Security Assurance Market Synopsis

Security Assurance Market Size is Valued at USD 7.62 Billion in 2023 and is Projected to Reach USD 16.59 Billion by 2032, Growing at a CAGR of 10.20% From 2024-2032.

The Security Assurance Market deals with services and products that are utilized to secure applications, cloud, networks, data, and endpoints. It serves both the small and medium sized businesses as well as the large enterprises from the sectors like BFSI, government and defense, IT and telecommunication, healthcare, retail and energy and utilities. It also lays down the deployment models in terms of the cloud and on-premise and its geographical locations in the global markets including North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.

• The Security Assurance Market is stimulated by the constantly rising volume and level of threats and cyberattacks which require improved security systems. Since cyber criminals are now using more sophisticated techniques to penetrate various organizations’ security systems, more enterprises across all sectors are now spending a lot of money in security assurance solutions to protect their information and computer systems. Cloud computing adoption and BYOD policies also emphasize the need for security assurance as both of these trends increase the risks that an organization faces by providing more potential entry points for a threat actor.
• Moreover, regulatory and compliance standards are also found to be a major factor that influences the Security Assurance Market. Countries’ governments and regulatory institutions have developed strict data protection laws and security standards that require organizations to enhance security. The need for security assurance rises because of the constant evaluation, monitoring, and improvement of security measures to meet requirements like GDPR, HIPAA, and PCI DSS. However, the growth of digital transformation activities and increasing number of IoT devices also help to increase the market size as these environments are becoming more sophisticated and require better security.

Security Assurance Market Trend Analysis

Technological Innovations Propel Growth in Security Assurance Market

• The Security Assurance Market is in growth stage due to the rising incidence of cyber threats and the need for enhanced security solutions in organizations. The increasing digital business transformation, cloud services, and ‘things’ based IoT have increased the security risks and security assurance has emerged as a vital factor across industries. Enterprise are now focusing more and more on applications like application security, cloud security and end point security to secure their data and to meet with the compliance standards set by the regulations. Furthermore, the change in working environments to remote settings caused by the COVID-19 outbreak similarly increases the need for reliable security assurance frameworks.
• Furthermore, there is a marked shift of the market towards the adoption of advanced technologies such as AI and ML for improving threat detection and response. AI and ML are being incorporated into security assurance solutions in order to enhance the real-time capabilities, automate the identification of threats and decrease response time all of which serve to enhance the overall efficiency of the security assurance solutions. The increased frequency and severity of cyber threats towards critical assets such as infrastructure and financial organizations have also contributed to the increased demand for security assurance from industries including BFSI, healthcare, and government. In addition, the increase in the use of cloud-based security assurance solutions is a boon for SMEs and large enterprises since they are easy to implement, affordable and can be scaled up as needed. The market is also projected to rise further as a result of these advancements and the growing demand for integrated solutions in organizations and businesses.

Securing the Digital Frontier, The Booming Security Assurance Market

• The Security Assurance Market is a large and growing market that is spurred by the ever-rising cases of cyber threats in different sectors. With the increasing focus on data privacy and the need to meet various regulatory requirements, the need for security assurance is rapidly growing as more organizations seek to safeguard their information. Emerging technologies such as Cloud computing, IoT and BYOD (Bring Your Own Device) have added to the attack surface, increasing the need for security. Furthermore, the increase in the number of remote workforces as a result of global occurrences such as the COVID-19 pandemic has also boosted the demand for robust security assurance, which presents a suitable environment for the market to thrive.
• Security assurance solutions are also receiving benefits from the developing technologies like AI and ML for preventing threats proactively. When AI and ML are combined with each other, they can provide intelligent analytics that help in detecting patterns and outliers that normal methods cannot detect. Advancements in cybersecurity infrastructure, and investments made by governments and enterprises are also driving the market. It is evident that firms providing unique security assurance solution portfolios are well positioned to capture increased business as organizations globally grapple with new security threats. The increase in the rollout of digital transformation projects across different industries gives credence to the large opportunity for growth in the Security Assurance Market.

Security Assurance Market Segment Analysis:

Security Assurance Market Segmented on the basis of type, Organization size, and Vertical.

