies that prevent threats from compromised users and unprotected devices, the demand for Zero Trust Security continues to soar. Zero-Trust security solutions offer risk- and identity-aware access control, visibility into user activities, and a secure-by-default approach that ensures the security of the data. As enterprises continue to adopt this method, the Zero Trust Security Market Size will rise significantly.

1. What is Zero Trust Security?

Zero Trust Security is a security model based on the principle of always verifying the identity and intent of users, networks, and applications. It ensures that all resources and services are protected and only authorized users and processes can access them.

It is different from the traditional security model of “trust but verify”; instead, it’s a model of “never trust but always verify”. This means that even trusted users, networks, and applications must be authenticated and verified before granting access.

Zero Trust Security involves five core principles: authentication, least privilege, encryption, continuous monitoring, and identity access management. Authentication, for instance, requires that users are constantly verified to ensure they are authorized. Least privilege assigns users the least amount of access necessary for their roles, while encryption safeguards data in transit. Identity access management takes care of user access rights and virtual private networks (VPNs) maintain data privacy. Lastly, continuous monitoring verifies user identities and activities to detect anomalies.

2. The Market for Zero Trust Security Growing

The demand for zero trust security solutions is growing rapidly as businesses look for ways to increase their cyber security. Businesses no longer trust all traffic, but instead employ a ‘zero trust’ approach to put an extra layer of security around their systems. Here are just a few reasons why the zero trust security market is growing:

  • Rising data breaches – As more data breaches occur, businesses are becoming more aware of the need for stringent security frameworks to protect their valuable data.
  • Cost-effectiveness – Zero trust security solutions are proven to be much more cost-effective than traditional security systems.
  • Data security compliance – Businesses are increasingly looking to move to zero trust models to comply with data security regulations.

What’s more, zero trust security solutions are becoming increasingly sophisticated, with better analytics and AI capabilities, meaning they can better detect and prevent cyber threats before they occur. Therefore, as businesses become more security-conscious, the market for zero trust security solutions is likely to continue to grow.

3. Big Benefits of Zero Trust Security

1. Increased Security and Visibility: Zero Trust Security provides an extra layer of security by scrutinizing all activity on the network by verifying every user or device, regardless of their location or the network they are on. This helps to prevent any unauthorized access to data and provides much-needed visibility into all activities that are taking place on the network. Moreover, it can also identify potential malicious activities quickly and take the necessary steps to protect your business data against cyber breaches.

2. Increased Productivity: Zero Trust Security simplifies workflow and helps to increase productivity by streamlining access control processes. This means that employees no longer have to wait for lengthy authentication processes or be unnecessarily prohibited from accessing certain data. With Zero Trust Security, employees can quickly access the resources they need to get the job done without the risk of exposing sensitive data to the wrong people. Additionally, its multi-factor authentication process helps to ensure that only authorized individuals have access to protected data.

  • It provides an extra layer of security when verifying users or devices.
  • Enables quick access to resources with multi-factor authentication.
  • Identifies potential malicious activities quickly.
  • Streamlines access control processes.
  • Increases visibility into all network activities.

4. The Future is Bright for Zero Trust Security Market

The market for zero trust security has seen exponential growth in recent times, reaching an estimated value of around US$7 billion in 2020. This growth is expected to continue in the near future, with predictions of a 22.3% CAGR from 2021 to 2027. This rapid growth has been driven by the adoption of cloud computing and IoT devices and the increasing inclination of organizations to deploy security solutions as a primary defense against online threats.

The growing prevalence of cyber-attacks has been instrumental in driving the zero trust security market forward. It has created a higher demand for other IT security solutions, such as authentication and authorization, encryption, and access control. This means that there is a promising future for the market, with more and more organizations investing in higher-grade technological solutions to bolster their cybersecurity defenses.

  • Cloud Computing and IoT: Zero trust security will likely benefit from the rapid growth of cloud computing and the increased use of IoT devices.
  • Increasing Prevalence of Cyber-Attacks: Cyber-attacks have become increasingly common, causing organizations to invest in better security solutions.
  • High Demand for Security Solutions: The need for authentication, authorization, encryption, and access control is driving the demand for zero trust security.

Q&A

Q: What is Zero Trust security?
A: Zero Trust security is a way of protecting networks from cyber attacks. It’s based on requiring strict authentication for all users and devices trying to access a network, regardless of their location or identity.

Q: What is the size of the Zero Trust security market?
A: The global Zero Trust security market was valued at around $9.85 billion in 2019 and is estimated to reach $54.51 billion by 2027, growing at a CAGR of 24.1% during the forecast period 2020-2027.

Q: What factors drive the growth of the Zero Trust security market?
A: Factors driving the growth of the Zero Trust security market include the growing need for advanced security solutions to protect organizations from increasing cyber threats, increased adoption of cloud services, and the emergence of government initiatives promoting Zero Trust security regulations. Zero trust security is a must-have for any business’s cybersecurity. As the zero trust security market size continues to grow, it is now more important than ever for businesses of all sizes to take the necessary steps to protect their data and digital assets. One of the best ways to do this is to create a free LogMeOnce account which offers Identity Theft Protection and Dark Web monitoring. By visiting LogMeOnce.com, businesses can ensure their vital information is securely protected against data breaches and other cyber attacks. With spending on global zero trust security products predicted to reach $37.3 billion by 2024, investing in identity protection today will help safeguard your future.

Search

Category

Protect your passwords, for FREE

How convenient can passwords be? Download LogMeOnce Password Manager for FREE now and be more secure than ever.