Security Assessment Market extrapolated to gain $4.03 Billion by 2022

(IT-NEWSWIRE.COM, June 02, 2020 ) According to a new market research report "Security Assessment Market by Security Type (Endpoint Security, Network Security, Application Security, Cloud Security), Assessment Type, Deployment Mode, Organization Size, Industry Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the security assessment market expected to grow from $1.26 Billion in 2017 to $4.03 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 26.1% during the forecast period. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.

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Cloud security segment is expected to play a key role in the security assessment market

The cloud services segment is expected to play an important role in changing the security assessment marketspace and grow at the highest CAGR during the forecast period. Security assessment services help organizations evaluate their existing security posture and then align it to their desired cyber security goals and strategies eventually provide robust security the business critical applications. Additionally, they help organizations to meet PCI DSS, HIPAA, SOX, NERC CIP, FISMA, and other regulatory compliances.

Hosted deployment mode is expected to be the fastest-growing deployment mode in the security assessment market

In the security assessment market, the hosted deployment mode is expected to be the fastest-growing segment, as it offers organizations with increased scalability, speed, round the clock services, and improved management capabilities. Additionally, such hosted or cloud-based security assessment services are available in accordance with the customer’s demand, wherein enterprises can start, stop or modify any service, as per their requirement.

North America is estimated to hold the largest market size in the security assessment market in 2017

North America is expected to have the largest market size in the security assessment market, due to the presence of a large number of security assessment service providers and the early adoption trends in the developed countries in the region. Asia Pacific (APAC) is expected to be the fastest-growing region during the forecast period, owing to factors such as growing need to protect critical applications and data in organization, and upcoming stringent regulatory compliances. Furthermore, the market in developing regions, such as the Middle East and Africa (MEA) and Latin America is expected to grow due to the increasing adoption of enterprise mobility and cloud computing, technological proliferation across banking and retail sectors, along with regulatory compliances.

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Major vendors in the security assessment market include Kaspersky (Russia), IBM (US), FireEye (US), Optiv Security (US), Qualys (US), Trustwave (US), Veracode (US), Check Point (Israel), Absolute Software (Canada), Rapid7 (US), Cynergistek (US), and Positive Technologies (UK).

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Security Assessment Market extrapolated to gain $4.03 Billion by 2022