The ease of using the internet and the development of inexpensive smartphones have encouraged businesses to use zero trust security solutions, which is driving the worldwide zero trust security market. During the COVID-19 epidemic, strict implementation of zero trust security solutions allowed a number of businesses to manage security challenges successfully. In 2021, North America’s share of the market was the highest.
The global zero trust security market generated revenues of $23.61 billion in 2021, and it is anticipated that by 2031, it will have grown at a CAGR of 18.5 percent, reaching $126.02 billion. The market research study offers a thorough analysis of shifting market trends, the most important market segments, value chain analysis, key investment business scenarios, regional space, and competitive environment. In order to develop new plans for the future and take action to strengthen their market position, major players, entrepreneurs, shareholders, and owners rely heavily on research as a source of information. The research directs investors in allocating assets to the quickly developing business by displaying an in-depth quantitative analysis of the market from 2022 to 2031.
The report offers detailed segmentation of the global zero trust security market based on component, deployment model, enterprise size, authentication, industry vertical, and region. It provides an in-depth analysis of every segment and sub-segment in tables and figures through which consumers can derive a conclusion about market trends and insights. The market report analysis aids organizations, investors, and entrepreneurs in understanding which sub-segments are to be tapped for achieving huge growth in the upcoming years.
Based on the component, the solution segment contributed the largest market share in 2021, accounting for nearly two-thirds of the overall share of the global zero trust security market. Moreover, this segment is predicted to retain its dominant status during the forecast timespan. However, the services segment is expected to register the highest CAGR of 19.8% during the forecast timeline.
Based on the deployment model, the on-premise segment held the largest share in 2021, contributing more than half of the overall share of the global zero trust security market. Moreover, this segment is expected to contribute the highest market share by 2031. However, the cloud segment is also expected to record the fastest growth with a CAGR of 19.2% during the forecast period.