Security Testing Market: Unveiling Comprehensive Analysis, Emerging Trends, and Future Forecasts - Explore Key Drivers of Growth and Technological Advancements

The new report published by The Business Research Company, titled "Security Testing Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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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.

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.

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

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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, 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

Contents of the report:
1. Executive Summary
2. Security Testing Market Report Structure
3. Security Testing Market Trends And Strategies
4. Security Testing Market - Macro Economic Scenario
5. Security Testing Market Size And Growth
…..
27. Security Testing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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