Published Date: 31-Mar-23
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According to a new report, published by KBV research, The Global Security Assurance Market size is expected to reach $9.7 billion by 2028, rising at a market growth of 9.3% CAGR during the forecast period.
The Business Applications segment acquired maximum revenue share in the Global Security Assurance Market by Type in 2021 thereby, achieving a market value of $3.9 billion by 2028. Business apps are software that aids in the operation management of businesses. Software for customer relationship management (CRM), corporate resource planning (ERP), and supply chain management (SCM) are included. These programs assist businesses in keeping track of their sales, finances, and inventory and managing client interactions.
The Small & Medium Sized Organizations segment is showcasing a CAGR of 11% during (2022 - 2028). The market has expanded due to the quick adoption of technology among small & medium-sized businesses, including startups, to cut costs. Businesses are now more susceptible to financial and cyber dangers due to the IoT's expanding applications & networking capabilities and the integration of third-party applications with the core software. Due to constrained resources accessible to startups, solutions should be simple and affordable.
The BFSI segment is leading the Global Security Assurance Market by Vertical in 2021 thereby, achieving a market value of $3 billion by 2028. The growing threat of cyberattacks, which is steadily undermining customer confidence, is one of the major factors driving the development of the security assurance market in this sector. While banks and other financial institutions employ cloud, mobile, and social technologies to ensure the most effective financial management, economic establishments must also provide strict security and virtual privacy.
The North America market dominated the Global Security Assurance Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.3 billion by 2028. The Europe market is experiencing a CAGR of 8.6% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 10.2% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/security-assurance-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
By Organization Size
Unique Offerings from KBV Research
North America Security Assurance Market size & Opportunities 2022-2028
Europe Security Assurance Market & Growth Forecast 2022-2028
Asia Pacific Security Assurance Market Share & Industry Outlook to 2028
LAMEA Security Assurance Market Growth, Trends & Forecasts 2022-2028