According to the latest report by IMARC Group, titled, “Security Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global security testing market size reached US$ 9.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.1 Billion by 2028, exhibiting a growth rate (CAGR) of 21.6% during 2023-2028.
Security testing is utilized to identify weaknesses, risks, threats, and vulnerabilities in a software application. It comprises penetration testing, security scanning, ethical hacking, security auditing, and posture assessment. It relies on various testing principles, such as confidentiality, integrity, authentication, authorization, and non-repudiation. It assists in detecting any vulnerabilities in the system and benefits developers in fixing security issues through coding. It prevents the loss of information, data, reputation, and revenue of an organization. As a result, security testing is widely employed in the healthcare, education, IT and telecommunication, e-commerce, and banking, financial services, and insurance (BFSI) industries across the globe.
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Security Testing Market Trends and Drivers:
At present, the rising demand for security testing to prevent financial losses in businesses represents one of the key factors supporting the market growth across the globe. Besides this, the growing adoption of security testing solutions due to the increasing number of cyberattacks around the world is offering a positive market outlook. Apart from this, governing agencies of various countries are implementing stringent policies to promote the usage of security testing solutions, which is positively influencing the market. Moreover, the rising demand for security testing in the web-based businesses and telecom industry to enhance endpoint security is bolstering the growth of the market. Furthermore, the rising focus on cloud-based security testing, as it provides centralized protection and reduces administration, is strengthening the growth of the market.
Security Testing Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Accenture plc
- Applause App Quality Inc.
- Checkmarx Ltd.
- Cisco Systems Inc.
- HelpSystems LLC
- Hewlett Packard Enterprise Development LP
- International Business Machines Corporation
- McAfee LLC
- Nippon Telegraph and Telephone Corporation
- OffSec Services Limited
- Qualys Inc
- Veracode Inc.
The report has segmented the market based on type, testing tool, deployment mode and end user.
Breakup by Type:
- Application Security Testing
- Network Security Testing
- Device Security Testing
- Social Engineering
- Others
Breakup by Testing Tool:
- Web Application Testing Tool
- Code Review Tool
- Penetration Testing Tool
- Software Testing Tool
- Others
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by End User:
- BFSI
- Healthcare
- IT and Telecom
- Retail and E-Commerce
- Education
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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