Security assurance is the guarantee provided with regard to access control, security privileges, and enforcement over time as users interact with an application. For a big-data application that shares and exchanges information from multiple sources in different formats, security assurance must reconcile local security capabilities to meet stakeholder needs. Developers and implementers can increase the assurance in security controls by employing well-defined security policy models, structured, disciplined, and rigorous hardware and software development techniques, and sound system/security engineering principles.
Assurance is also based on the assessment of evidence produced during the initiation, acquisition/development, implementation, and operations/maintenance phases of the SDLC. For example, developmental evidence may include the techniques and methods used to design and develop security functionality. Operational evidence may include flaw reporting and remediation, the results of security incident reporting, and the results of ongoing monitoring of security controls.
The security assurance market has experienced an increase in demand over the last few years. Businesses are actively using security assurance services to reduce the risks as a result of the increased difficulties in controlling vulnerabilities brought on by the usage of cloud-based technologies and the rise in hacking attempts. Security assurance is a modern approach to assess and manage IT security risks and vulnerabilities proactively. Global Security assurance services authorize enterprises to timely detect, assess, and achieve the security risks connected with mobile devices, business applications, and related technology environments.
But, difficulty in providing hybrid cloud security is one of the main restraining factors faced by the global security assurance vendors currently. The security assurance market is segmented on the basis of application, enterprise size, industry vertical, and region. By application, it is segmented into business applications, system and network infrastructure, and mobility solutions. By enterprise size, it is categorized into SMEs and large enterprises. By industry vertical, it is categorized into BFSI, IT & telecom, government, healthcare, retail, manufacturing, and others.
By manufacturing, it has been further subdivided into food and beverages, industrial machinery and heavy equipment, high tech and consumer electronics, automotive, and others. By high tech and consumer electronics, it is classified into consumer electronics, PCs & Laptops, and others. By others, it is categorized into energy and utilities, transportation, and social media. By energy and utilities, it is classified into oil and gas, renewable energy & utilities, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
The key players operating in the market include Accenture, Aura Information Security, Avaya, Inc., BizCarta India, CIPHER Security LLC., Capgemini, Happiest Minds, International Business Machine (IBM), Infosys Ltd., Microsoft Corporation, Micro Focus, NETSCOUT, Radix Technologies, SAS Institute, Spirent Communications, Tenable, Inc., and Telos Corporation.
Assurance is also based on the assessment of evidence produced during the initiation, acquisition/development, implementation, and operations/maintenance phases of the SDLC. For example, developmental evidence may include the techniques and methods used to design and develop security functionality. Operational evidence may include flaw reporting and remediation, the results of security incident reporting, and the results of ongoing monitoring of security controls.
The security assurance market has experienced an increase in demand over the last few years. Businesses are actively using security assurance services to reduce the risks as a result of the increased difficulties in controlling vulnerabilities brought on by the usage of cloud-based technologies and the rise in hacking attempts. Security assurance is a modern approach to assess and manage IT security risks and vulnerabilities proactively. Global Security assurance services authorize enterprises to timely detect, assess, and achieve the security risks connected with mobile devices, business applications, and related technology environments.
But, difficulty in providing hybrid cloud security is one of the main restraining factors faced by the global security assurance vendors currently. The security assurance market is segmented on the basis of application, enterprise size, industry vertical, and region. By application, it is segmented into business applications, system and network infrastructure, and mobility solutions. By enterprise size, it is categorized into SMEs and large enterprises. By industry vertical, it is categorized into BFSI, IT & telecom, government, healthcare, retail, manufacturing, and others.
By manufacturing, it has been further subdivided into food and beverages, industrial machinery and heavy equipment, high tech and consumer electronics, automotive, and others. By high tech and consumer electronics, it is classified into consumer electronics, PCs & Laptops, and others. By others, it is categorized into energy and utilities, transportation, and social media. By energy and utilities, it is classified into oil and gas, renewable energy & utilities, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
The key players operating in the market include Accenture, Aura Information Security, Avaya, Inc., BizCarta India, CIPHER Security LLC., Capgemini, Happiest Minds, International Business Machine (IBM), Infosys Ltd., Microsoft Corporation, Micro Focus, NETSCOUT, Radix Technologies, SAS Institute, Spirent Communications, Tenable, Inc., and Telos Corporation.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the security assurance market analysis from 2021 to 2031 to identify the prevailing security assurance market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the security assurance market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global security assurance market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Business Applications
- System and Network Infrastructure
- Mobility Solutions
By Enterprise Size
- Large Enterprises
- SMEs
By Industry Vertical
- BFSI
- IT and Telecom
- Government
- Healthcare
- Retail
- Manufacturing
- Manufacturing Type
- Food and Beverages
- Industrial Machinery and Heavy Equipment
- High Tech and Consumer Electronics
- Automotive
- Others
- Others
- Others Type
- Energy and Utilities
- Transportation
- Social Media
By Region
- North America
- U. S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- Australia
- India
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Avaya Inc.
