Dublin, Dec. 20, 2019 (GLOBE NEWSWIRE) -- The "Zero-Trust Security Market by Solution Type (Data Security, Endpoint Security, API Security, Security Analytics, Security Policy Management), Deployment Type, Authentication Type, Organization Size, Vertical, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global zero trust security market size is estimated to grow from USD 15,617 million in 2019 to USD 38,631 million by 2024, at a Compound Annual Growth Rate (CAGR) of 19.9% from 2019 to 2024.

A growing number of high-profile cyber-attack cases faced by the organizations is driving the overall growth of the Zero Trust Security.

The market growth is driven by various factors, such as increasing cyber-threats, growing mandates from government & compliance regulations, and modernization in networking infrastructure through a variety of end-devices, have contributed the considerable share in the zero-trust security ecosystem.

By deployment, the cloud segment is estimated to hold a larger market size than the on-premise segment in 2019.

Unlike traditional on-premises deployment mode, cloud-based zero trust security solutions provide a cost-effective approach for enterprises across various industry verticals to enhance security. Pricing is one of the major differentiating factors in the adoption of cloud-based security solution over on-premises security solutions.

Growing virtualization across industries and the adoption of cloud computing is promoting the demand for cloud-based zero trust security solutions in various countries. Moreover, cloud-based deployment of zero-trust security solutions can help organizations to reduce costs associated with expensive hardware equipment for storage, power, cooling as well as lowers the IT personnel required to monitor the network further eliminating the IT maintenance costs. Cloud deployments are suitable for small and medium businesses that usually have a limited budget allocated for securing critical assets from cyberattacks.

By authentication type, multi-factor authentication is expected to register a higher growth rate than the single-factor authentication segment during the forecast period.

Multi-factor authentication (MFA) is becoming one of the most effective type of identity verification and authentication method that requires a person, software, or a machine to present multiple identifiers for identity verification. The various categories of multiple identifiers include something that they know such as a password or PIN, something that they have such as passport, tokens, access-card or software certificate, and something they are such as biometric data, fingerprints or facial geometry and recognition. Most commonly used MFA identifiers are user passwords/PINs, cryptographic hardware security tokens, smartcards, software-based certificates, and biometrics that may include verification of any individual through retina scans, fingerprint scans, facial recognition and voice recognition.

The Asia Pacific zero-trust security market is expected to register the highest growth rate during the forecast period.

APAC comprises of few largest economies in the world such as China, Singapore, Japan, Australia. The increasing economic importance of these countries has prevailed a vast amount of data transmitted across networks that are prone to security breaches. The threat landscape is driven by necessary measures required to aid support to several industry verticals at an alarming rate.

Increased number of alerts and threats combined with a comparative shortage in staffs is resulting in 50% of threats going undetected. Zero trust security solutions are expected to surge the efficiency of security solutions by preventing low-level incidents, considering each user as a hostile network. Owing to the high digital connectivity, contrasted with the low cybersecurity awareness, growing cross-border data transfers, and weak regulations, Asia Pacific is anticipated to boost the demand for zero-trust security solution over the forecast period.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Zero-Trust Security Market
4.2 Market Share of Top 3 Verticals and Regions, 2019
4.3 Market Top 3 Solutions, 2019-2024
4.4 Market By Deployment Type, 2019-2024
4.5 Market By Organization Size, 2019

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Frequency of Target-Based Cyberattacks
5.2.1.2 Increasing Regulations for Data Protection and Information Security
5.2.2 Restraints
5.2.2.1 Budgetary Constraints Among Small and Emerging Start-Ups in Developing Economies
5.2.3 Opportunities
5.2.3.1 High Demand for Better Visibility Due to the Rising IoT Traffic Among Enterprises
5.2.3.2 Increasing Need for Cloud-Based Zero Trust Security Solutions Among SMEs
5.2.4 Challenge
5.2.4.1 Design and Implementation Challenges to Deploy Zero Trust Security Solutions
5.3 Use Cases
5.4 Industry Trends

6 Zero-Trust Security Market By Solution Type
6.1 Introduction
6.2 Network Security
6.2.1 Network Security Enables Detection, Monitoring, and Prevention of Network Malfunction
6.3 Data Security
6.3.1 Data Security Prevents Data Leakages Through Database Auditing and Reporting, Encryption and Tokenization, Data Masking and Redaction, and Access Control Management
6.4 Endpoint Security
6.4.1 Increasing Number of Connected Devices to Drive Adoption of Endpoint Security
6.5 Security Orchestration Automation and Response
6.5.1 Soar Enables Organizations to Automatically Detect and Respond to Security Operations From a Single Console
6.6 API Security
6.6.1 API Security Offers Optimal Defense Solution for Mitigating Cyber Threats
6.7 Security Analytics
6.7.1 Security Analytics Complements Traditional Security Measures Offering Real-Time Analytics to Organizations
6.8 Security Policy Management
6.8.1 Security Policy Management Facilitates Easy Compliance Management and Reduces Reliance on Manual Process
6.9 Others

