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Business Assurance Market is Estimated to Witness High Growth Owing to High Adoption Across Industries
The business assurance market enables organizations to minimize risks, meet compliance requirements, and ensure security, business continuity, and quality of services and products. Business assurance services such as auditing and compliance, risk management, consulting, and certification help organizations strengthen corporate governance and meet both internal as well as regulatory compliance needs.
The Global Business Assurance Market is estimated to be valued at US$ 185.56 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the business assurance market are Atkins Global, Baker Engineering and Risk Consultants, Inc., Ciena Corporation, AssuringBusiness, Cognizant, Stress Engineering Services, Inc., INFOSYS, Cyber Risk Assurance, Equinox Information Systems, HCL Technologies, aeSolutions, Tata Consultancy Services Ltd., LexisNexis, NETSCOUT Systems Inc., Prolifics Inc., and Tenea Technologies and Others. The key opportunities in the business assurance market include increasing demand from small and medium enterprises for cost-effective services and emergence of advanced technologies such as AI, machine learning and blockchain. These technologies can streamline business assurance processes and provide real-time insights. The growing need for compliance with stringent regulations and standards across industries is driving demand for global business assurance services. Key players are expanding their portfolios and capabilities to capitalize on growth opportunities across emerging markets such as Asia Pacific and Middle East & Africa. Market drivers The high adoption of Business Assurance Market Growth services across industries such as BFSI, healthcare, energy & utilities, manufacturing, retail, and telecommunications is a key driver for the market. Business assurance provides organizations the means to ensure operational excellence, mitigate risks, strengthen governance and boost investor confidence. The increasing instances of cyber-attacks, data breaches and stringent compliance mandates are compelling companies to invest more in business assurance solutions to safeguard their operations and reputation. Continuous technological advancements in the space are also supporting the growth of the business assurance market. Fastest Growing Region Asia Pacific region is projected to register the highest growth during the forecast period on account expanding operations of multinational corporations and growing needs of domestic firms to strengthen governance, risk management and compliance procedures. Furthermore, ongoing digital transformation initiatives across industries in developing Asian countries like India and China are adding to the demand for business assurance solutions that can evaluate associated risks.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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Technology News
Technology News Deloitte Risk and Financial Advisory announced the acquisition of the cutting edge network insurance business (aeCyberSolutions), S.C.- based Applied Engineering Solutions, Inc. (aeSolutions). The course of action will uphold Deloitte's present online assurance commitments with the aeCyberSolutions business' particularly attempted constructions, techniques and advancement engaged instruments for mechanical control systems/utilitarian development (ICS/OT) security. The plan will similarly bring aeCyberSolutions' specialists, who have significant inclusion with mechanical region rules improvement and risk cautioning organizations. The extra associations which consolidates its planning claim to fame unit were not piece of the trade. Visit on varindia site to know more about it https://www.varindia.com/
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ISS Source (31/03/2021)
Water Plant Modernizes, Secures Assets
“Unsophisticated attacks, like what appears to have taken place in Oldsmar, are easily prevented by following industry standards and best practices such as ISA/IEC 62443 or NIST 800-82,” said John Cusimano, vice president of industrial cybersecurity at aeSolutions during the Oldmar incident. “We always recommend starting with a vulnerability and risk assessment to understand the vulnerabilities that present the highest operational risk to the organization and then follow that by preparing a mitigation plan that is prioritized by risk.”
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BUSINESS ASSURANCE MARKET ANALYSIS
Business Assurance Market Report, By Type (engineering modeling, analysis, design and investigation, risk management, compliance management, safety and environment management, cybersecurity, and training), By Component (Software and Services), By Deployment Type (On-Premises and Cloud-based), By Vertical (upstream, midstream, downstream, transport and logistics, engineering, procurement and construction (EPC), life sciences, power & utilities, industrial manufacturing, and government), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Trends, and Forecast 2019 - 2027
Business assurance allows organizations to address various challenges including risk management, compliance maintenance, and effective governance of the organization among others. Business assurance incorporates a suite of dedicated software applications that interact to provide automatic monitoring of controls across the enterprise, and consistent monitoring of crucial indicators that offer the management personnel an overview of all key functions. Various applications of business assurance services include risk management, audit management, compliance management, e-Learning, contract management, business continuity management, and corporate legal management among others.
