The Global Security Testing Market Predicted to Progress at $22549.15 Million by 2028

February 26 01:05 2021
The Global Security Testing Market Predicted to Progress at $22549.15 Million by 2028

Security Testing Market
As stated in Triton’s research report, in 2020, the global security testing market acquired $5574.66 million, and is evaluated to advance at a CAGR of 24.28% by 2028.

A recent study by Triton Market Research titled ‘Global Security Testing Market’ entails the Global Analysis and Forecasts by End-user (Healthcare, Retail, Manufacturing, IT & Telecom, BFSI, Government, Other End-user Industries), Type (Testing Type [Static Application Security Testing, Interactive Application Security Testing, Dynamic Application Security Testing, Runtime Application Self Protection], Application Security Testing [Mobile Application Security Testing, Web Application Security Testing, Cloud Application Security Testing, Enterprise Application Security Testing], Network Security Testing [Firewall Testing, VPN Testing, Other Service Types]), Testing Tools (Code Review Tool, Penetration Testing Tool, Software Testing Tool, Web Application Testing Tool, Other Testing Tools), Deployment Mode (On-Premise, Cloud), and by Geography (Middle East and Africa, Latin America, North America, Asia-Pacific, Europe).    

Security testing is a software type that helps discover potential risks in systems, resulting in confidential data loss. These security testing solutions are adopted in several end-user industries, including retail and healthcare.

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Triton’s research report denotes that the global market for security testing is assessed to progress at a CAGR of 24.28% in revenue in the years 2021-2028. It is likely to garner revenue worth $22549.15 million by 2028.

Factors such as growth in security threats, government regulations realizing security needs, and rising network attacks are amplifying the growth of the security testing market. The introduction of wireless devices and networks has transformed the functioning of several commercial services. Moreover, numerous companies are connecting their databases to big data centers supporting cloud services. For instance, over the years, multiple banks and financial entities have adopted cloud services to track and process banking transactions. This high reliance on cloud computing and other IT services has led to a rise in cyber terrorism impacting sensitive data, including banking details, of the users.

The lack of testing knowledge and a dearth of skilled cyber security personal are a set of factors negatively affecting the overall development of the security testing market.

The security testing market is broadly divided into end-user, type, testing tools, and deployment mode. The end-user section is subdivided into healthcare, retail, manufacturing, IT & telecom, BFSI, government, and other end-user industries. Based on type, it is segmented into testing type, application security testing, and network security testing. The testing type is further branched into static application security testing, interactive application security testing, dynamic application security testing, and runtime application self protection. Similarly, application security testing is sub-sectioned into mobile application security testing, web application security testing, cloud application security testing, and enterprise application security testing. The network security testing section is categorized into firewall testing, VPN testing, and other service types.  

Furthermore, testing tools are sectioned into code review tool, penetration testing tool, software testing tool, web application testing tool, and other testing tools. Lastly, deployment mode is bifurcated into on-premise and cloud.

Globally, North America is dominating the security testing market. Among the region’s nations, several enterprises are optimizing their compliance programs by leveraging automation, analytics, and testing to improve Canada’s cyber security segment. Over the years, the country has experienced a significant loss of data due to rising cyber crimes and data breaches. This compelled the government to allot substantial revenue in strengthening the nation’s protection and response capabilities. Such initiatives are likely to drive the demand for testing solutions in the country, thereby fueling the evolution of the security testing market in North America.

Offensive Security LLC, McAfee LLC, iViZ Security Inc, Hewlett-Packard Company, Veracode Inc, IBM Corporation, Applause App Quality Inc, Rapid7, Checkmarx Ltd, Cisco Systems Inc, Paladion Networks Pvt Ltd, Accenture Plc, Core Security Technologies Inc, ControlCase LLC, and Maveric Systems Ltd are key firms in the examined market.

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Question & Answer: Security Testing Market

Question 1: What factors are amplifying the growth of the security testing market?

Answer: Factors such as growth in security threats, government regulations realizing security needs, and rising network attacks are amplifying the growth of the security testing market.

The introduction of wireless devices and networks has transformed the functioning of several commercial services. Moreover, numerous companies are connecting their databases to big data centers supporting cloud services. For instance, over the years, multiple banks and financial entities have adopted cloud services to track and process banking transactions. This high reliance on cloud computing and other IT services has led to a rise in cyber terrorism impacting sensitive data, including banking details, of the users.

Question 2: What factors are negatively affecting the overall development of the security testing market?

Answer: The lack of testing knowledge and a dearth of skilled cyber security personal are a set of factors negatively affecting the overall development of the security testing market.

Question 3: Which region is dominating the security testing market?

Answer: Globally, North America is dominating the security testing market. Among the region’s nations, several enterprises are optimizing their compliance programs by leveraging automation, analytics, and testing to improve Canada’s cyber security segment. Over the years, the country has experienced a significant loss of data due to rising cyber crimes and data breaches. This compelled the government to allot substantial revenue in strengthening the nation’s protection and response capabilities. Such initiatives are likely to drive the demand for testing solutions in the country, thereby fueling the evolution of the security testing market in North America.  

Question 4: Which are the key firms in the security testing market?

Answer: Offensive Security LLC, McAfee LLC, iViZ Security Inc, Hewlett-Packard Company, Veracode Inc, IBM Corporation, Applause App Quality Inc, Rapid7, Checkmarx Ltd, Cisco Systems Inc, Paladion Networks Pvt Ltd, Accenture Plc, Core Security Technologies Inc, ControlCase LLC, and Maveric Systems Ltd are key firms in the examined market.

 

Related Report:

Global Mobile Security Market

The global mobile security market is estimated to surge at a CAGR of 14.35% during the period of 2021-2028, while reaping $8444.99 million in revenue by 2028.

Mobile security refers to safeguarding smart devices from malware, data theft, viruses, spyware, and accidental loss. The mobile security solutions help block unwanted calls and messages that can threaten the user’s privacy.

The rising number of mobile payments, increasing need for security due to the adoption of BYOD in workplaces, and growth in the need to offer protection to video streaming content are key factors responsible for the studied market’s progression. In addition, the rising use of machine learning and AI in mobile security applications is opening multiple avenues for the mobile security market.

However, the high cost of mobile security solutions and lack of awareness are restraining factors limiting the mobile security market’s growth globally.

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