The global security testing market is poised for high growth owing to growing emphasis on adherence to safety standards across several industry verticals. With the advent of numerous applications and growing cyber security threats, the demand for security testing services has increased. Need for ensuring that the systems and applications are free from loopholes to prevent data loss is expected to drive the market. It also helps in detecting potential weaknesses in the system which may lead to significant information loss on part of the organization.
Increased development of mobile-based, web-based, and desktop-based applications and their high rate of deployment in several industry verticals are expected to be crucial drivers for the security testing market growth. Increased security threats have encouraged security testing to address potential system vulnerability. Stringent federal & governmental regulations are expected to favorably impact market growth over the forecast period. Lack of domain specific tools, limited knowledge about security testing, and excessive deployment and maintenance costs are expected to restrain market growth.
The security testing market can be broadly segmented into application services, application types, tools, deployment models, industry verticals, and network services. Application services include enterprise/desktop application, mobile application, web application, and cloud application. Application types can be bifurcated into SAST (Static Application Security Testing) and DAST (Dynamic Application Security Testing). The tools can be categorized as automated testing tools, code review tools, penetration testing tools, and web testing tools. On the basis of deployment models, the market can be bifurcated into on-premise deployment and cloud deployment. Some of the industry verticals which deploy security systems further include retail, healthcare & life sciences, BFSI, IT & Telecom, and Government & Public utilities. Network services include Intrusion Detection System and Intrusion Prevention system (IDS/IPS) testing, Virtual Private Network (VPN) testing, firewall testing, and Universal Resource Locator (URL) / Unified Threat Management (UTM) testing.
Several leading players have developed solutions for addressing network security. IBM offers a portfolio of application vulnerability management solutions to manage IT security risk while addressing compliance requirements; the solutions also ensures privacy, confidentiality, assurance, and integrity while adopting new forms of secure technology such as cloud computing. Cisco’s portfolio includes several products like advance malware protection, secure data centre, content security, next generation network security, and secure access & mobility, which offer protection from threats on networks, mobile devices, endpoints, and virtual systems. Key players in the security testing market include Cisco, McAfee, Accenture, IBM, Applause, Veracode, NT objectives, HP, Cenzic, and White Hat Security.
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Amidst the COVID-19 crisis, the network security industry is poised for sustainable growth despite the foreseeable economic turbulence. Implementation of remote working policy, due to lockdown is putting unanticipated stress on remote networking technologies and causing operational technology (OT) security risk concerns over the vulnerable home network security. Furthermore, as digital infrastructure becomes a critical aspect of business strategic considerations, network security will become a competitive differentiator for businesses and overhaul their remote working strategies. We are incessantly monitoring the market dynamics and regulations while continuously assessing the impact of Covid-19 with the aim of providing you with actionable market insights. The report will account for Covid19 as a key market contributor.