By Type, Application Security segment is expected to dominate the market during the forecast period

• The Security Assurance Market can be categorized on the basis of types into several sub-markets. Application Security is more centered on the security of software application that are at risk of being compromised during the application’s life cycle. Cloud Security refers to measures in place that are aimed at protecting data, applications and services in a cloud platform. Network Security encompasses methods and mechanisms of defending computer networks from unauthorized access, leakage of sensitive information, or denial of service. Data security is the effort to ensure that data is not lost, corrupted or accessed by unauthorized individuals. Endpoint security also comprises the protection of endpoints or devices such as laptops, mobile devices, and desks against threats. Also, there are other markets of security types which meet new and specific demands and requirements for security.

By Vertical, IT and Telecom segment held the largest share in 2024

• The Security Assurance Market can be categorized on the basis of types into several sub-markets. Application Security is more centered on the security of software application that are at risk of being compromised during the application’s life cycle. Cloud Security refers to measures in place that are aimed at protecting data, applications and services in a cloud platform. Network Security encompasses methods and mechanisms of defending computer networks from unauthorized access, leakage of sensitive information, or denial of service. Data security is the effort to ensure that data is not lost, corrupted or accessed by unauthorized individuals. Endpoint security also comprises the protection of endpoints or devices such as laptops, mobile devices, and desks against threats. Also, there are other markets of security types which meet new and specific demands and requirements for security.

Security Assurance Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

• Asia Pacific Security Assurance Market is rapidly growing due to the rising cyber threats and technological advancements across all the sectors. India, China, Japan and South Korea are some of the countries experiencing the growing need for security assurance solutions to guard information and structures. Another factor is the increase in the number of e-commerce companies that are located in the region and the need to adhere to the regulatory guidelines on data privacy.
• Furthermore, the Asia Pacific region is undergoing a highly rapid digitalization process; as a result, the demands for more effective security solutions are growing. Other factors like the use of mobile phones, IoT devices and cloud computing are also contributing to the need for security assurance solutions. Companies in the region are targeting product diversification and increasing their R&D efforts to counter shifts in the cybersecurity environment.

Active Key Players in the Security Assurance Market

• Accenture (Ireland)
• Avaya (US)
• IBM (US)
• Infosys (India)
• Micro Focus (UK)
• Microsoft (US)
• NETSCOUT (US)
• SAS (US)
• Sogeti (France)
• Aura (New Zealand)
• BizCarta (India)
• Cipher (US)
• CRITICAL Software (Portugal)
• Content Security (Australia)
• Happiest Minds (India)
• OpenText (Canada)
• Oracle (US)
• Telos (US)
• Tenable (US)
• Radix Security (US)
• Signature Consulting Group (US)
• Spirent (US)
• Wipro (India), Others key Players.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Security Assurance Market by Type
 4.1 Security Assurance Market Snapshot and Growth Engine
 4.2 Security Assurance Market Overview
 4.3 Application Security
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Application Security: Geographic Segmentation Analysis
 4.4 Cloud Security
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Cloud Security: Geographic Segmentation Analysis
 4.5 Network Security
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Network Security: Geographic Segmentation Analysis
 4.6 Data Security
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Data Security: Geographic Segmentation Analysis
 4.7 Endpoint Security
  4.7.1 Introduction and Market Overview
  4.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.7.3 Key Market Trends, Growth Factors and Opportunities
  4.7.4 Endpoint Security: Geographic Segmentation Analysis
 4.8 Others
  4.8.1 Introduction and Market Overview
  4.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.8.3 Key Market Trends, Growth Factors and Opportunities
  4.8.4 Others: Geographic Segmentation Analysis

Chapter 5: Security Assurance Market by Organization Size
 5.1 Security Assurance Market Snapshot and Growth Engine
 5.2 Security Assurance Market Overview
 5.3 Small & Medium-sized Enterprises (SMEs)
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Small & Medium-sized Enterprises (SMEs): Geographic Segmentation Analysis
 5.4 Large Enterprises
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Large Enterprises: Geographic Segmentation Analysis

