Global Security Testing Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Security Testing Market: Overview
“The global Security Testing Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Security testing is used to verifying confidentiality, authority, integrity, authentication, availability, and non-repudiation of critical information present in a system. It identifies security gaps in system and to ensure whether IT infrastructure components such as devices, applications, servers, and networks are secure. Application security testing, network security testing, and device security testing are some major types of security testing.
Global Security Testing Market: Dynamics
Increasing need for protection of valuable assets such as web & mobile applications and government mandates, norms, and regulatory compliances in application development are major factors expected to drive growth of the global market over the forecast period.
In addition, rising development of web-based, mobile-based, and desktop-based applications and their deployment across various industries are some other factors expected to further fuel growth of the target market over the forecast period.
Moreover, increasing rate of security threats resulting in rising adoption of advanced security testing system in various industry verticals is another factor expected to boost growth of the target market over the forecast period.
Furthermore, stringent government and federal regulations are expected support growth of the global market to a certain extent.
However, limited domain-specific tools, lack of awareness of security testing and high deployment and maintenance costs are some major factors expected to restrain growth of the target market over the forecast period.
Ongoing trend observed in the target market is rising adoption of bring your own device (BYOD) and Internet of Things (IoT) among individuals is expected to further support growth of the target market to a certain extent.
Increasing demand for connected devices owing to IoT and BYOD trends and rising focus towards digitization are some factors expected to create potential revenue opportunities for players operating in the target market over the forecast period.
Global Security Testing Market: Segment Analysis
Among the type segments, the application security testing segment is expected to register significant growth in the target market, owing to increasing used of application security testing solutions to secure web and mobile applications.
Among the tool segments, the web penetration testing tools segment is expected to register largest market share in the target market, owing to increasing number of attacks on critical software and hardware applications of the organizations.
Among the end use segments, the BFSI segment is expected to register highest CAGR over the forecast period, owing to rising adoption of web and mobile-based business applications in order to avoid advanced cyber threats in BFSI industry.
Among the deployment mode segments, the cloud-based security testing solutions segment is expected to register significant growth over the forecast period, owing to its cost-effective and time-efficient features.
Global Security Testing Market: Regional Analysis
The market in North America is expected to dominate in the global security testing market over the forecast period, owing to rising technological advancements and early adoption of security testing across various countries in this region.
The market in Asia Pacific is expected to register significant growth in terms of CAGR over the forecast period, owing to rising adoption of web-and mobile-based applications, technological advancements in various industry verticals, especially in India and China in this region.
Global Security Testing Market Segmentation:
Segmentation by type:
- Application Security Testing
- Network Security Testing
- Device Security Testing
Segmentation by tool:
- Web Testing tools
- Penetration Testing tools
- Automated Testing tools
- Code Review tools
Segmentation by deployment mode:
Segmentation by end-user:
- Telecom & IT
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Cisco Systems, Inc.
- Hewlett Packard Enterprise
- IBM Corporation
- Qualys, Inc.
- WhiteHat Security, Inc.
- Applause App Quality, Inc.
- Veracode, Inc.
- Checkmarx Inc.
- UL LLC
- Intertek Group plc.
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