Initiatives by governments and companies focus on digitalization and the deployment of new technologies in software security testing, such as DevSecOps, DevOps, and Agile would create attractive possibilities for global security testing providers
Security testing is described as the process of examining and evaluating data and hardware in an information system environment to guarantee that the data is secure. Data testing is both discreet and honest. Security testing of any system focuses on identifying any potential holes and flaws in the system that might result in the loss of data or the organization's reputation. The global security testing market has been expanding with high revenue in recent years and is anticipated to expand with 17 USD Billion at a CAGR of 23% during the forecasted period.
The global security testing market is expected to expand rapidly due to an increasing emphasis on adherence to safety requirements across a variety of business verticals. With the introduction of new apps and the proliferation of cyber security risks, the demand for security testing services has grown. The market is likely to be driven by the need to ensure that systems and applications are free of flaws in order to prevent data loss. It also aids in the detection of possible system flaws that might result in substantial data loss on the part of the business.
Specific components of standard security requirements may include confidentiality, integrity, authentication, availability, authorization, and non-repudiation. The specific security standards assessed are determined by the system's protection requirements. Security testing has numerous distinct meanings and may be done in a variety of methods. Increased developments of mobile-based, web-based, and desktop-based apps, as well as their widespread deployment across several business verticals, are projected to be key drivers of security testing market growth.
Increased security concerns have prompted more security testing to identify possible system vulnerabilities. Market growth is projected to be hampered by a lack of domain-specific tools, a lack of understanding regarding security testing, and high implementation and maintenance costs.
Despite the fact that security testing has several advantages, some obstacles limit and impede industry growth. The market's growth is projected to be hampered by a lack of domain-specific tools, a limited understanding of security testing, and excessive deployment and maintenance expenses.
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In terms of the organization size segment, cloud-based networking solutions are preferred by SMEs over on-premises networking solutions because they are more flexible and cost-effective. Attackers target SMEs with the primary objective of getting into apps and gaining access to customer information, payment data, and other sensitive data.
In terms of the vertical segment, the BFSI sector will have the largest market size in the coming years. Significant operational changes have occurred in the BFSI industry in order to improve client experience.
In terms of region, the North American security testing market is expected to have the highest market share during the forecast period, due to its technical superiority, the existence of key market rivals, and a large number of early adopters.
Whitehat Security, Inc., Intertek Group PLC, Cisco Systems, Inc., Qualys, Inc., Hewlett Packard IBM Corporation, Applause, Inc., Enterprise Company, UL LLC, Checkmarx Ltd., and Veracode, Inc. are the key players in the global security testing market. The competitive landscape section also contains the above-mentioned competitors' market share, main development strategies, and market ranking analysis on a worldwide scale.
Key Segments of the Global Security Testing Market
Testing Type Overview, 2018-2028 (USD Billion)
- Application Security
- Device Security
- Network Security
- Social Engineering
Deployment Mode Overview, 2018-2028 (USD Billion)
Organization Size Overview, 2018-2028 (USD Billion)
- Large Enterprises
Vertical Overview, 2018-2028 (USD Billion)
- IT and Telecom
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and Africa