Global Security Testing Market 2024-2033: Trends, Analysis & Growth Forecast

The security testing market size has grown exponentially in recent years. It will grow from $10.5 billion in 2023 to $12.8 billion in 2024 at a compound annual growth rate (CAGR) of 21.9%. The growth in the historic period can be attributed to data breaches and cyber attacks, stringent regulatory compliance, mobile device proliferation, awareness of insider threats, rising cybersecurity threats, global supply chain security.

The security testing market size is expected to see exponential growth in the next few years. It will grow to $28.01 billion in 2028 at a compound annual growth rate (CAGR) of 21.6%. The growth in the forecast period can be attributed to zero trust security framework adoption, regulatory emphasis on cybersecurity, remote workforce security, focus on security awareness training, automated vulnerability remediation, shift to continuous security testing. Major trends in the forecast period include shift-left approach to security testing, rise in adoption of devsecops, focus on automated security testing, continuous monitoring and threat intelligence, application programming interface (api) security testing, cloud security testing solutions, iot security testing.

Market Overview -
Security testing refers to a system that focuses on identifying all potential holes and weaknesses in the system that could result in the loss of data or the organization's reputation. This provides numerous benefits to the customer, such as select features such as real-risk evaluation and cyber defense ability testing.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=8003&type=smp

Rising Cybercrimes Fueling Security Testing Market Growth
The rising cybercrimes across the world are expected to propel the growth of the security testing market going forward. Cybercrime refers to any illegal activity that uses a computer, networked device, or network. Security testing helps in avoiding cybercrimes, as it can prevent hackers from obtaining and abusing sensitive data and prevent a company from going out of business. For instance, in June 2022, according to the Federal Bureau of Investigation (FBI), a US-based national security and law enforcement agency, in the FBI's Internet Crime Report 2021, the public reported a record 84.73k reports of cybercrime to the FBI, a 7% increase over 2020 with losses of more than $6.9 billion. Therefore, rising cybercrimes across the world are driving the growth of the security testing market.

Competitive Landscape -
Major companies operating in the security testing market report are AT&T Inc., Cigniti Technologies Limited, International Business Machines Corporation, McAfee Corp, Micro Focus, Rapid7, Cisco Systems Inc., SecureWorks Inc., F-Secure Corporation, Data Theorem Inc., Hewlett Packard Enterprise Development LP, NTT Security AppSec Solutions Inc., Synopsys Inc., Veracode, Now Secure, Parasoft, ScienceSoft, WhiteHat Security, Kryptowire LLC, Accentur*e PLC, Aon plc, AppSec Labs, Bishop Fox, Capgemini SE, Check Point Software Technologies Ltd., Coalfire Systems Inc., Cybercom Group AB, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, FireEye Inc., Fortinet Inc., HCL Technologies Limited, Infosys Limited

Revolutionizing Security Testing With Technological Innovations
Technological innovations are a key trend gaining popularity in the security testing market. Many companies operating in the security testing are developing new technologies to strengthen their position in the security testing market. For instance, in May 2021, Imvision, a Canada-based API security technology company, launched the world's first Business Logic Application Security Testing (BLAST) to boost enterprise API security. The BLAST can incorporate and enforce security testing standards within the development cycle, cutting costs and shortening the time needed to fix problems. BLAST uses NLP-based technology to examine each API's discourse and comprehend the application's actions. The API business logic has been discovered through API discovery, through which users can simulate attacks to alter the API. This reveals weaknesses and sends insights and recommendations back to developers automatically.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/security-testing-global-market-report

Key Segments -
The security testing market covered in this report is segmented -
1) By Type: Application Security Testing, Network Security Testing, Device Security testing, Social Engineering
2) By Deployment Mode: On-Premises, Cloud
3) By Organization Size: SMEs, Large Enterprises
4) By Verticals: BFSI, Healthcare, IT, Telecom, Retail and eCommerce, Education, Other Verticals

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.