Global Security Testing Market to Reach US$ 54.3 Billion by 2032, Propelled by the Rising Cases of Cybercrimes

September 26, 2022 | Technology & Media

The latest report by IMARC, titled “Security Testing Market Report by Type (Application Security Testing, Network Security Testing, Device Security Testing, Social Engineering, and Others), Testing Tool (Web Application Testing Tool, Code Review Tool, Penetration Testing Tool, Software Testing Tool, and Others), Deployment Mode (On-premises, Cloud-based), End User (BFSI, Healthcare, IT and Telecom, Retail and E-Commerce, Education, and Others), and Region 2024-2032”, finds that the global security testing market reached a value of US$ 10.9 Billion in 2023. Security testing refers to a system that discovers threats, vulnerabilities, and risks in a software application, thus preventing malicious acts from intruders. Security tests are used to uncover all possible weaknesses and loopholes of the software system, which may possibly lead to a loss of information, reputation, and revenue. In recent years, security testing has gained momentum as it maintains the functionality of an information system. As a result, it is majorly employed in the small, medium, and large-scale industries.


Global Security Testing Market Trends:

One of the primary factors driving the market is the rising cases of cybercrimes due to the growing trend of automation in various industry verticals and rapid digitalization. Additionally, the increasing trend of work-from-home models, on account of the sudden outbreak of coronavirus disease (COVID-9), has offered network connections to various devices with different security controls, thus increasing security concerns. This, along with the extensive adoption of cloud-based security testing and the development and innovation of new technologies, is creating a positive market outlook. Furthermore, the growing penetration of mobile applications and the Internet of Things (IoT) has escalated the demand for security testing to provide integrity, confidentiality, authentication, authorization, and non-repudiation. Apart from this, governments of various nations are focusing on the introduction of various new technologies in software security testing, including DevSecOps, DevOps, and Agile. Moreover, with the exponential growth in the e-commerce industry, organizations are opting for security testing solutions that help reduce the threat landscape by assisting developers in fixing these security threats. Looking forward, IMARC expects the market value to reach US$ 54.3 Billion by 2032, expanding at a CAGR of 18.9% during the forecast period (2024-2032).


Market Summary:

  • Based on the type, the market has been divided into application security testing, network security testing, device security testing, social engineering, and others. Currently, network security testing represents the largest market segment.
  • On the basis of the testing tool, the market has been segmented into web application, code review, penetration testing, software testing, and other tools. Penetration testing tools currently dominate the market.
  • Based on the deployment mode, the market has been bifurcated into on-premises and cloud-based. At present, cloud-based security testing accounts for the majority of the overall market share.
  • On the basis of the end user, BSFI exhibits a clear dominance in the market. Other major segments are healthcare, IT and telecom, retail and e-commerce, and education.
  • Region-wise, North America (the United States and Canada) holds the leading position in the market. Other major regions include Asia-pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Itay, Spain, Russia and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been analyzed, with some of the key players being Accenture plc, Applause App Quality Inc., Checkmarx Ltd., Cisco Systems Inc., HelpSystems LLC, Hewlett Packard Enterprise Development LP, International Business Machines Corporation, McAfee LLC, Nippon Telegraph and Telephone Corporation, OffSec Services Limited, Qualys Inc. and Veracode Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Testing Tool, Deployment Mode, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Accenture plc, Applause App Quality Inc., Checkmarx Ltd., Cisco Systems Inc., HelpSystems LLC, Hewlett Packard Enterprise Development LP, International Business Machines Corporation, McAfee LLC, Nippon Telegraph and Telephone Corporation, OffSec Services Limited, Qualys Inc. and Veracode Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Security Testing Market to Reach US$ 54.3 Billion by 2032, Propelled by the Rising Cases of Cybercrimes
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARATI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More
DEinternational Egypt

IMARC did an outstanding job in preparing our study. They were punctual and precise, delivering all the data we required in a clear and well-organized format. Their attention to detail and ability to meet deadlines was impressive, making them a reliable partner for our project.

Read More