Security Testing Market Size, Share, Trends, Revenue Forecast & Opportunities

Surge in web and
mobile-based business critical applications requiring higher secure endpoint
protection, enterprises implementing security measures to prevent financial
losses due to increased sophistication in cyber-attacks and stringent
government regulations are major growth factors for the market. Initiatives by
governments and enterprises with focus on digitalization and increased adoption
of cloud-based security testing as well as evolution of technologies such as
Testing-as-a-Service (TaaS) would provide lucrative opportunities for vendors
in the security testing market.

The report Security Testing Market size to grow from
USD 6.1 billion in 2020 to USD 16.9 billion by 2025, at a Compound Annual
Growth Rate (CAGR) of 22.3% during the forecast period.

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In the testing type,
application security testing segment to hold the largest market size during the
forecast period

Application security
testing is carried out to identify the vulnerabilities, threats, and overall
risks associated with the internal and external applications along with its
APIs. The market for security testing has evolved from an in-house process to a
service-based market, with rapid growth in the use of applications in
organizations. As security threats evolved, new methods of security testing
were developed. Open source tools were also developed for security testing by
companies. The major factors fueling the growth of the application security
testing market are rise in security breaches targeting web and mobile
applications and strong regulations and compliance requirements among SMEs and
large enterprises

In deployment mode,
cloud deployment to grow at a higher CAGR during the forecast period

Cloud-based security
testing solutions are not only enabling organizations to manage their costs but
also helping them in improving business agility. It is the fastest-growing
deployment model in the security testing market. SMEs prefer cloud-based
deployment, as it is cost-effective and easy to deploy. With the cloud-based
deployment of these solutions, small enterprises can assess vulnerabilities and
reduce threat landscape at a much lower cost, thus improving their customer
services. The cloud-based platform offers a centralized way to secure the web
and mobile applications in an organization, throughout the application
development lifecycle. For organizations having strict budgets on security
investments, cloud-based security testing solutions are a good fit.

North America to
hold the largest market size during the forecast period

North America, a
technologically advanced region with a high number of early adopters and the
presence of major market players, is expected to contribute the highest market
share in terms of revenues during the forecast period. Factors such as
large-scale deployment of smart devices such as smartphones, smart TVs, and
smart automobiles and the increased adoption of IoT and AI-based technologies
due to initiatives aimed at digitization and Increasing demand for cloud-based
security testing services among enterprises, especially SMEs, due to advantages
such as scalability and cost effectiveness are expected to fuel the growth of
security testing in the region.

Key Market Players

Major vendors in the
global security testing market include IBM (US), SecureWorks (US), Synopsys
(Canada), Rapid7 (US), Micro Focus (UK), Cigniti (India), AT&T (US),
WhiteHat Security (US), Veracode (US), Checkmarx (Israel), McAfee (US), Core
Security (US), ParaSoft (US), ScienceSoft (US), Data Theorem (US), Kryptowire
(US), LogRhythm. (US), PortSwigger (UK), ImpactQA (US), and NowSecure (US).

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