[FURL=https://www.industryarc.com/Report/18368/product-security-it-security-assessment-study-research-report-analysis.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Product Security & IT Security Assessment Study Market[/FURL] The market for Product Security & IT Security Assessment is estimated at $155 billion in 2020 and is forecast to grow at a CAGR of 7.0% during the forecast period 2021 to 2026. As stated by INTERPOL, in a 2019 annual report, cybercrime is the fastest growing crime in the world at 9% Year-over-Year. Now, this has made cybersecurity an indispensable need of the hour in businesses, government bodies, and the financial sector. Its deployment has been driven remotely by everything that utilizes data, thereby significantly contributing to the adoption of product and payment card security and IT security assessment. Along with the telecom sector, the aerospace industry is considered to be another key end-users to the security test and managed security services market.Key Takeaways
North America has dominated the market share in 2020, however APAC is analysed to grow at highest rate during the forecast period owing to the adoption of product security & it security assessment due to increasing cyber-attacks.
BFSI sector is analysed to hold highest market share in 2020 owing to the high cyber-attacks reported in the sector.
The increasing trend of bring your down device in various organizations is analysed to be the key driving factor for the market.
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Product Security & IT Security Assessment Market Segment Analysis – By Geography
North America is analysed to be the dominant region in 2020 at 36.5%, followed by APAC and Europe. This is mainly attributed to the high adoption of the advanced technologies and the low-cost sensitivity in the region for product security & IT security assessment in majority of the firms. As stated by Norton, the US is estimated to account for more than half of all data breaches globally by 2023. As stated by the government of India more than 50% of the organizations have encountered a cyber-attack and are affected by them. Therefore the growing need for the deployment of the product security and IT security assessment is analysed to further escalate the market growth rate during the forecast period 2021-2026.
Product Security & IT Security Assessment Market Drivers
Increasing Cyber-attacks and threats
Increasing Trend of BYOD:
Product Security & IT Security Assessment Market Landscape
Product Security & IT Security Assessment driver market is expected to be dominated by major companies such as CA Technologies, Cisco Systems, Fujitsu, Fortinet, Hitachi, HP, IBM, Juniper Networks, McAfee, Microsoft, NEC, Symantec, Trend Micro, and Websense among others.
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