The security testing market was valued at USD 9.35 billion in the previous year and is expected to register a CAGR of 26.76%, reaching USD 37.55 billion by the next five years during the forecast period. The increasing adoption of IoT devices and BYOD (bring your own device) stimulates the market's growth. IoT-connected devices must be tested and set a minimum level of security as their importance to our daily lives increases.
The security testing market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent market share focus on expanding their customer base across foreign countries. These companies leverage strategic innovations and collaborative initiatives to increase their market shares and profitability.
Hewlett Packard Enterprise has announced advances in hybrid cloud leadership with HPE GreenLake platform innovation, new cloud services, and expanded private cloud portfolio and partner ecosystem; HPE closes OpsRamp acquisition in June this year, which is available as Saas offering on the HPE GreenLake platform, providing customers with AI-driven operations for multi-vendor, multi-cloud IT environments.
McAfee LLC has announced McAfee Business Protection, a new comprehensive security solution for small business owners in collaboration with Dell Technologies. McAfee Business Protection helps Dell small business customers avoid cyber threats and vulnerabilities with award-winning security, identity and dark web data monitoring, VPN, web protection for safe browsing, and more. McAfee Business Protection, designed to meet the growing needs of businesses, provides more secure security for employees' personal computers and online connections to make it easier for business owners to defend themselves against hackers, malware, or viruses.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook