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Security Assurance Market by Application, Organization Size, Industry Verticals And Region - Global Forecast to 2023

Security Assurance Market: Global Forecast until 2023

  • October 2018
  • 112 pages
  • ID: 5586656
In this report:
The total market size of the large enterprises segment is estimated to be USD ##.## million in 2018 and projected to reach USD ##.## million by 2023, at a CAGR of ##.##% during the forecast period.
The global security assurance market is expected to grow from USD ##.## billion in 2018 to USD ##.## billion by 2023, at a CAGR of ##.##% during the forecast period.

Summary

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The growing use of Internet of Things -based devices, resulting in upshifting the amount of digital data, is predicted to push the rise of the security assurance market

The overall security assurance market size is forecasted to grow from ~$3.5B in 2018 to ~$5.5B by 2023, at a Compound Annual Increase rate of 9.20 percent during the forecast period. Security assurance is a modern approach to assess and manage IT security risks and vulnerabilities proactively. Security assurance services empower companies to timely detect, assess, and manage the security risks combined with mobile devices, business applications, and related technology environments. Nevertheless, difficulty in providing hybrid cloud security is one of the main restraining factors faced by the security assurance vendors presently.

Among applications, the mobility solutions segment is intended to account for the larger market share during the estimate period

The mobility solutions segment is forecasted to account for the larger market share by 2023. Fast growth in the number of mobile devices across the world is one of the driving factors for the increase of this market.

By vertical, the Banking, Financial Services, and Insurance vertical is anticipated to account for the largest part of market share during the outlook period

The BFSI vertical is anticipated to account for the biggest market share during the estimate period.The BFSI vertical is continuously upgrading its processes and transaction technologies, and therefore requires agile end-to-end security solutions to secure operations against both, internal and external threats, succeeded by unauthorized accesses.

This has resulted in BFSI accounting for a prominent share in the security assurance market.

• By area, Asia Pacific (APAC) is anticipated to rise at the highest CAGR (Compound annual growth rate) during the outlook period

Asia-Pacific is anticipated to grow at the highest compound annual growth rate (CAGR) during the estimate period.The need to mitigate IT security threats and increase in the adoption of security assurance services among SMEs are factors driving the security assurance market rise in this area.

MEA and Latin America area are forecasted to witness steady increase during the outlook period.

Comprehensive interviews were managed with Chief Executive Officers, marketing directors, innovative products and technology directors, and executives from numerous main institutions operating in the security assurance market.

The breakup of the profiles of the primary participants is presented below:

• By Organization: Tier 1 - 26.0 percent, Tier 2 - 36.0 percent, and Tier 3 - 38.0 percent

• By Description: C-suite - 44.0 percent, D-level - 50.0 percent, and Others - 6.0 percent

• By Area: North America continent - 35.0 percent, Europe (EU) - 29.0 percent, Asia-Pac - 30.0 percent, and rest of the world - 6.0 percent

Segment Research

The security assurance market has been divided on the basis of application, organization size, market vertical, and area. An in-depth study of the main industry actors has been undertaken to provide business insights into their business overviews; services; top strategies; new service launches; alliances, strategic agreements, and collaborations; business developments; and opposing landscape combined with the overall security assurance market.

Reasons to Buy the Report

The market research would benefit the market top players/new sector entrants in these ways:

• It comprehensively segments the security assurance market and offers the best approximations of the revenue data for the global market and its sub-segments across different areas.

• It would benefit partners distinguish the pulse of the sector and offer info on the main market drivers, market restraints, opportunities, and alternatives.

• It would benefit partners comprehend their players better and acquire additional insights to improve their positions in the sector. The competitive outlook section includes competitor landscape, new service developments, alliances, and acquisitions.

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