- Spirent Communications
- Radix Security Inc.
- Tenable Inc.
- Telos Corporation
- Happiest Minds
- CIPHER Security LLC
- BizCarta Technologies India Pvt Ltd
- Aura Information Security
- IBM CORPORATION
- Accenture
- Infosys
- Microsoft Corporation
- capgemini
- SAS
- Micro Focus
- NETSCOUT
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Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: SECURITY ASSURANCE MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Business Applications
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 System and Network Infrastructure
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Mobility Solutions
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
CHAPTER 5: SECURITY ASSURANCE MARKET, BY ENTERPRISE SIZE
5.1 Overview
5.1.1 Market size and forecast
5.2 Large Enterprises
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 SMEs
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
CHAPTER 6: SECURITY ASSURANCE MARKET, BY INDUSTRY VERTICAL
6.1 Overview
6.1.1 Market size and forecast
6.2 BFSI
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 IT and Telecom
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
6.4 Government
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market analysis by country
6.5 Healthcare
6.5.1 Key market trends, growth factors and opportunities
6.5.2 Market size and forecast, by region
6.5.3 Market analysis by country
6.6 Retail
6.6.1 Key market trends, growth factors and opportunities
6.6.2 Market size and forecast, by region
6.6.3 Market analysis by country
6.7 Manufacturing
6.7.1 Key market trends, growth factors and opportunities
6.7.2 Market size and forecast, by region
6.7.3 Market analysis by country
6.7.4 Manufacturing Security Assurance Market by Manufacturing Type
6.7.4.1 Food and Beverages Market size and forecast, by region
6.7.4.2 Food and Beverages Market size and forecast, by country
6.7.4.3 Industrial Machinery and Heavy Equipment Market size and forecast, by region
6.7.4.4 Industrial Machinery and Heavy Equipment Market size and forecast, by country
6.7.4.5 High Tech and Consumer Electronics Market size and forecast, by region
6.7.4.6 High Tech and Consumer Electronics Market size and forecast, by country
6.7.4.7 Automotive Market size and forecast, by region
6.7.4.8 Automotive Market size and forecast, by country
6.7.4.9 Others Market size and forecast, by region
6.7.4.10 Others Market size and forecast, by country
6.8 Others
6.8.1 Key market trends, growth factors and opportunities
6.8.2 Market size and forecast, by region
6.8.3 Market analysis by country
6.8.4 Others Security Assurance Market by Others Type
6.8.4.1 Energy and Utilities Market size and forecast, by region
6.8.4.2 Energy and Utilities Market size and forecast, by country
6.8.4.3 Transportation Market size and forecast, by region
6.8.4.4 Transportation Market size and forecast, by country
6.8.4.5 Social Media Market size and forecast, by region
6.8.4.6 Social Media Market size and forecast, by country
CHAPTER 7: SECURITY ASSURANCE MARKET, BY REGION
7.1 Overview
7.1.1 Market size and forecast
7.2 North America
7.2.1 Key trends and opportunities
7.2.2 North America Market size and forecast, by Type
7.2.3 North America Market size and forecast, by Enterprise Size
7.2.4 North America Market size and forecast, by Industry Vertical
7.2.4.1 North America Manufacturing Security Assurance Market by Manufacturing Type
7.2.4.2 North America Others Security Assurance Market by Others Type
7.2.5 North America Market size and forecast, by country
7.2.5.1 U. S.
7.2.5.1.1 Market size and forecast, by Type
7.2.5.1.2 Market size and forecast, by Enterprise Size
7.2.5.1.3 Market size and forecast, by Industry Vertical
7.2.5.1.3.1 U. S. Manufacturing Security Assurance Market by Manufacturing Type
7.2.5.1.3.2 U. S. Others Security Assurance Market by Others Type
7.2.5.2 Canada
7.2.5.2.1 Market size and forecast, by Type
7.2.5.2.2 Market size and forecast, by Enterprise Size
7.2.5.2.3 Market size and forecast, by Industry Vertical
7.2.5.2.3.1 Canada Manufacturing Security Assurance Market by Manufacturing Type
7.2.5.2.3.2 Canada Others Security Assurance Market by Others Type
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Type
7.3.3 Europe Market size and forecast, by Enterprise Size
7.3.4 Europe Market size and forecast, by Industry Vertical
7.3.4.1 Europe Manufacturing Security Assurance Market by Manufacturing Type
7.3.4.2 Europe Others Security Assurance Market by Others Type
