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Security Testing Market Is Projected To Expand At A Healthy Growth Rate By 2023

Security Testing Mar

iCrowdNewswire   Jan 8, 2021  5:00 AM ET

The IT and software industry has undergone various advancements paving the way for a number of opportunities. However, with these advancements, there has been increased risk of cyber threats and data loss. Considering the increasing need for data protection, efficient security systems are being deployed across various enterprises and industrial verticals. The major features of security testing are protection and secure access to data. These features are suitable for both web-based and desktop-based applications. The factors contributing to the growth of security testing market are the increasing need for protection of customer data and web and mobile applications, increased adoption of cloud-based security solutions, and rising number of cyber attacks and need for improved security.

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Key players

The key players in the security testing market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – Cisco Systems, Inc. (US), Hewlett Packard Enterprise (US), IBM Corporation (US), Qualys, Inc. (US), WhiteHat Security (US), Applause App Quality, Inc. (US), Veracode (US), Checkmarx (Israel), UL LLC (Netherlands), and Intertek Group Plc. (UK). These players contribute a major proportion towards market growth.
Apart from the top key players, there are other players that contribute nearly 30-35 % in the security testing market. These include Valency Networks Pvt Ltd (India), Capgemini SE (France), Wipro Limited (India), Cognizant Technology Solutions Corp (US), Infosys Limited (India), Tata Consultancy Services Limited (India), Hexaware Technologies Limited (India), Zensar Technologies Limited (India), CloudBees (US), Symetrics (Netherlands), Rohde & Schwarz UK Ltd (Germany), Beyond Security (US), TraceSecurity (US) and others.

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Regional Analysis

The global market for security testing is driven by increasing adoption rate of the Internet of Things, cloud solutions across different industries, and growing demand for software-based networking. The market is estimated to grow at a significant rate during the forecast period from 2017 to 2023. The geographical analysis of security testing market is covered for major regions such as North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to lead the security testing market during the forecast period. North America is an established region in terms of IT infrastructure and is widely known as an early adopter of new technologies. The US is one of the major contributors in North America with leading market share. US has a higher concentration of major players and holds nearly 68% of the key IT vendors.

On the other hand, Europe closely follows North America in information & technology sector. Countries such as Germany, the Netherlands, and the UK are among the highest contributing nations in terms of IT advancement and technological developments. One of the major factors responsible for the growth of security testing market is the deployment of data centers across industries due to which enterprises are realizing the need to implement security testing solutions.

Asia-Pacific is expected to register the highest growth during the forecast period. Adoption of wireless technology for industrial operations, cloud services, and increased government initiative towards digitization are the major factors contributing to the growth of Asia-Pacific market. Countries like China, India, South Korea, and Taiwan are enhancing their existing communications system technology.

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