Product Security & IT Security Assessment Market is analysed to be $150 billion in 2019, and is estimated to grow at a CAGR of 7.8% during the forecast period 2020 to 2025. As stated by INTERPOL, in 2019 annual report, cybercrime is the fasted growing crime in the world. 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 security and IT security assessment.

Key Takeaways

North America has dominated the market share in 2019, 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 2019 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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Geography - Segment Analysis

North America is analysed to be the dominant region in 2019, 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, US is estimated to account for more than half of all data breaches globally by 2023.

Drivers – Product Security & IT Security Assessment market 

Increasing Cyber-attacks and threats

The increasing cyber-attacks and threats are certainly impacting on the high adoption rate of these solutions. 

Increasing Trend of BYOD:

The trend of Bring your own device is certainly increasing as the increasing encouragement from the small and medium scale enterprises to utilize their own devices to access the enterprise data. Hence with the rising adoption of this trend the vulnerability of facing cyber threats is high, thereby significantly impacting the high adoption of the product security and IT assessment, and contributing to the market growth rate.

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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