Global Security Assessment Market Size By Security Type (Endpoint, Network, Application, Cloud), By Assessment Type (Vulnerability, Risk, Threat, Penetration Testing, Security Program), By Deployment (On-Premises, Hosted), By End-use Industry (Banking, Financial Services, & Insurance (BFSI), IT & Telecom, Government & Defense, Energy & Utilities, Manufacturing, Healthcare, Retail), By Geographic Scope And Forecast

Security Assessment Market Size And Forecast

Security Assessment Market size was valued at USD 4.54 Billion in 2024 and is projected to reach USD 27.07 Billion by 2031, growing at a CAGR of 25% from 2024 to 2031.

• Security assessment is the methodical evaluation of an organization’s information systems, networks, and applications to discover vulnerabilities and flaws that could be exploited by cyber attackers.
• This evaluation consists of three major steps: finding vulnerabilities, mitigating or resolving such vulnerabilities, and assessing the effectiveness of the applied solutions. Organizations that undertake security assessments can build concrete plans to improve their security posture, prioritize investments in security measures, and maintain compliance with applicable requirements.
• Furthermore, security assessments are used for a variety of purposes, including penetration testing, vulnerability assessments, risk assessments, and compliance evaluations, all of which assist organizations to protect sensitive data, improve their security frameworks, and reduce cyberattack risk.

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Global Security Assessment Market Dynamics

The key market dynamics that are shaping the security assessment market include:

Key Market Drivers

• Increasing Frequency and Sophistication of Cyberattacks: The increasing frequency and complexity of cyberattacks are prompting firms to engage in security evaluations. According to the FBI’s Internet Crime Complaint Center (IC3) 2023 Annual Report, the number of recorded cybercrimes rose by 7% between 2022 and 2023, with total damages topping USD 10.2 Billion. The research also identified a 15% increase in sophisticated threats such as ransomware and business email hacking. The growing threat landscape necessitates more frequent and extensive security reviews.
• Stringent Data Protection Regulations and Compliance Requirements: The global implementation of stronger data protection rules is driving up demand for security assessments. According to the European Union Agency for Cybersecurity (ENISA), the number of firms conducting regular security assessments increased by 63% between 2018 and 2023 after GDPR went into effect. From 2020 to 2023, the adoption of the National Institute of Standards and Technology’s (NIST) Cybersecurity Framework for security assessments increased by 40% in the United States.
• Rapid Digital Transformation and Cloud Adoption: The rapid pace of digital transformation and cloud migration is posing new security concerns, necessitating the need for security assessments. According to Gartner, global public cloud investment will increase by 23% in 2023, hitting USD 332.3 Billion. According to the Cloud Security Alliance (CSA), the rapid expansion in cloud adoption resulted in a 35% increase in cloud-specific security assessments between 2021 and 2023. The CSA also reported that 72% of firms now include cloud infrastructure in their routine security assessments, up from 54% in 2020.

Key Challenges:

• High Implementation Costs: The high implementation costs associated with advanced security measures are a key barrier to growth in the security assessment market. Organizations, particularly small and medium-sized enterprises (SMEs), find the initial investment in thorough security assessments and the required equipment prohibitively expensive. This financial burden prevents companies from conducting critical security assessments, limiting market expansion and accessibility for smaller industry players.
• Complexity and Integration Problems: The challenge of integrating security assessment technologies into existing IT infrastructures further limits market expansion. When implementing new security solutions, organizations confront compatibility concerns as well as operational challenges. This difficulty in seamless integration causes delays, increased expenses, and employee opposition, reducing the overall efficacy and adoption of security evaluations across multiple sectors.

Key Trends:

• Growing Demand for Cloud-Based Solutions: Organizations prefer cloud installations because of their flexibility, scalability, and lower capital expenditure. This trend enables organizations, particularly small and medium-sized enterprises, to access advanced security assessment tools without the need for significant hardware and software investments, allowing them to improve their cybersecurity posture more efficiently.
• Rising Cyber Threats and Regulatory Compliance: The increasing frequency and sophistication of cyber threats are prompting enterprises to prioritize security evaluations. As businesses confront increased dangers from malware, phishing, and other assaults, they must routinely assess their security protocols. Furthermore, strict regulatory requirements, such as GDPR and HIPAA, necessitate continual compliance audits, which drives up demand for security assessment services across businesses.

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Global Security Assessment Market Regional Analysis

Here is a more detailed regional analysis of the security assessment market:

North America:

• According to Verified Market Research, North America is estimated to dominate the security assessment market during the forecast period. North America, particularly the United States, is home to numerous significant corporations and vital infrastructure facilities, which drives the demand for comprehensive security assessments. According to the US Department of Homeland Security, the country has 16 key infrastructure sectors. The Cybersecurity and Infrastructure Security Agency (CISA) predicted that 78% of these critical infrastructure firms conducted regular security assessments in 2023, up from 65% in 2020. This increased emphasis on security in vital industries contributes greatly to the region’s leadership in the security assessment market.
• Furthermore, North America’s regulatory structure is complicated, requiring regular security reviews across multiple businesses. The U.S. Securities and Exchange Commission (SEC) claimed that compliance-driven security evaluations grew by 35% between 2021 and 2023 following the implementation of new cybersecurity disclosure requirements. Additionally, the National Institute of Standards and Technology (NIST) noted a 42% increase in organizations adopting its Cybersecurity Framework for security assessments from 2020 to 2023, highlighting the impact of regulatory pressures on market growth.

