The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Understanding the Growth Trajectory

The security testing market has experienced exponential growth in recent years, driven by various factors. Key statistics include:

• Market size soared from $10.5 billion in 2023 to $12.8 billion in 2024, with a remarkable CAGR of 21.9%.
• By 2028, the market is anticipated to reach $28.01 billion, maintaining a robust CAGR of 21.6%.
• Contributing factors to this growth include rising cybercrimes, regulatory emphasis on cybersecurity, and the adoption of innovative security frameworks.

Rising Cybercrimes Fuel Market Expansion
The proliferation of cybercrimes worldwide serves as a significant driver for the security testing market. Key points to consider:

• Cybercrime incidents reached record levels in 2021, with losses exceeding $6.9 billion, according to the FBI.
• Security testing plays a crucial role in preventing data breaches and cyber-attacks, safeguarding sensitive information.
• Major players in this market include AT&T Inc., McAfee Corp, and Cisco Systems Inc., among others.

Revolutionizing Security Testing Through Innovations
Technological innovations are reshaping the landscape of security testing, offering enhanced capabilities and efficiency. Highlights include:

• Imvision’s BLAST technology revolutionizes API security testing, offering comprehensive protection within the development cycle.
• These innovations address evolving cybersecurity threats and streamline security testing processes.
• Accenture’s strategic acquisition of Sentor strengthens its cybersecurity capabilities, reflecting the industry’s focus on expanding expertise and resources.

Segmentation Insights
Understanding the segmentation of the security testing market provides valuable insights into its dynamics:

1. By Type: Application Security Testing, Network Security Testing, Social Engineering, etc.
2. By Deployment Mode: On-Premises, Cloud
3. By Organization Size: SMEs, Large Enterprises
4. By Verticals: BFSI, Healthcare, IT, Telecom, Retail, Education, etc.

Regional Dynamics: North America Leads, Asia-Pacific Emerges
North America remains a dominant player in the security testing market, while Asia-Pacific emerges as a rapidly growing region. Key insights include:

• North America accounted for the largest market share in 2023, driven by advanced cybersecurity infrastructure and regulatory frameworks.
• Asia-Pacific’s expected growth reflects increasing cybersecurity investments and awareness in the region.

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The Security Testing Global Market Report 2024  provides an overview of the security testing market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The security testing market forecast analyzes security testing market size, security testing market share, leading competitor and their market positions.

The Table Of Content For The Security Testing Market Include:
1. Security Testing Market Executive Summary
2. Security Testing Market Segments
3. Security Testing Market Size And Security Testing Market Growth Rate
4. Key Security Testing Market Trends
5. Major Security Testing Market Drivers
……
25. Key Mergers And Acquisitions In The Security Testing Market
26. Top Security Testing Companies
27. Security Testing Market Opportunities And Strategies
28. Security Testing Market, Conclusions And Recommendations
29. Appendix

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