Security Testing Global Market Report 2024

Description

Security Testing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on security testing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for security testing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The security testing market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

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
Companies Mentioned: AT&T Inc.; Cigniti Technologies Limited; International Business Machines Corporation; McAfee Corp; Micro Focus
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Security testing is a systematic process aimed at identifying potential weaknesses and vulnerabilities within a system, thereby preventing potential data loss or damage to an organization's reputation. This practice offers various advantages to customers, including features like comprehensive risk assessment and testing of cyber defense capabilities.

The primary categories of security testing include application security testing, network security testing, device security testing, and social engineering. Application security testing involves improving an application's security by detecting and addressing security flaws within its source code. These testing methods can be deployed in on-premises or cloud environments and cater to various business sizes, including small and medium-sized enterprises (SMEs) and large enterprises. These security testing measures find application across multiple industries such as Banking, Financial Services and Insurance (BFSI), healthcare, Information technology (IT), telecom, retail and eCommerce, education, and other sectors.

The security testing market research report is one of a series of new reports from The Business Research Company that provides security testing market statistics, including security testing industry global market size, regional shares, competitors with a security testing market share, detailed security testing market segments, market trends and opportunities, and any further data you may need to thrive in the security testing industry. This security testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The security testing market size has grown exponentially in recent years. It will grow from $10.50 billion in 2023 to $12.80 billion in 2024 at a compound annual growth rate (CAGR) of 21.9%. Historical growth in this field can be attributed to factors such as incidents of data breaches and cyber attacks, the enforcement of strict regulatory compliance, the widespread proliferation of mobile devices, increased awareness concerning insider threats, escalating cybersecurity risks, and heightened concerns regarding 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%. Anticipated growth in the upcoming period can be linked to the adoption of the zero trust security framework, increased regulatory focus on cybersecurity measures, ensuring security for remote workforces, prioritizing security awareness training, implementing automated vulnerability remediation processes, and a shift towards continuous security testing practices. Key trends expected in the forecast period involve embracing a shift-left approach to security testing, a surge in the adoption of DevSecOps methodologies, heightened emphasis on automated security testing, continuous monitoring and leveraging threat intelligence, focusing on Application Programming Interface (API) security testing, adopting cloud security testing solutions, and implementing robust IoT security testing measures.

The escalating global cybercrime rates are anticipated to drive the growth of the security testing market. Cybercrime encompasses illicit activities employing computers, networked devices, or networks. Security testing plays a pivotal role in preventing cybercrimes by thwarting hackers' attempts to access and exploit sensitive data, thereby safeguarding businesses from potential threats. Notably, in June 2022, the Federal Bureau of Investigation (FBI) reported a record 84.73k cybercrime reports from the public in its Internet Crime Report 2021, reflecting a 7% increase over 2020, with losses exceeding $6.9 billion. The surge in cybercrimes worldwide is a significant factor propelling the growth of the security testing market.

The increasing adoption of cloud-based solutions is poised to fuel the expansion of the security testing market. Cloud-based solutions, residing on remote servers and accessible through the internet, have become integral in various business operations. Security testing, crucial for assessing the resilience and vulnerabilities of digital systems, plays a vital role in ensuring the security and integrity of cloud-based applications. The demand for comprehensive security testing solutions is further amplified by the dynamic and evolving nature of cyber threats. As of December 2021, Eurostat reported that 41% of EU enterprises utilized cloud computing, with large businesses in the EU adopting cloud computing at a rate of 72% in 2021. This marked an increase of 5 and 7 percentage points, respectively, compared to 2020. The widespread adoption of cloud-based solutions is a key driver behind the growth of the security testing market.

In the security testing market, technological innovations have emerged as a prominent trend, with companies actively developing new technologies to strengthen their market positions. In May 2021, Imvision, a Canada-based API security technology company, introduced the world's first Business Logic Application Security Testing (BLAST) to enhance enterprise API security. BLAST integrates and enforces security testing standards within the development cycle, reducing costs and accelerating problem resolution timelines. Utilizing NLP-based technology, BLAST examines each API's discourse to comprehend the application's actions. Through API discovery, users can simulate attacks to manipulate the API, uncovering vulnerabilities and automatically providing insights and recommendations to developers. This emphasis on technological innovation underscores the dynamic trends shaping the security testing market.

