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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By Application:

BFSI is analysed to be the hold highest market share in 2019, followed by the retail sector. The gradual shift of deploying cloud models for data storage in banks is certainly contributing to the increasing adoption of cloud models. However, cloud storage brought additional security concerns for which the banks rely on the hybrid model for data management. While the hybrid model is considered to be safe, the increasing the use of fingerprint and one-time-password based login system, banks are facing many cyber-attacks and threats. 

Drivers – Product Security & IT Security Assessment market 

Increasing Cyber-attacks and threats
Increasing Trend of BYOD

Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Product Security & IT Security Assessment market. 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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