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Market Synopsis

Global Security Testing Market was valued at USD 3.67 billion in 2017 and is expected to reach USD 8.69 billion by the end of the forecast period with a CAGR of 15.72%. The global market for security testing is estimated to grow at a significant rate during the forecast period from 2018 to 2023.

With the growing adoption of cloud-based services and automation, the capabilities of industrial and enterprise networks is increasing. However, it also creates certain risks and threats associated with the security of customer data and web and mobile applications. Security testing can be considered as a type of software testing which is used to identify susceptibilities in a system and network. This is done to ensure the security of data and assets from potential threats. Security testing can be broadly classified under four different heads: network security, system software security, client-side application security, and server-side application security.
The major 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 need for improved security due to increasing cyber-attacks. However, lack of awareness regarding cybersecurity and increased adoption of freeware security applications pose challenges for the market growth. The global Security Testing Market segments has been divided into industry vertical, deployment, service and tool

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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.

Segmentation

By service type, the market is segmented into network security testing, application security testing, and device security testing. Network security testing is further segmented into firewall testing, VPN testing, and IDS/IPS testing. Application security testing is further segmented into web application security testing, mobile application security testing, cloud application security testing, static application security testing, and dynamic application security testing.

By tool, the market is segmented into penetration testing tools, web testing tools, automated testing tools, and others.

By deployment, the market is segmented into cloud and on-premise deployment.
By industry vertical, the market is segmented into Government and public sector, BFSI, IT & telecommunication, healthcare, retail, 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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