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July 19, 2019, 3:29 a.m. EDT

Security Testing Market 2019 Global Research Report with Focus on Industry Size, Share, Growth Factor, Emerging Opportunity, Business Opportunity and Forecast 2023

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Jul 19, 2019 (AB Digital via COMTEX) -- Market Scope

global security testing market is driven primarily by automation in the industrial sector. Migration to cloud services coupled with development of mobile and web applications is likely to drive market growth. Recent news of cyberattacks of enterprises is expected to propel the demand in the security testing market.

The rising trend of bring your own device (BYOD) policy in organizations which lets employees access emails and work at their own convenience is predicted to trigger the security testing market demand. This is buttressed by the preference of smartphones or personal laptops for office work. Furthermore, policies such as the General Data Protection Regulation (GDPR)But low awareness levels of online attacks combined with installation of freeware can be detrimental to the market.

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The reliance on the Internet for daily tasks has opened organizations and enterprises with a host of vulnerabilities. In order to counter the growing menace of cyberattacks, companies are relying on new methods for protecting their assets. Security testing is a type of software testing capable of discerning bugs or threats to the existing system architecture. Various types of security testing include risk assessment, posture assessment, security scanning, vulnerability scanning, ethical hacking, and others. The global security testing market report by Market Research Future (MRFR) covers the latest opportunities and threats encompassing the market.

Key Players

Prime players include UL LLC, WhiteHat Security, Qualys, Inc., Hewlett Packard Enterprise, IBM Corporation, Cisco Systems, Inc., Intertek Group Plc., Applause App Quality, Inc., Veracode, Checkmarx, and others.

Industry News

May 2019 – The evolution of communication networking technologies has in turn sparked the development of hardware and its security. Spirent Communications, one of the developers in security solutions, has decided to integrate the NetSecOPEN suite of programs into its cybersecurity platform for heightening its defenses. It can perform tests for security based on current standards.

Segmentation

The security testing market is segmented by service type, tool, deployment, and industry vertical.

By service type, the market is segmented into device security testing, network security testing, and application security testing. Application security testing is expected to gain traction over the assessment period owing to the rising dependence on applications for productivity or recreation. Development of policies which prioritize application security on a consistent basis is expected to bode well for the segment.

By tool, the market is segmented into penetration testing tools, automated testing tools, web testing tools, and others.

By deployment, the market is segmented into cloud and on-premise deployment.

By industry vertical, the market is segmented into healthcare, retail, government and public sector, BFSI, IT & telecommunication, and others. The government and public sector is predicted to be bountiful for the security testing market as sensitive data contained in government servers are vulnerable to threats. But the BFSI sector is anticipated to spark demand within the market due to safeguards required for protection against financial institutions.

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Regional analysis

The global market for security testing is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of security testing market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). The adoption of security testing solutions and services is widely seen in enterprises as most of them already have access to automation or cloud. North America at present dominates the security testing market as the region has been recognized as an early adopter of automation and cloud services for increasing their enterprise networks. With this, organizations feel the need for security testing as the risk of data theft and data privacy is increasing. The US and Canada are the dominating countries in North America growing with a staggering CAGR.

Europe closely follows North America in the security testing market. The region has highly economically established countries with a stronghold on information and communication technology sector. Countries such as Germany and the UK are the dominating the security testing market in Europe.

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