Market Drivers: Growing Adoption of Business Assurance to Increase Confidence and Improve Efficiency of Business Processes
Growing adoption of business assurance to increase confidence and improve efficiency within business processes is driving growth of the global business assurance market. Business risk assurance services help companies to perform business with confidence by identifying, measuring, and managing risk effectively. Business assurance software and business assurance services support companies in governance, compliance, and risk management. Business assurance or risk management is an integral part of major companies such as Schlumberger Limited and Siemens AG, which helps them to manage their business, protect value, and improve performance. These services help to build a complete understanding of risk that can enhance the company’s ability to achieve its business goals, help to make business processes more reliable by taking a practical approach to risk, and enhance the company’s reputation through more reliable and transparent corporation communication. Therefore, business assurance services and software boost the performance, processes, and communication within companies.
Key features of the study:
This report provides an in-depth analysis of the business assurance market size (US$ Mn), and compound annual growth rate (CAGR %) for the forecast period (2019– 2027), considering 2017 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by leading players
It profiles leading players in the global business assurance market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, strategies, and future plans
Companies covered as part of this study include Atkins Global, Baker Engineering and Risk Consultants, Inc., Ciena Corporation, AssuringBusiness, Cognizant, Stress Engineering Services, Inc., INFOSYS, Cyber Risk Assurance, Equinox Information Systems, HCL Technologies, aeSolutions, Tata Consultancy Services Ltd., LexisNexis, NETSCOUT Systems Inc., Prolifics Inc., and Tenea Technologies.
Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding their future product launches, product upgrades, market expansion, and marketing tactics
The global business assurance industry report caters to various stakeholders in the industry, including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision making through various strategy matrices used in analyzing the global business assurance market
Detailed Segmentation:
Natural Hazards Risk Management
Explosion and Thermal Hazards
Facility Siting
Security Vulnerability
Major Incident Investigation
Qualitative Risk Analysis
Security Risk Management
Enterprise Risk Management
Process Safety Management
Regulatory Compliance
Process Hazard Analysis
Health, Safety and Environmental (HSE) Compliance
Emergency Management
Human Factors Engineering
Hazard Identification
Safety Culture
Operational Technology (OT)
Information Technology (IT)
Managed Services
Training Services
Consulting Services
Engineering Analysis Services
On-Premises
Cloud-based
Offshore E&P
Onshore E&P
Pipelines
LNG (Liquefied Natural Gas) Liquefaction
NGL (Natural Gas Liquids) Processing
Oil Refineries
Petrochemical Plants
Chemicals
Ports & Terminals
Marine Transport (Shipping)
Rail
Trucking
Biotechnology
Pharmaceuticals
Natural Hazards Risk Management
Explosion and Thermal Hazards
Facility Siting
Security Vulnerability
Major Incident Investigation
Qualitative Risk Analysis
Security Risk Management
Enterprise Risk Management
Process Safety Management
Regulatory Compliance
Process Hazard Analysis
Health, Safety and Environmental (HSE) Compliance
Emergency Management
Human Factors Engineering
Hazard Identification
Safety Culture
Operational Technology (OT)
Information Technology (IT)
Managed Services
Training Services
Consulting Services
Engineering Analysis Services
On-Premises
Cloud-based
Offshore E&P
Onshore E&P
Pipelines
LNG (Liquefied Natural Gas) Liquefaction
NGL (Natural Gas Liquids) Processing
Oil Refineries
Petrochemical Plants
Chemicals
Ports & Terminals
Marine Transport (Shipping)
Rail
Trucking
Biotechnology
Pharmaceuticals
U.S.
Canada
Natural Hazards Risk Management
Explosion and Thermal Hazards
Facility Siting
Security Vulnerability
Major Incident Investigation
Qualitative Risk Analysis
Security Risk Management
Enterprise Risk Management
Process Safety Management
Regulatory Compliance
Process Hazard Analysis
Health, Safety and Environmental (HSE) Compliance
Emergency Management
Human Factors Engineering
Hazard Identification
Safety Culture
Operational Technology (OT)
Information Technology (IT)
Managed Services
Training Services
Consulting Services
Engineering Analysis Services
On-Premises
Cloud-based
Offshore E&P
Onshore E&P
Pipelines
LNG (Liquefied Natural Gas) Liquefaction
NGL (Natural Gas Liquids) Processing
Oil Refineries
Petrochemical Plants
Chemicals
Ports & Terminals
Marine Transport (Shipping)
Rail
Trucking
Biotechnology
Pharmaceuticals
Germany
Italy
France
Spain
U.K.
