Security Testing Market

Global Security Testing Market Size (2024 to 2032)

The global security testing market is predicted to reach USD 8.13 billion in 2024 and USD 36.72 billion by 2032, growing at a CAGR of 20.74% during the forecast period.

MARKET DRIVERS

The strict and mandatory rules from the governments of different countries that regulate compulsory testing are a significant driver of the market's growth.

Also, the increased adoption of cloud-based web and mobile applications, which call for the need for improving security due to the interference of third parties, is considered to be a major driving factor in the security testing market.

However, the high costs associated with innovation and deployment that affect budgets are the primary restraining factors in the security testing market in the forecast period. Also, the lack of awareness about cybersecurity and increased adoption of freeware security applications may pose some friction to the growth of the security testing market.

REPORT COVERAGE

SEGMENTAL ANALYSIS 

Global Security Testing Market Analysis By Type

The application testing segment is the fastest growing and has accounted for the highest share of the market. This progress is attributed to the increased number of web and mobile applications susceptible to vulnerabilities and threats.

Global Security Testing Market Analysis By Tool

As mentioned earlier, the web penetration testing segment of security testing tools was the largest in terms of value and volume in 2018 and is calculated to have the fastest growth rate in the forecast. The growth is assisted by the growing cyberattacks on organizations' critical hardware and software applications.

Global Security Testing Market Analysis By Deployment Mode

The cloud segment of deployment mode is the fastest growing in the forecast period due to its convenience to both sides of the users.

Global Security Testing Market Analysis By Organization Size

The SME segment is anticipated to lead the market for security testing.

Global Security Testing Market Analysis By Industry

BFSI and IT& Telecom sectors are estimated to be the top-leading segments in the security testing market. This is attributed to the implementation of technology in the banking and financial sectors worldwide.

REGIONAL ANALYSIS 

North American region leads the global Security Testing market by value and volume as of 2019. The situation of all the market key players in this region is the main reason for its leading market position. However, this region is the second fastest-growing region in the world, following the Asia Pacific region. Europe was the second lead in the security testing market in 2019. The presence of a vast customer base in and around this region is helping the growth of the security testing market in Europe. Also, the technological supremacy of Europe and North America over the rest of the world is the vital condition that facilitates their development in this emerging field, creating eye-catching performance in the market.

The Asia Pacific region is the next largest market shareholder in 2019 in terms of value and volume. This region is expected to be the fastest growing regional market for Security Testing owing to the future opportunities offered and interest shown by the leading key companies in the Asia Pacific region, mainly India, China, and Japan, which is the cause for such growth rate. The regional advantages offered by this region, such as ease of setup, cheap resources, and a large number of skilled populations, are significant reasons for this region’s advancement in the market.

On the other hand, the Middle East & Africa, and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer opportunities for market growth. Hence, the Security Testing Market grows at a slow pace in these regions.

KEY PARTICIPANTS IN THE GLOBAL SECURITY TESTING MARKET

The major companies operating in the global security testing market include Capgemini SE, Cisco Systems Inc., Wipro Limited, Hewlett Packard Enterprise, Valency Networks Pvt Ltd, IBM Corporation, Hexaware Technologies Limited, Qualys Inc., Symetrics, WhiteHat Security, Beyond Security, TraceSecurity, Applause App Quality Inc., Accenture, Cognizant Technology Solutions Corp, Rohde & Schwarz UK Ltd, Infosys Limited, CloudBees, Tata Consultancy Services Limited, McAfee, Veracode, Zensar Technologies Limited, Checkmarx, PortSwigger, UL LLC, Cenzic, Intertek Group Plc, and others.

RECENT HAPPENINGS IN THE GLOBAL SECURITY TESTING MARKET

• Intel, a key participant in the security testing market, has announced plans to open-source a new firmware security testing tool. The device's name is HBFA, which stands for Host-Based Firmware Analyzer. This project is expected to be formally introduced at the RSA 2019 security conference in San Francisco.

DETAILED SEGMENTATION OF THE GLOBAL SECURITY TESTING MARKET INCLUDED IN THIS REPORT

This research report on the global security testing market has been segmented and sub-segmented based on the type, tool, deployment mode, organization size, industry, and region.

By Type

• Network

• Application

• Device

By Tool

• Penetration Testing

• Web Testing

• Automated Testing

• Code Review

By Deployment Mode

• Cloud

• On-Premises

By Organization Size

• SMEs

• Large Enterprises

By Industry

• Government and Public Utilities

• BFSI

• Healthcare

• IT & Telecom

• Others.

By Region

• Latin America

• Europe

• Asia Pacific

• North America

• Middle-East & Africa.