Zooms in or out in the perspective view by changing the camera field of view. Zoom operates like changing the lens on a camera. A value smaller than the default is like using a telephoto lens, whereas a value larger than the default provides a wide angle lens effect.
Access this tool from the View palette:

Zoom Options
You can use these sliders to define a view by positioning the camera. The eye position, view point position, and up vector end point determine the view. These nine fields contain decimal numbers. They represent, from left to right, the X, Y, and Z Coordinates for each of the three camera parameters. To see the camera as you modify it, use Display > Toggles > Cameras.
This slider also takes a decimal number which defines the angle of the field of view of the camera. Values must be positive in the range of 0.2 to 179.
Zoom Workflow
To zoom in, click and drag the
.
To zoom out, click and drag the
.
To increase or decrease the angle of view, click the
. Dragging up or to the right increases it, and dragging down or to the left decreases it.
You can type the angle of view from the keyboard when the system prompts:
Enter angle of view (ABS):
The values are between 0.2 and 179. Type the angle (preceded by the letter r if you want a relative angle) and press
.