The Europe Security Assurance Market would witness market growth of 8.6% CAGR during the forecast period (2022-2028).
Security assurance is required not just for interactions between cloud users and cloud servers but also for data stored at rest on cloud servers. When outsourcing important data assets to the cloud for storage, cloud customers, in particular, may have serious worries regarding data integrity. Outsourced data may have a potentially extended lifespan, making it more susceptible to purposeful or unintentional change, corruption, or erasure due to irresponsible system maintenance or reduced costs. In addition, data storage appears to be more difficult for the following reasons, even if the data integrity problem for communications can be solved with pre-made approaches such as message integrity code.
The networks are now more vulnerable to cyber-attacks and similar dangers due to the widespread use of electronic devices and cloud computing activities. Moreover, the consumers of the services are anticipated to receive a guarantee of protection from harmful software or human attacks. Therefore, predicting cybercrime and defending users from it has become paramount. The increased use of cloud computing and cloud-based solutions has fueled the market's expansion.
Russian intelligence claims that the Russian government is setting up protections against upcoming hacks. Several cybercriminal organizations have now also backed the Russian government. In retribution for supposedly targeted assaults against the Russian government and people, these organizations of cyber terrorists with ties to Russia have threatened to carry out activities. Threats of cyberattacks by some groups against countries and institutions that aid the Ukrainian military have also been made. Other cybercriminal organizations have recently launched destabilizing attacks on Ukrainian websites, perhaps in support of Russia's military incursion. Considering these factors, the security assurance market may witness growth prospects in Europe region.
The Germany market dominated the Europe Security Assurance Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $629.8 Million by 2028. The UK market is anticipated to grow at a CAGR of 7.7% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 9.4% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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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