SECURITY TESTING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Security testing is crucial to ensure applications and systems are secure from cyber threats. There are various security testing products that can be broadly categorized into network security testing, web application security testing, and source code application security testing.

Network security testing products are used to test networks and infrastructure for vulnerabilities. Popular network testing tools include Nmap which scans networks to detect live hosts and services on them along with vulnerabilities. Network penetration testing tools like Metasploit help in identifying security issues by simulating real-world hacking techniques. These tools provide visibility into network security and help plug loopholes. However, network testing requires skilled resources and downtime may be involved during scanning.

Market Dynamics:

The security testing market is driven by several factors. Firstly, the growing awareness about the importance of cybersecurity among organizations has led to increased investments in security testing solutions. Companies are realizing the consequences of failing to adequately protect their systems, and this has prompted them to proactively assess and mitigate potential risks. Another factor driving the market is the strict regulatory landscape governing data protection and privacy. Regulations like the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) require organizations to ensure the security of personal and sensitive data.

However, despite the growth opportunities, the market faces certain restraints. One key restraint is the complexity and ever-evolving nature of cyber threats. Attack techniques are continuously evolving, and hackers are becoming more sophisticated in their approaches. This poses challenges for security testing providers, as they need to constantly update their methodologies and tools to keep up with emerging threats.

Nevertheless, the security testing market also presents significant opportunities. The increasing adoption of artificial intelligence and machine learning technologies in security testing allows for more efficient and accurate identification of vulnerabilities. Additionally, the rise of cloud-based security testing solutions offers scalability and cost-effectiveness, enabling organizations of all sizes to implement robust security measures.

Key features of the study:

• This report provides an in-depth analysis of the global security testing market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global security testing market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Synopsys, Inc., Open Text (Micro Focus), IBM, Rapid7, Trustwave Holdings, Inc., SecureWorks Inc., Cigniti, WhiteHat Security(Synopsys, Inc. ), Veracode, McAfee, LLC, Parasoft ,Data Theorem, Inc., ImpactQA, NowSecure, and Kryptowire
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global security testing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global security testing market

Detailed Segmentation:

• By Testing Type
• • Static Application Security Testing
  • Dynamic Application Security Testing
  • Mobile Application Security Testing
  • Network Security Testing
  • Social Engineering
  • Others
• By Deployment Mode
• • On-premise
  • Cloud
• By Organization Size
• • Small & Medium Enterprises
  • Large Enterprises
• By Vertical
• • BFSI
  • Government & Defense
  • IT & Telecom
  • Healthcare
  • Retail & eCommerce
  • Others
• By Region
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Key Players
• • Synopsys, Inc. 
  • Open Text (Micro Focus)
  • IBM
  • Rapid7
  • Trustwave Holdings, Inc. 
  • SecureWorks Inc.
  • Cigniti
  • WhiteHat Security (Synopsys, Inc.)
  • Veracode
  • McAfee, LLC
  • Parasoft
  • Data Theorem, Inc.
  • ImpactQA
  • NowSecure
  • Kryptowire