As per Market Research Future (MRFR), The security testing market had a valuation of USD 3.67 billion in 2017 and is estimated to reach USD 8.69 billion with a CAGR of 15.72% from 2017 to 2023 (forecast period). The report discusses and examines the effect of the outbreak of COVID-19 on the global security testing market, including possible opportunities and threats, drivers, and risks.
With the increasing adoption of cloud-based services and automation, the capabilities of industrial and enterprise networks are increasing. Nevertheless, there are also risks and threats associated with the security of customer data and web and mobile applications. Security testing can be considered a form of software testing used to identify system and network susceptibilities. This is done to assure the security of data and assets against potential threats. Security testing can be broadly categorized under four different heads: network security, system software security, client-side application security, and server-side application security.
Market Dynamics
The key factors contributing to the security testing market's growth are the growing need to secure customer data and web and mobile apps, the increased acceptance of cloud-based security solutions, and the increasing need for better security due to rising cyber-attacks. However, a lack of understanding of cybersecurity and increased adoption of freeware security applications present challenges to market development.
Market Segmentation
The global market for security testing has been segmented into service type, tool, deployment, and industry vertical.
By service type, the global security testing market has been segmented into network security testing, application security testing, and device security testing. Network security testing is further divided into firewall testing, VPN testing, and IDS/IPS testing. Application security testing is further divided into web application security testing, static application security testing, mobile application security testing, cloud application security testing, and dynamic application security testing.
By tool, the global security testing market has been segmented into penetration testing tools, web testing tools, automated testing tools, and others.
By deployment, the global security testing market has been segmented into cloud and on-premise deployment.
By industry vertical, the global security testing market has been segmented into government and public sector, BFSI, IT & telecommunication, healthcare, retail, and others.
Regional Analysis
The geographical analysis of the global security testing market is studied for North America, Europe, Asia Pacific, and the rest of the world.
The adoption of security testing solutions and services is commonly seen in companies as most of them already have access to automation or cloud services. North America currently dominates the security testing market, as the region has been known as an early adopter of automation and cloud services to improve its enterprise networks. As a result, companies feel the need for security testing as the risk of data theft and privacy increases. The U.S. and Canada are the dominant countries in North America that are rising with a spectacular CAGR.
Europe is trailing North America closely in the security testing industry. The area has highly economically established countries with a strong role in the information and communication technology market. Countries like Germany and the United Kingdom dominate the market for security testing in Europe.
Key Players
The industry giants in the security testing market are Cisco Systems Inc. (US), Hewlett Packard Enterprise (US), Checkmarx (Israel), IBM Corporation (US), Qualys Inc. (US), WhiteHat Security (US), Veracode (US), Applause App Quality Inc. (US), UL LLC (Netherlands), and Intertek Group PLC (UK). These players contribute a significant proportion to market growth.
Apart from the industry giants, other players contribute nearly 30–35 % in the security testing market. These include Valency Networks Pvt Ltd (India), Infosys Limited (India), Capgemini SE (France), Wipro Limited (India), Cognizant Technology Solutions Corp (US), Tata Consultancy Services Limited (India), CloudBees (US), Hexaware Technologies Limited (India), Zensar Technologies Limited (India), Rohde & Schwarz UK Ltd (Germany), Beyond Security (US), Symetrics (Netherlands), TraceSecurity (US) and others.