Growing concerns about cyber-attacks and threat of phishing and malware among various businesses to drive the global Security Assurance Market growth. Massive use of mobile tools and applications is predicted to open new growth avenues for the global market. Based on region, the market in North America accounted for more than one-thirds of the global market share in 2021.
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The report offers a detailed a segmentation of the global security assurance market based on type, enterprise size, industry vertical, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on type, the system and network infrastructure segment held the largest share in 2021, contributing to around three-fifths of the global security assurance market share, and is likely to maintain its leadership status during the forecast period. However, the mobility solutions segment is expected to manifest the highest CAGR of 12.2% from 2022 to 2031. The report also includes other segments such as business applications.
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Based on region, the market in North America accounted for more than one-third of the global security assurance market share in 2021. However, the Asia-Pacific region is predicted to dominate the global market share during the forecast period. In addition, the security assurance market in the Asia-Pacific region is expected to manifest the highest CAGR of 11.9% from 2022 to 2031. The report also discusses the Europe and LAMEA regions.
Leading players of the global security assurance market analyzed in the research include Accenture plc, Aura Information Security, Avaya, Inc., BizCarta Technologies India Pvt Ltd, CIPHER Security LLC., Capgemini SE, Happiest Minds Technologies, International Business Machine Corporation, Infosys Ltd., Microsoft Corporation, Micro Focus International plc, NetScout Systems, Inc., Radix Technologies Ltd., SAS Institute, Spirent Communications plc, Tenable, Inc., and Telos Corporation.
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Covid-19 Scenario:
- The COVID-19 pandemic had a favorable impact on the growth of global security assurance market due to a surge in the number of smartphone users, surging acceptance of connected devices, and a thriving e-commerce sector.
- However, lack of availability of skilled workforce due to lockdown during the COVID-19 pandemic slowed the growth of the global market.
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