WESTFORD, Mass., July 8, 2024 /PRNewswire/ -- According to
SkyQuest, the global Zero Trust Security Market size was
valued at USD 25.5 billion in 2022
and is poised to grow from USD 31.6
billion in 2023 to USD 99.7
billion by 2031, growing at a CAGR of 15.5% during the
forecast period (2024-2031).
Zero trust facilities provide secure access to cloud-based apps
and data. Organizations need to develop robust data protection
mechanisms to comply with stringent data privacy regulations such
as the GDPR and CCPA. Companies using the mistrust policy are
playing an increasing role in industries as a primary security
system. The traditional range-based model is being abandoned. Large
tech companies are buying security services without guarantees to
improve security services.
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overview:
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Zero Trust Security Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
USD 31.6
billion
|
Estimated Value by
2031
|
USD 99.7
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 15.5%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Offering, Deployment,
Authentication Type and End-User
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Increasing Adoption of
Cloud Technology
|
Key Market
Drivers
|
Increasing Number of
Cyber Threats and Data Breaches
|
Segments covered in Zero Trust Security Market
are as follows:
- Offering
- Deployment
- Cloud, On-premise, Multi-Cloud/Hybrid
- Authentication Type
- Multi-Factor Authentication, and Single-Factor
Authentication
- End-User
- IT and Telecom, BFSI, Manufacturing, Healthcare, Energy and
Power, Retail, Government, Other Industries
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report:
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BFSI Sector: Verifying Endpoints with Confidence
The BFSI sector is optimal for implementing zero trust security
solutions, as being the segment most susceptible to such threats
and subjected to strict legal restraints. BFSIs have identified key
factors to explain why who must invest in cybersecurity, such as
the increasing number of ransomware attacks, regulations and forced
labor. In short, remote employees and third parties also have
additional information as it is difficult to express themselves.
The introduction of zero trust security market is accelerating in
this sector due to widespread adoption.
Healthcare organizations are now rapidly adopting trustless
security, as the need for improved access control and protection of
patient data is essential. Lack of trust through a minimum
privilege policy make it possible for doctors to access all patient
records simultaneously. This access is the important one as it is
often the target of cybersecurity threats so issues with patient
data being breached security and industry compliance makes
healthcare one of the fastest growing markets for trust-free
security solutions.
Empowering Multifactor Authentication Segment: Zero Trust
Security for Every Role
A key segment in the zero trust security market is multifactor
authentication. Companies such as Microsoft, Google and the
industry identified the most reliable way to deal with security
attacks as Multi-Factor Authentication (MFA) with a ranking of 99.
It also found that 9% of automated bot threats have been blocked
for therefore it established its trust to enhance security. This
great success rate of zero trust security encourages the use of MFA
as an important prospective means of constantly obtaining and
verifying its authorization. MFA is gaining popularity among
organizations for mitigating new and improved threats as its
adoption helps expand the zero security market among organizations
to protect their valuable assets.
The single-factor approach uses only one credential for
authentication, such as a password or OTP as opposed to a username.
In this authentication mode, it is important to use a combination
of letters, cases, numeric values and symbols to ensure that a
strong password is created because this creates difficulties and
time for hackers to use permutations and combinations.
View report summary and Table of Contents
(TOC):
https://www.skyquestt.com/report/zero-trust-security-market
Fortifying the Future: The Impact and Promise of the Zero
Trust Security Market
The future of the uncertainty-free security market is promising,
driven by continued technological advancement and increased
awareness of cyber threats. Emerging technologies such as
artificial intelligence, machine learning and behavioral analytics
enhance the power of trustless solutions, making them more flexible
and intelligent.
As cyber threats evolve, reliance on imperfect modeling will
play an important role in future proofing and cybersecurity
measures, all firmly designed to ensure that organizations are
protected. The zero trust security market is poised to redefine the
cybersecurity landscape.
Related Report:
Cyber Security Market
Network Security Market
Endpoint Security Market
Managed Security Services Market
Application Security Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj
Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
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