Security Testing Market

[358 Pages Report] The global security testing market size is projected to grow from USD 14.5 billion in 2024 to USD 43.9 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 24.7% during the forecast period. The security testing market expansion is driven by a plethora of factors, such as the shift of cyberattacks from traditional modes like viruses and worms to more advanced forms like Adware, Spyware, Keyloggers, Rootkits, Phishing, Spear Phishing, Bots, Botnets, and Ransomware. These sophisticated malwares enable hackers to launch customized, malicious attacks, making robust security measures more critical than ever. For instance, Dollar Tree's supply chain attack and the breach at MGM Resorts in 2023 underscore the urgent need for enhanced security testing. Furthermore, the growing need for better endpoint security, with the rising use of business- critical web and mobile apps also acts as a driver to the market.

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Impact of gen ai/ai in the Security Testing market

SECURITY TESTING MARKET DYNAMICS

Driver: Need for robust security testing to ensure user experiences and prevent vulnerabilities

The fastness of today's digital release cycles has demanded the development of robust security testing to ensure that the user experience is seamless. Companies, under increased pressure from markets, have to push out working applications that are secure within the shortest time possible, as witnessed in platforms such as Google Play Store and smartphone manufacturers who are releasing new models every six months. However, this speed has considerable challenges, as people have witnessed with the recent pcTattletale and Microsoft Azure incidents. These breaches underline the fact that security testing is very critical during the development cycle, even during post-launch, to ensure that undetected vulnerabilities do not have a huge effect on operations and reputation. As companies race toward faster release cycles, security testing ought to be updated and integrated continuously to address possible threats and ensure applications and devices perform in secure and reliable ways amid a fast-moving environment. This proactive attitude reduces risks, secures user data, and engenders trust in the face of increasing competition and digital dependency.

Restraint: Internal vulnerabilities hinders security testing

The internal vulnerabilities is a major hinderance that limit the effectiveness of security testing. Most companies will be able to solve their external security threats and technical weakness problems through successful comprehensive security assessments. But insider threats such as malicious actions by employees, third-party vendors, and privileged users-often lead to severe breaches that traditional methods may not detect. For example, the incidents in 2023 showed how social engineering, zero-day vulnerabilities, and misuse of privileges caused significant financial and reputational damage.

Opportunity: Emergence of technologies like AI and ML in security testing

Emergence of artificial intelligence (AI) and machine learning (ML) are expected to create lucrative opportunities for the players operating in the security testing market. The AI-based tools help organization’s to automatize anomaly detection, pattern recognition, and predict vulnerabilities in their security system thereby enabling a more flexible and intelligent approach towards security. This reactive method aims to improve the efficiency of information security testing by enabling companies to rapidly address new threats as well as secure more sensitive data. As Al and ML technologies continue to grow, their integration will provide the basis for the vast improvements in threat detection and response, which will allow organizations to be far ahead of the new risks and better their defenses.

Challenge: Lack of cybersecurity

The skilled security professional’s shortage challenges the organization’s capability to meet their required and evolving cybersecurity needs, thereby making them vulnerable to cyberattacks. Fortinet's 2024 Global Cybersecurity Skills Gap Report showed that 70% of organizations consider the lack of cybersecurity skills to be a major risk. Moreover, almost 90% of organizations have experienced breaches in the last year, mostly because of a lack of expertise. The rapid progression of cyber threats in the world is critical as it creates the need for knowledgeable cybersecurity professionals who can effectively tackle the challenges and make sure that the organizational assets are secure.

Security Testing Market Ecosystem

By application security testing tools, IAST is expected to grow at the highest CAGR during the forecast period.

IAST security testing tools are increasing at the highest rate in the security testing market as it provides identification of Security vulnerabilities in real-time when applications are running, which allows developers to fix the issues immediately without impacting the development process. For organizations that are adopting agile methodology where speed and efficiency is the paramount, it plays a major role. Also, IAST security testing tools integrate easily with Continuous Integration/Continuous Deployment (CI/CD) pipelines making applications more secure without adding lot of overhead.

