The Global Security Testing Market Estimated to Reap $22549.15 Million in Revenue by 2028

A recent study by Triton Market Research titled 'Global Security Testing Market' comprises the Global Analysis and Forecasts by Testing Tools (Software Testing Tool, Code Review Tool, Penetration Testing Tool, Web Application Testing Tool, Other Testing Tools), End-user (Government, Retail, IT & Telecom, Healthcare, BFSI, Manufacturing, Other End-user Industries), Deployment Mode (Cloud, On-Premise), Type (Application Security Testing [Web Application Security Testing, Enterprise Application Security Testing, Mobile Application Security Testing, Cloud Application Security Testing], Network Security Testing [VPN Testing, Firewall Testing, Other Service Types], Testing Type [Interactive Application Security Testing, Runtime Application Self Protection, Static Application Security Testing, Dynamic Application Security Testing]), and by Geography (North America, Latin America, Middle East and Africa, Asia-Pacific, Europe).

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Triton's report estimates the global security testing market to surge at a CAGR of 24.28% during the projected period of 2021-2028, attaining revenue worth $22549.15 million by 2028.

Security testing refers to the adoption of software that assists in identifying potential risks in systems that can lead to the loss of valuable information. Several industries have deployed security testing solutions to mitigate the threats pertaining to cyber attacks or data breaches.

Data breaches can have a negative impact on foreign direct investments, leading to significant fluctuations in the economy. Moreover, security breaches in government organizations can adversely affect public security, which has compelled governments across the world to concentrate on adopting security testing solutions. Hence, security needs driven by government rules are fueling the growth of the studied market.

Additionally, the surge in security threats and rising network attacks, are factors driving the expansion of the security testing market.
However, lack of testing knowledge and shortage of skilled cyber security personnel are major factors restricting the overall growth of the security testing market.

The security testing market is sectioned into testing tools, end-user, deployment mode, and type. Based on testing tools, the market is branched into software testing tool, code review tool, penetration testing tool, web application testing tool, and other testing tools. In terms of end-user, it is divided into government, retail, IT & telecom, healthcare, BFSI, manufacturing, and other end-user industries. The end-user section is subdivided into cloud and on-premise.

Further, the type section is broadly divided into application security testing, network security testing, and testing type. The application security testing is sub-sectioned into web application security testing, enterprise application security testing, mobile application security testing, and cloud application security testing. Likewise, the network security testing is trifurcated into VPN testing, firewall testing, and other service types.

The testing type segment division is as per interactive application security testing, runtime application self protection, static application security testing, and dynamic application security testing.

The Middle East and Africa region is estimated to witness the fastest growth rate in the security testing market through the projected phase 2021-2028. Among the countries, Turkey is gaining momentum in developing security systems for operational technology and ICS. Moreover, it is concentrating on transforming the economic system into a knowledge-based system. This creates several investment opportunities in the development of various technologies. Similarly, the UAE has introduced an innovative strategy enabling the organizations to adopt advanced technologies to enhance their product offering, resulting in the rise in the fintech industry.

Therefore, these factors are likely to boost the demand for security testing solutions, thereby augmenting the security testing market's progression on a large scale.

Cisco Systems Inc, iViZ Security Inc, Veracode Inc, Paladion Networks Pvt Ltd, Hewlett-Packard Company, Core Security Technologies Inc, Offensive Security LLC, Rapid7, IBM Corporation, ControlCase LLC, McAfee LLC, Checkmarx Ltd, Maveric Systems Ltd, Applause App Quality Inc are major competitors thriving in the market.

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Question & Answer: Security Testing Market

Question 1: What factors are driving the growth of the security testing market?
Answer: Data breaches can have a negative impact on foreign direct investments, leading to significant fluctuations in the economy. Moreover, security breaches in government organizations can adversely affect public security, which has compelled governments across the world to concentrate on adopting security testing solutions. Hence, security needs driven by government rules are fueling the growth of the studied market.

Additionally, the surge in security threats and rising network attacks, are factors driving the expansion of the security testing market.

Question 2: What factors are restricting the overall growth of the security testing market?
Answer: The lack of testing knowledge and shortage of skilled cyber security personnel are major factors restricting the overall growth of the security testing market.

Question 3: Which region is estimated to witness the fastest growth rate in the security testing market?
Answer: The Middle East and Africa region is estimated to witness the fastest growth rate in the security testing market through the projected phase 2021-2028. Among the countries, Turkey is gaining momentum in developing security systems for operational technology and ICS. Moreover, it is concentrating on transforming the economic system into a knowledge-based system. This creates several investment opportunities in the development of various technologies. Similarly, the UAE has introduced an innovative strategy enabling the organizations to adopt advanced technologies to enhance their product offering, resulting in the rise in the fintech industry.

Therefore, these factors are likely to boost the demand for security testing solutions, thereby augmenting the security testing market's progression on a large scale.

Question 4: Which are the major competitors thriving in the security testing market?
Answer: Cisco Systems Inc, iViZ Security Inc, Veracode Inc, Paladion Networks Pvt Ltd, Hewlett-Packard Company, Core Security Technologies Inc, Offensive Security LLC, Rapid7, IBM Corporation, ControlCase LLC, McAfee LLC, Checkmarx Ltd, Maveric Systems Ltd, Applause App Quality Inc are major competitors thriving in the market.

Related Report:

Global Mobile Security Market - https://www.tritonmarketresearch.com/reports/mobile-security-market#report-overview

The global mobile security market is likely to display growth in revenue during 2021-2028 at a CAGR of 14.35%. The market is anticipated to gain revenue worth $8444.99 million by 2028.

Mobile security helps protect smart devices from major threats, including viruses, spyware, and data theft. Moreover, these solutions block unsolicited calls and messages that risk user's data.

Factors such as the rise in the need to provide security to video streaming content, along with an increase in the number of mobile payments, are boosting the evolution of the mobile security market. Additionally, open OS and the rise in ML and AI use in mobile security applications are key factors creating opportunities for the studied market.

However, the elevated cost of these solutions and complexity in designing embedded security solutions are negatively impacting the mobile security market's growth.

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