Security Testing Market by Testing Type (Application Security, Network Security, Device Security, and Social Engineering), Deployment Mode, Organization Size, Vertical (BFSI, Healthcare, IT, and Telecom), and Region - Global Forecast to 2025
The global post-COVID-19 security testing market size to grow at a Compound Annual Growth Rate (CAGR) of 22.3% during the forecast period
MarketsandMarkets forecasts the globalpost-COVID-19 security testing market size to grow from USD 6.1 billion in 2020 to USD 16.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.3% during 2020–2025. The major growth drivers for the market include Need to provide seamless end user experience with shorter release cycle and stringent government regulations. However, security breaches due to internal vulnerabilities may restrain the market growth.
Network security testing to grow at the highest rate after application security testing during the forecast period
Rapid growth in cloud adoption among both large enterprises as well as SMEs due to willingness among enterprises to spend more on network security and stringent government regulations as well as compliances are the major driving factors for the network security testing market.
Large enterprises segment to hold a larger market size during the forecast period
Due to the increased use of BYOD, large enterprises now not only have to protect the systems and endpoints that are interconnected to the enterprise network, but they also must defend the cloud applications running on these endpoints. This requirement is expected to drive the security testing market growth.
Asia Pacific (APAC)to grow at the highest CAGR during the forecast period
The surge in adoption of technologies such as IoT due to rapid digitalization but lack of proper security of IoT devices as well as increased investments into trials of e-passports, e-visas for easier immigration, border control, and law enforcement will further necessitate the need for regular security tests as a result of continually increasing high-profile cyberattacks such as identity and data theft is necessitating the implementation of security testing in the APAC region for ensuring security.
By Company: Tier I:20%, Tier II:57%, and Tier III:33%
By Designation: C-Level:40%, Manager and Other Level:60%
By Region: North America: 20%, Europe: 35%, APAC: 45%
The report includes the study of the key players offering security testing solutions and services. It profiles major vendors in the global security testing market, including IBM (US), SecureWorks (US), Synopsys (Canada), Rapid7 (US), Micro Focus (UK), Cigniti (India), AT&T (US), WhiteHat Security (US), Veracode (US), Checkmarx (Israel), and McAfee (US).
The report segments the global security testingmarketbytesting type, deployment mode, organization size, vertical, and region. The testing type segment comprisesapplication security testing, network security testing, device security testing and social engineering.The deployment mode segment comprises cloud and on-premises.The organization size segment comprises SMEs and large enterprises. The security testingmarket by vertical includes BFSI, healthcare, IT, telecom, retail and eCOmmerce, education and others (transportation, energy and social media).The report covers the security testing market with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA) and Latin America.
The report would help the market leaders and new entrants in the global security testing market in the following ways:
1. The report segments the market into various subsegments. Henceit covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are splitfurther across applications and regions.
2. It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
3. It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.
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