Security Testing Market Growth & Trends
Global security testing market size to grow up to USD 7.15 billion by 2027, growing at a cagr of 26.8% over the forecast period new research report published by UpGraph Research and consultancy. The report incorporates detailed market estimates and forecasts for the Global Security testing market from 2017 to 2027, considering all micro and macroeconomic factors and COVID-19 impact analysis. As per the research, the growth can be attributed to increasing penetration of the Internet of Things (IoT) technology and Bring Your Own Device (BYOD) trends. As most of the business operations are moving online, it Has become highly necessary to ensure data security and privacy.
The traditional computers are replaced by handheld devices such as laptops, tablets, and Smartphones; most of the major companies provide their employees with a remote working facility by providing laptops; is necessary to monitor these distributed laptops from time to time for data protection.
Security testing is also important in the application development stage to ensure all safety measures are taken for application security. Recently, many big organizations are hit with viruses such as Ransomware, malware, trojans, etc., these may emerge as the major data security threat and may leak users’ personal information including contact details, credit card/debit card details leading to financial frauds and scams. Security testing is widely used in Information Technology, Banking Financial Service & Insurance (BFSI), Government, Retail, and E-commerce sectors.
Cloud technology has revolutionized the application development and deployment, many companies are migrating their digital assets from on-premise to cloud servers. Such migration from on-premise to cloud technology needs through inspection & security testing to ensure maximum safety online. The cyberattacks may occur via two major routes through network servers or through application backdoors. Security testing includes testing of various components such as application code, file structure, third-party software/addons/plugins among others.
The North America security testing market share was greater than 35% in 2019 considering stringent data security & privacy regulations in the U.S. and Canada. The U.S. has the presence of all the major security testing companies such as Cisco Systems, Inc., Hewlett Packard Enterprise Company, McAfee LLC, etc. which generates huge revenue each year from security testing services.
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Security Testing Market Report Insights
- The cloud security testing services market is expected to grow at the highest growth rate of 30.2% between 2020 to 2027, owing to the growing importance of cloud technology for software deployment.
- The application security testing segment is growing at a high growth rate, considering increased development of mobile & web applications.
- The IT & Telecom segment accounted for the largest market size in 2019, the BFSI segment is growing at the fastest CAGR over the forecast period.
- Companies such as Accenture PLC, Cisco Systems Inc., Hewlett Packard Enterprise company, IBN Corporation, and McAfee LLC accounted for the largest global security testing market share.
Security Testing Market Segmentation
UpGraph Research has segmented the global security testing market on the basis of deployment, type, tools, industry, and the region as mentioned below:
- Security Testing Deployment Insights (Revenue, USD Million, 2017 – 2027)
- Security Testing Type Insights (Revenue, USD Million, 2017 – 2027)
- Network Security Testing
- Application Security Testing
- Security Testing Tool Insights(Revenue, USD Million, 2017 – 2027)
- Web Application Testing Tool
- Code Review Tool
- Penetration Testing Tool
- Software Testing Tool
- Other Testing Tools
- Security Testing End-User Industry Insights (Revenue, USD Million, 2017 – 2027)
- IT and Telecom
- Other End-user Industries
- Security Testing Regional Insights (Revenue, USD Million, 2017 – 2027)
- North America
- The U.S.
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- North America