7 Zero-Trust Security Market By Deployment Type
7.1 Introduction
7.2 On-Premises
7.2.1 On-Premises Zero Trust Security Solutions Offer Complete Control Over Security Policies
7.3 Cloud
7.3.1 Cloud Zero Trust Security Solutions Offer Cost-Effectiveness and Ease of Customization

8 Zero-Trust Security Market By Authentication Type
8.1 Introduction
8.2 Single-Factor Authentication
8.2.1 Single-Factor Authentication Simplifies Access to the Network System
8.3 Multi-Factor Authentication
8.3.1 Multi-Factor Authentication Provides Additional Security Through Multiple Protection Layers

9 Zero-Trust Security Market By Organization Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.2.1 Small and Medium-Sized Enterprises to Manage Unawared Various Cyber Risks Through Zero Trust Security Solutions
9.3 Large Enterprises
9.3.1 Large Enterprises Leverage Zero Trust Security Capabilities to Tackle Cyber Risks Occurred From Malware and Human Errors

10 Zero-Trust Security Market By Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.2.1 Banking, Financial Services, and Insurance to Reduce Risk of Using Digital Banking Applications
10.3 IT and Telecommunications
10.3.1 IT and Telecommunications Prefer Business Models Enabled With Zero Trust Security Solutions to Prevent Large Amounts of Sensitive Data
10.4 Government and Defense
10.4.1 Government and Defense to Continuously Invest in Cyber Security-Related Solutions
10.5 Retail and Ecommerce
10.5.1 Retail and Ecommerce Companies to Prevent Endpoint Access
10.6 Healthcare
10.6.1 Healthcare Companies Focus on Securing Large Repository of Patient Information
10.7 Energy and Power
10.7.1 Energy and Power Companies Adopting Zero Trust Security Solutions to Safeguard Operational Technologies
10.8 Others

11 Zero-Trust Security Market By Region
11.1 Introduction
11.2 North America
11.2.1 United States
11.2.1.1 US Market to Grow Due to Presence of Several Security Vendors
11.2.2 Canada
11.2.2.1 Canada Market to Propel Due to Geographic Expansions of Security Vendors
11.3 Europe
11.3.1 United Kingdom
11.3.1.1 United Kingdom Market to Grow Due to Favorable Government Regulations
11.3.2 Germany
11.3.2.1 Germany Market to Expand Due to Increasing M2M Connected Devices
11.3.3 France
11.3.3.1 France Market to Grow Due to Strict Laws for Data Protection
11.3.4 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.1.1 China Market to Grow Due to Rise in Development of Smart Cities
11.4.2 Japan
11.4.2.1 Japan Market to Expand Due to Increased Data Protection Awareness
11.4.3 Australia
11.4.3.1 Australia Market to Rapidly Adopt Surveillance and Alarming Security Systems
11.4.4 Singapore
11.4.4.1 Singapore Market to Expand Due to Growing Network Infrastructure
11.4.5 Rest of Asia Pacific
11.5 Middle East and Africa
11.5.1 Middle East
11.5.1.1 Local Governments in the Middle East Countries to Focus on Security-Related Initiatives
11.5.2 Africa
11.5.2.1 African Organizations to Deploy Security Solutions to Address Dynamic Business Models
11.6 Latin America
11.6.1 Brazil
11.6.1.1 Brazil Market to Grow Due to Adoption of Zero Trust Security Solutions in Banking, Financial Services, and Insurance Vertical
11.6.2 Mexico
11.6.2.1 Mexico Market to Grow Due to Growing Awareness of Mass Surveillance
11.6.3 Rest of Latin America

12 Competitive Landscape
12.1 Competitive Leadership Mapping
12.1.1 Visionary Leaders
12.1.2 Innovators
12.1.3 Dynamic Differentiators
12.1.4 Emerging Companies
12.2 Competitive Scenario
12.2.1 New Product Launches and Product Enhancements
12.2.2 Partnerships, Agreements, and Collaborations
12.2.3 Mergers and Acquisitions
12.2.4 Business Expansions

13 Company Profiles
13.1 Introduction
13.2 Cisco
13.3 Akamai
13.4 Palo Alto Networks
13.5 Symantec
13.6 OKTa
13.7 Forcepoint
13.8 Centrify
13.9 Cyxtera Technologies
13.10 Illumio
13.11 Sophos Group PLC
13.12 Google
13.13 Microsoft
13.14 VMware
13.15 Trend Micro
13.16 Cloudflare
13.17 IBM
13.18 Fortinet
13.19 Check Point Software Technologies
13.20 Pulse Secure
13.21 ON2IT

For more information about this report visit https://www.researchandmarkets.com/r/25lwg8

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