Rest of Europe
Natural Hazards Risk Management
Explosion and Thermal Hazards
Facility Siting
Security Vulnerability
Major Incident Investigation
Qualitative Risk Analysis
Security Risk Management
Enterprise Risk Management
Process Safety Management
Regulatory Compliance
Process Hazard Analysis
Health, Safety and Environmental (HSE) Compliance
Emergency Management
Human Factors Engineering
Hazard Identification
Safety Culture
Operational Technology (OT)
Information Technology (IT)
Managed Services
Training Services
Consulting Services
Engineering Analysis Services
On-Premises
Cloud-based
Offshore E&P
Onshore E&P
Pipelines
LNG (Liquefied Natural Gas) Liquefaction
NGL (Natural Gas Liquids) Processing
Oil Refineries
Petrochemical Plants
Chemicals
Ports & Terminals
Marine Transport (Shipping)
Rail
Trucking
Biotechnology
Pharmaceuticals
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Natural Hazards Risk Management
Explosion and Thermal Hazards
Facility Siting
Security Vulnerability
Major Incident Investigation
Qualitative Risk Analysis
Security Risk Management
Enterprise Risk Management
Process Safety Management
Regulatory Compliance
Process Hazard Analysis
Health, Safety and Environmental (HSE) Compliance
Emergency Management
Human Factors Engineering
Hazard Identification
Safety Culture
Operational Technology (OT)
Information Technology (IT)
Managed Services
Training Services
Consulting Services
Engineering Analysis Services
On-Premises
Cloud-based
Offshore E&P
Onshore E&P
Pipelines
LNG (Liquefied Natural Gas) Liquefaction
NGL (Natural Gas Liquids) Processing
Oil Refineries
Petrochemical Plants
Chemicals
Ports & Terminals
Marine Transport (Shipping)
Rail
Trucking
Biotechnology
Pharmaceuticals
Brazil
Mexico
Argentina
Rest of Latin America
Natural Hazards Risk Management
Explosion and Thermal Hazards
Facility Siting
Security Vulnerability
Major Incident Investigation
Qualitative Risk Analysis
Security Risk Management
Enterprise Risk Management
Process Safety Management
Regulatory Compliance
Process Hazard Analysis
Health, Safety and Environmental (HSE) Compliance
Emergency Management
Human Factors Engineering
Hazard Identification
Safety Culture
Operational Technology (OT)
Information Technology (IT)
Managed Services
Training Services
Consulting Services
Engineering Analysis Services
On-Premises
Cloud-based
Offshore E&P
Onshore E&P
Pipelines
LNG (Liquefied Natural Gas) Liquefaction
NGL (Natural Gas Liquids) Processing
Oil Refineries
Petrochemical Plants
Chemicals
Ports & Terminals
Marine Transport (Shipping)
Rail
Trucking
Biotechnology
Pharmaceuticals
GCC Country
South Africa
Rest of the Middle East & Africa
Company Highlights
Key Developments
Product Portfolio
Market Presence
Strategic Presence
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Business Assurance Market To Surpass US$ 227.5 Billion By 2027 - Coherent Market Insights
Worldwide business confirmation market was esteemed at US$ 108,500.2 Mn in 2017, and is required to display a CAGR of 8.4% over the figure time frame to reach US$ 227,564.6 Mn in 2027. Europe represented 33.32% income share in the worldwide business confirmation market in 2018. The market in India is required to develop at a critical rate over the conjecture time frame, trailed by China. This development is ascribed to the developing modern segment in Asia Pacific.
The Asia Pacific market is seeing high development because of expanding interest for business affirmation administrations over the quickly extending mechanical segment. The Latin America section is required to develop at a CAGR of 9.2% during the figure time frame (2019-2027). In Latin America, agribusiness and mining are the predominant parts, and business chance affirmation assumes a significant job in these segments. The mining business requires the fuse of sound hazard and affirmation measures, successful administration, legitimate and administrative consistence, and compelling partner the board. In the mining business, reconciliation of exhaustive hazard confirmation rehearses gives the certainty to associations to perform enough under basic conditions, or in an unstable financial condition. Thus, predominance of the mining division in Latin America is relied upon to encourage development of the business chance affirmation market in the area. For example, as indicated by Council on Hemispheric Affairs (COHA), in 2013, 29% of all worldwide mining ventures were embraced in Latin America.
