The Global Security Testing Market Growth Accelerated By Adoption Of Advanced Technologies

Security Testing Market

Security testing helps organizations check for vulnerabilities, threats, and detect security issues in software applications and network infrastructure before and after their deployment. With widespread digital transformation across industries facilitated by technologies like IoT, cloud computing, and mobility solutions, security testing has become increasingly crucial to prevent cyber attacks. It ensures compliance with data security regulations as well as delivers assurance about system resilience through vulnerability testing, penetration testing, API testing and more.

The global Security Testing Market is estimated to be valued at US$ 4.82 Mn in 2024 and is expected to exhibit a CAGR of 7.5%  over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Adoption of advanced technologies are accelerating the growth of security testing market. Use of automation, AI/ML and DevSecOps are enabling more effective and efficient security testing. Automation helps analyze large volumes of data in less time while AI/ML based techniques leverage past vulnerability data and patterns to predict potential issues beforehand. DevSecOps integrates security at every stage of SDLC to address threats proactively. These technological advancements are allowing organizations to deploy solutions faster without compromising on security. Continuous security testing is becoming a norm with increasing frequency of code deployments and software releases. This is expected to further fuel the demand for security testing solutions in coming years.

Segment Analysis

The global security testing market is dominated by web application security testing sub segment. This is because web applications have become the main channel for delivery of services over the internet. Web applications are prone to vulnerabilities like SQL injection, cross-site scripting etc. which leaves customer data and sensitive information at risk. Therefore, security testing of web applications is critical to identify loopholes and secure them before deployment.

Key Takeaways

The global Security Testing Market Demand is expected to witness high growth over the forecast period of 2024 to 2031 driven by increasing threat of cyber attacks. The global Security Testing Market is estimated to be valued at US$ 4.82 Mn in 2024 and is expected to exhibit a CAGR of 7.5%  over the forecast period 2024 to 2031.

Regionally, North America holds the largest share of the security testing market currently due to stringent cyber security regulations and large presence of key players. However, Asia Pacific region is expected to grow at the fastest pace owing to rising adoption of digital technologies and growing cyber security budget in major countries like India and China.

Key players operating in the security testing market include Orion Engineered Carbons, Cabot Corporation, Mitsubishi Chemical Corporation, Phillips Carbon Black Limited, Birla Carbon, Sid Richardson Carbon & Energy Co., Anyang HengXu Specialty Carbon Black Co., Ltd., and Imerys Graphite & Carbon. These players are focusing on new product launches and partnerships to expand their market share. For instance, in 2022, Cabot Corporation partnered with Anthropic to launch AI-based platform for assessing software vulnerabilities.

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