7.3.5 Europe Market size and forecast, by country
7.3.5.1 UK
7.3.5.1.1 Market size and forecast, by Type
7.3.5.1.2 Market size and forecast, by Enterprise Size
7.3.5.1.3 Market size and forecast, by Industry Vertical
7.3.5.1.3.1 UK Manufacturing Security Assurance Market by Manufacturing Type
7.3.5.1.3.2 UK Others Security Assurance Market by Others Type
7.3.5.2 Germany
7.3.5.2.1 Market size and forecast, by Type
7.3.5.2.2 Market size and forecast, by Enterprise Size
7.3.5.2.3 Market size and forecast, by Industry Vertical
7.3.5.2.3.1 Germany Manufacturing Security Assurance Market by Manufacturing Type
7.3.5.2.3.2 Germany Others Security Assurance Market by Others Type
7.3.5.3 France
7.3.5.3.1 Market size and forecast, by Type
7.3.5.3.2 Market size and forecast, by Enterprise Size
7.3.5.3.3 Market size and forecast, by Industry Vertical
7.3.5.3.3.1 France Manufacturing Security Assurance Market by Manufacturing Type
7.3.5.3.3.2 France Others Security Assurance Market by Others Type
7.3.5.4 Italy
7.3.5.4.1 Market size and forecast, by Type
7.3.5.4.2 Market size and forecast, by Enterprise Size
7.3.5.4.3 Market size and forecast, by Industry Vertical
7.3.5.4.3.1 Italy Manufacturing Security Assurance Market by Manufacturing Type
7.3.5.4.3.2 Italy Others Security Assurance Market by Others Type
7.3.5.5 Spain
7.3.5.5.1 Market size and forecast, by Type
7.3.5.5.2 Market size and forecast, by Enterprise Size
7.3.5.5.3 Market size and forecast, by Industry Vertical
7.3.5.5.3.1 Spain Manufacturing Security Assurance Market by Manufacturing Type
7.3.5.5.3.2 Spain Others Security Assurance Market by Others Type
7.3.5.6 Netherlands
7.3.5.6.1 Market size and forecast, by Type
7.3.5.6.2 Market size and forecast, by Enterprise Size
7.3.5.6.3 Market size and forecast, by Industry Vertical
7.3.5.6.3.1 Netherlands Manufacturing Security Assurance Market by Manufacturing Type
7.3.5.6.3.2 Netherlands Others Security Assurance Market by Others Type
7.3.5.7 Rest of Europe
7.3.5.7.1 Market size and forecast, by Type
7.3.5.7.2 Market size and forecast, by Enterprise Size
7.3.5.7.3 Market size and forecast, by Industry Vertical
7.3.5.7.3.1 Rest of Europe Manufacturing Security Assurance Market by Manufacturing Type
7.3.5.7.3.2 Rest of Europe Others Security Assurance Market by Others Type
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Type
7.4.3 Asia-Pacific Market size and forecast, by Enterprise Size
7.4.4 Asia-Pacific Market size and forecast, by Industry Vertical
7.4.4.1 Asia-Pacific Manufacturing Security Assurance Market by Manufacturing Type
7.4.4.2 Asia-Pacific Others Security Assurance Market by Others Type
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 China
7.4.5.1.1 Market size and forecast, by Type
7.4.5.1.2 Market size and forecast, by Enterprise Size
7.4.5.1.3 Market size and forecast, by Industry Vertical
7.4.5.1.3.1 China Manufacturing Security Assurance Market by Manufacturing Type
7.4.5.1.3.2 China Others Security Assurance Market by Others Type
7.4.5.2 Japan
7.4.5.2.1 Market size and forecast, by Type
7.4.5.2.2 Market size and forecast, by Enterprise Size
7.4.5.2.3 Market size and forecast, by Industry Vertical
7.4.5.2.3.1 Japan Manufacturing Security Assurance Market by Manufacturing Type
7.4.5.2.3.2 Japan Others Security Assurance Market by Others Type
7.4.5.3 South Korea
7.4.5.3.1 Market size and forecast, by Type
7.4.5.3.2 Market size and forecast, by Enterprise Size
7.4.5.3.3 Market size and forecast, by Industry Vertical
7.4.5.3.3.1 South Korea Manufacturing Security Assurance Market by Manufacturing Type
7.4.5.3.3.2 South Korea Others Security Assurance Market by Others Type
7.4.5.4 Australia
7.4.5.4.1 Market size and forecast, by Type
7.4.5.4.2 Market size and forecast, by Enterprise Size
7.4.5.4.3 Market size and forecast, by Industry Vertical
7.4.5.4.3.1 Australia Manufacturing Security Assurance Market by Manufacturing Type
7.4.5.4.3.2 Australia Others Security Assurance Market by Others Type
7.4.5.5 India
7.4.5.5.1 Market size and forecast, by Type
7.4.5.5.2 Market size and forecast, by Enterprise Size
7.4.5.5.3 Market size and forecast, by Industry Vertical
7.4.5.5.3.1 India Manufacturing Security Assurance Market by Manufacturing Type
7.4.5.5.3.2 India Others Security Assurance Market by Others Type
7.4.5.6 Rest of Asia-Pacific
7.4.5.6.1 Market size and forecast, by Type
7.4.5.6.2 Market size and forecast, by Enterprise Size
7.4.5.6.3 Market size and forecast, by Industry Vertical
