Security Testing Market Size and Trends

The global security testing market size was valued at US$ 10.94 billion by 2023 and is expected to reach US$ 38.50 billion by 2030, growing at a compound annual growth rate (CAGR) of 19.7% from 2023 to 2030 during the forecast period.

Security testing tools and services are used to identify vulnerabilities, threats, risks in software applications, networks, and devices. The main types of security testing are static application security testing, dynamic application security testing, network security testing, and social engineering. The increasing number and sophistication of cyberattacks are driving the need for more extensive security testing solutions.

The security testing market is segmented based on testing type, deployment mode, organization size, vertical, and region. By testing type, the market is segmented into static application security testing, dynamic application security testing, mobile application security testing, and others. Dynamic application security testing is expected to account for the largest market share during the forecast period owing to its ability to detect vulnerabilities in running applications.

Security Testing Market Drivers:

Increasing Frequency and Severity of Cybersecurity Threats: The rapidly evolving threat landscape is a major factor propelling the growth of the security testing market. Cyber threats, such as malware, ransomware, phishing, DDoS attacks, and data breaches, are becoming more frequent, sophisticated, and damaging. High profile incidents like the 2020 SolarWinds and 2021 Colonial Pipeline attacks have highlighted how threat actors are leveraging new techniques to exploit vulnerabilities. Organizations are recognizing the need to identify and address security gaps before they can be leveraged by attackers. This is creating significant demand for security testing solutions.
Stringent Compliance and Data Protection Regulations: Government policies and industry standards are mandating stringent security testing requirements which is driving the market growth. Regulations like Health Insurance Portability and Accountability Act (HIPAA), Payment Card Industry Data Security Standard (PCI-DSS), Sarbanes-Oxley Act (SOX), and General Data Protection Regulation (GDPR) impose heavy penalties for non-compliance and data breaches. To avoid regulatory fines and reputational damage, organizations are adopting security testing tools and services to audit their security posture. The growing focus on data privacy protection across jurisdictions is compelling enterprises to implement robust application and infrastructure security testing.
Digital Transformation and Cloud Adoption Trends: The digital transformation wave has expanded the attack surfaces that organizations need to secure. Cloud adoption, Internet of Things (IoT) devices, mobility, microservices, and Application program interface (APIs) have changed application architectures and exposed new vulnerabilities. To secure these dynamic environments, organizations need scalable and flexible security testing capabilities. The accelerated pace of software releases in development and operations (DevOps) models is also fueling continuous security testing adoption. As digital transformation gathers steam globally, it will continue to spur the security testing market growth.
Testing for Exposed Devices and Remote Users: The expansion of the work-from-home workforce and growth in connected devices has increased the demand for security testing. As more enterprise devices and users operate remotely, they become attractive targets for cybercriminals. Validating the security of Bring Your Own Device (BYOD) endpoints, corporate virtual private network (VPNs), exposed IoT devices, and remote access networks have become crucial. Organizations are leveraging security testing tools tailored to continuously monitor and secure remote assets. The remote work trend is thus a key catalyst for the security testing industry.