Market Trends of Zero Trust Security Industry
Small and Medium Enterprises to Witness Major Growth
- SMEs play a central role in the economic landscape, helping to strengthen financial inclusion and supplying goods and services to poor and underserved markets. These enterprises are critical drivers of innovation and offer high growth potential. For instance, according to the European Commission, approximately 24.4 million small and medium-sized enterprises (SMEs) were estimated to be in the European Union in 2023, as SMEs form the backbone of the European economy.
- Even following a hybrid model, most small businesses have yet to prepare for flexibility within future work environments and employee policies. Growth in working from home, hybrid modalities, and family-focused employee structures aid quick transition to more secure strategies. To ensure sustainability, MSMEs should identify market opportunities and consumer demands.
- The cloud-based environment ensures long-term sustainability and resilience, driving the demand for various cybersecurity strategies for SMEs. A robust and secure work environment is guaranteed with zero-trust security, and an attempt to access an organization's network architecture can only succeed once trust is validated. When a user accesses an application, the user and device are confirmed, and trust is continuously monitored. This helps secure the organization's applications and environments from any user, device, and location, which is vital for SME's future growth.
- Many established and emerging cybersecurity players offer zero-trust network access (ZTNA) services for small and medium enterprises to cater to the rising demands. The cloud-delivered service extends the company's zero-trust solutions to cloud-native businesses and enterprises, embracing cloud adoption and giving SMEs improved productivity, better security, greater visibility, and a significantly reduced attack surface.
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Asia Pacific Expected to Register Significant Growth
- Asia’s technological abilities have increased over the past decade, with many businesses concentrating on the digital shift as one of their key goals throughout the pandemic. While the revolutions of digital transformation were set in motion much earlier, the pandemic accelerated their speed. It particularly impacted how organizations approach their IT ecosystem and security.
- Asia-Pacific is anticipated to dominate the global manufacturing industry, recording the highest inter-annual growth rate, especially in China. This country has achieved significant growth in its production rates compared to its pre-pandemic pace.
- China keeps prioritizing digitalization and improving its cybersecurity posture. ZAT solutions safeguard its digital operations and help comply with regulatory standards. Chinese businesses are increasingly realizing the value of ZAT solutions, making the Chinese market a key driver of adoption in the Asia-Pacific region.
- In August 2023, Singtel, Asia’s leading telecommunications technology group, announced a strategic partnership to offer Zscaler’s security solutions in Asia, a first for the region. Through this partnership, Singtel’s MSSE offers businesses impacted by insufficient in-house resources or skill sets an all-in-one digital security solution that helps to protect their digital assets against cyber threats.
- Enterprises in the APAC region will now have seamless access to Zscaler’s Zero Trust Exchange, a cloud-based platform, through Singtel’s Managed Security Service Edge (MSSE) suite of services, which includes pre-sales to post-sales support from dedicated cybersecurity experts as well as resources such as build implementation, platform consultation, maintenance, and round-the-clock threat mitigation. As the rate of enterprise digitalization continues to accelerate at an unprecedented pace, so does the risk of cyber threats.
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