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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Security Testing Market Analysis by Region
North America leads the market due to the implementation of various security testing regulations
North America accounts for a substantial share in the market due to the presence of prominent market players who offer cloud-based security solutions. In United States, the unprecedented levels of cyber-attacks have led to increased government regulations for security testing, such as the Cybersecurity Information Sharing Act (CISA), which encourages the sharing of threat information to help prevent and respond to cyber-attacks, the Federal Information Security Management Act (FISMA), which sets standards for federal agencies to manage and protect their information systems, the Payment Card Industry Data Security Standard (PCI DSS), which requires merchants and financial institutions to conduct regular security testing and vulnerability assessments to ensure the security of cardholder data, and the General Data Protection Regulation (GDPR), a European Union regulation that emphasises the importance of regular security testing to protect sensitive data.
Asia Pacific is an emerging security testing market due to the increasing need to mitigate the risks associated with identity-related cyberattacks. China introduced provisions to its Cybersecurity Law in 2018, giving state agencies authority to remotely conduct penetration testing, carried out by the Ministry of Public Security. Singapore's Cyber Security Agency runs the Cybersecurity Labelling Scheme, under which devices receive a rating based on the level of cybersecurity provisions its manufacturers have taken. Moreover, India also has introduced several regulations, such as the National Cyber Security Policy 2013 and the IT Rules, 2021, to improve cybersecurity and protect against cyber threats.
Security Testing Market Report Snapshots
Security Testing Market Growth
Security Testing Market Trends
Security Testing Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the security testing market reached an approximate value of USD 10.52 billion.
The market is expected to grow at a CAGR of 18.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to USD 48.95 billion by 2032.
The major drivers of the market include growing cyberattacks, rapid digitalisation, and the surging popularity of BYOD and remote work models.
Key trends aiding market expansion include the growing adoption of insider threat assessment practices in security testing, increased implementation of automated security testing, and strategic initiatives adopted by market players.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Various testing tools are code review tool, software testing tool, web application testing tool, and penetration testing tool, among others.
Key players in the market are AT&T Inc., IBM Corporation, HCL Technologies Ltd., Cigniti Technologies Limited, Open Text Corporation (Micro Focus International Limited), Veracode, Inc., Secureworks, Inc., Rapid7 Inc., Checkmarx Ltd., and Synopsys, Inc., among others.
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