Artificial Intelligence
Zero Trust Security Market worth $66.6 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, July 31, 2024 /PRNewswire/ — The Zero Trust Security Market size is projected to grow from USD 30.9 billion in 2024 to USD 66.6 billion by 2029 at a compound annual growth rate (CAGR) of 16.6% during the forecast period, according to a new report by MarketsandMarkets™. Zero Trust Security is a contemporary cybersecurity framework that transforms how organizations think about security by following the principle of “never trust, always verify.” This implies that no user or device is automatically trusted, irrespective of their place in relation to the network perimeter. Its main ideas involve explicitly verifying every access request using every piece of information available, including user identity, device health, and location. Access to the minimum required is limited through Just-In-Time (JIT) and Just-Enough-Access (JEA) policies.
Browse in-depth TOC on “Zero Trust Security Market”
275 – Tables51 – Figures330 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018–2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
By Offering, By Security Type, By Authentication Type, By Vertical, and By Region
Geographies covered
North America, Europe, Asia Pacific, Middle East Africa, and Latin America
Major companies covered
Major vendors in the global Zero Trust Security market include PaloAltoNetworks(US),VMware(US),Zscaler(US),Akamai(US),
Microsoft(US),Cisco(US),IBM(US),Qnext(US),
Citrix(US),Checkpoint(Isreal),Trellix(US),Forcepoint(US), Crowdstrike(US), Cloudflare (US),Fortinet(US),Google(US).
Organizations assume that breaches might have occurred already, which leads to strategies aimed at minimizing their impact, such as segmenting access and ensuring end-to-end encryption. Zero Trust was created as an answer to traditional perimeter-based models’ weaknesses, which normally assumed that internal users were safe. Because they are often based on legacy systems, it may be complicated for legacy systems to adopt zero trust; thus, adoption should begin with strong identity verification before moving on. These include improved security, less attack surface, and better compliance benefits. Also, more organizations can adopt it because of the increase in the increase in remote working and cloud services, which makes it vital for zero trust adoption.
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By Offering, the services segment will grow at the highest CAGR during the forecast period.
A number of factors are accelerating the growth of the zero-trust security market through the services segment. Deployment of zero-trust security is a sophisticated architectural change for which niche skills are required, which most organizations may not have within their in-house teams. This is where service providers fill that gap by helping an organization make such a transition. Growth has been driven by this demand for managed security services due to the fact that zero trust requires everything to be monitored and managed, which MSS providers deliver on through 24/7 support. Consulting services are needed to drive end-to-end zero-trust strategies that arm organizations with proper advisory capabilities in the areas of risk assessment, policy development, and technology selection. It caters to zero-trust solution integration and customization services, while risk assessment and compliance services manage associated ongoing risks and assure the required adherence. Besides, the training and awareness programs conducted by the service provider will help employees gain knowledge about zero-trust principles and ensure their proper implementation. Hence, complex zero-trust security coupled with a requirement for specialized expertise has generated strong demand for such services and hence driven market growth.
By Authentication Type, the multi-factor authentication segment will grow at a highest market size during the forecast period.
Multi-Factor Authentication (MFA) is in fact the underpinning access security mechanism for zero trust security that tops the market for multiple reasons. It really multiplies protection by being very difficult for an unauthorized person, as one needs to pass through multiple checks. Many of the on-boarded, high-value pieces of information include regulations such as GDPR, CCPA, and HIPAA necessitating the use MFA for protecting sensitive information. Cyberattacks based on stolen credentials could be easily mitigated by MFA. There are not a lot of available results highlighting the effectiveness preventing it. That works across a wide range of systems and applications, so it can be a one-stop shop to cater to all access scenarios where digital resources are involved, driven by the need for better controls altogether. But resistance often comes from change, but then everybody relies on access-externalized (i.e., names, addresses, and PINs/passwords) secrecy. Many more now put names and addresses and personal photos and videos in public-facing books globally shared with scores or hundreds of app publishers wanting you to access their apps’ features in the car-sharing economy, representing minimal shares from trillion-dollar businesses. Access technologies and technologies have miserably failed the long-awaited common-sense test, and only IDaaS guarantees decision-based real-time enforcement and dynamic secure real-time integration within the scope of the ecosystem infrastructure security architecture.
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By region, Asia Pacific will grow at the highest CAGR during the forecast period.
The Asia Pacific is poised to grow at the highest CAGR in the zero-trust security market during the forecast timeframe. Growing cyber threats in countries including China, India, and Japan are supporting regional growth. For instance, in May 2017, the entire production networks of several Taiwan-based companies were disrupted owing to a massive ransomware attack named WannaCry. The region has witnessed an upsurge in cases of data breaches, causing a high demand for secure solutions. The rapid digital transformation in growing economies, including India and China, has led to increased vulnerability for attackers demanding a strong security posture. Moreover, stringent regulations on data privacy enforced by government bodies such as the PDPA of Singapore and the Privacy Act of Australia are compelling organizations to adopt zero-trust frameworks, ensuring compliance.