By organization size, the large enterprises segment accounts for the largest market size during the forecast period.

The Large enterprises dominates the security testing market as they are the early adopters of security testing solutions as their threat landscape is wider as compared to the SMEs. As these enterprises are large, with different types of IT infrastructure, they are faced with the troublesome task of effectively managing security on numerous applications across the enterprise. With the rapid adoption of the BYOD trend, large enterprises now not only have to protect the systems and endpoints that are interconnected to the enterprise network but must also safeguard the applications running on these endpoints.

By region, North America accounts for the highest market size during the forecast period.

North America is expected to hold the largest market share in the security testing market during the forecast period because of the presence of diversified economies, large number of security testing vendors, modernized infrastructure and technological advancements. Countries included the US and Canada seem to be ahead of the curve when it comes to the integration of AI, ML, and other technologies that significantly improves security testing. Furthermore, ongoing strategic partnerships such as between Noname Security and IBM and Cybeats Technologies and Veracode highlight the region's commitment to security measures.

Key Players

The key players in the Security Testing market are IBM (US), HCLTech (India), Synopsys (US), OpenText (UK), Cigniti (US), Qualitest (UK), Intertek (UK), DXC Technology (US), eInfochips (US), Checkmarx (US), HackerOne (US), Invicti (US), DataArt (US), Cobalt Labs (US), Trustwave (US), Contrast Security (US), Veracode (US), Qualys (US), OffSec (US), NCC Group (UK), GitHub (US), Bugcrowd (US), Applause (US), Rapid7 (US), Parasoft (US) and others.

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Scope of the Report

The study categorizes the security testing market by segments – security testing type, network security testing type, application security testing type, application security testing tools, organization size, vertical, and region.

By Security Testing Type:

• Network Security Testing
• Application Security Testing
• Device Security Testing
• Social Engineering Testing

By Network Security Testing Type:

• Network Penetration Testing
• Vulnerability Scanning
• Wifi/Wireless Security Testing
• Firewall Security Testing
• Network Configuration Auditing

By Application Security Testing Type:

• Mobile Application Security Testing
• Web Application Security Testing
• API Security Testing
• Secure Code Review

By Application Security Testing Tools:

• RASP (Runtime Application Self-Protection)
• SAST (Static Application Security Testing)
• DAST (Dynamic Application Security Testing)
• IAST (Interactive Application Security Testing)

By Organization Size:

• Large Enterprises
• SMEs

Vertical:

• BFSI
• Healthcare
• Government & Defense
• IT & ITeS
• Telecommunication
• Manufacturing
• Retail & E-Commerce
• Education
• Other Verticals

By Region:

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

Recent Developments

• In July 2024, Checkmarx and Wiz have announced an enhanced integration, which integrates Checkmarx's static application security testing (SAST) with the Wiz Cloud Security Platform, to improve application and cloud security by correlating SAST findings with cloud insights, enabling a holistic security approach from code to cloud.
• In July 2024, OpenText has launched Fortify Aviator, an advanced static application security testing (SAST) tool. Through AI, Fortify Aviator provides intelligent code repair recommendations directly into the development process that improves efficiency and understanding of security concerns.
• In August 2023, Synopsys has launched Software Risk Manager, an Application Security Posture Management solution that streamlines application security testing throughout multiple teams and projects by integrating policy-driven orchestration and vulnerability management with Synopsys' SAST and SCA engines, thereby enhancing security testing productivity and risk visibility.
• In June 2023, DXC Technology teamed up with Checkmarx to enhance software security worldwide. DXC will support and sell the Checkmarx One platform, which will be integrated into its services. The partnership provides an all-in-one AppSec solution that includes static and dynamic testing, thus accelerating and securing the development process.
• In April 2023, IBM collaborated with Noname Security to strengthen API security for its clients. It combined Noname’s advanced API security with IBM API Connect and IBM DataPower so as to offer full scope of discovery, posture management and security testing of APIs covering hybrid cloud environments against vulnerabilities & cyber threats.

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