The rising use of Internet of Things (IoT)-based devices, resulting in upshifting the amount of digital data, is expected to drive the growth of the security assurance market
The global security assurance market size is expected 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 is a modern approach to assess and manage IT security risks and vulnerabilities proactively.
Security assurance services empower enterprises to timely detect, assess, and manage the security risks associated with mobile devices, business applications, and related technology environments. However, difficulty in providing hybrid cloud security is one of the major restraining factors faced by the security assurance vendors currently.
Among applications, the mobility solutions segment is expected to account for the larger market share during the forecast period
The mobility solutions segment is expected to account for the larger market share by 2023. Rapid growth in the number of mobile devices across the globe is one of the driving factors for the growth of this market.
By vertical, the Banking, Financial Services, and Insurance (BFSI) vertical is expected to account for the largest market share during the forecast period
The BFSI vertical is expected to account for the largest market share during the forecast period. The BFSI vertical is continuously upgrading its processes and transaction technologies, and therefore requires agile end-to-end security solutions to secure operations against both, internal and external threats, followed by unauthorized accesses. This has resulted in BFSI accounting for a prominent share in the security assurance market.
By region, Asia Pacific is expected to grow at the highest CAGR during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period. The need to mitigate IT security threats and rise in the adoption of security assurance services among SMEs are factors driving the security assurance market growth in this region. MEA and Latin America are expected to witness steady growth during the forecast period.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the security assurance market.
The breakup of the profiles of the primary participants is given below:
- By Company: Tier 1 – 26%, Tier 2 – 36%, and Tier 3 – 38%
- By Designation: C-Level – 44%, Director Level – 50%, and Others – 6%
- By Region: North America – 35%, Europe – 29%, APAC – 30%, and RoW – 6%
The key security assurance vendors profiled in the report are as follows:
- Sogeti (France)
- Avaya (US)
- Content (Australia)
- Radix (US)
- BizCarta (India)
- Infosys (India)
- OpenText (Canada)
- Tenable (US)
- Microsoft (US)
- Aura (New Zealand)
- SAS (US)
- Happiest Minds (India)
- CIPHER (US)
- IBM (US)
- Accenture plc (Ireland)
- Micro Focus (UK)
- NETSCOUT (US)
- Oracle (US)
- Wipro (India)
- Telos (US)
- Critical (Portugal)
- Spirent (US)
- Signature Consulting Group (US).
Research Coverage
The security assurance market has been segmented based on application, organization size, industry vertical, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service launches; partnerships, agreements, and collaborations; expansions; and competitive landscape associated with the global security assurance market.
Reasons to Buy the Report
The report would help the market leaders/new entrants in the following ways:
- It comprehensively segments the security assurance market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
- It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities.
- It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes competitor ecosystem, new service developments, partnerships, and acquisitions.
Table of Contents
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Research Assumptions
2.4 Limitations
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
9.1 Introduction
9.2 North America
9.2.1 United States
9.2.2 Canada
9.3 Europe
9.3.1 United Kingdom
9.3.2 Germany
9.3.3 France
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 Australia and New Zealand
9.4.4 Rest of Asia Pacific
9.5 Middle East and Africa
9.5.1 Middle East
9.5.2 Africa
9.6 Latin America
9.6.1 Brazil
9.6.2 Mexico
9.6.3 Rest of Latin America
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
11.1 Introduction
11.2 Accenture
11.3 Avaya
11.4 IBM
11.5 Infosys
11.6 Micro Focus
11.7 Microsoft
11.8 Netscout
11.9 SAS Institute
11.10 Sogeti
11.11 Aura Information Security
11.12 Bizcarta
11.13 Cipher
11.14 Critical Software
11.15 Content Security
11.16 Happiest Minds
11.17 Opentext
11.18 Oracle
11.19 Telos Corporation
11.20 Tenable
11.21 Radix Security
11.22 Signature Consulting Group
11.23 Spirent Communications
11.24 Wipro
12 Appendix
12.1 Discussion Guide
12.2 Knowledge Store: Subscription Portal
12.3 Available Customizations
12.4 Related Reports
12.5 Author Details
List of Tables (39 Tables)
Table 1 Security Assurance Market Size, By Application, 2016–2023 (USD Million)
Table 2 Business Applications: Market Size By Region, 2016–2023 (USD Million)
