The security assurance market share is expected to increase by USD 3.14 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.78%.

This security assurance market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers security assurance market segmentation by deployment (on-premises and cloud-based) and geography (North America, APAC, Europe, MEA, and South America). The security assurance market report also offers information on several market vendors, including Accenture Plc, Aura Information Security, Avaya Holdings Corp., Capgemini SE, Infosys Ltd., International Business Machines Corp., Micro Focus International Plc, Microsoft Corp., NetScout Systems Inc., and SAS Institute Inc. among others.

What will the Security Assurance Market Size be During the Forecast Period?

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"North America is the largest contributor to the global security assurance market, and the region is expected to witness an increase in revenue during the forecast period."

Security Assurance Market: Key Drivers and Challenges

The growing need to improve security is notably driving the security assurance market growth, although factors such as budget constraints may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the security assurance industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Security Assurance Market Driver

With the increase in the frequency and complexity of cyberattacks, there is an urgent need for companies to improve the quality of protection. Cybersecurity attacks across the world have become a major cause of concern. The use of outdated technologies has led to an increase in the number of such attacks. Managed network security solutions are, therefore, used to safeguard the confidential data of organizations. Such data are prone to attacks from malicious software as well as unauthorized external access, further increasing the need for security solutions. Thus, the need to improve security has significantly increased, which, in turn, will drive the growth of the market during the forecast period. Several organizations have taken steps to maintain the secrecy of their data, which gives an opportunity to vendors to launch various services for security purposes. 

Key Security Assurance Market Challenge

Security assurance was of high priority in 2020, and this is expected to remain the same as organizations contend with more threats and vulnerabilities. At the same time, they must adhere to specific compliance and regulatory requirements. The shift to remote working also has created a greater need for endpoint security so workers can access corporate resources beyond the physical network. This has increased the need for security assurance, such as cyber security assurance. The cyber threat landscape is constantly evolving, and computer technology changes rapidly. Thus, organizations must exercise security assurance, validate the effectiveness of controls, and ensure compliance with regulatory and legal requirements. These guidelines can help to ensure proper cyber risk management oversight. Such factors have increased the need for spending on security services, which pose budget constraints, especially on growing economies. Thus, the growing cyber threat that has increased the need for IT budget on cyber security assurance poses a challenge, which, in turn, has hampered the market growth. Thus, the increasing need for an IT budget regarding security assurance may act as a challenge for the market during the forecast period. 

This security assurance market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Market Overview

The parent global IT software market covers companies engaged in developing and producing application and system software. It also includes companies offering database management software. The global systems software market covers organizations that are engaged in developing application development and management software, cloud computing software, data center and hosting software, IT management software, mobility software, networking software, security software, and storage software.

Who are the Major Security Assurance Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Accenture Plc
• Aura Information Security
• Avaya Holdings Corp.
• Capgemini SE
• Infosys Ltd.
• International Business Machines Corp.
• Micro Focus International Plc
• Microsoft Corp.
• NetScout Systems Inc.
• SAS Institute Inc.

This statistical study of the security assurance market encompasses successful business strategies deployed by the key vendors. The security assurance market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The security assurance market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Security Assurance Market?

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35% of the market's growth will originate from North America during the forecast period. The US is a key market for security assurance in North America. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America.

The need for compliance with regulations imposed by the government due to the growing instances of cyberattacks on hosted servers will facilitate the security assurance market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Deployment Segments in the Security Assurance Market?

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The security assurance market share growth by the on-premises segment will be significant during the forecast period. On-premises is the traditional and preferred method of security assurance. Hence, the segment holds the largest share of the global security assurance market. On-premises deployments enable the real-time monitoring of security assurance. Such deployments also ensure the complete security of enterprise data, such as source codes, version enhancements, and source code change histories, as they only require licensed or purchased copies of software solutions from independent software vendors.

This report provides an accurate prediction of the contribution of all the segments to the growth of the security assurance market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Security Assurance Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive security assurance market growth during the next five years
• Precise estimation of the security assurance market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the security assurance industry across North America, APAC, Europe, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of security assurance market vendors

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