Security Testing Market Size and Growth Rate:

According to the latest market research report, the Security Testing Market was valued at USD 3.52 billion in 2018 and it is expected to register a CAGR of 27.2%, during the forecast period 2019 – 2024

Security Testing Market Overview:

Security testing is a type of software testing that intends to uncover vulnerabilities of the system and determine that its data and resources are protected from possible intruders. Security testing of any system is about finding all possible loopholes and weaknesses of the system which might result into a loss of information, revenue, repute at the hands of the employees or outsiders of the Organization.

Security Testing Market Growth Drivers and Restraints:

The increasing adoption of IoT devices and BYOD (Bring Your Own Device) is also stimulating market growth. As IoT-connected devices become an integral part of our daily lives, it is crucial that these devices undergo testing and establish a minimum baseline for security.

With the penetration of mobile devices and ICT, various government and public enterprises are dependent on information infrastructure services. However, this dependency has become a vulnerable factor for numerous business enterprises, due to the rise in cybersecurity threats. Majority of the companies (and countries) realize that cyber threat is one of the most serious economic security challenges they face.

It is becoming increasingly evident that traditional methods, such as anti-malware software, are no longer sufficient to keep sensitive information safe. To address this challenge, various progressive companies are fortifying their sensitive information with cybersecurity strategy by using security testing tools for better protection. These security testing (ST) tools are used to identify and fix vulnerabilities in the system.

Competitive Landscape - Security Testing Market

The security testing market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic innovations and collaborative initiatives to increase their market share and increase their profitability. In Feb 2018, Accenture has Launched New Artificial Intelligence Testing Services which is powered by unique “Teach and Test” methodology which is designed to help the companies to build, monitor and measure reliable the AI systems within their infrastructure or in the cloud. In Sep 2018, Offensive Security has received a growth investment from Spectrum Equity, with participation from Ten Eleven Ventures. The company is expected to use the investment to expand and evolve its industry-defining security training and certifications, virtual lab offerings, and to support the Kali Linux open source project and community

Security Testing Market Regional Presence:

The region is a technology hub. Therefore, the Federal government has made rules very stringent regarding security testing services. Moreover, it is made compulsory for industries, such as BFSI, to adhere to compliance testing. According to ITU, North America features as the most pro-active and committed region in term of cybersecurity-based initiatives. The GCI score given to the major countries (United States – 0.91 and Canada – 0.81) further reinforces their commitment toward building a robust cybersecurity framework coupled with enhanced security testing methodologies. Moreover, the United States is increasingly focusing on cybersecurity at both the national and state level, notably for financial services firms. In addition, the region is home to prominent cloud service providers, such as Microsoft and Amazon, which is expected to play a significant role in the growth of cloud-based security testing.

Some of the  Key Players dominating the Security Testing Market Profiled in the Report are:

• Qualys, Inc.
• Check marx Ltd.
• UL LLC
• International Business Machine Corporation
• Applause, Inc.
• Intertek Group PLC Cisco Systems, Inc.
• Hewlett Packard Enterprise Company
• White hat Security, Inc.
• Veracode, Inc.

This research report includes following segmentation for the Security Testing Market size and forecast until 2023

Security Testing Market - By Type

• Network Security Market

  • Firewall Testing
  • Virtual Private Network Testing

• Application Security Testing

  • By Type

    • Static Application Security Testing
    • Dynamic Application Security Testing

  • By Application

    • Web Application Security Testing
    • Mobile Application Security Testing
    • Cloud Application Security Testing

• Device Security Testing

Security Testing Market - By Tool

• Code Review Tools
• Penetration Testing Tools
• Web Testing Tools

Security Testing Market - By Deployment Mode

• Cloud
• On-Premises

Security Testing Market - By Vertical

• Retail
• Government and Public Utilities
• IT and Telecom
• Healthcare
• Banking, Financial Services, and Insurance
• Others

Security Testing Market – By Region

• North America                                                

  • United States                               
  • Canada                                         

• Europe                                                                                  

  • United Kingdom                                           
  • Germany                                      
  • France                                          
  • Italy                               
  • Spain                                             

• Asia-Pacific                                                     

  • China                                            
  • India                                             
  • Japan                                            
  • South Korea                                 

• Latin America                                                                             

  • Brazil                                            
  • Argentina                                     
  • Mexico                                          

• Middle-East & Africa                                                      

  • Middle-East
  • Africa