Zero Trust Security Market Size

Zero Trust Security Market size was valued at USD 31.64 billion in 2023 and is set to cross USD 238.23 billion by 2036, registering more than 16.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of zero trust security is evaluated at USD 35.89 billion.

The growth of the market can be attributed to the increasing number of target-based cyberattacks, growing digitization across developing nations and rising implementation of government regulations regarding information security. Spear phishing or targeted emails, is used for almost 94% of successful data breaches around the world. Approximately 27% of companies are calculated to experience a data breach in the following two years. In addition, there is an intensifying demand for enhanced visibility among organizations in order to keep up with the users accessing a network from multiple locations. With the increase in IoT traffic since the last few years, the demand for zero trust security services is also projected to increase in the future. Furthermore, owing to the widespread trend of work from home since the inception of COVID-19 pandemic, the need for zero trust security solutions has witnessed a major hike, which in turn is expected to drive significant market growth.