Security assurance market seen tripling by 2031 as cyber risks rise

By AI, Created 4:36 AM UTC, June 04, 2026, /AGP/ – Allied Market Research says the global security assurance market will grow from $5.7 billion in 2021 to $14.8 billion by 2031 as organizations respond to cyberattacks, cloud migration and connected-device risk. BFSI leads the market now, while manufacturing and Asia-Pacific are expected to post strong growth.

Why it matters: - Security assurance is becoming a core spend area as companies face more ransomware, phishing, malware, insider threats and data breaches. - The market’s projected rise to $14.8 billion by 2031 signals steady demand for tools that help protect cloud, mobile and connected environments. - Growth matters most for industries handling sensitive data, financial transactions and regulated workloads.

What happened: - Allied Market Research valued the global security assurance market at $5.7 billion in 2021. - The firm projects the market will reach $14.8 billion by 2031. - The forecast implies a 10.2% CAGR from 2022 to 2031. - The report says rising cybersecurity threats and cloud adoption are the main growth drivers. - Allied Market Research published sample and purchase links for the report, including Download PDF Brochure and Procure This Report.

The details: - Security assurance covers risk identification, assessment, management and mitigation across software, networks, databases, cloud environments and connected systems. - The goal is to help organizations detect vulnerabilities before attackers exploit them. - Common services include security posture reviews, vulnerability assessments, penetration testing, compliance checks and continuous monitoring. - Cloud migration is increasing demand for configuration reviews, compliance audits and monitoring for privacy, identity and access risks. - IoT devices and BYOD policies expand the attack surface because each connected endpoint can become an entry point. - Mobile apps add another layer of risk because they often handle personal and financial data. - Security testing, code analysis, threat modeling and compliance assessments are becoming standard in application development lifecycles. - BFSI held the largest market share in 2021 and is expected to keep that lead through the forecast period. - Manufacturing is expected to grow quickly as Industry 4.0 expands, bringing automation, smart factories, Industrial IoT and AI into production systems. - North America was the largest regional market in 2021. - Asia-Pacific is expected to post the fastest growth, supported by digitalization, internet adoption, cloud services, e-commerce and fintech expansion. - The COVID-19 shift to remote work accelerated cyber risk and pushed more spending on security monitoring and vulnerability assessment. - The market’s competitive landscape includes Accenture, Aura Information Security, Avaya Inc., BizCarta India, Cipher Security LLC, Capgemini, Happiest Minds, IBM, Infosys Ltd., Microsoft Corporation, Micro Focus, NETSCOUT, Radix Technologies, SAS Institute, Spirent Communications, Tenable Inc. and Telos Corporation. - The report also points to strategic collaborations, product innovation and acquisitions as key competitive moves.

Between the lines: - The forecast reflects a broader shift from reactive cybersecurity to continuous assurance across the enterprise stack. - Cloud, mobile and IoT growth are not just creating new business opportunities; they are also multiplying the number of systems that need validation and oversight. - BFSI’s lead shows that sectors with the highest regulatory and financial exposure remain the most consistent buyers. - Manufacturing’s expected growth suggests industrial cybersecurity is moving closer to the top of the spending agenda as operational technology and IT converge.

What’s next: - Security assurance demand is likely to keep rising as organizations expand cloud-native systems, connected devices and mobile-first services. - Asia-Pacific should continue to gain share if digital transformation and fintech growth stay on pace. - Vendors are expected to keep investing in threat intelligence, cloud security and managed security services to compete for enterprise budgets. - More customized research is available through Get a Customized Research Report.

The bottom line: - Security assurance is shifting from a technical safeguard to a mainstream business requirement, and the market is projected to more than double by 2031.