Chapter 6: Security Assurance Market by Vertical
 6.1 Security Assurance Market Snapshot and Growth Engine
 6.2 Security Assurance Market Overview
 6.3 Banking
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Banking: Geographic Segmentation Analysis
 6.4 Financial Services
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Financial Services: Geographic Segmentation Analysis
 6.5 & Insurance (BFSI)
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 & Insurance (BFSI): Geographic Segmentation Analysis
 6.6 Government & Defense
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Government & Defense: Geographic Segmentation Analysis
 6.7 IT & Telecom
  6.7.1 Introduction and Market Overview
  6.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.7.3 Key Market Trends, Growth Factors and Opportunities
  6.7.4 IT & Telecom: Geographic Segmentation Analysis
 6.8 Healthcare
  6.8.1 Introduction and Market Overview
  6.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.8.3 Key Market Trends, Growth Factors and Opportunities
  6.8.4 Healthcare: Geographic Segmentation Analysis
 6.9 Retail
  6.9.1 Introduction and Market Overview
  6.9.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.9.3 Key Market Trends, Growth Factors and Opportunities
  6.9.4 Retail: Geographic Segmentation Analysis
 6.10 Energy & Utilities
  6.10.1 Introduction and Market Overview
  6.10.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.10.3 Key Market Trends, Growth Factors and Opportunities
  6.10.4 Energy & Utilities: Geographic Segmentation Analysis
 6.11 Others
  6.11.1 Introduction and Market Overview
  6.11.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.11.3 Key Market Trends, Growth Factors and Opportunities
  6.11.4 Others: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Security Assurance Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 ACCENTURE (IRELAND)
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 AVAYA (US)
 7.4 IBM (US)
 7.5 INFOSYS (INDIA)
 7.6 MICRO FOCUS (UK)
 7.7 MICROSOFT (US)
 7.8 NETSCOUT (US)
 7.9 SAS (US)
 7.10 SOGETI (FRANCE)
 7.11 AURA (NEW ZEALAND)
 7.12 BIZCARTA (INDIA)
 7.13 CIPHER (US)
 7.14 CRITICAL SOFTWARE (PORTUGAL)
 7.15 CONTENT SECURITY (AUSTRALIA)
 7.16 HAPPIEST MINDS (INDIA)
 7.17 OPENTEXT (CANADA)
 7.18 ORACLE (US)
 7.19 TELOS (US)
 7.20 TENABLE (US)
 7.21 RADIX SECURITY (US)
 7.22 SIGNATURE CONSULTING GROUP (US)
 7.23 SPIRENT (US)
 7.24 WIPRO (INDIA)
 7.25 OTHERS KEY PLAYERS

