The Asia Pacific Security Assurance Market would witness market growth of 10.2% CAGR during the forecast period (2022-2028).
The e-commerce divisions frequently offer seamless apps, which are typically held by third parties and are further connected with the main business software of the organization. Regarding integrating necessary site analytics or marketing metrics, third-party providers incorporate and adjust as per the customers' needs. Unfortunately, this technology offers a flimsy network susceptible to a greater variety of online threats. So, as e-commerce scenarios become more prevalent, there is an increased requirement for security assurance devices.
In the tourism & hospitality sectors, security assurance has many different uses. Hotel rooms, guesthouses, and other lodgings can be secured with the security assurance. Restaurants, pubs, and other public spaces can also be secured using it. Security Assurance can also protect transportation services like taxis and buses.
The governments of several nations are implementing various steps to enhance the BFSI sector in the region. By abolishing the $745 transaction cap and allowing banks to set their constraints, for instance, the Reserve Bank of India (RBI) has taken steps to promote mobile payments, one of the key growth drivers for the banking industry. Furthermore, under the New Pradhan Mantri Jan Dhan Yojana, a significant number of people, especially in rural regions, have opened bank accounts. Nonetheless, because of the expansion of the BFSI industry in the region, a well-organized banking system is required to protect the data from any breaches. Therefore, it is anticipated to contribute to the rise of the market for security assurance in Asia Pacific.
The China market dominated the Asia Pacific Security Assurance Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $807.5 Million by 2028. The Japan market is estimated to grow a CAGR of 9.6% during (2022 - 2028). Additionally, The India market would experience a CAGR of 10.9% during (2022 - 2028).
Based on Type, the market is segmented into Business Applications, System & Network Infrastructure, and Mobility Solutions. Based on Organization Size, the market is segmented into Large Size Organizations, and Small & Medium Sized Organizations. Based on Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail, Government, Manufacturing, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Security Assurance Market is Projected to reach USD 9.7 Billion by 2028, at a CAGR of 9.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accenture PLC, Microsoft Corporation, Infosys Limited, IBM Corporation, Capgemini SE, Avaya, Inc. (Avaya Holdings Corp.), Spirent Communications plc, Tenable Holdings, Inc., Happiest Minds Technologies Limited and SAS Institute, Inc.
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