24-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Security Assurance Market By Application (Business Applications, System & Network Infrastructure, and Mobility Solutions) by Organization Size (Large-Sized Enterprises and Small and Medium-Sized Enterprises) for Industry Verticals (BFSI, Telecommunications, Government, Healthcare, Retail, Manufacturing, and Others) -Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026’’ States that the global security assurance market in 2019 was approximately USD 4.15 billion. The market is expected to grow at a CAGR of 8.93% and is anticipated to reach around USD 7.04 billion by 2026.
Security assurance has developed progressively important in an era where information is known as an important asset by many enterprises. Commercial and government institutions depend heavily on the use of information to conduct their business actions. The need to protect data is principally important in today’s environment since many enterprises are externally and internally connected by IT network systems. Henceforth, security assurance techniques play a vital role in managing IT threats and risks.
Browse the full “Security Assurance Market By Application (Business Applications, System & Network Infrastructure, and Mobility Solutions) by Organization Size (Large-Sized Enterprises and Small and Medium-Sized Enterprises) for Industry Verticals (BFSI, Telecommunications, Government, Healthcare, Retail, Manufacturing, and Others) -Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026" https://www.fnfresearch.com/security-assurance-market-by-application-business-applications-system-920
The rise in the frequency and complexity of cyber risks is one of the major factors expected to drive the growth of the global security assurance market over the estimated years. In addition, the growing adoption of cloud-based services is also estimated to drive the market in the near future. On the contrary, efforts in offering hybrid cloud security are considered to be a major restrain which can hinder the growth of the global security assurance market over the projected period. Nonetheless, the rising need for cloud-based security solutions among small and medium-sized enterprises is expected to open new opportunities over the estimated time.
On the basis of application, the global security assurance market is fragmented into mobility solutions, business applications, and systems and network infrastructure. By organization size, the market is segregated into large-sized enterprises and small and medium-sized enterprises. Small and medium-sized enterprises are highly adopting security assurance services as they are vulnerable to cyber threats and risks. With the implementation of security assurance solutions enterprises effectively secures serious information from data breaches and counter cyber events more efficiently. On the basis of industry verticals, the market is classified into BFSI, healthcare, government, manufacturing, retail, telecommunications, and others. Security assurance solutions are highly adopted in the BFSI vertical owing to continuous development in security products and services which enables to protect of the industry customers, employees, offices, assets, operations, and branches.
North America dominated the global security assurance market in 2019 and is expected to continue its dominance in the near future, owing to the presence of major IT vendors including Oracle, IBM, Microsoft, and others which provide reliable software solutions to enterprises across all the verticals. Europe is expected to witness remarkable growth in the market over the estimated period, owing to the high adoption of security assurance solutions in the healthcare sector. The Asia Pacific is estimated to be the fastest-growing region over the estimated years, owing to the rising adoption of mobile devices along with IoT solutions in SMEs.
Some of the noticeable players involved in the global security assurance market are Accenture, Signature Consulting Group, Avaya, Aura, BizCarta, IBM, Infosys, Micro Focus, Telos, Microsoft, OpenText, NETSCOUT, SAS, Sogeti, Cipher, CRITICAL Software, Content Security, Radix Security, Spirent, Happiest Minds, Oracle, Tenable, and Wipro amongst others.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 4.15 billion |
Projected Market Size in 2026 |
USD 7.04 billion |
CAGR Growth Rate |
8.93% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Accenture, Signature Consulting Group, Avaya, Aura, BizCarta, IBM, Infosys, Micro Focus, Telos, Microsoft, OpenText, NETSCOUT, SAS, Sogeti, Cipher, CRITICAL Software, Content Security, Radix Security, Spirent, Happiest Minds, Oracle, Tenable, and Wipro among others. |
Key Segment |
By Application, By Organization Size, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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This report segment of the global security assurance market as follows:
Global Security Assurance Market: Application Segment Analysis
- Business Applications
- System & Network Infrastructure
- Mobility Solutions
Global Security Assurance Market: Organization Size Segment Analysis
- Large Sized Enterprises
- Small and Medium-Sized Enterprises
Global Security Assurance Market: Industry Verticals Segment Analysis
- BFSI
- Telecommunications
- Government
- Healthcare
- Retail
- Manufacturing
- Others
Global Security Assurance Market: Regional Segment Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
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