SecurityWorldMarket

13/07/2021

Zero trust security strategies on the rise

San Francisco, Ca (USA)

The global zero trust security market size is expected to reach USD 59.43 billion by 2028, registering a CAGR of 15.2% from 2021 to 2028, according to a new study conducted by Grand View Research, Inc.

The market is driven by the need to protect enterprise digital environments by averting lateral movement, leveraging network segmentation, simplifying granular user-access control, and implementing layer 7 threat prevention. The robust solutions for implementing a zero-trust security environment ensure the protection of computers, programmes, and networks from unauthorised access. Moreover, preventing unwarranted access to critical data, as the adoption of technologies, such as cloud computing, Wifi, and Internet of Things (IoT), coupled with outsourcing service, is increasing, is driving the growth of the market.  According to the researchers, the Covid-19 pandemic has further acted as a catalyst for market growth with enterprises investing in securing their networks, endpoints, and IT infrastructure with a zero-trust security framework.

Changing technology landscape

The threat to digitally stored information from unauthorised access is also driven by changing technological landscape. While technology revolutionises a business process, it also creates vulnerabilities in online protected data. In addition, while internet connectivity improves the operational task of the business by speeding up the process and improving accessibility, the risk of cyber attacks also increases rapidly.

Moreover, the rapid expansion of operational data exposed to cyber adversaries through mobile, other edge devices, and IOT and the dependence of companies on third-party vendors and service providers are some of the prevailing supply chain trends increasing the risk of cyber attacks to access information. Therefore, the implementation of a security solution ensures a zero-trust security environment in the organisation to mitigate the risks arising from various business activities and internet connectivity.

New laws introduced

The application of the zero trust model is parallel to the concept of cyber security as it focuses on preventing intrusion by securing the digital network. The analysts found that several countries across the world have introduced laws to prevent cyber crime and data theft, which is vital for safeguarding the BFSI, IT, telecom, defence, and healthcare, other major sectors. The increasing internal and external threat of unauthorised data accessibility and cyber crime due to the political and personal interest of hackers or intruders for earning easy money further pressurises governments to update their policies regularly.

For instance, the research says that China updated its cyber policy on December 1, 2019, which instructs both Chinese and foreign public as well as private companies and organisations to secure their networks. And, the cyber law in the U.S. varies based on the business sector and includes Health Insurance Portability and Accountability Act, 2002 (HIPAA); Homeland Security Act that also includes Federal Information Security Management Act (FISMA), and 1996 Gramm-Leach-Billey Act. Such cyber laws further necessitate the need to secure networking structure and boost the demand for authentication and cyber-solution that ensures a zero-trust security environment.


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