Press Release
Press Release
The growing frequency of target-based cyber-attacks and increasing regulations for data protection and information security are some of the key aspects that will drive the zero-trust security market. The proliferation of endpoint devices, coupled with the rising adoption of cloud technology, has triggered the need for implementing a zero-trust security framework. Businesses are increasingly thriving on networking technology and computerised systems, which are prone to attack and vulnerable to unauthorised access. The remote working policies, due to the COVID-19 pandemic, have further raised the need for a secured architecture framework that would enforce multi-factor authentication for accessing crucial data. Thereby, the need to secure complex networks, increase network administration visibility, and combat the internal and external threats from unauthorised access is driving the demand for security solutions and is expected to boost the market growth over the forecast period. Moreover, as the usage of technologies such as cloud computing, Wi-Fi, and the Internet of Things (IoT), combined with outsourced services, grows, preventing unauthorised access to sensitive data is fuelling the market's growth.
The strategic initiatives by the key organisations, coupled with high demand from the IT sector, have helped in changing the landscape of the overall market. For instance, in October 2018, Cisco (NASDAQ: CSCO) acquired Duo Security, a solution supplier of integrated access security and multi-factor verification delivered through the cloud, which has helped in making healthy competition in the market.
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The major players in the global zero trust security industry are Cisco Systems, Inc., Akamai Technologies, IBM Corporation, Broadcom Inc., and McAfee Enterprise, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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