Global Security Testing Market Report and Forecast 2024-2032

Global Security Testing Market Report and Forecast 2024-2032

Global Security Testing Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global security testing market size reached a value of USD 9.90 billion in 2023. Aided by the digital transformation accelerating across industrial sectors and the consequent rise in cyber threats, the market is projected to further grow at a CAGR of 19.10% between 2024 and 2032 to reach a value of USD 47.95 billion by 2032.

Security testing has become an indispensable element of the cybersecurity strategy for organisations worldwide. It encompasses a wide range of practices designed to identify vulnerabilities, risks, and threats in software applications, networks, and systems, ensuring the protection of data and maintaining integrity and confidentiality. The increasing reliance on digital platforms and the surge in cyber-attacks have underscored the need for robust security testing solutions.

The security testing market growth is primarily fuelled by the expanding IT sector, the proliferation of cloud computing, and the escalating adoption of Internet of Things (IoT) technologies. These factors, combined with the stringent regulatory requirements for data protection, are driving the demand for comprehensive security testing services.

Moreover, the shift towards DevSecOps, integrating security practices within the development and operational phases of software development, is significantly contributing to the expansion of the security testing market. This approach ensures that security is a critical consideration throughout the software development lifecycle, facilitating early detection and remediation of vulnerabilities.

The market is witnessing rapid technological advancements, with companies investing in artificial intelligence (AI), machine learning (ML), and automation to enhance testing efficiency and accuracy. These technologies enable the automation of repetitive testing tasks, allow for more sophisticated analysis of security threats, and predict potential vulnerabilities, thereby reducing the time and resources required for security assessments.

As per the security testing market analysis, a notable trend is the growing emphasis on mobile application security testing, driven by the widespread use of smartphones and the increasing number of mobile-based cyber-attacks. This has led to the development of specialised testing frameworks and tools designed to address the unique security challenges posed by mobile applications.

North America occupies a dominant security testing market share, attributed to the presence of leading cybersecurity firms, high awareness of cybersecurity risks, and stringent regulatory standards. However, the Asia-Pacific region is projected to witness the highest growth rate, driven by the rapid digitalisation of industrial sectors, increasing cyber threats, and the growing adoption of cloud services.

Market Segmentation

The market can be divided based on testing tool, type, enterprise size, deployment mode, industry vertical, and region.

Market Breakup by Testing Tool

• Code Review Tool
• Software Testing Tool
• Web Application Testing Tool
• Penetration Testing Tool
• Others

Market Breakup by Type

• Application Security
• Device Security
• Network Security
• Others

Market Breakup by Enterprise Size

• Small and Medium Enterprises
• Large Enterprises

Market Breakup by Deployment Mode

• Cloud-Based
• On-Premise

Market Breakup by Industry Vertical

• Education
• Retail
• Healthcare
• IT and Telecom
• BFSI
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global security testing market. Some of the major players explored in the report by Expert Market Research are as follows:

• AT&T Inc.
• IBM Corporation
• HCL Technologies Ltd.
• Cigniti Technologies Limited
• Open Text Corporation (Micro Focus International Limited)
• Veracode, Inc.
• Secureworks, Inc.
• Rapid7 Inc.
• Checkmarx Ltd.
• Synopsys, Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report. Show more