Security Testing Market 2022-2027 skyrocketed revenue with key players Core Security Technologies Inc, iViZ Security Inc

The security testing market was valued at USD 5.36 billion in 2020 and expected to reach USD 22.9 billion by 2026 and grow at a CAGR of 27.2% over the forecast period (2021 - 2026).

Latest research on Security Testing Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2022 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Security Testing market. This report included a special section on the Impact of COVID19. Also, Security Testing Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Security Testing industry.

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The Security Testing market is highly competitive and consists of a number of major players. Top Companies like Core Security Technologies Inc, iViZ Security Inc., Offensive Security LLC, Applause App Quality Inc, Acce-nture PLC, Cisco Systems Inc., Hewlett Packard Enterprise Company, IBM Corporation, McAfee LLC, Veracode Inc., ControlCase LLC, Paladion Networks Pvt Ltd, Maveric Systems Ltd, Checkmarx Ltd

Industry News And Developments:

- February 2019 - Help Systems acquired the Core Security assets from SecureAuth. The assets acquired from SecureAuth are the solutions for identity governance and administration, penetration testing, threat detection, and vulnerability management. Through this acquisition, the company aims to help its customers to stay ahead of the shifting cybersecurity environment.

- September 2018 - Offensive Security received a growth investment from Spectrum Equity, with participation from TenEleven Ventures. The company is expected to use the investment to expand and improve its industry-defining security training and certifications, virtual lab offerings, and support the Kali Linux open-source project and community.

Regional Analysis:

Furthermore, to broaden the understanding, researchers have studied the global Security Testing market from a geographical point of view, considering the potential regions and countries. The regional analysis will assist the market players in making sound decisions regarding their future investments.

Security Testing Market report includes the following geographic areas such as North America, Europe, China, Japan, Southeast Asia, India and ROW.

Scope of the Report

- The increasing adoption of IoT devices and BYOD (Bring Your Own Device) is stimulating the market's growth. As IoT-connected devices become an integral part of our daily lives, it is crucial that these devices undergo testing and establish a minimum baseline for security.

- With the penetration of mobile devices and ICT, various government and public enterprises are dependent on information infrastructure services. However, this dependency has become a vulnerable factor for numerous business enterprises, due to the rise in cybersecurity threats. The majority of the companies (and countries) realize that cyber threat is one of the most serious economic security challenges they face.

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Key Market Trends

Hybrid Segment to Gain Significant Importance over the Forecast Period

- While many companies are looking for simple security solutions through cloud deployment, the complicated nature of cyber threats is forcing the enterprises to look beyond conventional security testing mechanisms to address their security needs. There is a need to incorporate strong security practices in every step of the software development lifecycle, which requires collaboration over the cloud.

- On the other hand, companies are also required to run their security tools. As a result, the hybrid solutions have emerged as the most feasible solution for organizations.

North America to Hold Major Share

- The North American region is a technology hub. Therefore, the federal government has made very stringent rules regarding security testing services. Moreover, it is made compulsory for industries, such as BFSI, to adhere to compliance testing.

- According to ITU, North America features as the most pro-active and committed region, in terms of cybersecurity-based initiatives. The GCI score given to the major countries (United States - 0.91 and Canada - 0.81) further reinforces their commitment toward building a robust cybersecurity framework, coupled with enhanced security testing methodologies.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Security Testing Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

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