Zero-trust security market to reach $64.4B by 2027

Amid the COVID-19 crisis, the global market for zero-trust security estimated at $18.3 billion in the year 2020, is projected to reach a revised size of $64.4 billion by 2027, growing at a CAGR of 19.7% over the period 2020-2027, according to ResearchAndMarkets.

On-Premise, one of the segments analyzed in the report, is projected to record 19% CAGR and reach US$39.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cloud segment is readjusted to a revised 20.8% CAGR for the next 7-year period.

The zero-trust security market by region

The zero-trust security market in the U.S. is estimated at $5.4 billion in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of $11.1 billion by the year 2027 trailing a CAGR of 19% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.8% and 17% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 14.4% CAGR.