Global Security Testing Market Forecast 2021-2028
The global security testing market is predicted to record a CAGR of 23.76% during the forecast period, 2021-2028. The factors fueling the market growth are the rising security threats, a growing number of network attacks, and government regulations with regard to network security.
Several industries are relying on big data processing and cloud computing. The security of sensitive data is increasingly at risk with rising cyber terrorism. Also, networks and wireless devices have become an integral part of many utility and commercial services. Data breaches in government bodies have a negative impact on foreign direct investments, causing fluctuation in an economy. Moreover, this can affect public security. Thus, governments across the world are putting forth regulations and increasing awareness among organizations and businesses, along with prioritizing security-testing frameworks. Many online training programs have been introduced in several sectors.
In March 2013, the UK government launched the Cyber Security Information Sharing Partnership (CISP) for enabling information sharing among businesses. It also launched initiatives that promote the cybersecurity profession. The US government passed the E-Government Act in recognition of the importance of information security with regard to economic and national data. Such factors are set to influence the global security testing market growth. At the same time, the lack of knowledge and proper monitoring mechanisms hamper the growth of the market.
The geographical segregation of the global security testing market includes the analysis of the Asia Pacific, Europe, North America, and rest of world. The Asia Pacific is projected to be the leading region in the global market by 2028. The potential for digital transformation, and favorable government initiatives, are expected to enhance the market prospects of the region.
The competitive intensity of the market is estimated to be high, with players engaged in developing new and innovative security testing solutions. Some of the eminent players in the market include, Accenture Plc, Hewlett-Packard Company, IBM Corporation, Applause App Quality Inc, Core Security Technologies Inc, etc.
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• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
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