Security Testing Market Size
Market Outlook:
Base Year Value (2023)
USD 8.99 Billion
CAGR (2024-2032)
20.6%
Forecast Year Value (2032)
USD 48.52 Billion
Historical Data Period
2019-2023
Largest Region
North America
Forecast Period
2024-2032
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Market Dynamics:
Growth Drivers & Opportunity:The increasing adoption of cloud technology, rising cyber threats, and stringent government regulations are driving the growth of the security testing market. Companies are increasingly adopting cloud-based solutions, which require robust security measures to protect sensitive data. The growing number of cyber threats and attacks have also increased the demand for security testing services to identify and address vulnerabilities in IT systems. Additionally, stringent government regulations mandating organizations to adhere to cybersecurity standards are further fueling the growth of the security testing market.
Industry
Report Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Type, Enterprise Size, Deployment Model, And Industry Vertical |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | Accenture, Applause App Quality,, Checkmarx, Cisco, GitLab, Hewlett Packard Enterprise Development LP, IBM, Intertek Group PLC, Invicti, McAfee, NTT Security AppSec Solutions, OpenText, Qualys,, Rapid7, SecureWorks, Synopsys, UL LLC, Veracode |
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The high cost of security testing services and the shortage of skilled professionals are major restraints in the security testing market. Security testing services can be costly, especially for small and medium-sized enterprises (SMEs) with limited budgets. This can act as a barrier for SMEs looking to invest in security testing to protect their IT systems. Furthermore, there is a shortage of skilled professionals in the cybersecurity field, making it challenging for organizations to find and retain qualified personnel to perform security testing effectively.
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