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The increasing demand for zero-trust security solutions is fueled by the need for thorough protection against ever-changing cyber threats. By implementing a zero-trust approach, organizations reduce the impact of security incidents, prevent data breaches, and safeguard important assets in a world that is becoming more digital and interconnected.
Zero trust architecture solutions that are designed for cloud environments offer precise access controls, continuous monitoring, and authentication mechanisms to meet the increasing demand for cloud security. In line with this, Google Cloud has introduced new zero-trust security features. These new features from Google Cloud further enhance the options available for organizations seeking robust security measures in their cloud environments.
Source: Intent Market Research Analysis
Single-factor authentication methods validate users using only a single credential, such as a password or OTP, based on their username. In such authentication modes, it is important to ensure that strong passwords are generated using a combination of letters, uppercase, and lowercase letters, numbers, and symbols. Utilizing complex and varied permutations in authentication increases the difficulty and time required for hackers to gain access.
The healthcare sector is expected to witness the fastest CAGR from 2024 to 2030. Continuous innovation and implementation of technologies such as telehealth services and analytics to facilitate effective communication between end users and businesses is driving the need for secure network infrastructure services.
The SME segment is expected to witness the fastest CAGR during the forecast period. The COVID-19 pandemic has impacted both large and small providers, with data breach incidents on the rise while employees rely on remote work environment, zero-trust targets small and medium-sized banks (SMBs), financial institutions, IT, manufacturing, telecommunications, and retail businesses that require robust security solutions. Zero trust architecture ensures that the users with the correct credentials are internal, trusted users, rather than hackers who gain unauthorized access to the credentials through phishing or other methods. As a result, SMBs are increasingly adopting zero-trust security models to implement multi-layered authentication validation.
Asia-Pacific is expected to exhibit the fastest CAGR from 2024 to 2030. The need to monitor secure network access from unauthorized data breaches in government, financial, healthcare, and e-commerce companies is driving the growth of the regional market. Multiple data breach incidents and the resulting fallout have increased the demand for threat-hunting services. For instance, in May 2020, the personal data of 2 billion voters was put up for sale on the dark web, and a threat was made to resell the data of 200 billion voters.
Leading players in the zero-trust architecture market are diversifying their offerings and employing various inorganic growth strategies, including mergers, alliances, and acquisitions. Some prominent players in the global zero trust architecture market are Akamai Technologies, Appgate, Broadcom+, Check Point Software Technologies, Cisco, Cloudflare, CrowdStrike, Forcepoint, Fortinet, IBM, Musarubra, Microsoft, Okta, Palo Alto Networks, Zscaler.
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