Tag Archive for: MarketsandMarkets™

MarketsandMarkets Forecasts $60.7 Billion Zero Trust Security Market


MarketsandMarkets is predicting that the demand for Zero Trust Security solutions will more than double in the next five years. The firm specifically believes that the Zero Trust Security Market will jump from $27.4 billion in 2022 to a robust $60.7 billion in 2027, which corresponds to a CAGR of 17.3 percent for the forecast period.

MarketsandMarkets Forecasts $60.7 Billion Zero Trust Security Market

Organizations are expected to adopt Zero Trust security methods in an effort to combat the rising number of cyberattacks, and to lower the risk of a costly data breach. In that regard, MarketsandMarkets noted that cybercriminals are engaging in more targeted attacks, with ransomware attacks becoming more and more common in the past few years.

Zero Trust security can help mitigate that threat. MarketsandMarkets indicated that the demand for multi-factor authentication solutions will be particularly high, making MFA the fastest-growing segment of the market. MFA solutions prevent hackers from gaining access to a system even if they can crack someone’s password, since they still need to get past another (often biometric) layer of security. The tech is expected to become the norm in any industry that handles sensitive personal and payment information, including finance and healthcare.

The increasing number of data protection laws will be another driver of market growth in the coming years. More businesses will need to enhance their security to achieve compliance, and many will implement biometric authentication in order to do so. The Asia Pacific market will grow at the fastest rate, with two-thirds of the organizations in the market having already made the switch to Zero Trust and 58 percent of the rest planning to do so in the next 12 months. There has also been a rush of legislative activity, with India, Japan, and Singapore pushing new cybersecurity policies to thwart ransomware activity.

Finally, MarketsandMarkets is expecting to see significant growth amongst small and medium enterprises. Like their larger counterparts, SMEs are pursuing digital transformation and migrating to a cloud environment. However, that shift has exposed them to new cyberthreats, and is forcing them to update their security practices to protect their infrastructure.

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MarketsandMarkets forecasts the global 5G security Market size is expected to grow USD 1.3 billion in 2022 to USD 7.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 41.6%


ReportLinker

ReportLinker

during the forecast period. By Application, the Virtual and Augmented Reality segment to grow at the highest market share during the forecast period Widespread deployment of 5G security could accelerate the adoption of augmented and augmented reality.

New York, May 31, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “5G Security Market with Covid-19 Impact Analysis by Component, Deployment Mode, Organization Size, End User, Network Component Security, Architecture, Application, Vertical and Region – Global Forecast to 2027” – https://www.reportlinker.com/p06025259/?utm_source=GNW
Although more extensive availability is not the main prerequisite for VR and AR to thrive with 5G, convincing use cases are additionally required to make these technologies viable, despite the fact that the option of 5G gives developers a bigger canvas to plan design experiences.

The AR and VR revolution is still in their initial stage.These innovations can possibly reform numerous businesses throughout the upcoming years.

They will change how people interact with the surrounding scene, open new experiences, and increase productivity. However, the real-time intelligence of the extended reality (AR/VR) applications requires high bandwidth and ultra-low latency supported by the 5G networks.

By Organization Size, the Large Enterprises segment to hold the larger market size during the forecast period
Organizations with more than 1,000 employees are considered large enterprises.Adoption of 5G security solutions in the coming years is expected to grow among large enterprises.

Large enterprises are expected to use 5G security solutions for digitizing applications and services, communication security, identity management, privacy, and security assurance.They have begun investing in IT infrastructure and technical expertise to automate their various tasks.

This is in response to the increasing amount of data turn-off processes and tasks. 5G’s security architecture enables significant performance benefits and diversity of applications as it controls network slicing, cloud-based resources, virtualization, and other emerging technologies. Network slicing enables different…

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Mobile Security Market Worth $7.2 Billion by 2024 – Exclusive Report by MarketsandMarkets™ – Yahoo Finance

Mobile Security Market Worth $ 7.2 Billion by 2024 – Exclusive Report by MarketsandMarkets™  Yahoo Finance
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