Security Testing Market
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What Is the Expected CAGR for the Security Testing Market Through 2025?
In recent times, there has been an explosive expansion in the size of the security testing market. It’s projected to inflate from $12.54 billion in 2024 to a staggering $15.15 billion in 2025, with a compound annual growth rate (CAGR) of 20.8%. The reasons for this growth in the past period are multifaceted and can be traced back to instances of data breaches and cyber-attacks, strict regulatory compliance requirements, the widespread use of mobile devices, cognizance of internal threats, an increase in cybersecurity threats, and a focus on securing global supply chains.
What’s the Projected Size of the Global Security Testing Market by 2029?
In the coming years, significant expansion is anticipated for the security testing market. The market is projected to surge to $34.59 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 22.9%. The expected escalation during the forecast period can be credited to factors like the adoption of a zero trust security framework, heightened regulatory focus on cybersecurity, security for remote workforce, emphasis on security awareness education, automation in vulnerability remediation, and shift towards continuous security testing. Major trends for the forecast period encompass a shift-left strategy in security testing, an increase in the adoption of deVops, concentration on automated security testing, continuous surveillance and threat intelligence, API security testing, cloud security testing solutions, and IoT security testing.
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Top Growth Drivers in the Security Testing Industry: What’s Accelerating the Market?
The escalating incidence of cybercrimes globally is anticipated to boost the expansion of the security testing market in the future. Cybercrime involves any unlawful activity that employs a computer, a networked device, or a network. Security testing is crucial in thwarting cybercrimes since it can stop hackers from gaining access to confidential data and prevent companies from going bankrupt. For illustration, in March 2023, a report by the Enforcement Directorate (ED) in India revealed that instances of money laundering registered in the fiscal year of 2022-23 reached 579, illustrating a substantial increase compared to prior years. Moreover, the ED disclosed a total of 3,497 money laundering cases documented over the preceding five years, reflecting an escalating trend in enforcement measures against financial crimes. Therefore, the worldwide increase in cybercrimes is fuelling the expansion of the security testing market.
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What Trends Will Shape the Security Testing Market Through 2029 and Beyond?
Leading firms in the security testing market are putting their efforts into designing innovative technological solutions like Active One-Time Scanning. This strategy aims to strengthen their swift vulnerability detection skills, enhance adherence, and efficiently curb cybersecurity threats. Active one-time scanning is a cybersecurity approach that involves a thorough, immediate evaluation of a network or system to spot weaknesses during scheduled maintenance slots. For instance, in October 2023, the automation industry giant from Germany, Siemens, introduced SINEC Security Inspector. The SINEC Security Inspector acts as a software framework that facilitates active scanning of individual network devices, network parts, or whole networks. This feature lets organizations spot vulnerabilities and effectively gauge the safety stance of their systems.
What Are the Main Segments in the Security Testing Market?
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
Subsegments:
1) By Application Security Testing: Static Application Security Testing (SAST), Dynamic Application Security Testing (DAST), Interactive Application Security Testing (IAST), Mobile Application Security Testing
2) By Network Security Testing: Vulnerability Assessment, Penetration Testing, Network Scanning
3) By Device Security Testing: IoT Device Security Testing, Hardware Security Testing, Endpoint Security Testing
4) By Social Engineering: Phishing Simulation, Awareness Training, Red Teaming Exercises
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Which Top Companies are Driving Growth in the Security Testing Market?
Major companies operating in the security testing market 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, accenture* 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
Which Regions Will Dominate the Security Testing Market Through 2029?
North America was the largest region in the security testing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the security testing market report forecast period. The regions covered in the security testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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