Security Assessment

Security Assessment

Global Security Assessment Market to Reach US$25.9 Billion by 2030

The global market for Security Assessment estimated at US$7.7 Billion in the year 2023, is expected to reach US$25.9 Billion by 2030, growing at a CAGR of 19.0% over the analysis period 2023-2030. Endpoint Security, one of the segments analyzed in the report, is expected to record a 17.0% CAGR and reach US$7.2 Billion by the end of the analysis period. Growth in the Network Security segment is estimated at 20.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.0 Billion While China is Forecast to Grow at 24.2% CAGR

The Security Assessment market in the U.S. is estimated at US$2.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.7 Billion by the year 2030 trailing a CAGR of 24.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 14.2% and 16.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.4% CAGR.

Global Security Assessment Market - Key Trends and Drivers Summarized

How Is Security Assessment Enhancing Organizational Safety?

Security assessment is a comprehensive evaluation process that identifies vulnerabilities, assesses risks, and determines the effectiveness of an organization’s security controls. It encompasses various methodologies, such as vulnerability assessments, penetration testing, compliance audits, and risk assessments, to detect and mitigate potential threats. Security assessments are essential for organizations across industries, helping them safeguard critical data, intellectual property, and sensitive information from unauthorized access, breaches, and other cybersecurity threats. As cyberattacks become more sophisticated, organizations are increasingly adopting security assessments to ensure robust protection and compliance with industry regulations, making it a fundamental component of modern cybersecurity strategies.

What Are the Key Segments in the Security Assessment Market?

Key types include vulnerability assessments, penetration testing, risk assessments, and compliance audits, with penetration testing leading the market due to its effectiveness in simulating real-world attacks and identifying weaknesses in systems. In terms of deployment, security assessment solutions can be cloud-based or on-premise, with cloud-based solutions gaining prominence due to their scalability, cost-efficiency, and ease of integration. Major end-user industries include BFSI (banking, financial services, and insurance), healthcare, government, IT and telecom, and retail, with BFSI holding a significant share due to the sector`s stringent data protection requirements and high risk of cyber threats.

How Are Security Assessments Integrated Across Various Sectors?

In the BFSI sector, security assessments are crucial for detecting vulnerabilities in financial systems, ensuring compliance with data protection regulations, and protecting customer information from breaches and fraud. Healthcare organizations utilize security assessments to safeguard patient data, protect electronic health records (EHRs), and ensure compliance with regulations like HIPAA. Government agencies rely on security assessments to evaluate the integrity of critical infrastructure, secure classified information, and meet national cybersecurity standards. The IT and telecom sector uses security assessments to prevent data leaks, protect cloud applications, and secure networks against unauthorized access. Additionally, the retail industry adopts security assessments to secure e-commerce platforms, protect payment gateways, and prevent data breaches.

What Factors Are Driving the Growth in the Security Assessment Market?

The growth in the Security Assessment market is driven by several factors, including the rising frequency of cyberattacks, which has increased the demand for proactive security measures to identify and mitigate vulnerabilities. Regulatory requirements, such as GDPR, HIPAA, and PCI-DSS, mandate regular security assessments, prompting widespread adoption across industries. Advancements in security technologies, including AI-driven threat detection and automated vulnerability scanning, have enhanced the effectiveness of security assessments, supporting broader integration. The growing reliance on cloud services, remote work solutions, and IoT devices has further fueled the need for robust security assessments to ensure data protection and compliance. Additionally, the increasing awareness of cybersecurity risks among organizations, coupled with government initiatives to strengthen national cybersecurity, is contributing to market growth.

Select Competitors (Total 29 Featured) -

• Absolute Software
• Check Point
• Cynergistek
• Fireeye
• IBM
• Kaspersky
• Optiv Security
• Positive Technologies
• Qualys
• Rapid7
• Trustwave
• Veracode

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