Chapter 8: Global Security Assurance Market By Region
 8.1 Overview
 8.2. North America Security Assurance Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Type
   8.2.4.1 Application Security
   8.2.4.2 Cloud Security
   8.2.4.3 Network Security
   8.2.4.4 Data Security
   8.2.4.5 Endpoint Security
   8.2.4.6 Others
  8.2.5 Historic and Forecasted Market Size By Organization Size
   8.2.5.1 Small & Medium-sized Enterprises (SMEs)
   8.2.5.2 Large Enterprises
  8.2.6 Historic and Forecasted Market Size By Vertical
   8.2.6.1 Banking
   8.2.6.2 Financial Services
   8.2.6.3 & Insurance (BFSI)
   8.2.6.4 Government & Defense
   8.2.6.5 IT & Telecom
   8.2.6.6 Healthcare
   8.2.6.7 Retail
   8.2.6.8 Energy & Utilities
   8.2.6.9 Others
  8.2.7 Historic and Forecast Market Size by Country
   8.2.7.1 US
   8.2.7.2 Canada
   8.2.7.3 Mexico
 8.3. Eastern Europe Security Assurance Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Type
   8.3.4.1 Application Security
   8.3.4.2 Cloud Security
   8.3.4.3 Network Security
   8.3.4.4 Data Security
   8.3.4.5 Endpoint Security
   8.3.4.6 Others
  8.3.5 Historic and Forecasted Market Size By Organization Size
   8.3.5.1 Small & Medium-sized Enterprises (SMEs)
   8.3.5.2 Large Enterprises
  8.3.6 Historic and Forecasted Market Size By Vertical
   8.3.6.1 Banking
   8.3.6.2 Financial Services
   8.3.6.3 & Insurance (BFSI)
   8.3.6.4 Government & Defense
   8.3.6.5 IT & Telecom
   8.3.6.6 Healthcare
   8.3.6.7 Retail
   8.3.6.8 Energy & Utilities
   8.3.6.9 Others
  8.3.7 Historic and Forecast Market Size by Country
   8.3.7.1 Bulgaria
   8.3.7.2 The Czech Republic
   8.3.7.3 Hungary
   8.3.7.4 Poland
   8.3.7.5 Romania
   8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Security Assurance Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Type
   8.4.4.1 Application Security
   8.4.4.2 Cloud Security
   8.4.4.3 Network Security
   8.4.4.4 Data Security
   8.4.4.5 Endpoint Security
   8.4.4.6 Others
  8.4.5 Historic and Forecasted Market Size By Organization Size
   8.4.5.1 Small & Medium-sized Enterprises (SMEs)
   8.4.5.2 Large Enterprises
  8.4.6 Historic and Forecasted Market Size By Vertical
   8.4.6.1 Banking
   8.4.6.2 Financial Services
   8.4.6.3 & Insurance (BFSI)
   8.4.6.4 Government & Defense
   8.4.6.5 IT & Telecom
   8.4.6.6 Healthcare
   8.4.6.7 Retail
   8.4.6.8 Energy & Utilities
   8.4.6.9 Others
  8.4.7 Historic and Forecast Market Size by Country
   8.4.7.1 Germany
   8.4.7.2 UK
   8.4.7.3 France
   8.4.7.4 Netherlands
   8.4.7.5 Italy
   8.4.7.6 Russia
   8.4.7.7 Spain
   8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Security Assurance Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Type
   8.5.4.1 Application Security
   8.5.4.2 Cloud Security
   8.5.4.3 Network Security
   8.5.4.4 Data Security
   8.5.4.5 Endpoint Security
   8.5.4.6 Others
  8.5.5 Historic and Forecasted Market Size By Organization Size
   8.5.5.1 Small & Medium-sized Enterprises (SMEs)
   8.5.5.2 Large Enterprises
  8.5.6 Historic and Forecasted Market Size By Vertical
   8.5.6.1 Banking
   8.5.6.2 Financial Services
   8.5.6.3 & Insurance (BFSI)
   8.5.6.4 Government & Defense
   8.5.6.5 IT & Telecom
   8.5.6.6 Healthcare
   8.5.6.7 Retail
   8.5.6.8 Energy & Utilities
   8.5.6.9 Others
  8.5.7 Historic and Forecast Market Size by Country
   8.5.7.1 China
   8.5.7.2 India
   8.5.7.3 Japan
   8.5.7.4 South Korea
   8.5.7.5 Malaysia
   8.5.7.6 Thailand
   8.5.7.7 Vietnam
   8.5.7.8 The Philippines
   8.5.7.9 Australia
   8.5.7.10 New Zealand
   8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Security Assurance Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Type
   8.6.4.1 Application Security
   8.6.4.2 Cloud Security
   8.6.4.3 Network Security
   8.6.4.4 Data Security
   8.6.4.5 Endpoint Security
   8.6.4.6 Others
  8.6.5 Historic and Forecasted Market Size By Organization Size
   8.6.5.1 Small & Medium-sized Enterprises (SMEs)
   8.6.5.2 Large Enterprises
  8.6.6 Historic and Forecasted Market Size By Vertical
   8.6.6.1 Banking
   8.6.6.2 Financial Services
   8.6.6.3 & Insurance (BFSI)
   8.6.6.4 Government & Defense
   8.6.6.5 IT & Telecom
   8.6.6.6 Healthcare
   8.6.6.7 Retail
   8.6.6.8 Energy & Utilities
   8.6.6.9 Others
  8.6.7 Historic and Forecast Market Size by Country
   8.6.7.1 Turkey
   8.6.7.2 Bahrain
   8.6.7.3 Kuwait
   8.6.7.4 Saudi Arabia
   8.6.7.5 Qatar
   8.6.7.6 UAE
   8.6.7.7 Israel
   8.6.7.8 South Africa
 8.7. South America Security Assurance Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Type
   8.7.4.1 Application Security
   8.7.4.2 Cloud Security
   8.7.4.3 Network Security
   8.7.4.4 Data Security
   8.7.4.5 Endpoint Security
   8.7.4.6 Others
  8.7.5 Historic and Forecasted Market Size By Organization Size
   8.7.5.1 Small & Medium-sized Enterprises (SMEs)
   8.7.5.2 Large Enterprises
  8.7.6 Historic and Forecasted Market Size By Vertical
   8.7.6.1 Banking
   8.7.6.2 Financial Services
   8.7.6.3 & Insurance (BFSI)
   8.7.6.4 Government & Defense
   8.7.6.5 IT & Telecom
   8.7.6.6 Healthcare
   8.7.6.7 Retail
   8.7.6.8 Energy & Utilities
   8.7.6.9 Others
  8.7.7 Historic and Forecast Market Size by Country
   8.7.7.1 Brazil
   8.7.7.2 Argentina
   8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research