Key players in the security testing market are strategically focusing on the introduction of advanced security testing solutions to optimize their profits. Advanced security testing solutions involve the utilization of sophisticated techniques and tools to identify vulnerabilities and security weaknesses in IT systems, applications, and cloud infrastructure. In July 2023, New Relic, a US-based software company, launched New Relic Interactive Application Security Testing (IAST). Distinguishing itself from other security testing solutions, New Relic IAST offers advanced detection accuracy with minimal false positives, proof-of-exploit capabilities, continuous visibility, and context into security findings. It also provides guided remediation, allowing the fixing of vulnerabilities before applications go into production. The incorporation of proof-of-exploit and automation of vulnerability validation using realistic attack simulation enables security teams, DevOps, and engineers to focus on critical security threats, facilitating quicker and more confident code releases.

In June 2021, Accenture PLC, an Ireland-based IT company, made a strategic move by acquiring Sentor for an undisclosed amount. Through this acquisition, Sentor's cybersecurity team became part of the Accenture Security team in Sweden, thereby expanding Accenture's local resources and capabilities to meet the growing demand for local cybersecurity and managed security services. Sentor, a Sweden-based independent provider of cyber defense and managed security services, significantly contributed to Accenture's position in the security testing market. This acquisition aligns with the industry's focus on strengthening local cybersecurity resources and providing comprehensive managed security services to address the evolving needs of clients in the security testing market.

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, 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

North America was the largest region in the security testing market in 2023. 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.

The countries covered in the security testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The security testing market includes revenues earned by entities by providing services such as vulnerability scanning, security scanning, penetration testing, security auditing and review, ethical hacking, risk assessment, posture assessment, and authentication. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r13025

1. Executive Summary

2. Security Testing Market Characteristics

3. Security Testing Market Trends And Strategies

4. Security Testing Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Security Testing Market Size and Growth

5.1. Global Security Testing Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Security Testing Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Security Testing Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Security Testing Market Segmentation

6.1. Global Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Application Security Testing
Network Security Testing
Device Security testing
Social Engineering
6.2. Global Security Testing Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-Premises
Cloud
6.3. Global Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
SMEs
Large Enterprises
6.4. Global Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
BFSI
Healthcare
IT
Telecom
Retail and eCommerce
Education
Other Verticals

7. Security Testing Market Regional And Country Analysis

7.1. Global Security Testing Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Security Testing Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Security Testing Market

8.1. Asia-Pacific Security Testing Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Security Testing Market

9.1. China Security Testing Market Overview
9.2. China Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Security Testing Market

10.1. India Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Security Testing Market

11.1. Japan Security Testing Market Overview
11.2. Japan Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Security Testing Market

12.1. Australia Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Security Testing Market

13.1. Indonesia Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Security Testing Market

14.1. South Korea Security Testing Market Overview
14.2. South Korea Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Security Testing Market

15.1. Western Europe Security Testing Market Overview
15.2. Western Europe Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Security Testing Market

16.1. UK Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Security Testing Market

17.1. Germany Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Security Testing Market

18.1. France Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Security Testing Market

19.1. Italy Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Security Testing Market

20.1. Spain Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Security Testing Market

21.1. Eastern Europe Security Testing Market Overview
21.2. Eastern Europe Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Security Testing Market

22.1. Russia Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Security Testing Market

23.1. North America Security Testing Market Overview
23.2. North America Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Security Testing Market

24.1. USA Security Testing Market Overview
24.2. USA Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Security Testing Market

25.1. Canada Security Testing Market Overview
25.2. Canada Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Security Testing Market

26.1. South America Security Testing Market Overview
26.2. South America Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Security Testing Market

27.1. Brazil Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Security Testing Market

28.1. Middle East Security Testing Market Overview
28.2. Middle East Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Security Testing Market

29.1. Africa Security Testing Market Overview
29.2. Africa Security Testing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Security Testing Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Security Testing Market, Segmentation By Verticals, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Security Testing Market Competitive Landscape And Company Profiles

30.1. Security Testing Market Competitive Landscape
30.2. Security Testing Market Company Profiles
- 30.2.1. AT&T Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Cigniti Technologies Limited
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. International Business Machines Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. McAfee Corp
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Micro Focus
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Security Testing Market Competitive Benchmarking

32. Global Security Testing Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Security Testing Market

34. Security Testing Market Future Outlook and Potential Analysis

34.1 Security Testing Market In 2028 - Countries Offering Most New Opportunities
34.2 Security Testing Market In 2028 - Segments Offering Most New Opportunities
34.3 Security Testing Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer