$5.4 Billion Security Assurance Market - Global Forecast to 2023
DUBLIN, Oct 10, 2018 /PRNewswire/ --
The "Security Assurance Market by Application (Business Applications, System & Network Infrastructure, and Mobility Solutions), Organization Size, Industry Verticals (BFSI, Telecommunications, Government, Healthcare), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The security assurance market size to grow from USD 3.53 billion in 2018 to USD 5.48 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period.
Security assurance empowers enterprises to timely identify, evaluate, and manage the security risks associated with business applications, mobile devices, and related technology environments. The scope of the report encompasses business applications, which include secure code review, architecture design review, testing, Intrusion Prevention Service/Intrusion Detection Service (IPS/IDS), and other related applications; system and network infrastructure which includes databases, secure network perimeters, and virtualized cloud; and mobility solutions which include endpoint devices and Internet of Things (IoT) devices.
The objective of the report is to define, describe, and forecast the security assurance market size by application, by organization size, by industry vertical, and region. Among Applications, the mobility solutions segment is expected to grow at the highest CAGR and account for the largest market share in the market during the forecast period. Rapid growth in the number of mobile devices across the globe is one of the driving factors for the growth of this market. Networks are more vulnerable to cyber-attacks, due to the increasing number of mobile devices. Hence it has become essential to assess organizations' security.
The Banking, Financial Services, and Insurance (BFSI) industry vertical is estimated to account for the largest market size in 2018 and projected to grow at the highest CAGR during the forecast period. This industry vertical is continuously developing security products and services that could help protect the industry employees, customers, assets, offices, branches, and operations, and is thus expected to account for the largest share of the security assurance market. The healthcare industry vertical is expected to grow at the highest CAGR during the forecast period.
The geographic analysis of the security assurance market comprises 5 regions, namely, North America, APAC, Europe, MEA, and Latin America. North America is expected to account for the largest market size in the market during the forecast period, followed by Europe. North America has been extremely responsive towards adopting the latest technological advancements, such as artificial intelligence, cloud computing, and the IoT. Prevention of increasing security attacks and breaches act as a driving force for the growth of the market. The US and Canada are the major contributing countries in this region.
APAC is expected to grow at the highest CAGR during the forecast year. The need to mitigate IT security threats and the rise in the adoption of security assurance services among SMEs are the factors driving the security assurance market growth in this region. MEA and Latin America are expected to witness steady growth during the forecast period.
Stringent government regulations and compliance, and the growth in the deployment of third-party applications integrated with the core software are the major factors expected to drive the security assurance market. However, the lack of technical expertise to develop an agile and secure environment is expected to hinder the growth of the market, but for a limited period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Security Assurance Market
4.2 Market Share of Top 4 Industry Verticals and Regions, 2018
4.3 Market Investment Scenario
5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Stringent Government Regulations
5.1.1.2 Growing Deployment of Third-Party Applications Integrated With the Core Software
5.1.1.3 Rapid Adoption of Cloud-Based Services
5.1.2 Restraints
5.1.2.1 Difficulty in Providing Hybrid Cloud Security
5.1.3 Opportunities
5.1.3.1 Growing Adoption of IoT and Mobile Devices
5.1.3.1 Increase in the Adoption of Security Assurance in Cloud
5.1.4 Challenges
5.1.4.1 Limited Certified Security Experts
6 Security Assurance Market, By Application
6.1 Introduction
6.2 Business Applications
6.3 System and Network Infrastructure
6.4 Mobility Solutions
7 Market By Organization Size
7.1 Introduction
7.2 Large Enterprises
7.3 Small and Medium-Sized Enterprises
8 Security Assurance Market, By Industry Vertical
8.1 Introduction
8.2 Banking, Financial Services, and Insurance
8.3 Telecommunications
8.4 Government
8.5 Healthcare
8.6 Retail
8.7 Manufacturing
8.8 Others
9 Security Assurance Market, By Region
10 Competitive Landscape
10.1 Overview
10.1.1 Partnerships, Agreements, and Collaborations
10.1.2 New Product/Service Launches and Product Enhancements
10.1.3 Mergers and Acquisitions
11 Company Profiles
- Accenture
- Aura Information Security
- Avaya
- Bizcarta
- Cipher
- Content Security
- Critical Software
- Happiest Minds
- IBM
- Infosys
- Micro Focus
- Microsoft
- Netscout
- Opentext
- Oracle
- Radix Security
- SAS Institute
- Signature Consulting Group
- Sogeti
- Spirent Communications
- Telos Corporation
- Tenable
- Wipro
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