Security Testing Market: Global Market Growth Study, Future Trends, Demands, and Top Players Data by Forecast to 2027
As per Market Research Future (MRFR), The security
testing market had a valuation of USD 3.67 billion in 2017 and is estimated
to reach USD 8.69 billion with a CAGR of 15.72% from 2017 to 2023 (forecast
period). The report discusses and examines the effect of the outbreak of COVID-19
on the global security testing market, including possible opportunities and
threats, drivers, and risks.
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With the increasing adoption of cloud-based
services and automation, the capabilities of industrial and enterprise networks
are increasing. Nevertheless, there are also risks and threats associated with
the security of customer data and web and mobile applications. Security testing
can be considered a form of software testing used to identify system and
network susceptibilities. This is done to assure the security of data and
assets against potential threats. Security testing can be broadly categorized
under four different heads: network security, system software security,
client-side application security, and server-side application security.
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Market Dynamics
The key factors contributing to the security
testing market's growth are the growing need to secure customer data and web
and mobile apps, the increased acceptance of cloud-based security solutions,
and the increasing need for better security due to rising cyber-attacks.
However, a lack of understanding of cybersecurity and increased adoption of
freeware security applications present challenges to market development.
Market Segmentation
The global market for security testing has been
segmented into service type, tool, deployment, and industry vertical.
By service type, the global security testing
market has been segmented into network security testing, application security
testing, and device security testing. Network security testing is further
divided into firewall testing, VPN testing, and IDS/IPS testing. Application
security testing is further divided into web application security testing,
static application security testing, mobile application security testing, cloud
application security testing, and dynamic application security testing.
By tool, the global security testing market has
been segmented into penetration testing tools, web testing tools, automated
testing tools, and others.
By deployment, the global security testing
market has been segmented into cloud and on-premise deployment.
By industry vertical, the global security
testing market has been segmented into government and public sector, BFSI, IT
& telecommunication, healthcare, retail, and others.
Regional Analysis
The geographical analysis of the global
security testing market is studied for North America, Europe, Asia Pacific, and
the rest of the world.
The adoption of security testing solutions and
services is commonly seen in companies as most of them already have access to
automation or cloud services. North America currently dominates the security
testing market, as the region has been known as an early adopter of automation
and cloud services to improve its enterprise networks. As a result, companies
feel the need for security testing as the risk of data theft and privacy
increases. The U.S. and Canada are the dominant countries in North America that
are rising with a spectacular CAGR.
Europe is trailing North America closely in the
security testing industry. The area has highly economically established
countries with a strong role in the information and communication technology
market. Countries like Germany and the United Kingdom dominate the market for
security testing in Europe.
Key Players
The industry giants in the security testing
market are Cisco Systems Inc. (US), Hewlett Packard Enterprise (US), Checkmarx
(Israel), IBM Corporation (US), Qualys Inc. (US), WhiteHat Security (US),
Veracode (US), Applause App Quality Inc. (US), UL LLC (Netherlands), and
Intertek Group PLC (UK). These players contribute a significant proportion to
market growth.
Apart from the industry giants, other players
contribute nearly 30–35 % in the security testing market. These include Valency
Networks Pvt Ltd (India), Infosys Limited (India), Capgemini SE (France), Wipro
Limited (India), Cognizant Technology Solutions Corp (US), Tata Consultancy
Services Limited (India), CloudBees (US), Hexaware Technologies Limited
(India), Zensar Technologies Limited (India), Rohde & Schwarz UK Ltd (Germany),
Beyond Security (US), Symetrics (Netherlands), TraceSecurity (US) and others.
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