Press release content from Business Wire. The AP news staff was not involved in its creation.
DUBLIN–(BUSINESS WIRE)–Sep 20, 2021–
The “Security Assessment Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Security Assessment Market is expected to register a CAGR of 12.7% during the forecast period (2021 – 2026).
The rapidly rising cases of cyber-attacks coupled with the need to adhere to stringent compliances and the increased adoption of Internet of Things (IoT) across multiple end-user industries and mobility trends are forcing the organizations across the globe, irrespective of their size to adopt security assessment solutions in order to protect and assess critical business infrastructure.
The Security Assessment Market is highly competitive owing to the presence of multiple vendors in the market providing services to domestic as well as international markets. The market appears to be moderately concentrated with the major players adopting strategies such as product innovation, strategic partnerships, among others in order to stay competitive in the market.
Some of the major players in the market are IBM Corporation, Kaspersky Lab, FireEye, Inc, among others.
Key Market Trends
BFSI Segment is Expected to Witness Significant Growth
- With the rapid rise in banking and online transaction, the risk for fraud and potential exposure of personal information is rising significantly. Mobile and e-banking channels are being increasingly used every day to transfer and perform transactions, which opens doors to cyber criminals trying to compromise a user’s account to extract money.
- Data breaches have led to an exponential rise in the costs and loss of valuable customer information. According to the Data Breach Investigations Report, which was released by Verizon in 2019, 88 percent of all cyber incidents in the financial services and insurance sector were done with financial motivation. Cyber attackers in pursuit of the easiest path possible to financial…