7.4.5.6.3.1 Rest of Asia-Pacific Manufacturing Security Assurance Market by Manufacturing Type
7.4.5.6.3.2 Rest of Asia-Pacific Others Security Assurance Market by Others Type
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Type
7.5.3 LAMEA Market size and forecast, by Enterprise Size
7.5.4 LAMEA Market size and forecast, by Industry Vertical
7.5.4.1 LAMEA Manufacturing Security Assurance Market by Manufacturing Type
7.5.4.2 LAMEA Others Security Assurance Market by Others Type
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Latin America
7.5.5.1.1 Market size and forecast, by Type
7.5.5.1.2 Market size and forecast, by Enterprise Size
7.5.5.1.3 Market size and forecast, by Industry Vertical
7.5.5.1.3.1 Latin America Manufacturing Security Assurance Market by Manufacturing Type
7.5.5.1.3.2 Latin America Others Security Assurance Market by Others Type
7.5.5.2 Middle East
7.5.5.2.1 Market size and forecast, by Type
7.5.5.2.2 Market size and forecast, by Enterprise Size
7.5.5.2.3 Market size and forecast, by Industry Vertical
7.5.5.2.3.1 Middle East Manufacturing Security Assurance Market by Manufacturing Type
7.5.5.2.3.2 Middle East Others Security Assurance Market by Others Type
7.5.5.3 Africa
7.5.5.3.1 Market size and forecast, by Type
7.5.5.3.2 Market size and forecast, by Enterprise Size
7.5.5.3.3 Market size and forecast, by Industry Vertical
7.5.5.3.3.1 Africa Manufacturing Security Assurance Market by Manufacturing Type
7.5.5.3.3.2 Africa Others Security Assurance Market by Others Type
CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments
CHAPTER 9: COMPANY PROFILES
9.1 Avaya Inc.
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 Spirent Communications
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 Radix Security Inc.
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 Tenable Inc.
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 Telos Corporation
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 Happiest Minds
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 CIPHER Security LLC
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 BizCarta Technologies India Pvt Ltd
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 Aura Information Security
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 IBM CORPORATION
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments
9.11 Accenture
9.11.1 Company overview
9.11.2 Company snapshot
9.11.3 Operating business segments
9.11.4 Product portfolio
9.11.5 Business performance
9.11.6 Key strategic moves and developments
9.12 Infosys
9.12.1 Company overview
9.12.2 Company snapshot
9.12.3 Operating business segments
9.12.4 Product portfolio
9.12.5 Business performance
9.12.6 Key strategic moves and developments
9.13 Microsoft Corporation
9.13.1 Company overview
9.13.2 Company snapshot
9.13.3 Operating business segments
9.13.4 Product portfolio
9.13.5 Business performance
9.13.6 Key strategic moves and developments
9.14 capgemini
9.14.1 Company overview
9.14.2 Company snapshot
9.14.3 Operating business segments
9.14.4 Product portfolio
9.14.5 Business performance
9.14.6 Key strategic moves and developments
9.15 SAS
9.15.1 Company overview
9.15.2 Company snapshot
9.15.3 Operating business segments
9.15.4 Product portfolio
9.15.5 Business performance
9.15.6 Key strategic moves and developments
9.16 Micro Focus
9.16.1 Company overview
9.16.2 Company snapshot
9.16.3 Operating business segments
9.16.4 Product portfolio
9.16.5 Business performance
9.16.6 Key strategic moves and developments
9.17 NETSCOUT
9.17.1 Company overview
9.17.2 Company snapshot
9.17.3 Operating business segments
9.17.4 Product portfolio
9.17.5 Business performance
9.17.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Security Assurance Market,' the security assurance market size was valued at $5.7 billion in 2021, and is estimated to reach $14.8 billion by 2031, growing at a CAGR of 10.2% from 2022 to 2031.An advanced method for implementing and managing IT security risks and threats is security assurance. It is the collection of technologies that make sure software is created with a level of security that can withstand the harm that could result from the loss, inaccurate usage, tampering, disappearance, or misuse of the data and resources it relies on. Services for security assurance assist businesses in identifying, evaluating, and managing security threats related to mobile devices, enterprise applications, and related technological environments.
