Security Assurance Market Size Projected to Reach USD 6.74 Billion at CAGR of 9.1%, By 2027
The increased interest in cloud-based service drives the growth of the market
Market Size – USD 4.53 Billion in 2020, Market Growth – CAGR of 9.1%, Market Trends – growing knowledge of security assurance in cloud
The Security Assurance Market is expected to grow from USD 4.53 Billion in 2020 to USD 6.74 Billion by 2027, at CAGR of 9.1% during the forecast period. The growth factor being the adoption of cloud-based service.
Security assurance is an advanced technique to implement and manage IT security risks and threats. It is the set of technologies that ensure that software is being designed to operate at a level of security that can deal with the harm that could be faced from the loss, inaccuracy, alteration, unavailability or misuse of the data and resources that it uses. Security assurance services help businesses to detect, analyze, and manage the security risks associated with mobile devices, business applications, and related technology environments.
Players will require increased investments to tackle these challenges and facilitate growth in the coming years. This report comprises drivers, restraints, opportunities, and challenges pertaining to the Security Assurance Market; and extensive value chain analysis, patent analysis, analysis of the current manufacturing capability and technology status, commercialization potential in different devices, along with market size forecasts till 2026.
The major Key players in the security assurance market are Avaya (US), Micro Focus (UK), IBM (US), NETSCOUT (US), Infosys (India), Accenture (Ireland), Microsoft (US), SAS (US), Sogeti (France), Aura (New Zealand) among others.
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Further key findings from the report suggest
- Growth of Security Assurance Market is done by the increasing knowledge about security assurance in the cloud. The security assurance market is expected to grow from USD 4.53 Billion in 2020 to USD 6.74 Billion by 2026 at CAGR of 9.1% during the forecast period
- Based on application type, the market is segmented as a business application, system, and network infrastructure, mobility solutions. The high rise in the number of mobile devices across the world is considered to be the steering factors for the growth of this market. Due to the increasing demand and use of mobile devices and connectivity, networks are more susceptible to cyber-attacks. This has further accelerated the growth of the mobility solutions segment.
- Based on Business, the market is segmented as large enterprises, small and medium-sized enterprises. Security assurance helps businesses to identify, analyze, and manage the security risks associated with business applications, mobile devices, and related technology environments.
- Based on End-user, the market is segmented into BFSI, Telecommunications, Government, Healthcare & Retail, Others. The sector of BFSI is actively upgrading its processes and transaction technologies, which results in the need for active end-to-end security solutions to secure operations against both, internal and external threats, in association with unauthorized accesses.
- Based on region, the market is being segmented to Europe, APAC, North America, and Row. APAC is estimated to bring the highest CAGR of 10.3% during the forecast period. The IT security threats demand, and emergence in the adoption of security assurance services within SMEs are the reasons for driving the security assurance market growth in this region.
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For this report, the market has been segmented on the basis of organization size, Application, industry, and region:
Business (Revenue, USD Million; 2017–2027)
- Large enterprises
- Small and medium-sized enterprise
Application type (Revenue, USD Million; 2017–2027)
- Business application
- System and network infrastructure
- Mobility solutions
End-user (Revenue, USD Million; 2017–2027)
- Retail and manufacturing
Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- Asia Pacific
- Rest of the World
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Finally, all aspects of the Security Assurance market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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