Artificial Intelligence
Zero Trust Security Market Size to Grow USD 126.02 Billion by 2031 at a CAGR of 18.5% | Valuates Reports
BANGALORE, India, Dec. 13, 2023 /PRNewswire/ — Zero Trust Security Market is Segmented by Component (Solution, Services), by Deployment Model (On-premise, Cloud), by Enterprise Size (Large Enterprises, SMEs), by Authentication (Single-factor Authentication, Multi-factor Authentication), by Industry Vertical (BFSI, Government, IT and Telecom, Manufacturing, Healthcare, Retail, Energy and Utilities, Others): It is Published in Valuates Reports Under the Category of Networking.
The Global Zero Trust Security Market was valued at USD 23.61 Billion in 2021 and is projected to reach USD 126.02 Billion by 2031, growing at a CAGR of 18.5% from 2022 to 2031.
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Major Factors Driving the Growth of Zero Trust Security Market
Numerous important variables are responsible for the zero-trust security market’s explosive rise. Organizations are seeing the limits of traditional security methods more and more as a result of the growing sophistication of cyber attacks and the widespread use of remote work. The necessity for zero-trust security solutions has grown as a result of the dynamic nature of contemporary cyberattacks and the requirement for strong defenses in the face of remote work trends.
In the context of the zero-trust security architecture, multi-factor authentication (MFA) is essential and greatly enhances the overall efficacy of this strategy. Along with usernames and passwords, MFA provides an extra layer of authentication that fits in perfectly with the zero-trust principles.
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TRENDS INFLUENCING THE GROWTH OF THE ZERO TRUST SECURITY MARKET
The constant development of cyber threats in today’s digital environment has become a key factor propelling the zero-trust security market’s explosive expansion. The intricacy and variety of contemporary cyberattacks sometimes outpace the capabilities of conventional protection solutions. This problem is addressed by zero trust, which operates on the premise of assuming zero trust even inside the network perimeter. It does this by authenticating each person and device regardless of where they are or where they enter the network.
Organizations are also realizing the shortcomings of conventional security methods. By adding adaptive risk assessment and ongoing monitoring, zero trust offers a dynamic defense system that changes with the times to meet evolving cyber threats. Organizations are able to keep ahead of possible security breaches by using this proactive strategy.
The conventional network architecture has changed due to the growing usage of cloud services, becoming more dispersed and flexible. This paradigm change is easily aligned with zero trust, which guarantees that security rules are implemented regardless of the user’s location or the underlying infrastructure. Zero trust is the perfect security approach for the cloud era because of its versatility.
Organizations must implement strong security measures in order to comply with strict data protection rules and compliance requirements. By lowering the possibility of unauthorized access and data breaches, zero trust, with its emphasis on ongoing verification and stringent access restrictions, assists organizations in meeting regulatory obligations.
Zero-trust security is scalable, making it appropriate for a range of organizational sizes. The adaptable and flexible design of zero trust enables successful deployment without placing a heavy operational load on small or large businesses. A user-centric security strategy, which emphasizes the necessity of validating each person and device accessing organizational resources, is embodied by zero trust. This strategy guarantees that security measures are deployed without sacrificing user experience, which further contributes to the widespread adoption of zero-trust security solutions. It also corresponds with the flexible expectations of the modern workforce.
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ZERO TRUST SECURITY MARKET SHARE ANALYSIS
In terms of technical acceptance and improvements, North America is a fast-expanding market within the global zero-trust security business. It has reasonably priced Zero Trust Network security solutions and a well-equipped infrastructure. The expansion of the zero trust security market in North America is also driven by major companies offering better protection for data by guaranteeing rapid access and expanding the reach of their services to customers, a result of increased rivalry among cloud-based service providers in the area.
During the Zero Trust Security Market Forecast period, the multi-factor authentication sector is anticipated to expand at the fastest pace due to the need for users to submit two or more verification factors in order to access any online account, application, or VPN.
Over the course of the projection period, the services are anticipated to increase at the fastest rate. The increasing acceptance of zero-trust security services by small and medium-sized organizations (SMEs) and the escalation of security threats are contributing factors to the growth of this industry.
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Key Players:
CISCO SYSTEMS INCIBMAkamai Technologies, Inc.ZscalerVMware IncMicrosoft CorporationCloudflareGoogleCyxtera TechnologiesSonicWALLPalo Alto NetworksCheck Point Software TechnologiesTrend Micro Inc.Symantec CorpFireEyeMcAfee Corp.Purchase Regional Data: https://reports.valuates.com/request/regional/ALLI-Manu-1L70/Zero_Trust_Security_Market
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– Zero Trust Security Model market is projected to reach USD 51080 million in 2029, increasing from USD 23610 million in 2022, with the CAGR of 11.6% during the period of 2023 to 2029.
– Zero Trust Network Security Service market is projected to reach USD 1338.6 million in 2029, increasing from USD 835 million in 2022, with the CAGR of 7.2% during the period of 2023 to 2029.
– Zero Trust Security Solutions Market
– Zero Trust Security Vendor Market
– Zero Trust Enterprise Security market is projected to reach USD 17200 million in 2029, increasing from USD 5087 million in 2022, with the CAGR of 19.0% during the period of 2023 to 2029.
– Zero Trust Cloud Security Corporate Platform market is projected to reach USD 17200 million in 2029, increasing from USD 5087 million in 2022, with the CAGR of 19.0% during the period of 2023 to 2029.
– Zero Trust Access Control System Market
– Zero Trust Identity Security Service Platform Market
– Zero Trust Networking Software market is projected to reach USD 1473 million in 2029, increasing from USD 987 million in 2022, with the CAGR of 5.7% during the period of 2023 to 2029.
– Zero Trust for Saas Applications market is projected to reach USD 14650 million in 2029, increasing from USD 4275 million in 2022, with the CAGR of 19.2% during the period of 2023 to 2029.
– Zero Trust Cloud Security Platform market is projected to grow from USD 5087 million in 2023 to USD 14610 million by 2029, at a Compound Annual Growth Rate (CAGR) of 19.2% during the forecast period.
– Zero Trust Strategy Service Market
– Zero Trust Remote Browser Isolation market is projected to reach USD 3820.8 million in 2029, increasing from USD 582 million in 2022, with the CAGR of 31.0% during the period of 2023 to 2029.
– Zero Trust Network Access (ZTNA) Solution Market
– Zero Trust Maturity Model Market
– Zero Trust Architecture market is projected to reach USD 85190 million in 2029, increasing from USD 28900 million in 2022, with the CAGR of 16.7% during the period of 2023 to 2029.
– Zero Trust Data Loss Prevention (DLP) Solution Market
– Zero Trust Browsing Industry
– Enterprise VPN Market
– Call Center Workforce Optimization Software market is projected to reach USD 1783.1 million in 2029, increasing from USD 1161 million in 2022, with the CAGR of 6.2% during the period of 2023 to 2029.
– Marketing Resource Management Software market is projected to reach USD 10170 million in 2029, increasing from USD 6856 million in 2022, with the CAGR of 5.7% during the period of 2023 to 2029.
– Structured Data Archiving and Application Retirement Software market is projected to reach USD 135.6 million in 2029, increasing from USD 69 million in 2022, with the CAGR of 9.9% during the period of 2023 to 2029.
– Perimeter Security market size is estimated to be worth USD 124860 million in 2022 and is forecast to a readjusted size of USD 186330 million by 2028 with a CAGR of 6.9% during the review period.
– Deep Packet Inspection (DPI) market size is projected to reach USD 26390 million by 2028, from USD 5442.5 million in 2021, at a CAGR of 25.0% during 2022-2028.
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Artificial Intelligence
GEEKOM releases a perfect mini PCs with dual 2.5Gbps Ethernet ports – GEEKOM GT1 MEGA
TAIPEI, Sept. 20, 2024 /PRNewswire/ — GEEKOM, a Taiwanese tech company also known as the Green Mini PC Global Leader, recently released a strong lineup of flagship mini PCs with Intel Core Ultra processors and dual Ethernet ports, making it possible for users to enjoy impeccable performance and superb networking functionalities at the same time.
One of these mini PCs is the GEEKOM GT1 Mega, which employs a beautiful aluminum chassis with plenty of I/O, including two full-function 40Gbps USB4 Type-C, six USB Type-A, 2 HDMI2.0, a 3.5mm audio jack, an SD card reader and dual Ethernet ports. The two Ethernet jacks are both of 2.5Gbps standard, which not only delivers high-speed and reliable internet connection for people’s daily computing chores, but also enables the mini PC to serve more sophisticated networking functionalities as a soft router, a virtual machines, a hardware firewall, or even a home server. Besides, dual Ethernet ports can separate internal and external network connections, providing logical and physical separation of trusted and untrusted network traffic and keeping data safe from potential cyber-attacks.
The GT1 Mega is powered by Intel’s latest and smartest Core™ Ultra processor (up to CoreTM U9-185H) and dual-channel DDR5-5600MHz RAM. Thanks to the new CPU, GPU, and NPU three tier multi-processing architecture, the mini PC is ready to harness the superpowers of Artificial Intelligence. It is compatible with more than 500 AI models across 20+ categories and supports high-performance low-power processing in a wide range of computing scenarios, which include enhancing facial features and blurring the background during video calls, removing the vocals from songs to create karaoke tracks, and generating large-scale images based on texts or voice commands. Basically, the GT1 Mega allows users to finish tasks that used to take hours or even days through only a few keystrokes!
The GEEKOM GT1 Mega,is now available on GEEKOM’s official website.
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SAN FRANCISCO, Sept. 19, 2024 /PRNewswire/ — Lucinity and Sift have announced a partnership, unifying fraud and Anti-Money Laundering (AML) into Lucinity’s integrated FinCrime compliance platform for case management, agent-enabled workflow automation, and Generative AI.
Sift is an AI-powered fraud platform securing digital trust for leading global businesses. Its Global Data Network analyzes more than 1 trillion events and identity signals per year to prevent fraud across the entire consumer journey. Lucinity and Sift formed this new partnership to address the challenges of fragmented fraud and AML systems, aiming to centralize and enhance financial crime investigations.
Sift’s AI-powered solution will now be integrated into Lucinity’s platform. This collaboration enhances Lucinity’s ability to provide a seamless and efficient compliance solution. It allows teams to review and manage fraud alerts more effectively through Lucinity’s unified Case Management system, thanks to the native integration between the systems. Key benefits to Lucinity’s users include:
Real-Time Fraud Screening: Payments are screened for potential fraud in real time, utilizing Sift’s fraud detection capabilities.Automatic Payment Holds: Payments suspected of fraud are temporarily held, ensuring verification before processing.Streamlined Reviews: Compliance teams can conduct thorough reviews of flagged payments within Lucinity’s Case Management solution.Risk Level Adjustments: Fraud detection parameters can be customized to adjust sensitivity levels, adapting to emerging fraud trends and risk appetites.This partnership also enables users to leverage Lucinity’s Generative AI capabilities through the Luci copilot to investigate fraud cases more efficiently.
Udi Nessimyan, President and Chief Revenue Officer of Lucinity, comments, “One of the greatest challenges in fighting financial crime is fragmented systems and data. Our partnership with Sift helps address this challenge by providing a centralized platform for various case types, including AML, fraud, sanctions, and ad hoc cases. Our collaboration significantly enhances the productivity of investigation teams, reducing the time spent on cases from hours to minutes.”
Sift’s Chief Marketing Officer, Armen Najarian, emphasizes the collaborative effort to enhance financial crime prevention, stating, “Cybercriminals are increasingly leveraging AI to bypass traditional anti-money laundering and fraud controls, creating sophisticated and dynamic threats. To combat these evolving risks, companies must adopt a ‘fight fire with fire’ approach by leveraging AI-powered solutions. Through Sift’s partnership with Lucinity, businesses can stay ahead of fraudsters, ensuring robust protection against abuse and enabling fearless growth.”
About Sift: https://sift.com About Lucinity: https://lucinity.com
Media contact:Celina [email protected] +354 792 4321
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Artificial Intelligence
Employee Background Check Software Market Size to Grow USD 828.8 Million by 2030 at a CAGR of 4.9% | Valuates Reports
BANGALORE, India, Sept. 19, 2024 /PRNewswire/ — Employee Background Check Software Market is Segmented by Type (Cloud-Based, On Premises), by Application (SMEs, Large Enterprises): Global Opportunity Analysis and Industry Forecast, 2024-2030.
The Global Employee Background Check Software Market was valued at USD 587 Million in 2023 and is anticipated to reach USD 828.8 Million by 2030, witnessing a CAGR of 4.9% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Employee Background Check Software Market:
The employee background check software market is growing due to increasing demands for secure hiring processes and regulatory compliance, especially in industries such as finance, healthcare, and IT. As companies look to reduce risks associated with fraud, legal liabilities, and workplace safety, background checks are becoming a critical part of recruitment processes. The rise of remote work has further accelerated the need for digital solutions. However, challenges include concerns over data privacy and varying legal frameworks across regions, which may slow adoption in some areas.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL EMPLOYEE BACKGROUND CHECK SOFTWARE MARKET:
Cloud-based background check software is gaining traction due to its scalability, remote access, and cost-effectiveness. With cloud-based systems, businesses can streamline their hiring processes, particularly when operating across multiple locations. The ability to access data and conduct checks in real-time is highly valuable for organizations managing large workforces or remote employees. The flexibility and lower upfront investment of cloud-based solutions make them popular among businesses seeking efficient and adaptable systems for their recruitment processes.
On-premises solutions remain important for organizations with strict security and data control requirements, such as those in government, defense, or finance. These companies often need complete ownership of their data, which on-premises software offers, reducing the risk of external breaches. Although it requires significant upfront investment and maintenance, on-premises software provides a high level of customization and security. It’s especially useful for businesses dealing with sensitive information and industries where compliance with local data protection laws is critical.
Large enterprises, particularly those operating in regulated industries like banking and healthcare, are the major adopters of employee background check software. These organizations deal with large volumes of hires, making streamlined background checks essential for compliance and operational efficiency. The ability to integrate background check systems with existing HR tools, such as applicant tracking systems, allows large companies to manage their recruitment processes more effectively. The need for comprehensive and accurate background checks is crucial for mitigating risk and ensuring legal compliance.
The rise in remote working has increased the demand for background check software that allows companies to vet employees regardless of their location. Digital background checks, particularly cloud-based ones, make it easier for organizations to screen remote workers efficiently. This trend is expected to continue as more companies adopt hybrid or fully remote work models, where geographical barriers no longer restrict talent acquisition but require thorough and remote-friendly verification processes.
As regulatory frameworks for employment practices become more stringent globally, businesses are increasingly relying on background check software to ensure compliance. Laws like the General Data Protection Regulation (GDPR) in Europe and the Fair Credit Reporting Act (FCRA) in the U.S. have made it mandatory for companies to conduct background checks within specific legal parameters. This has led to increased demand for software solutions that can automate these processes while maintaining compliance with regional and international laws.
A major trend in the employee background check software market is the integration of these solutions with human resources management systems (HRMS). Integrating background checks with HR software streamlines the hiring process by consolidating background checks, employee records, and onboarding into one system. This improves operational efficiency for businesses, particularly large enterprises that handle significant recruitment volumes. Integration with HRMS allows for real-time updates, making background screening an even more integral part of the hiring process.
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EMPLOYEE BACKGROUND CHECK SOFTWARE MARKET SHARE
North America dominates the market due to stringent employment regulations and widespread adoption across industries. Europe is another key region, driven by GDPR compliance and demand in finance and healthcare. The Asia-Pacific region is experiencing rapid growth due to increasing awareness of the importance of background checks, especially in countries like China and India, where digital hiring platforms are becoming more popular. The market is also expanding in the Middle East and Africa as businesses prioritize secure hiring practices.
Key Companies:
HireRightGoodHireCheckrSterlingHireologyINTELIFIGood EggPeopleG2VitayCertnGlobal HR ResearchVeritable ScreeningXrefZincPaycomADPVICTIGIntelliCorp (Cisive)SpringVerifyAsurintUniversalAssureHireVerified FirstHireSafePurchase Chapters: https://reports.valuates.com/request/chaptercost/QYRE-Auto-2A10579/Global_Employee_Background_Check_Software
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– Employer of Record Services market was valued at USD 128.2 Million in 2023 and is anticipated to reach USD 196 Million by 2030, witnessing a CAGR of 6.8% during the forecast period 2024-2030.
– Employee Engagement Platform market was valued at USD 805 Million in 2023 and is anticipated to reach USD 2217.4 Million by 2030, witnessing a CAGR of 15.5% during the forecast period 2024-2030.
– Employee Advocacy Platforms market was valued at USD 533 Million in 2023 and is anticipated to reach USD 1020.8 Million by 2030, witnessing a CAGR of 9.7% during the forecast period 2024-2030.
– Employee Feedback Software market is projected to grow from USD 499.5 Million in 2024 to USD 1287.8 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period.
– Employee Productivity Tracking Software market is projected to reach USD 311.8 Million in 2029, increasing from USD 219 Million in 2022, with the CAGR of 5.2% during the period of 2023 to 2029.
– Employee Feedback Software market is projected to grow from USD 499.5 Million in 2024 to USD 1287.8 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period.
– Employee Rewards and Recognition Software Market
– Employee Productivity Monitoring Software Market
– Employee Recognition Software market was valued at USD 2247 Million in 2023 and is anticipated to reach USD 4186.4 Million by 2030, witnessing a CAGR of 8.9% during the forecast period 2024-2030.
– Employee Lockers Market
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Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that’s why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.
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