Furthermore, increase in concerns about cyberattacks and threat of phishing and malware growing among businesses is boosting the growth of the global security assurance market. In addition, IoT and BYOD is positively impacts growth of the security assurance market. However, lack of privacy and security is hampering the security assurance market growth. On the contrary, growth in the use of mobile platforms and applications is expected to offer remunerative opportunities for expansion during the security assurance market forecast.
On the basis of industry vertical, the BFSI segment dominated the security assurance market share in 2021, and is expected to maintain its dominance in the upcoming years. One of the key drivers fueling the boom of the security assurance market in this industry is the growing danger of cyberattacks, that's progressively eroding client confidence. Economic establishments need to additionally offer tight security and virtual privacy due to the fact that banks and different financial institutions are making use of mobile, cloud, and social technology to guarantee most efficient financial management. This boosts the growth of the security assurance solutions market for BFSI sector.
Depending on the region, North America dominated the security assurance market analysis in 2021. In North America region, businesses are investing in their emerging technologies in order to improve their work efficiency. Owing to rise in competition among cloud-based provider companies in North America, key players are supplying more protection for information through ensuring quick access and more outreach in their services to the clients, which drives the growth of the security assurance market in this region. In addition, the fundamental elements which are make contributions towards the growth of security assurance in North America are rise in utilization of mobile devices.
However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to growing economies such as India and China and cloud native countries like Japan.
The current estimation of 2031 is projected to be higher than pre-COVID-19 estimates. The COVID-19 outbreak has high impact on the growth of security assurance market, as increasing number of smartphone users, growing adoption of connected devices, and surging e-commerce sector provide lucrative opportunities for the growth of the security assurance market. However, lack of skill workforce availability across the world, halted, due to the economic slowdown and global lockdown. Subsequently, affecting the growth of hardware wallet market during the year 2020. COVID has caused crises in social, economic, and energy areas and medical life worldwide throughout 2020. This crisis had many direct and indirect effects on all areas of society. In the meantime, the digital and artificial intelligence industry can be used as a professional assistant to manage and control the outbreak of the virus. In post-pandemic circumstances, enterprises strived to minimize operational and running costs around all the business functions to recover the losses incurred in COVID times.
KEY FINDINGS OF THE STUDY
By type, the business applications segment dominated the security assurance industry in 2021. However, the mobility solutions segment is expected to exhibit significant growth during the forecast period.On the basis of end-user, the BFSI segment dominated the security assurance market in 2021.However, the manufacturing segment is expected to witness the highest growth rate during the forecast period.
Region-wise, the security assurance market was dominated by North America in 2021. However, Asia-Pacific is expected to witness significant growth in the coming years.
This report gives an in-depth profile of some key market players in the security assurance industry include Accenture, Aura Information Security, Avaya, Inc., BizCarta India, CIPHER Security LLC., Capgemini, Happiest Minds, International Business Machine (IBM), Infosys Ltd., Microsoft Corporation, Micro Focus, NETSCOUT, Radix Technologies, SAS Institute, Spirent Communications, Tenable, Inc., and Telos Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which propel growth of the security assurance market globally.
Companies Mentioned
- Avaya Inc.
- Spirent Communications
- Radix Security Inc.
- Tenable Inc.
- Telos Corporation
- Happiest Minds
- Cipher Security LLC
- Bizcarta Technologies India Pvt Ltd.
- Aura Information Security
- IBM Corporation
- Accenture
- Infosys
- Microsoft Corporation
- Capgemini
- Sas
- Micro Focus
- Netscout
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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