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Zero Trust Security Market Set to Surge Beyond USD 99.7 Billion by 2031| SkyQuest Technology

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WESTFORD, Mass., July 8, 2024 /PRNewswire/ — According to SkyQuest, the global Zero Trust Security Market size was valued at USD 25.5 billion in 2022 and is poised to grow from USD 31.6 billion in 2023 to USD 99.7 billion by 2031, growing at a CAGR of 15.5% during the forecast period (2024-2031).

Zero trust facilities provide secure access to cloud-based apps and data. Organizations need to develop robust data protection mechanisms to comply with stringent data privacy regulations such as the GDPR and CCPA. Companies using the mistrust policy are playing an increasing role in industries as a primary security system. The traditional range-based model is being abandoned. Large tech companies are buying security services without guarantees to improve security services.

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Zero Trust Security Market Overview:

Report Coverage

Details

Market Revenue in 2023

USD 31.6 billion

Estimated Value by 2031

USD 99.7 billion

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Growth Rate

Poised to grow at a CAGR of 15.5%

Forecast Period

2024–2031

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Offering, Deployment, Authentication Type and End-User

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Geographies Covered

North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Increasing Adoption of Cloud Technology 

Key Market Drivers

Increasing Number of Cyber Threats and Data Breaches 

Segments covered in Zero Trust Security Market are as follows:

  • Offering
    • Software, Service
  • Deployment
    • Cloud, On-premise, Multi-Cloud/Hybrid
  • Authentication Type
    • Multi-Factor Authentication, and Single-Factor Authentication
  • End-User
    • IT and Telecom, BFSI, Manufacturing, Healthcare, Energy and Power, Retail, Government, Other Industries

Request Free Customization of this report:
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BFSI Sector: Verifying Endpoints with Confidence

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The BFSI sector is optimal for implementing zero trust security solutions, as being the segment most susceptible to such threats and subjected to strict legal restraints. BFSIs have identified key factors to explain why who must invest in cybersecurity, such as the increasing number of ransomware attacks, regulations and forced labor. In short, remote employees and third parties also have additional information as it is difficult to express themselves. The introduction of zero trust security market is accelerating in this sector due to widespread adoption.

Healthcare organizations are now rapidly adopting trustless security, as the need for improved access control and protection of patient data is essential. Lack of trust through a minimum privilege policy make it possible for doctors to access all patient records simultaneously. This access is the important one as it is often the target of cybersecurity threats so issues with patient data being breached security and industry compliance makes healthcare one of the fastest growing markets for trust-free security solutions.

Empowering Multifactor Authentication Segment: Zero Trust Security for Every Role

A key segment in the zero trust security market is multifactor authentication. Companies such as Microsoft, Google and the industry identified the most reliable way to deal with security attacks as Multi-Factor Authentication (MFA) with a ranking of 99. It also found that 9% of automated bot threats have been blocked for therefore it established its trust to enhance security. This great success rate of zero trust security encourages the use of MFA as an important prospective means of constantly obtaining and verifying its authorization. MFA is gaining popularity among organizations for mitigating new and improved threats as its adoption helps expand the zero security market among organizations to protect their valuable assets.

The single-factor approach uses only one credential for authentication, such as a password or OTP as opposed to a username. In this authentication mode, it is important to use a combination of letters, cases, numeric values and symbols to ensure that a strong password is created because this creates difficulties and time for hackers to use permutations and combinations.

View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/zero-trust-security-market

Fortifying the Future: The Impact and Promise of the Zero Trust Security Market

The future of the uncertainty-free security market is promising, driven by continued technological advancement and increased awareness of cyber threats. Emerging technologies such as artificial intelligence, machine learning and behavioral analytics enhance the power of trustless solutions, making them more flexible and intelligent.

As cyber threats evolve, reliance on imperfect modeling will play an important role in future proofing and cybersecurity measures, all firmly designed to ensure that organizations are protected. The zero trust security market is poised to redefine the cybersecurity landscape.

Related Report:

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Cyber Security Market

Network Security Market

Endpoint Security Market

Managed Security Services Market

Application Security Market

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: [email protected]
Visit Our Website: https://www.skyquestt.com/

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Latest News

COCA Celebrates Q2 2024 with Record-Breaking Milestones and New Launches

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HONG KONG, Aug. 7, 2024 /PRNewswire/ — COCA, a pioneering force in the crypto wallet and financial services industry, has achieved several remarkable milestones in Q2 2024. Thanks to the steadfast support of its user community, COCA has launched new features, expanded its partnerships, and garnered prestigious accolades, further solidifying its position as a leader in the crypto space.

Launch of Physical Cards

COCA has introduced its highly anticipated physical cards, which are now available globally and compatible with Apple Pay and Google Pay. These cards allow users to make transactions with ease, earning cashback rewards on their purchases. This significant launch marks a step forward in integrating crypto with everyday financial activities, enhancing user convenience and financial flexibility.

Wallet Growth Milestone

The company has reached a significant milestone with 510,000 active wallets, reflecting a 102% growth quarter-on-quarter. This surge in active wallets highlights the increasing trust and adoption of COCA’s platform, as more users join the COCA community to manage their crypto assets securely and efficiently.

Transaction Volume Surge

In Q2 2024, COCA processed over USD 450,000 in transactions through its platform, demonstrating the robust usage and popularity of its financial services. This impressive transaction volume underscores COCA’s commitment to providing smooth and efficient crypto payment solutions.

Integration with Revolut

COCA has made it easier for users to fund their wallets by integrating with Revolut. This new feature allows seamless loading of crypto assets, enhancing the overall user experience and accessibility of COCA’s services.

