Mobile Application Security Testing is the fastest growing segment fueling the growth of Security Testing Market

 

Security Testing Market

The global Security Testing Market is estimated to be valued at US$ 4.18 Bn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Security testing helps organizations identify vulnerabilities in applications, infrastructure, and processes. Through a variety of testing techniques like static analysis, dynamic analysis, interactive application security testing (IAST), software composition analysis (SCA), and more, security testing provides visibility into threats before they can be exploited. This helps organizations address issues proactively and ensure their systems and data remain secure.

 

Market key trends:

One of the major trends in the security testing market is the increasing adoption of cloud-based security testing. With more applications and workloads moving to the cloud, cloud-based security testing provides comprehensive visibility and control. Cloud-based security testing services allow testing to be done from anywhere and help achieve compliance requirements. The results are hosted securely in the cloud and can be accessed from any device. This drives the demand for cloud-based security testing.

Segment Analysis

The global security testing market is segmented into application security testing, network security testing, device security testing, and social engineering. The application security testing segment dominated the market in 2023 and is expected to continue its dominance during the forecast period. This is because application security testing helps identify vulnerabilities and ensure confidentiality, integrity, and availability of the applications. It also enables compliance with industry standards and regulations.

 

Key Takeaways

The Global Security Testing market Size is expected to witness high growth, exhibiting a CAGR of 16% over the forecast period, due to increasing concerns around data breaches and cyberattacks.

 

Regional analysis

North America dominated the global security testing market in 2023 and is expected to continue dominance during the forecast period. This is due to early adoption of advanced technologies and the presence of major security testing vendors in the region. Asia Pacific is expected to grow at the highest CAGR during the forecast period due increasing digitalization and growing cybersecurity budgets in countries such as China and India.

 

Key players

Key players operating in the security testing market are Synopsys, Micro Focus, IBM, Rapid7, TietoEVRY, Trustwave, SecureWorks, Cigniti, WhiteHat Security, and Veracode. The market leaders are focusing on new product launches and partnerships with other players to gain more market share. For instance, in 2022, IBM partnered with Anthropic to deliver AI-powered security testing solutions to help enterprises in enhancing their application security.

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https://www.dailyprbulletin.com/security-testing-market-size-share-growth-outlook-2023/

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