Top Key Companies in Zero Trust Security Market:
Major vendors in the global Zero Trust Security Market include Palo Alto Networks(US), VMware(US), Zscaler(US), Akamai(US), Microsoft(US), Cisco(US), IBM(US), Qnext(US), Citrix(US), Checkpoint(Isreal), Trellix(US), Forcepoint(US), Crowdstrike(US), Cloudflare(US), Fortinet(US), and Google(US). The study includes an in-depth competitive analysis of the key Zero Trust Security Market players, their company profiles, recent developments, and key market strategies.
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Artificial Intelligence
Flat Ads Makes Its Mark at DMEXCO 2024: Showcasing Strength in Programmatic Advertising
COLOGNE, Germany, Sept. 20, 2024 /PRNewswire/ — In September, Flat Ads makes its mark at DMEXCO 2024, the prestigious European event of digital marketing and technology. The highly successful exhibition boasts 650 exhibitors, 850 speakers, and thousands of participants. At the event, Flat Ads showcased the strength of programmatic advertising platform in ad delivery, traffic optimization, and brand safety.
Flat Ads programmatic advertising platform has an exclusive developer traffic of 700 million and an extensive network spanning over 200 countries and regions worldwide. It cooperates with over 200 leading DSP/SSP partners, including FreeWheel, PubMatic and Criteo, leveraging an efficient and complete bidding system, as well as automatic delivery algorithms, to achieve precise marketing and advertising effectiveness maximization.
With its exclusive platform strategy algorithm, Flat Ads programmatic advertising platform can continuously conduct automatic exploration and matching based on the characteristics of DSP and traffic, optimize and adjust the algorithm model in real-time. This not only ensures the sustainability of DSP budgets, but also maximizes traffic utilization and enhances monetization revenue of advertisements.
Moreover, brand protection is among the top priorities of Flat Ads. In addition to accessing to authority agency Pixalate to test the effectiveness of ads, it has also accessed HUMAN, the global cybersecurity authority to safeguard its clients by preventing bot attacks, digital fraud and abuse, ensuring a stable, reliable, and secure programmatic advertising transaction platform.
By participating in DMEXCO 2024, Flat Ads showcased its outstanding strength and fruitful achievements in the programmatic advertising field, attracting the attention of numerous advertisers and developers for cooperation. Flat Ads boasts not only robust technical capabilities and innovative prowess, but also an active and open attitude towards emerging technologies, embracing and exploring them. It remains committed to providing more professional and efficient global marketing services to advertisers and developers worldwide, helping clients stand out in the fiercely competitive market and achieve business growth.
As a globally leading mobile advertising marketing platform, Flat Ads currently operates offices in Singapore, Indonesia, Hong Kong, and Guangzhou, serving over 1000 clients with global marketing solutions. If you’re interested in Flat Ads’ programmatic advertising services, please visit www.flat-ads.com.
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Artificial Intelligence
Fraud Detection & Prevention Market to Reach $252.7 Billion, Globally, by 2032 at 24.3% CAGR: Allied Market Research
The introduction of big data analytics, cloud computing services, and an upsurge in mobile payment drive the growth of the market.
PORTLAND, Ore., Sept. 20, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Fraud Detection & Prevention Market by Component (Solution and Service), Deployment Mode (On-Premises and Cloud), Organization Size (Large Enterprises and Small and Medium-sized Enterprises) and Industry Vertical (BFSI, IT and Telecom, Retail, Healthcare, Government and Defense, Manufacturing, Transportation and Logistics and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the “fraud detection & prevention market” was valued at $29.5 billion in 2022, and is projected to reach $252.7 billion by 2032, growing at a CAGR of 24.3% from 2023 to 2032.
The introduction of big data analytics, cloud computing services, and an upsurge in mobile payment drive the growth of the market. In addition, the rise in the adoption of banking & financial sectors across the globe fuels the growth of the market. Moreover, continuous technological advancements are expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, the high cost of fraud detection and prevention solutions limits the growth of the fraud detection & prevention market.
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The solution segment held the highest market share in 2022.
By component, the solution segment dominated the market in 2022, this dominance is driven by the increasing demand for advanced technological solutions that can effectively detect, monitor, and prevent fraudulent activities across various industries such as banking, e-commerce, and insurance. Solutions like AI-based fraud detection, machine learning algorithms, and behavioral analytics have become critical tools in identifying potential fraud in real time and reducing financial losses. However, the service segment is expected to witness the largest CAGR of 28.0%, this growth is driven by the increasing need for specialized services such as consulting, implementation, and maintenance to help organizations effectively integrate and optimize fraud detection solutions.
The BFSI segment held the highest market share in 2022.
By industry vertical, the BFSI segment accounted for the largest share in 2022. This is primarily due to the high frequency and sophistication of fraud targeting financial institutions, making fraud detection and prevention solutions a critical need in the BFSI sector. Financial transactions, online banking, and digital payments are particularly vulnerable to cyberattacks, phishing schemes, and identity theft, driving the sector’s substantial investment in advanced fraud detection technologies. However, the retail segment is expected to witness the largest CAGR of 32.7%. This anticipated growth is driven by several factors. Retailers are increasingly targeted by fraudsters due to the high volume of transactions and the sensitivity of customer data involved. As e-commerce and digital transactions expand, the need for advanced fraud detection and prevention solutions becomes more critical.
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Regional Insights: The North America region held the highest market share in 2022.
By region, the fraud detection & prevention market was dominated by North America in 2022. North America, particularly the U.S., has a highly developed financial and technological infrastructure that supports advanced fraud detection solutions. The region’s significant investments in cybersecurity and fraud prevention technologies, combined with a high incidence of cyber threats, drive continuous innovation and adoption of sophisticated fraud management systems.
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Key Industry Developments
In February 2024, the U.S. Department of the Treasury announced that it has recovered over $375 million as a result of its implementation of an enhanced fraud detection process that utilizes Artificial Intelligence (AI) at the beginning of Fiscal Year 2023.In April 2024, Cognizant collaborated with FICO, to launch a cloud-based real-time payment fraud prevention solution powered by FICO Falcon Fraud Manager. The joint offering would leverage both firms’ artificial intelligence (AI) and machine learning (ML) technology to help banks and other payment service providers in North America protect their customers from fraud in the growing world of instant digital payments.In September 2022, Deutsche Bank collaborated with Visa, to help prevent online retail fraud. Merchants who process their e-commerce payments via Deutsche Bank can now use “Decision Manager,” an automated fraud detection system from Visa-owned company Cybersource.AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):
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Artificial Intelligence
G42 Collaborates with NVIDIA to Deliver Next-Generation Climate Solutions Using Earth-2
ABU DHABI, UAE, Sept. 20, 2024 /PRNewswire/ — G42, a leader in AI and cloud computing, today announced that it is partnering with NVIDIA to advance climate technology with a focus on developing AI solutions aimed at dramatically enhancing the accuracy of weather forecasting globally.
The collaboration builds on NVIDIA’s Earth-2, an open platform that accelerates climate and weather predictions with interactive, AI-augmented, high-resolution simulation. G42 and NVIDIA will initially focus on a square-kilometer resolution weather forecasting model that improves the accuracy of meteorological predictions.
Key to this initiative is the establishment of a new operational base and Climate Tech Lab in Abu Dhabi. This state-of-the-art facility will serve as a hub for research and development, driving forward both companies’ commitment to environmental sustainability. This facility will also mobilize the creation of tailored climate and weather solutions that leverage over 100 petabytes of geophysical data assets.
Peng Xiao, Group CEO of G42, said, “This initiative with NVIDIA is a testament to our commitment to applying AI in ways that not only innovate but also solve critical global challenges. Establishing the Earth-2 Climate Tech Lab in Abu Dhabi allows us to leverage our unique capabilities and insights to foster a sustainable future for the world.”
In addition to fostering innovation in climate technology, the initiative will focus on building a robust framework for integrating enhanced weather prediction capabilities with comprehensive data metrics and visualization. This will assist organizations worldwide in achieving their sustainability goals through well-informed, data-driven environmental strategies.
“Our collaboration with G42 marks a pivotal step toward harnessing AI to understand and predict climate phenomena with unprecedented accuracy,” said Jensen Huang, founder and CEO of NVIDIA. “The Earth-2 Climate Tech Lab will propel environmental solutions using the most advanced accelerated computing and AI technology to benefit millions of people around the world.”
By uniting G42’s AI expertise with NVIDIA’s computational acumen, this partnership aims to deliver transformative climate solutions that combine scientific accuracy with real-world applicability, driving impactful change across industries and ecosystems.
About G42
G42 is a technology holding group, a global leader in creating visionary artificial intelligence for a better tomorrow. Born in Abu Dhabi and operating worldwide, G42 champions AI as a powerful force for good across industries. From molecular biology to space exploration and everything in between, G42 realizes exponential possibilities, today. To know more visit www.g42.ai.
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