The North America Zero Trust Security Market would witness market growth of 17.2% CAGR during the forecast period (2020-2026).
Zero-trust security is one of the latest types of cyber-security solutions that operate on the principle/concept of zero-assumed trust. The solution works by getting an authentic verification from every person entering the secured networks. This concept is becoming more popular owing to the features for tackling security breaches. Moreover, it also offers a mechanism that is simple-to-use, cost-effective, and reliable.
These systems are different from the traditional castle & moat principle for security. Early approaches trusted every insider by default, who visits the network. Using These earlier approaches, supervision of communication have become difficult & these approaches results in various limitations as information transferred easily from inside-out in the most complicated, heavy, and tremendously risky manner. According to a study by IBM, the security cost for breaches is approximately 3 million US dollars. Zero-trust security uses a simple mechanism to make it an effective, trusted, and cost-efficient solution in long term.
Cloud applications & mobile workforce are reshaping the security aspects under which the workers bring their own gadgets and are working remotely. The organizational information can be accessed outside the corporate network and can be shared with outsiders like vendors and partners. There are many companies who are shifting from on-premise to the cloud and hybrid applications, this shift created a need for a security solution to effectively secure the data & adapt to the complicated modern context and also helps the remotely working employees. It also safeguards gadgets, workforce, information, and application when they are embedded within the zero-trust security solutions.
The US market dominated the North America Zero Trust Security Multi-factor Authentication Market by Country 2019, and would continue to be a dominant market till 2026. The Canada market is experiencing a CAGR of 21.9% during (2020 - 2026). Additionally, The Mexico market would witness a CAGR of 20.8% during (2020 - 2026).
The IT and ITES market dominated the US Zero Trust Security Market by Vertical 2019, thereby, achieving a market value of $3,259 million by 2026. The BFSI market is showcasing a CAGR of 15.5% during (2020 - 2026). Additionally, The Healthcare & Social Assistance market is estimated to grow at a CAGR of 17.3% during (2020 - 2026).
Based on Solution Type, the market is segmented into Data Security, Security Orchestration Automation & Response, Network Security, Security Analytics & Security Policy Management, Endpoint Security, API Security and Others. Based on Authentication Type, the market is segmented into Single-factor Authentication and Multi-factor Authentication. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Vertical, the market is segmented into IT and ITES, BFSI, Healthcare & Social Assistance, Retail Trade, Utilities and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., Akamai Technologies, Inc., Palo Alto Networks, Inc., Check Point Software Technologies Ltd., IBM Corporation, Microsoft Corporation, NortonLifeLock, Inc., Google, Inc., FireEye, Inc., and McAfee, LLC.
Scope of the Study
By Solution Type
• Data Security
• Security Orchestration Automation & Response
• Network Security
• Security Analytics & Security Policy Management
• Endpoint Security
• API Security
By Authentication Type
• Single-factor Authentication
• Multi-factor Authentication
By Organization Size
• Large Enterprises
• Small & Medium Enterprises
By Deployment Type
• IT and ITES
• Healthcare & Social Assistance
• Retail Trade
• Rest of North America
• Cisco Systems, Inc.
• Akamai Technologies, Inc.
• Palo Alto Networks, Inc.
• Check Point Software Technologies Ltd.
• IBM Corporation
• Microsoft Corporation
• NortonLifeLock, Inc.
• Google, Inc.
• FireEye, Inc.
• McAfee, LLC
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