Zero trust security market size seems to be $20BN. It’s projected to grow to $61BN by 2027.
As of now Zscaler is the leader of the pack as they have first mover advantage in this evolving technology. Palo Alto Networks is also catching up fast and in fact their NRR/ARR are slightly better than Zscaler as per their latest earning report. Only problem with PANW is that bulk of their revenue comes from legacy firewall systems whereas Zscaler can move faster as they don’t need to carry that baggage being a pioneer of this technology. In this segment the dark horse is Cloudflare. Being a cloud reverse proxy service provider, Cloudflare can easily mimic and potentially surpass Zscaler offering in no time.
I am not aware of any Indian companies offering similar products in the cloud security segment. Big Indian enterprises use US vendors/leaders to satisfy their security needs.
For example, Indian traders may occasionally notice that service is not available in Zerodha due to blackouts in Cloudflare services.
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