Europe:

• Europe region is estimated to exhibit substantial growth within the market during the forecast period. Europe’s strong data protection rules, particularly the General Data Protection Regulation (GDPR), are driving up demand for security assessments. According to the European Data Protection Board (EDPB), GDPR fines jumped by 40% in 2023 compared to 2022, reaching €2.92 billion. According to a survey conducted by the European Union Agency for Cybersecurity (ENISA), 78% of European firms will increase the frequency of security assessments in 2023 to ensure GDPR compliance, up from 62% in 2021. This legislative pressure has a substantial impact on the security assessment business in Europe.
• Furthermore, Europe has seen an increase in cyber-attacks, pushing businesses to invest more in security assessments. Europol’s Internet Organised Crime Threat Assessment (IOCTA) 2023 report shows a 35% increase in reported cybercrime events across EU member states from 2021 to 2023. The European Central Bank reported that 54% of European financial institutions experienced at least one successful cyber-attack in 2023, up from 43% in 2021. This escalating threat landscape is driving the growth of the security assessment market in the region.

Asia Pacific:

• The Asia Pacific region is estimated to exhibit the highest growth within the market during the forecast period. The Asia Pacific region is undergoing rapid digital change, resulting in an increase in cyber risks and a greater demand for security assessments. The Asia Pacific Computer Emergency Response Team (APCERT) reported a 47% rise in cyber-attacks from 2021 to 2023. The International Data Corporation (IDC) expects that by 2025, 60% of Asia Pacific firms will prioritize digital resilience investments to ensure business continuity, up from 35% in 2022. This digital revolution is increasing the requirement for comprehensive security evaluations in the region.
• Furthermore, governments around the Asia Pacific are enacting stronger cybersecurity legislation, mandating more frequent and comprehensive security evaluations. The Asia Pacific Economic Cooperation (APEC) revealed that 12 of 21 member economies introduced new or revised cybersecurity laws between 2020 and 2023. A survey by the Asia Cloud Computing Association found that 68% of businesses in the region increased their security assessment budgets in 2023 to comply with these new regulations, with an average budget increase of 31% compared to 2021.

Global Security Assessment Market: Segmentation Analysis

The Security Assessment Market is segmented based on Security Type, Assessment Type, Deployment, End-use Industry, and Geography.

Security Assessment Market, By Security Type

• Endpoint Security
• Network Security
• Application Security
• Cloud Security
• Others

Based on Security Type, the market is segmented into Endpoint Security, Network Security, Application Security, Cloud Security, and Others. The network security segment is estimated to dominate the security assessment market due to the growing frequency and sophistication of cyber threats attacking organizational networks, necessitating strong safeguards. Companies prioritize network security audits to discover vulnerabilities and maintain regulatory compliance. As enterprises continue to spend to protect their network infrastructures, demand for thorough network security assessments is projected to stay high, fueling ongoing expansion in this segment.

Security Assessment Market, By Assessment Type

• Vulnerability Assessment
• Risk Assessment
• Threat Assessment
• Penetration Testing Services
• Security Program Assessment
• Others

Based on Assessment Type, the market is segmented into Vulnerability Assessment, Risk Assessment, Threat Assessment, Penetration Testing Services, Security Program Assessment, and Others. The vulnerability assessment segment is estimated to dominate the security assessment market during the forecast period due to its vital role in detecting and correcting security flaws in an organization’s systems, networks, and applications. As cyber threats grow, organizations are prioritizing vulnerability assessments to proactively minimize risks and improve their security posture. This tendency is bolstered by increased regulatory obligations, which require regular vulnerability assessments to maintain compliance and secure sensitive information.

Security Assessment Market, By Deployment

• On-Premises
• Hosted

Based on Deployment, the market is segmented into On-Premises and Hosted. The on-premises segment is estimated to dominate the security assessment market due to enterprises’ desire to preserve control over their security infrastructure and data. On-premises solutions enable customized security measures that meet unique corporate objectives and compliance constraints. Furthermore, firms that handle sensitive information frequently prefer on-premises examinations to reduce the risks associated with data breaches, demonstrating their commitment to strong security standards.

Security Assessment Market, By End-User Industry

• Banking, Financial Services, and Insurance (BFSI)
• IT and Telecom
• Government and Defense
• Energy and Utilities
• Manufacturing
• Healthcare
• Retail
• Others

Based on the End-User Industry, the Security Assessment market is divided into BFSI, IT & Telecom, Government & Defense, Energy & Utilities, Manufacturing, Healthcare, Retail, and Others. The banking, financial services, and insurance (BFSI) segment is estimated to dominate the market over the forecast period due to the sector’s vital need for strong security measures to secure sensitive financial data while also meeting severe regulatory norms. With increased cyber-attacks and data breaches aimed at financial institutions, companies are investing extensively in security assessments to mitigate risks and improve their entire cybersecurity posture, protecting the integrity and confidentiality of their operations.

Security Assessment Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

Based on Geography, the security assessment market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is estimated to dominate the security assessment market during the forecasted period owing to its early adoption of modern cybersecurity technology and strong regulatory frameworks. The region’s increased awareness of cyber dangers requires firms to prioritize security assessments to comply with standards such as HIPAA and PCI-DSS and secure sensitive data from breaches. This proactive strategy, along with a strong cybersecurity infrastructure, generates high demand for a variety of security assessment services, ensuring North America’s market leadership.

Key Players

The “Security Assessment Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are IBM, Qualys, Trustwave, Kaspersky Lab, Trellix (formerly McAfee), Rapid7, Positive Technologies, McAfee, Veracode, Check Point, and CynergisTek.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Security Assessment Market Recent Developments

• In July 2022, The CAC released the final version of the Measures on Security Assessment for Data Export. The Measures outline the circumstances that require security assessments and are reviewed by authorities under the PRC Cybersecurity Law, PRC Data Security Law, and PRC Personal Information Protection Law. They offer practical assistance for security assessment procedures.

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