The Global Cyber Security Audit Market size is projected to grow at a CAGR of 8.8% during the forecast period from 2021-2028. The major factors driving growth in this market are the increasing need for compliance with regulatory standards, the growing adoption of cloud computing services, and data breaches. North America is expected to account for the largest share of the global market by 2028 due to rapidly evolving technology and rising awareness about cybersecurity among people in this region.
Cybersecurity audits are carried out to assess the risks associated with an organization's network, applications, and devices. These assessments may be done periodically or before key events like M&A activity (mergers & acquisitions) and IPOs (initial public offerings). The goal of a cybersecurity audit is to identify vulnerabilities that could allow unauthorized access to the company’s IT systems. Cyber Security Audits can also help organizations in complying with regulations such as GDPR.
On the basis of Types, the market is segmented into System-Level Audit, Application Level Audit, and User Level Audit.
A system-level audit is an assessment of the entire IT infrastructure. This includes examining firewall configuration, vulnerability management, access control, and device integrity. The purpose of this type of audit is to determine whether or not a company's information systems meet generally accepted security standards.
Application-level audits are assessments that take place on specific applications such as web servers, databases, and email servers in order to identify vulnerabilities related to these components specifically. These types of audits usually involve the attempt to exploit known vulnerabilities associated with those particular programs in order to see if any exist within the audited organization’s network environment. User Level Audits -User level audits provide a way for organizations to access sensitive data from remote locations to have their own security assessments. This type of audit is usually performed by an external third party which often includes a review of the remote user’s computer, software, and network environment prior to granting access.
User Level Audits provide a way for organizations to access sensitive data from remote locations. This type of audit is usually performed by an external third party and often includes a review of the remote user’s computer, software, and network environment prior to granting access. For example, if you have ever used your password manager or bank's website on public Wi-Fi networks, then it was likely that you were subject to an auditing process in order to log into their servers with your credentials. These types of audits are typically conducted remotely which can be done without needing physical contact with any devices within the organization being accessed.
On the basis of Application, the market is segmented into Risk Assessment, Test System, Intrusion or Vulnerability Found and Other.
Risk assessment is a form of audit that involves assessing the degree to which an individual, organization, or system is vulnerable. One type of risk assessment would be assessing data privacy compliance when conducting audits on a given company's information security practices. Risk assessments are important steps in order to avoid possible risks and vulnerabilities present within any given situation/environment. It typically consists of three parts: identification, analysis, and evaluation.
Cyber Security Audits are becoming an integral part of the testing process for many companies. The use of Cyber Security Audit has been implemented in various test systems including vulnerability assessment, intrusion and penetration tests as well as other types of checks such as compliance audits.
The use of a Cyber Security audit in intrusion or vulnerability found is a process that helps identify the root cause and exploitability level. The cybersecurity audits help find vulnerabilities like SQL injection, buffer overflow, etc., which are usually caused by human errors such as programming errors, logic bugs, etc.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
North America accounted for the highest share of the global Cyber Security audit market in 2018. The U.S., Canada, and Mexico are some major countries in this region that offer a huge potential to the growth of cybersecurity audits due to increased investment in research & development activities regarding cybersecurity solutions.
Latin America is projected to grow at an impressive CAGR during 2021-2028 owing to the increasing adoption of eCommerce platforms which leads to high-risk exposure for organizations as well as the implementation of digital technologies such as IoT (Internet of Things) devices which create new vulnerabilities on IT systems.
Europe has been forecasted with around USD 12 million revenues from 2020 till 2028 due to its higher demand towards sophisticated level services like information technology outsourcing service offerings aimed at mitigating risks from cyber-attacks.
Asia Pacific is estimated to grow at a CAGR of more than USD 20 million from 2021 till the end of the forecast period.
The Middle East & Africa are expected to experience explosive growth during the forecasted years owing mainly to the increasing adoption of digital technologies like IoT devices which lead organizations into a higher risk exposure.
The growth can mainly be attributed to economic factors such as increasing government regulations for data privacy and rising demand in developing economies due to their high dependence on electronic transactions which are prone to cyber-attacks. The increasing number of data breach cases has led organizations to re-evaluate their cybersecurity policies and invest in audit systems to monitor threats. As a result, this is driving demand for cybersecurity audits which will be used to detect vulnerabilities before hackers exploit them. Also, technological advancements leading to more complex cyberattacks are expected to fuel growth during the forecast period.
Up Market Research published a new report titled “Cyber Security Audit Market research report which is segmented by Types (System Level Audit, Application Level Audit, User Level Audit), By Applications (Risk Assessment, Test System, Intrusion or Vulnerability Found, Other), By Players/Companies FM Global, Datadog, Galvanize, Mandiant, Cyber​​SecOp, Isystems, Wolf and Company, Topsec, Venustech”.
Report Attributes | Report Details |
Report Title | Cyber Security Audit Market Research Report |
By Type | System Level Audit, Application Level Audit, User Level Audit |
By Application | Risk Assessment, Test System, Intrusion or Vulnerability Found, Other |
By Companies | FM Global, Datadog, Galvanize, Mandiant, Cyber​​SecOp, Isystems, Wolf and Company, Topsec, Venustech |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 222 |
Number of Tables & Figures | 156 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type System Level Audit, Application Level Audit, User Level Audit and By Application Risk Assessment, Test System, Intrusion or Vulnerability Found, Other.
Some of the companies that are profiled in this report are:
Cyber Security Audit Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Cyber Security Audit Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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