Zero Trust Architecture Market Insights, Leading Players and Forecast Report, 2030

Posted by Aryan on March 28th, 2024

The size of the zero-trust architecture market was USD 17 billion in 2023, which will power at a rate of 18.5% by the end of this decade, reaching a total value of USD 55 billion by 2030.

The main drivers responsible for the growth of the industry are the growing cybersecurity threats, rising trend for CYOD and BYOD concepts, mounting cloud acceptance, increasing preference for remote workforces, digital transformation and mobile devices, and compliance and data privacy regulations.

SMEs will have a rate of 19% by the end of this decade. This is for the reason that they are supposed to be more helpless against sophisticated cyberattacks than big enterprises. So, as they lack strong security solutions, SME financial organizations, manufacturing, IT, banking, telecom, and retail businesses are often targeted.

Additionally, the pandemic has had a substantial impact on SMEs. Though, SMEs display more flexibility and agility in implementing cutting-edge methods and workflows than large enterprises.

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North America zero-trust architecture market is the leading with a total value of USD 8 billion in 2023. Zscaler, Palo Alto Networks, and Cisco are all contributing to the industrial growth of the region as they offer easy access to the regional organizations to novel technologies and solutions. A high cybersecurity consciousness and surge in public authority and government investments in security are likewise boom the growth of the industry.

Large enterprises will have the higher revenue, of USD 10 billion, in 2030.

• Large enterprises' programs, sophisticated networking, and terminals call for dependable solutions for protecting data, by incessantly assessing and recording authentication in real time.

• The probability of an inside attack surges when businesses adhere to protocols as a mere formality and grant authorized users more access than needed.

• The existence of a reliable network does not guarantee IT protection, since dependable inside sources could be the source of an internal threat, as well as external ones.

• The zero-trust security framework, granting users the lowest level of authority, views authorized enterprise users as zero-trust.

Cybersecurity naturally receives substantial funding from large businesses to safeguard their assets, confidential info, and intellectual property. Because of the intricacy of their operations, large businesses regularly need zero-trust systems, which are unique and more sophisticated.

Vendors may charge lot of custom solutions' development, implementation, and management from large corporations, which is an additional factor that makes this category the larger contributor to the industry revenue.

It is because of the increasing need for cybersecurity all over the globe, the demand for zero-trust architecture is on the rise. This trend will continue to grow in the years to come as well.