Zscaler deep dive: can the security incumbent own the market for securing AI agents?

thedealdirector · x · 2026-09-24

Infra Play #147 analyzes whether Zscaler benefits from the wave of CISOs buying platforms to monitor or secure AI agents over the next twelve months. The verdict: Zscaler has valuable distribution, switching costs, trust, and recurring revenue, but a crowded category and decelerating growth. The positive signal would be customers standardizing on it as the default control plane for user, workload, branch, cloud, data, and agent access; the negative is AI Protect remaining a small bundle module while legacy access carries the numbers, leaving it exposed to Palo Alto, Netskope, Cato, and Cisco.

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