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3. Zscaler (US) and Microsoft (US) are leading players in Zero Trust Security Market

The global zero trust security market size is projected to grow from USD 31.1 billion in 2023 to USD 67.9 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 16.9% during the forecast period. The growth of the zero trust security market is being fueled by rising trends in digital transformation and cloud adoption, which expand the attack surface and necessitate advanced security measures. Additionally, regulatory compliance requirements like GDPR and HIPAA push organizations to adopt zero trust security to ensure data protection and compliance.

Traditional perimeter-based security is proving inadequate in the face of remote work and mobile devices, further driving the shift toward zero trust models. Moreover, the escalating sophistication of cyber threats, such as self-propagating malware and ransomware, makes zero trust security crucial for containing and mitigating potential breaches. Altogether, the convergence of these factors underscores the growing importance and adoption of zero trust security solutions.

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What is zero trust security?

Zero trust architecture, as outlined in the latest draft of standards by the US National Institute of Standards and Technology (NIST), is characterized as a cybersecurity philosophy centered around safeguarding resources. It operates on the foundational principle that trust should never be assumed without ongoing scrutiny. Consequently, zero trust security isn't merely a single product or method; it encompasses a comprehensive network of interconnected policies, procedures, software, and hardware that collectively establish a zero-trust ecosystem.

Competitive overview:

The zero trust security market is led by some of the globally established players, such as Palo Alto Networks (US), VMware (US), Zscaler (US), Akamai (US), Microsoft (US), Cisco (US), IBM (US), Citrix (US), Check Point (US), Trellix (US), Forcepoint (US), CrowdStrike (US), Cloudflare (US), Fortinet (US), Google (US), and Qnext (Canada). Partnerships, agreements, collaborations, acquisitions, and product developments are some of the various growth strategies by these players to increase their market presence.

Zscaler (US) is a prominent cloud security provider driving digital transformation by providing a cutting-edge Zero Trust Exchange platform. This platform securely connects users, devices, and applications across locations, protecting thousands of clients from cyber threats. Zscaler offers solutions like Zscaler Internet Access for external app security, Zscaler Private Access for internal apps, and Zscaler Digital Experience for user experience measurement. The company also offers a Posture Control solution that ensures robust security, while modules like Zscaler Central Authority and Enforcement Node enhance its offerings. Trusted by diverse industries, Zscaler collaborates with tech giants like Microsoft, Cisco, and AWS, headquartered in San Jose, California, pioneering modern-era cybersecurity.

Microsoft (US) Microsoft is a global tech company committed to empowering individuals and businesses with innovative solutions. It offers various products and services, including operating systems, productivity tools, cloud solutions, and consulting services. The company operates in three main segments: Productivity and Business Processes (including Office, Teams, and SharePoint), Intelligent Cloud (involving Azure and enterprise support), and More Personal Computing (including Windows licensing). Microsoft conducts extensive research and development to enhance personal and professional lives worldwide. Furthermore, it serves customers across various sectors and has a global presence spanning North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

Apart from prominent vendors, some other key players, such as Illumio (US), ON2IT (Netherlands), Perimeter 81 (US), ThreatLocker (US), Twingate (US), Appgate (US), Zero Networks (Israel), Zentera (US), Xage (US), and Skyhigh Security (US) are also evolving in the zero trust security market.

According to MnM’s approach to evaluating the market, most businesses use inorganic growth tactics to hold onto their market share. These agreements cover alliances, acquisitions, collaborations, and partnerships together. Product launches and corporate growth activities are abruptly affected by factors such as government regulations. On the other hand, organizations are anticipated to embrace organic growth strategies to provide end consumers with simulation software and professional services, which would assist businesses in boosting market revenue.

Related Reports:

Zero Trust Security Market by Offering (Solution and Services), Security Type (Network Security, Application Security, Cloud Security, and Endpoint Security and IoT Security), Authentication Type, Vertical and Region - Global Forecast to 2028

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