According to the latest report by IMARC Group, titled, “Security Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, the global security testing market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 25% during 2021-2026.
Security testing refers to a process utilized to identify loopholes and flaws in the security mechanisms that protect data and maintain the functionality of an information system. Such testing systems offer confidentiality, authentication, authorization, integrity, non-repudiation, etc. They also safeguard software, applications, data, resources, etc., against threats, malicious attacks, and vulnerabilities. Moreover, security testing aids in detecting possible security hazards that can lead to the loss of information or damage to an organization’s reputation. Some of the key areas of security testing include network, client-side application, system software, server-side application securities, etc.
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The sudden outbreak of the COVID-19 pandemic and the implementation of lockdowns across the globe are encouraging organizations to adopt remote working models for maintaining business continuity. In line with this, the growing security concerns, enabled by the increasing digitization of work functions and operations, are driving the security testing market. Additionally, the escalating threat of cybersecurity attacks resulting in substantial financial losses to individuals, enterprises, and government agencies, is also bolstering the product demand. Besides this, the growing prominence of online banking services and e-commerce platforms, coupled with the rising product demand from the banking, financial services, and insurance (BFSI) sector, is expected to drive the global security testing market over the forecasted period.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
The report has segmented the market based on type, testing tool, deployment mode and end user.
Breakup by Type:
Breakup by Testing Tool:
Breakup by Deployment Mode:
Breakup by End User:
Breakup by Region:
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