Zero trust security market seen reaching $126.02 billion by 2031

By AI, Created 11:26 AM UTC, June 02, 2026, /AGP/ – A new Allied Market Research report projects the global zero trust security market will grow from $23.61 billion in 2021 to $126.02 billion by 2031. The forecast points to rising demand from enterprises, especially in BFSI and North America, as cyber threats, remote work and cloud adoption keep driving spending.

Why it matters: - Zero trust security is moving from a niche cyber concept to a major market with broad enterprise adoption. - Allied Market Research projects the market will more than quintuple by 2031, signaling sustained demand for identity, access and threat-management tools. - The growth outlook matters for vendors, investors and buyers because cyber risk, remote operations and cloud use are pushing security budgets higher.

What happened: - Allied Market Research said the global zero trust security market was valued at $23.61 billion in 2021. - The firm estimates the market will reach $126.02 billion by 2031. - The forecast implies an 18.5% compound annual growth rate from 2022 to 2031. - The report was published June 2, 2026. - Allied Market Research offers a sample report and customization request for the study.

The details: - The solution segment dominated the market in 2021 and is expected to keep that lead. - Zero trust security solutions covered advanced persistent threat protection, cybersecurity risk management, compliance management, security operations, identity and access management and related tools. - The services segment is projected to grow the fastest during the forecast period. - SME adoption and rising security threats are key drivers for services growth. - Single-factor authentication led the authentication category in 2021. - Multi-factor authentication is expected to post the highest growth rate because users must provide two or more verification factors to access accounts, applications or VPNs. - The BFSI segment generated the highest revenue in 2021 and is expected to remain the largest vertical. - Financial firms are increasing use of mobile, cloud and social technologies while also facing tighter compliance and government regulation. - Online banking usage during COVID-19 also supported demand in BFSI. - North America led the market in 2021. - The region benefits from strong technical adoption, established zero trust network infrastructure and higher spending power. - The report also says competition among cloud service providers in North America is increasing security offerings and access speed. - Rising mobile and web usage, plus greater dependence on internet and social media, are additional growth drivers in the region. - Large enterprises generated the highest revenue in 2021. - Small and medium enterprises are expected to see significant growth over the forecast period. - Asia-Pacific is expected to grow significantly in the coming years. - The report profiles Cisco, Akamai, IBM, Zscaler, VMware, Microsoft, Cloudflare, Google, Cyxtera Technologies, SonicWall, Palo Alto Networks, Check Point Software Technologies, Trend Micro, Symantec, FireEye, McAfee and Forcepoint.

Between the lines: - The report ties market growth to both structural changes, such as cloud adoption and identity-based security, and cyclical shocks, such as the pandemic-era jump in cyberattacks. - Allied Market Research cited an ISSA and ESG survey from April 2020 showing cyberattacks related to the pandemic rose almost 63%. - That kind of threat environment helps explain why zero trust architecture is gaining traction across industries. - The report also frames recurring expense as a restraint, which could slow adoption for some buyers.

What’s next: - Services, multifactor authentication and SME adoption are the clearest near-term growth areas in the report. - North America is expected to stay a major market, while Asia-Pacific could become a faster-growing region. - Vendors are likely to keep expanding cloud security, AI-integrated tools and zero trust offerings as cyber risk remains elevated.

The bottom line: - Zero trust security is projected to stay one of cybersecurity’s fastest-growing categories as enterprises harden access controls and prepare for a more distributed threat environment.