Market Synopsis
According to the recent comprehensive research by Market Research Future Reports (MRFR), the global security testing market is expected to value USD 8.69 billion, expanding at a CAGR of 15.72% during the review period. The increasing adoption of cloud-based services is projected to be the most significant factor driving the global security testing market 2020. Besides, the growing competencies of industrial and enterprise networks are growing at a larger scale. The increasing demand for protecting the data of customer data and web and mobile applications is likely to contribute a crucial role in expanding the market. Also, the increasing demand for protection from cybersecurity is another factor leading to market growth. However, insufficient knowledge regarding the cybersecurity issues and the surge in adoption of freeware security applications act as a major factor of market impediment.
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Also, the challenged presented due to the outbreak of COVID-19 has resulted in a changing market landscape. The market has been studied efficiently with the long haul with projections in the MRFR reports. The data analysts at
Key Players
The renowned organizations of the worldwide security testing market are Hewlett Packard Enterprise (US), Cisco Systems Inc. (US), IBM Corporation (US), WhiteHat Security (US), Qualys Inc. (US), Applause App Quality Inc. (US), Checkmarx (Israel), Veracode (US), UL LLC (Netherlands), Intertek Group PLC (UK). Apart from these players, the other players who contribute 30-35% in the market expansion are Capgemini SE (France), Valency Networks Pvt Ltd (India), Wipro Limited (India), Infosys Limited (India), and Cognizant Technology Solutions Corp (US).
Market Segmentation
The worldwide security testing market can be distinguished on the basis of industry vertical, deployment, service type, tool, and geography.
On the basis of industry vertical, the worldwide security testing market can be distinguished into healthcare, BFSI, Government and public sector, IT & telecommunication, retail, and others.
On the grounds of deployment, the worldwide security testing market can be distinguished into on-premise deployment and cloud.
On the grounds of service type, the worldwide security testing market can be distinguished into application security testing, network security testing, and device security testing. Network security can be further distinguished into VPN testing, firewall testing, and IDS/IPS testing. Application security is further classified into web application security testing, mobile application security testing, cloud application security testing, dynamic application security testing, and static application security testing.
On the grounds of the tool, the global security testing market can be distinguished into web testing tools, testing tools, automated testing tools, and others.
On the grounds of geography, the worldwide security testing market can be distinguished into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
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Regional Analysis
The data experts at MRFR have thoroughly analyzed North America, Europe, Asia-Pacific, and the Rest of the World (RoW). As per the study, the worldwide market is projected to be dominated by North America. The region has been observed to adopt the latest technologies at the fastest pace. Besides, the demand to protect the data of customers is another factor leading to market expansion. Among all nations, the US and Canada are projected to make the most substantial contribution in expanding the market.
Europe obtains the second position. The region consists of countries such as the UK which are economically developed, and therefore, they have a strong grip on the communication technology sector. Countries like the UK and Germany are likely to acquire the major market space.
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