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Security Testing Market To Achieve A High CAGR Of 22.3% During Forecast Period -2025

Newsroom Editor by Newsroom Editor
September 23, 2022
in Press Releases
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(EMAILWIRE.COM, September 23, 2022 ) Security Testing Market size to grow from USD 6.1 billion in 2020 to USD 16.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.3% during the forecast period. The major factors fueling the security testing market include surge in web and mobile-based business critical applications requiring higher secure endpoint protection, increased sophistication in cyberattacks, need to provide seamless end user experience with shorter release cycle and stringent government regulations. Moreover, Initiatives by governments and enterprises with focus on digitalization and implementation of new technologies, such as DevOps, DevSecOps and Agile, in software security testing would provide lucrative opportunities for security testing vendors.

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In the testing type, application security testing segment to hold the largest market size during the forecast period
Application security testing is carried out to identify the vulnerabilities, threats, and overall risks associated with the internal and external applications along with its APIs. The market for security testing has evolved from an in-house process to a service-based market, with rapid growth in the use of applications in organizations. As security threats evolved, new methods of security testing were developed. Open source tools were also developed for security testing by companies. The major factors fueling the growth of the application security testing market are rise in security breaches targeting web and mobile applications and strong regulations and compliance requirements among SMEs and large enterprises

In deployment mode, cloud deployment to grow at a higher CAGR during the forecast period
Cloud-based security testing solutions are not only enabling organizations to manage their costs but also helping them in improving business agility. It is the fastest-growing deployment model in the security testing market. SMEs prefer cloud-based deployment, as it is cost-effective and easy to deploy. With the cloud-based deployment of these solutions, small enterprises can assess vulnerabilities and reduce threat landscape at a much lower cost, thus improving their customer services. The cloud-based platform offers a centralized way to secure the web and mobile applications in an organization, throughout the application development lifecycle. For organizations having strict budgets on security investments, cloud-based security testing solutions are a good fit.

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North America to hold the largest market size during the forecast period
North America, a technologically advanced region with a high number of early adopters and the presence of major market players, is expected to contribute the highest market share in terms of revenues during the forecast period. Factors such as large-scale deployment of smart devices such as smartphones, smart TVs, and smart automobiles and the increased adoption of IoT and AI-based technologies due to initiatives aimed at digitization and Increasing demand for cloud-based security testing services among enterprises, especially SMEs, due to advantages such as scalability and cost effectiveness are expected to fuel the growth of security testing in th region

Major vendors in the global security testing market include IBM (US), SecureWorks (US), Synopsys (Canada), Rapid7 (US), Micro Focus (UK), Cigniti (India), AT&T (US), WhiteHat Security (US), Veracode (US), Checkmarx (Israel), McAfee (US), Core Security (US), ParaSoft (US), ScienceSoft (US), Data Theorem (US), Kryptowire (US), LogRhythm. (US), PortSwigger (UK), ImpactQA (US), and NowSecure (US).

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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