Inkwood Research estimates that the Global Security Testing
Market is set to evolve at a CAGR of 23.76% in terms
of revenue during the forecasting years of 2021-2028.
“Browse 83 Market Data Tables and 62 Figures
spread over 220 Pages, along with an in-depth TOC on the Global Security Testing
Market Forecast 2021-2028.”
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Security testing is a type of software
testing that detects threats, vulnerabilities, and risks in a software application.
It also undertakes the role of identifying all possible loopholes of the
system. This will aid the developers in fixing problems through coding. This
will further prevent the loss of information and data of an organization.
Increasing
Security Threats Propel Market Growth
Wireless devices and networks are a
fundamental part of several commercial and utility services. Many business
organizations are linking their databases to massive data centers that support
cloud services. Industries are increasingly relying on big data processing,
cloud computing, and other IT services. The security of sensitive data is at
risk, given the rise of cyber terrorism. JP Morgan faced a fatal bank breach in
2016. The hackers got access to the financial information of 3500 customers.
This further resulted in JP Morgan losing its brand image and customer base.
Sony Online Entertainment Ltd faced a loss
of 24.6 million records in a network attack in 2014. Similarly, EBay Inc lost
145 million data records in 2014. There is an increased risk of security
breaches with the rising use of IoT connected devices. The Information Security
Forum (ISF) predicts a surge in data breaches during the forecast period. Thus,
the growing need to counter cyberattacks boosts the market demands.
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Cloud is
the Prominent Deployment Mode
Cloud-based security system is gaining
traction due to its benefits like cost-cutting, enhanced efficiency, ease of
customization. As a result, the companies are eagerly investing in cloud-based
technology, which is aiding many industrial players to top potential consumers.
For instance, IBM Security opened four network security testing facilities. The
integration of machine learning and analytics frameworks can simplify routine
tasks, thereby strengthening data protection. These can be hosted on a private
or public cloud. However, the evolving cyber threats and scale of attacks limit
the integration of cloud based solutions.
Asia
Pacific is at the Forefront in terms of CAGR
The rising availability of low-cost
smartphones, the scope for digital transformation, favorable government
initiatives, and increasing cyberattack cases, are among the major drivers of
market growth in the Asia Pacific. Such factors have propelled the need for
implementing security testing solutions, along with the growing usage of mobile
data and the increasing trend of BYOD.
The competitive rivalry of the market is
set on market concentration, general profitability, market penetration,
presence of global players, and bargaining power. Innovations are keeping
sustainable competition high in the market, with brand identity playing a crucial
role. Several major players have high levels of market penetration. Core
Security Technologies Inc, Offensive Security Llc, IBM Corporation, Paladion
Networks Pvt Ltd, ControlCase Llc, etc. are among the big players of the
market.
About Inkwood Research
Inkwood Research specializes in syndicated
& customized research reports and consulting services. Market intelligence
studies with relevant fact-based research are customized across industry
verticals such as technology, automotive, chemicals, materials, healthcare, and
energy, with an objective comprehension that acknowledges the business
environments. Our geographical analysis comprises of North & South America,
CEE, CIS, Middle East, Europe, Asia, and Africa.
Contact Us
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