Global Security Assurance Market Analysis: Trends, Challenges, and Opportunities 2031

According to the report published by Allied Market Research, the global security assurance market generated $5.7 billion in 2021, and is estimated to reach $14.8 billion by 2031, witnessing a CAGR of 10.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.

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.

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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.

Based on 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 because 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.

The report offers a detailed segmentation of the global security assurance market based on type, enterprise size, industry vertical, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

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Based on type, the system and network infrastructure segment held the largest share in 2021, contributing to around three-fifths of the global security assurance market share, and is likely to maintain its leadership status during the forecast period. However, the mobility solutions segment is expected to manifest the highest CAGR of 12.2% from 2022 to 2031. The report also includes other segments such as business applications.

In terms of enterprise size, the large enterprises segment held the largest share in 2021, accounting for more than two-thirds of the global security assurance market share, and would rule the roost through 2031. However, the SMEs segment is estimated to witness the fastest CAGR of 12.0% during the forecast period.

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 by 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 element which are make contributes to the growth of security assurance in North America are rise in the utilization of mobile devices.

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Leading players of the global security assurance market analyzed in the research include Aura Information Security, Avaya, Inc., BizCarta Technologies India Pvt Ltd, CIPHER Security LLC., Capgemini SE, Happiest Minds Technologies, International Business Machine Corporation, Infosys Ltd., Microsoft Corporation, Micro Focus International plc, NetScout Systems, Inc., Radix Technologies Ltd., SAS Institute, Spirent Communications plc, Tenable, Inc., and Telos Corporation.

The report analyzes these key players of the global security assurance market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, product portfolio, and developments by every market player.

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