Security Testing Market- Insights:
The high scale penetration of software across various industry verticals is expected to emerge as the driving force of the market. Market Research Report (MRFR)’s report reveals that the global security testing market is expected to mark a CAGR of 15.72% during the forecast period 2018 to 2023. Its valuation is poised to reach USD 8.69 Bn towards the end of 2023 up from USD 3.67 Bn in 2017.
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The advent of cloud-based services has paved its way across different sectors of economy. With the advancements in these services, the number of cyberattacks is also witnessed to be on a rise. This, in turn, has unleashed enormous opportunities for the flourishment of the security testing market. The market is expected to exhibit similar trend across the review period.
Security testing facilitates the identification of susceptibilities before it could cause harm to the profits of an enterprise. It also ensures the protection of private information of the clients by strengthening the overall security systems. It is presumed to benefit the organizations by enhancing their goodwill, thus, augmenting the security testing market.
The security testing market is forecasted to remain highly lucrative owing to the rising inclination of industries towards web & mobile applications. In addition, the constant upgradation of technology is also expected to generate security testing demand over the next couple of years. On the flip side, the availability of freeware security applications is projected to check the expansion of the security testing market in the forthcoming years.
Security Testing Market- Competitive Dashboard:
Some of the prominent players identified in this MRFR report are Cisco Systems Inc. (US), UL LLC (Netherlands), IBM Corporation (US), Qualys Inc. (US), WhiteHat Security (US), Hewlett Packard Enterprise (US), Applause App Quality Inc. (US), Checkmarx (Israel), Veracode (US), and Intertek Group PLC (UK).
Other players contributing towards the development of the security testing market are Capgemini SE (France), Wipro Limited (India), Valency Networks Pvt Ltd (India), Cognizant Technology Solutions Corp (US), Tata Consultancy Services Limited (India), Infosys Limited (India), Hexaware Technologies Limited (India), CloudBees (US), Symetrics (Netherlands), Zensar Technologies Limited (India), Rohde & Schwarz UK Ltd (Germany), TraceSecurity (US), and Beyond Security (US).
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Security Testing Market- Segmentation:
By service type, the global security testing market is segmented into network security testing, application security testing, and device security testing. The network security testing segment is further sub-segmented into firewall testing, VPN testing, and IDS/IPS testing. The application security testing segment is sub-segmented into mobile application security testing, cloud application security testing, web application security testing, static application security testing, and dynamic application security testing.
By tool, the security testing market is segmented into web testing tools, automated testing tools, penetration testing tools, and others.
By deployment, the global security testing market is segmented into cloud and on-premise deployment.
By industry vertical, the security testing market is segmented into BFSI, government and public sector, IT & telecommunication, retail, healthcare, and others.
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Security Testing Market – Regional Analysis:
By region, the global security testing market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America’s economy is highly dependent on the IT industry. Every large as well as small & medium enterprise of the region is, directly or indirectly, related to the software industry. This has intensified the demand for security testing across the region and is expected to ensure the retaining of the pole position in the global market.
Europe exhibits a similar trend as that of Americas. This region, too, is projected to grow substantially over the next couple of years. The region has a penchant for tech-driven changes which is presumed to create constant demand for testing services. This, in turn, has been anticipated to revolutionize the future trajectory of the security testing market in the foreseeable future.
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