Table 3 System and Network Infrastructure: Market Size By Region, 2016–2023 (USD Million)
Table 4 Mobility Solutions: Market Size By Region, 2016–2023 (USD Million)
Table 5 Security Assurance Market Size, By Organization Size, 2016–2023 (USD Million)
Table 6 Large Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 7 Small and Medium-Sized Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 8 Security Assurance Market Size, By Industry Vertical, 2016–2023 (USD Million)
Table 9 Banking, Financial Services, and Insurance: Market Size By Region, 2016–2023 (USD Million)
Table 10 Telecommunications: Market Size By Region, 2016–2023 (USD Million)
Table 11 Government: Market Size By Region, 2016–2023 (USD Million)
Table 12 Healthcare: Market Size By Region, 2016–2023 (USD Million)
Table 13 Retail: Market Size By Region, 2016–2023 (USD Million)
Table 14 Manufacturing: Market Size By Region, 2016–2023 (USD Million)
Table 15 Others: Market Size By Region, 2016–2023 (USD Million)
Table 16 Security Assurance Market Size, By Region, 2016–2023 (USD Million)
Table 17 North America: Market Size By Application, 2016–2023 (USD Million)
Table 18 North America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 19 North America: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 20 North America: Market Size By Country, 2016–2023 (USD Million)
Table 21 Europe: Security Assurance Market Size, By Application, 2016–2023 (USD Million)
Table 22 Europe: Market Size By Organization Size, 2016–2023 (USD Million)
Table 23 Europe: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 24 Europe: Market Size By Country, 2016–2023 (USD Million)
Table 25 Asia Pacific: Security Assurance Market Size, By Application, 2016–2023 (USD Million)
Table 26 Asia Pacific: Market Size By Organization Size, 2016–2023 (USD Million)
Table 27 Asia Pacific: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 28 Asia Pacific: Market Size By Country, 2016–2023 (USD Million)
Table 29 Middle East and Africa: Security Assurance Market Size, By Application, 2016–2023 (USD Million)
Table 30 Middle East and Africa: Market Size By Organization Size, 2016–2023 (USD Million)
Table 31 Middle East and Africa: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 32 Middle East and Africa: Market Size By Sub-Region, 2016–2023 (USD Million)
Table 33 Latin America: Security Assurance Market Size, By Application, 2016–2023 (USD Million)
Table 34 Latin America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 35 Latin America: Market Size By Industry Vertical, 2016–2023 (USD Million)
Table 36 Latin America: Market Size By Country, 2016–2023 (USD Million)
Table 37 Partnerships, Agreements, and Collaborations, 2018
Table 38 New Product/Service Launches and Product Enhancements, 2018
Table 39 Mergers and Acquisitions, 2018
List of Figures (36 Figures)
Figure 1 Security Assurance Market Segmentation
Figure 2 Market Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Security Assurance Market: Assumptions
Figure 8 Market Share Top 3 Industry Verticals, 2018
Figure 9 Market Share By Application, 2018
Figure 10 Market Share By Organization Size, 2018
Figure 11 Market Regional Snapshot
Figure 12 Growing Need to Secure Business-Critical Data and Processes is Expected to Fuel the Growth of the Security Assurance Market During the Forecast Period
Figure 13 BFSI and North America are Estimated to Have the Largest Market Shares in 2018
Figure 14 Asia Pacific is Expected to Emerge as the Best Market for Investments in the Next 5 Years
Figure 15 Security Assurance Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Mobility Solutions Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 17 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 18 Healthcare Industry Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 19 Asia Pacific is Expected to Be an Attractive Destination for the Security Assurance Market During the Forecast Period
Figure 20 North America: Market Snapshot
Figure 21 Asia Pacific: Market Snapshot
Figure 22 Accenture: Company Snapshot
Figure 23 Avaya: Company Snapshot
Figure 24 IBM: Company Snapshot
Figure 25 Infosys: Company Snapshot
Figure 26 Micro Focus: Company Snapshot
Figure 27 Microsoft: Company Snapshot
Figure 28 Netscout: Company Snapshot
Figure 29 SAS: Company Snapshot
Figure 30 Sogeti: Company Snapshot
Figure 31 Opentext: Company Snapshot
Figure 32 Oracle: Company Snapshot
Figure 33 Telos Corporation: Company Snapshot
Figure 34 Tenable: Company Snapshot
Figure 35 Spirent: Company Snapshot
Figure 36 Wipro: Company Snapshot
Samples
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Executive Summary
Companies Mentioned
- 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
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 112 |
| Published | October 2018 |
| Forecast Period | 2018 - 2023 |
| Estimated Market Value ( USD | $ 3.53 billion |
| Forecasted Market Value ( USD | $ 5.48 billion |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 23 |
