DUBLIN, July 29, 2021--(BUSINESS WIRE)--The "Zero Trust Security Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The zero trust security market is expected to register a CAGR of 18% during the forecast period 2021 - 2026
Cloud applications and the mobile workforce are redefining the security perimeter where employees are bringing their own devices and working remotely. Data is being accessed outside the corporate network and shared with external collaborators, such as partners and vendors.
Corporate applications and data are moving from on-premises to hybrid and cloud environments, and organizations need a new security model that more effectively adapts to the complexity of the modern context, embraces the mobile workforce and protects people, devices, applications, and data wherever they are located which the core of the zero-trust security.
The increasing activities of cybercriminals who are becoming successful at penetrating and moving laterally within the security perimeter are expected to drive the implementation of zero-trust security because organizations that rely solely on on-premises firewalls and VPNs lack the visibility, solution integration, and agility to deliver timely, end to end security coverage.
As evidence, the rates of large-scale, multi-vector mega attacks are also growing, wreaking havoc on organizations and individuals worldwide. For instance, 1.76 billion records were leaked in January 2019 alone. Ransomware is expected to cost businesses and organizations USD 11.5 billion in 2019, and the global cost of online crime is expected to reach USD 6 trillion by 2021.
Zero trust is driven by the precepts of never trusting anything inside or outside the organization's security perimeters. Instead, before access is granted, anything and everything that is attempting to connect to an organization's systems must always be verified.
With zero trust, the security team puts policies in place to validate every connection attempt and every device, and to intelligently limit access. In a zero trust model, every access request is strongly authenticated, authorized within policy constraints, and inspected for anomalies before granting access. Everything from the user's identity to the application's hosting environment is used to prevent a breach.
The dynamic nature of COVID-19 has resulted in rapidly evolving shifts to the remote workforce. Given the access provided through remote connectivity, the newly minted remote workforce, and the potential for limited security reviews, attackers are likely to take advantage of weaknesses to gain internal network access.
The zero trust security is emerging in recent years, which utilizes an identity provider to provide access to the applications and determines the authorization rights based on both the user and the device. Fundamental authorization rights include device and user identity checks to consider if the organization manages the device.
The zero trust security market primarily comprises multiple domestic and international players in quite a fragmented and highly competitive environment. The market poses high barriers to entry for new players as they are already various established players in the market. Technological advancements in the market are also bringing sustainable competitive advantage to the companies, and the market is also witnessing multiple partnerships and mergers.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview (Includes the impact of COVID-19)
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.3 Market Drivers
4.3.1 Increasing Number of Data Breaches
4.3.2 Security Perimeter of an Organization not Being Limited to Workplace
4.4 Market Restraints
4.4.1 Legacy applications, infrastructure, and operating systems not likely to adopt zero trust model
4.5 Technology Snapshot
4.5.1 Zero Trust Networks
4.5.2 Zero Trust Devices
4.5.3 Zero Trust Data
4.5.4 Zero Trust Identities
4.5.5 Zero Trust Applications (Visibility and Analytics)
4.6 Industry Value Chain Analysis
5 MARKET SEGMENTATION
5.2 Organization Size
5.2.1 Small and medium Enterprises
5.2.2 Large Enterprises
5.3 End User Industry
5.3.1 IT and Telecom
5.3.5 Energy and Power
5.3.8 Other End-user Industries
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Cisco Systems Inc.
6.1.2 Palo Alto Networks Inc.
6.1.3 Vmware Inc.
6.1.4 Broadcom Inc. (Symantec Corporation)
6.1.5 Microsoft Corporation
6.1.6 IBM Corporation
6.1.7 Google Inc.
6.1.8 Check Point Software Technologies Ltd
6.1.9 Blackberry Limited
6.1.10 Akamai Technologies Inc.
6.1.11 Centrify Corporation
6.1.12 Okta Inc.
6.1.13 Fortinet Inc.
6.1.14 Sophos Group PLC
6.1.15 Cyxtera Technologies Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/y0e78w
View source version on businesswire.com: https://www.businesswire.com/news/home/20210729005655/en/
Laura Wood, Senior Press Manager
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