Security Assurance Market 2021 SWOT Analysis, Key Business Strategies, Leading Industry Players, Regional Growth, Demand, Share, Challenges, Opportunities and 2030 Forecast Research Report

In a recent published report, Kenneth Research has updated the market report for Security Assurance Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Security Assurance Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.

Market Synopsis

The Global Security Assurance Market is Expected to Register a CAGR of 10.4% During The Forecast Period to Reach USD 6.71 billion by 2024.Enterprises across the globe are dependant on software to protect their computing environment and data on the cloud as well as on premise which has increased the requirement of software security assurance. The enterprises use software security to assess the security assurance practices of their technology suppliers/partners. One of the major factors contributing to market growth is the emergence of increasingly complex and stringent government regulations to protect enterprise data from unlawful access. Additionally, the growing adoption of cloud-based security assurance solutions among enterprises is also expected to drive the market. The growing deployment of third-party applications which protect the computing environment and data, integrated with the core software is another factor which contributes to the market size.

The Final Report will cover the impact analysis of COVID-19 on this industry:

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However, the concerns regarding hybrid cloud security are expected to limit market growth during the forecast period. Growing cloud-based applications across verticals and the increasing trend of IoT and connected mobile devices are expected to offer lucrative opportunities to the key providers of security assurance in the global market.

Segmentation

The global security assurance market has been segmented based on application, organization size, vertical, and region/country.

By application, the global security assurance market has been divided into mobility solutions, business applications, and system and network infrastructure.

Based on organization size, the global security assurance market has been divided into small- and medium-sized enterprise (SME) and large enterprise.

On the basis of vertical, the global security assurance market has been divided into banking, financial services and insurance (BFSI), telecommunications and IT, healthcare and pharmaceuticals, government, retail and e-commerce, manufacturing, and others.

The global security assurance market has been analyzed for four regions—North America, Europe, Asia-Pacific, and the rest of the world.

Key Players

Avaya Inc.(US)

IBM Corporation (US)

Infosys Limited (India)

Micro Focus (UK)

NETSCOUT (US)

SAS Institute Inc. (US)

Capgemini (France)

Spirent Communications (UK)

Radix Security Inc. (Israel)

Tenable Inc. (US)

Telos Corporation (US)

Happiest Minds (India)

CIPHER Security LLC (US)

BizCarta Technologies India Pvt Ltd

Aura Information Security (Australia)

Regional Analysis

The Global Security Assurance Market is estimated to grow moderately during the forecast period from 2019 to 2024. The geographic analysis of the global security assurance market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.

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North America accounts for the highest market share owing to the rapid adoption of cloud technology as well as increasing stringency of data protection regulations. The study has covered the US, Canada, and Mexico under the region. Increasing measures to prevent increasing security attacks and breaches act as a driver for the growth of the market in the US.

The market in Europe is expected to be the second-largest during the review period due to the need to mitigate IT security threats. Asia-Pacific is anticipated to be the fastest growing market in the global security assurance market during the forecast period. The rise in the adoption of security assurance services among SMEs is expected to contribute to the growth of the security assurance market in Asia-Pacific.

Competitive Analysis

The security assurance vendors are increasingly focusing on offering innovative solutions and services thus making significant investments in their research & development (R&D) activities. Software launches, service enhancement, mergers, acquisitions, and partnerships are the major strategies adopted by vendors in the security assurance market to cater to the diverse requirements of the clients and expand to new regions. For instance, in April 2019, SAP (Germany) and Micro Focus (UK) partnered which led to the integration of SAP Code Vulnerability Analyzer and SAP Fortify by Micro Focus to achieve security assurance.

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Intended Audience

Security assurance vendors

Systems integrators

Cloud services providers

Third party providers

Distributors and Value-Added Resellers (VARs)

Investors and venture capitalists

Market consultants

Compliance officers

Regulators

Chief Financial Officers

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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