Figure. Worldwide Business Assurance Market Share (%), by Region, 2017
Source: Coherent Market Insights, 2018-19
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The administration section is relied upon to reach US$ 38,744.73 Mn by 2027, at a development pace of 7.3% all through the gauge time frame. Hazard is the impact of vulnerability on destinations, and is an intrinsic piece of all administration exercises. Powerful hazard the board lessens vulnerability by recognizing, organizing, and moderating dangers. Governments are centered around embracing hazard the executives answers for recognize, evaluate, and organize dangers in public basic capacities. Besides, the legislature of British Columbia embraced the globally perceived ISO 31000 Risk Management standard, and incorporating hazard measure into administrative practice.
On-Premises portion by sending type held the predominant situation in the Business Assurance Market in 2017
Based on arrangement type, the worldwide business affirmation market is fragmented into 'on-premises' and 'cloud-based'. The on-premises portion represented the biggest piece of the overall industry of around 59.9% in 2018. On-premise business confirmation programming frameworks run on a nearby PC (or worker) with a database which is commonly situated on the site, and can be gotten to from PCs in the workplace. In this way, the venture is liable for keeping up and dealing with measures identified with on-premise administrations. Thus, sufficient number of IT experts are required for usage, upkeep, and backing of business affirmation devices. On-premise programming frameworks include enormous starting ventures, and high permitting cost for workers. Besides, these frameworks require high force, equipment, stockpiling gadgets, and establishment destinations. On-premise programming frameworks can protect an application from potential security dangers, for example, outside and inward assaults, just as different issues inside the application.
Read More - https://www.coherentmarketinsights.com/press-release/business-assurance-market-to-surpass-us-2275-billion-by-2027-1592
The cybersecurity fragment is relied upon to reach US$ 13,981.33 Mn by 2027, with a CAGR of 8.3% over the conjecture time frame. The cybersecurity fragment comprises of operational innovation (OT) and data innovation (IT). Digital security the executives frameworks give assurance from digital assaults. Cycle control PC and assembling frameworks are basically associated with big business systems, which are straightforwardly associated with the web. Consequently, through these web associations, aggressors can enter and hurt the frameworks. Control of cycle PC control frameworks by digital assaults brings about a negative business condition. The digital security section is required to observe noteworthy development attributable to increment in loss of data, and information robbery, just as usage of cutting edge digital hazard confirmation arrangements, so as to forestall digital security penetrates.
Be that as it may, deficient cybersecurity aptitudes inside the workforce may hamper development of the business chance affirmation market. Cybersecurity administrations are one of the quickest developing portions in business chance confirmation market. Subsequently, suppliers of cybersecurity administrations need a workforce with adequate digital security aptitudes. Many control engineers falter to become digital security specialists, and IT experts capable in cybersecurity aptitudes are being consumed by governments and the military. Also, cybersecurity incorporates encryption, which is a cycle of encoding data so that it can't be translated by outer assailants. Encryption is a fundamental cycle regarding information security, be that as it may, it tends to be a difficult expertise for the workforce. Besides, encryption is additionally utilized for ensuring information on the way, for instance, when information is being moved by means of systems (Internet or web based business), remote receivers, radios, and cell phones, which expands the danger of vital data getting spilled, and represents a danger to the organization's security.
Worldwide Business Assurance Market: Key Players
Significant players working in the worldwide business confirmation industry incorporate Atkins Global, Baker Engineering and Risk Consultants, Inc., Ciena Corporation, AssuringBusiness, Cognizant, Stress Engineering Services, Inc., INFOSYS, Cyber Risk Assurance, Equinox Information Systems, HCL Technologies, aeSolutions, Tata Consultancy Services Ltd., LexisNexis, NETSCOUT Systems Inc., Prolifics Inc., and Tenea Technologies.
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Хороший прикладной доклад с прошедшего недавнего SANS ICS Security Summit о влиянии типовых ошибок в конфигурации сетевых коммутаторов на надежность и безопасность технологических систем, примеры ошибок и советы как их избежать / Steve Stock, aeSolutions, How Common Network Misconfigurations Impact ICS Reliability and Security https://www.sans.org/cyber-security-summit/archives/file/summit_archive_1553007190.pdf
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