Global Zero Trust market projected to grow from USD 31.1 billion in 2023 to USD 67.9 billion by 2028.
A new report: “Global Zero Trust Security Market by Offering (Solution and Services), Security Type (Network Security, Application Security, Cloud Security, and Endpoint Security and IoT Security), Authentication Type, Vertical and Region – Forecast to 2028” has been published by ResearchAndMarkets.com.
The global zero trust security market size is projected to grow from USD 31.1 billion in 2023 to USD 67.9 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 16.9%.
This approach, centered on continuous authentication and access verification, is essential for mitigating risks in interconnected IT environments. The report states: “Traditional perimeter-based security measures are proving inadequate in the face of evolving threats, making Zero Trust security a critical safeguard for organizations in the modern era.”
The IT & ITeS vertical holds the largest market share in the zero trust security market due to its unique combination of factors, as the vertical deals extensively with sensitive data, including customer financial information and intellectual property, making robust security measures imperative.
Its intricate IT infrastructure, encompassing diverse devices and networks, demands a modern approach like zero trust security for adequate protection. Moreover, compliance requirements like GDPR and PCI DSS are stringent, and zero trust security offers a comprehensive framework for adherence.
With a remote workforce becoming commonplace, zero trust’s capability to verify user identity and authorization, irrespective of location, further solidifies its dominance in this market, according to the report.
Multi-factor authentication holds the largest market share in the zero-trust security market due to its pivotal role in fortifying identity verification. It addresses critical security concerns by necessitating multiple forms of identity validation, enhancing user trustworthiness. This is especially crucial in the IT and ITeS sectors, where vast volumes of sensitive data are handled daily.
MFA effectively curbs unauthorised access, thwarting potential breaches. Furthermore, its adaptability to various devices and environments makes it indispensable for safeguarding IT and ITeS infrastructures, driving its dominance in the zero-trust security landscape.
