The global security testing market is expected to grow from USD 3.31 billion in 2016 to USD 7.61 billion by 2021 dominated by application security testing segment with largest market size while BFSI vertical is expected to grow at a highest rate.
The security testing market is growing rapidly as the organizations are more focused on protection of valuable assets such as web & mobile applications and customer data. However, factors such as higher innovation and deployment cost affecting budgets are the major restraints in the overall growth of the market.
Application security testing is estimated to have the largest market size in 2016 as the increased deployment of web and mobile applications and the protection of these applications is the prime objective of the organizations. The growth in the application security testing is associated with the rise in security breaches targeting enterprise applications, whereby hackers try to gain access to sensitive data. Furthermore, the same segment will grow at the highest CAGR during the forecast period, due to the rising need for improved security because of increased deployment of third-party applications.
Security testing solutions have been deployed across various industry verticals, including government & public utilities, Banking, Financial Services, and Insurance (BFSI), IT & telecom, healthcare, retail, and others. The BFSI vertical is expected to witness the highest CAGR during the forecast period because of the increasing adoption of web and mobile applications, which are prone to advanced cyber-attacks.
APAC includes emerging economies, such as India and China, which are rapidly deploying security testing solutions. This is mainly due to the digitization of businesses and adoption of cloud services by small, medium, and large enterprises in the region.
The report includes the study of key players offering security testing services; Cisco Systems, Inc. (U.S.), Hewlett Packard Enterprise (U.S.), IBM Corporation (U.S.), Qualys, Inc. (U.S.), White Hat Security (U.S.), Applause App Quality, Inc. (U.S.), Veracode (U.S.), Checkmarx (Israel), UL LLC (Netherlands), and Intertek Group plc. (U.K.) are some of the companies profiled in the report.
The report includes in-depth competitive analysis of these key players in the security testing market, with their company profiles, SWOT analysis, recent developments, and key market strategies. In the process of determining and verifying, the global security testing market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (27%), Tier 2 (48%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (16%) and Director Level (72%) and others (12%) from various key organizations operating in the global security testing market. The primary interviews were conducted worldwide covering regions such as North America (57%), Europe (16%), Asia-Pacific (15%) and Rest of the World (ROW) (12%).
On a related note, another research on Adaptive Security Market Global Forecast to 2021 says, Managed services segment is expected to grow at highest CAGR during the forecast period (2016-2021). Application security segment is expected to grow at highest CAGR. The overall market size is estimated to grow from USD 3.53 billion in 2016 to USD 7.07 billion by 2021, at an estimated CAGR of 14.9%. Companies like Cisco Systems, Inc. (U.S.), Juniper Networks, Inc. (U.S.),Trend Micro, Inc. (Japan), FireEye, Inc. (U.S.), Rapid7, Inc. (U.S.), Panda Security (Spain), Illumio (U.S.), EMC RSA (U.S.), Aruba, a Hewlett Packard Enterprise company (U.S.), and Cloudwick have been profiled in this 189 pages research report available at