The zero trust architecture provides access controls and visibility to applications, systems, and data across internal networks and cloud environments. It assumes there is no implicit trust granted to assets and users inside the traditional network perimeter. Zero trust strategy increases security by eliminating implicit trust and continuously verifying anyone or anything attempting to access business resources. With the growing remote workforce, zero trust architecture plays a crucial role in securing network perimeters and user access.
The Global Zero Trust Architecture Market is estimated to be valued at US$ 33.4 Bn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Zero Trust Architecture are Aegis Engineering Ltd, Armored Republic, LLC, BAE Systems, Ballistic Body Armour Pty, Ceradyne Inc. (Subsidiary of 3M), Craig International Ballistics Pty Ltd., Hellweg International, Kejo Limited Company, Pacific Safety Products, and Point Blank Enterprises, Inc. The increasing trends of remote and hybrid work culture along with rising instances of cyber threats has opened doors of opportunities including increased demand for authentication and authorization of users and assets. With growing digitalization across industries, key players are expanding their zero trust architecture solutions globally.
Market drivers:
One of the major drivers boosting the zero trust architecture market is the significant increase in remote workforce during COVID-19. The pandemic has massively accelerated the need for securing the remote workforce and ensuring smooth operation of businesses from any location securely. Zero trust architecture offers multilayer security without compromising user experience for remote access, thereby fueling its demand among organizations globally.
PEST Analysis
Political: The zero trust architecture market is influenced by governmental regulations and policies related to data privacy and cybersecurity. Various governments are promoting zero trust frameworks to enhance their network security posture.
Economic: The increasing instances of data breaches and cyber-attacks are compelling organizations across industries to adopt robust security measures like zero trust architecture to minimize financial losses. Zero trust helps reduce operational costs associated with network management and access privileges.
Social: With changing social landscape and remote working becoming prevalent, there is a growing need to secure access to sensitive data and applications from both insider and outsider threats. Zero trust architecture addresses these concerns by eliminating implicit trust and verifying every user, device, application and transaction.
Technological: Advances in authentication mechanisms, AI/ML, microsegmentation and other technologies have made implementation of zero trust frameworks more effective and seamless. Continuous monitoring and real-time risk assessment capabilities of zero trust solutions are driving their adoption across industries.
North America is currently the largest geographical market for zero trust architecture in terms of value, accounting for over 40% of the global market share. High technology adoption, stringent regulations and increasing threat landscape have propelled zero trust adoption in sectors like government, financial services, healthcare and telecom in the region.
Asia Pacific is poised to be the fastest growing regional market, spurred by rapid digital transformation initiatives in countries like China, India and Japan. Economic development, growing internet penetration and increasing number of new companies implementing digital systems have amplified the need for robust cybersecurity frameworks like zero trust.
The Middle East and Africa market is witnessing significant growth opportunities due to large-scale infrastructure projects, expanding adoption of cloud and remote work models. Initiatives promoting smart cities and digital economies in GCC countries are catalyzing zero trust deployments across commercial and government networks. However, lack of adequate cybersecurity expertise remains a challenge for complete rollout of zero trust architecture in the region currently.