Award Recognition

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COCA has been honoured with the “Best Startup” award in the Financial Revolution category at CONF3RENCE & BLOCKCHANCE 2024. This award is a testament to COCA’s innovative approach and significant impact on the future of finance, recognizing its efforts in driving forward the digital financial ecosystem.

New Strategic Partnerships

COCA has formed strategic partnerships with industry leaders such as Wirex Pay and GoMining. These collaborations aim to provide users with enhanced rewards and a superior overall experience. The partnerships signify COCA’s dedication to expanding its ecosystem and delivering greater value to its users.

Welcoming Pavel Matveev

COCA is excited to announce the addition of Pavel Matveev, Founder of Wirex, to its team as a Strategy and Product Advisor. Pavel’s extensive experience and visionary approach are expected to drive COCA’s strategic initiatives and product development, contributing to the company’s continued growth and innovation.

Season 2 Point System Launch

Season 2 of COCA’s popular point system has launched, offering users the opportunity to earn points through various activities, including trades, referrals, holding assets, and spending with COCA cards. With a prize pool of USDT 3500 and 5 Wirex Pay Nodes, this season promises exciting rewards and increased user engagement. The season ends on August 9th, so users are encouraged to participate actively.

NFT Giveaway

In a special giveaway, COCA distributed 1000 GoMining NFTs to lucky users. These NFTs provide unique benefits, including enhanced mining capabilities and exclusive digital collectibles, adding significant value to the user experience.

For further details on COCA’s Q2 achievements and upcoming initiatives, visit the company’s blog.

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Website: coca.xyz

COCA continues to redefine the crypto experience with its innovative solutions, seamless integrations, and user-focused approach. The company’s recent milestones and future plans highlight its commitment to leading the way in the digital financial landscape.

About COCA

COCA is a next-generation crypto super app designed to simplify and secure the crypto experience for users worldwide. With innovations in security, usability, and integration, COCA is at the forefront of the digital asset revolution. For more information, visit coca.xyz.

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Stake and Earn with KuCoin’s Innovative GemPool Platform

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VICTORIA, Seychelles, Aug. 7, 2024 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to announce the launch of GemPool, its innovative new platform that allows users to acquire token airdrops as a reward for staking their crypto assets. This unique product is designed to provide early access to emerging crypto projects while offering rewards for their existing holdings at zero cost. By staking respective tokens in separate pools, users can farm new tokens and gain a foothold in the latest developments within the cryptocurrency market.

GemPool also offers flexible staking terms, allowing users to stake and un-stake their assets anytime within the designated period without lock-up restrictions. This flexibility ensures that users can manage their assets according to their preferences and market conditions. Additionally, GemPool provides zero-cost rewards, enabling users to earn tokens while holding their existing cryptocurrencies. By staking their tokens, users contribute to the growth of promising new projects, supporting innovation and development within the crypto space. With completion of tasks offered, users are eligible to earn multiplier bonus and receive more rewards.

Users can participate by staking KCS, USDT, or other specified assets in designated pools. The rewards are earned according to the respective yields of the pools, ensuring a fair and exciting experience for all users.

For more information on how to participate and the benefits of GemPool, please visit the KuCoin GemPool page.

About KuCoin

Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.

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Trust Wallet Launches Gamified Education Platform and Loyalty Program to Enhance and Reward Web3 Learning

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DUBAI, UAE, Aug. 7, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet and Web3 gateway trusted by over 130 million users, has launched Trust Wallet Quests, a gamified education platform within the Trust Wallet mobile app which encourages users to earn points while exploring and learning about Web3.

Users can engage in task-based challenges ranging from quizzes to complex problem-solving scenarios composed of various DeFi and Web3 activities, all designed to deepen their understanding of blockchain technology and decentralized applications (dApps), and expose them to exciting opportunities within Web3. As an incentive, users will earn Trust Points, a loyalty-based points system designed to reward user activity within the Trust Wallet mobile app. With Trust Points, users can earn rewards upon the completion of specific tasks, making Web3 more rewarding and fun.

In the future, Trust Points will offer additional gamification features, such as unlocking achievements, badges, and levels. This interactive approach not only boosts individual learning but also contributes to broader community education and adoption of decentralized technologies, making Trust Wallet Quests a dynamic and exciting way to reward loyal users and engage with communities in Web3.

On the motive for launching Trust Wallet Quests, Eowyn Chen, CEO of Trust Wallet, stated: “The complex technology and fast-paced industry can be intimidating for both new and seasoned users. The introduction of Quests on Trust Wallet further solidifies our commitment to making it easier for millions to navigate Web3, aligning perfectly with our mission to build a seamless Web3 hub and open ecosystem for all.”

Nate Zou, Head of Product at Trust Wallet, highlighted what to expect from Trust Points and Trust Wallet Quests: “Trust Points and Quests are just the first iteration of a much-needed reward system for our community. Within 2024, we have plans to build on this, combining rewards with many of our other web3 product offerings. Overall, we envision this points system not only changing how users engage with Trust Wallet, but also encouraging more collaboration between Trust Wallet, our users and other web3 ecosystem players.”

Trust Wallet Quests and Trust Points are now available on both Android and iOS versions of Trust Wallet’s mobile app. Download here: https://short.trustwallet.com/TrustWalletQuests

About Trust Wallet

Trust Wallet is the self-custody, multi-chain Web3 wallet and Web3 gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, buy, sell, and stake crypto to earn rewards, all in one place and without limits.

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