Security Assurance

Security Assurance

Global Security Assurance Market to Reach US$13.0 Billion by 2030

The global market for Security Assurance estimated at US$7.2 Billion in the year 2023, is expected to reach US$13.0 Billion by 2030, growing at a CAGR of 8.9% over the analysis period 2023-2030. Security Assurance for Large Enterprises, one of the segments analyzed in the report, is expected to record a 7.6% CAGR and reach US$7.8 Billion by the end of the analysis period. Growth in the Security Assurance for SMEs segment is estimated at 11.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.9 Billion While China is Forecast to Grow at 11.9% CAGR

The Security Assurance market in the U.S. is estimated at US$1.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.9 Billion by the year 2030 trailing a CAGR of 11.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 6.0% and 7.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.7% CAGR.

Global Security Assurance Market - Key Trends and Drivers Summarized

Why Is Security Assurance Critical in Cyber Defense?

Security assurance is a systematic approach to evaluating and verifying that an organization’s security controls, protocols, and processes effectively protect information assets against threats. It involves continuous monitoring, validation, and testing of security measures to ensure that they function as intended and align with compliance requirements. Security assurance provides organizations with the confidence that their systems and data are adequately safeguarded, reducing the risk of breaches, data loss, and other cybersecurity incidents. As cyber threats become more persistent and complex, security assurance has become an integral part of an organization’s cybersecurity framework, enabling proactive risk management and compliance with security standards.

What Are the Key Segments in the Security Assurance Market?

Major applications include network security assurance, application security assurance, endpoint security assurance, and cloud security assurance, with cloud security assurance experiencing significant growth due to the rapid adoption of cloud services across sectors. In terms of organization size, the market covers small and medium-sized enterprises (SMEs) and large enterprises, with large enterprises leading the market due to their complex IT infrastructure and higher cybersecurity budgets. Key industry verticals include BFSI, IT and telecom, healthcare, government, and retail, with the BFSI sector representing a large market share due to stringent data protection requirements and the high value of financial data.

How Is Security Assurance Being Implemented Across Organizations?

Large enterprises implement security assurance programs to continuously monitor and validate their security infrastructure, using a combination of automated tools, manual testing, and compliance audits. The BFSI sector integrates security assurance into its digital banking platforms, transaction systems, and customer data protection measures to prevent fraud and comply with financial regulations. Healthcare providers use security assurance to protect patient records, medical devices, and telehealth systems, ensuring compliance with regulations like HIPAA. The IT and telecom industry leverages security assurance to secure cloud services, networks, and communication channels, maintaining data integrity and preventing breaches. In the retail sector, security assurance is applied to secure payment processing systems, protect customer information, and prevent data leaks from e-commerce platforms.

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

The growth in the Security Assurance market is driven by several factors, including the increasing need for comprehensive cybersecurity measures to protect against advanced threats and comply with stringent regulations. The rapid adoption of cloud services, digital transformation initiatives, and remote work solutions has heightened the need for security assurance to validate and protect complex IT environments. Advancements in security technologies, such as AI-based threat detection, automation, and real-time monitoring, have improved the efficiency and effectiveness of security assurance, supporting wider adoption. The growing awareness of cyber risks, along with the rising emphasis on risk management and compliance, has prompted organizations to invest in security assurance solutions. Additionally, the expanding use of IoT devices and the increasing sophistication of cyberattacks have underscored the importance of security assurance in maintaining resilient and secure systems.

Select Competitors (Total 34 Featured) -

• Aura Information Security
• Avaya Inc.
• BizCarta Technologies India Pvt Ltd
• Capgemini
• Cipher Security LLC
• Happiest Minds
• IBM Corporation
• Infosys Limited
• Micro Focus
• Netscout
• Radix Security Inc.
• SAS Institute Inc.
• Spirent Communications
• Telos Corporation
• Tenable Inc.

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