Market Trends of Security Testing Industry
Cloud Segment to Gain Significant Importance over the Forecast Period
- The complexity of the cyber threat, forcing companies to seek alternative security testing methods than they usually do to respond to their security needs, means that many enterprises are looking for easy security solutions through a Cloud deployment. In every stage of the software development lifecycle, where collaboration must take place through cloud services, there is a need to implement robust security practices.
- However, the market will offer profitable opportunities to expand during the forecast period as the adoption of cloud-based security testing is expected to increase and new technology like DevOps, DevSecs, or AgileOps are introduced in Software Security Testing.
- Many companies are also pursuing a new technology called Cloud Based Security Testing, offering centralized security protection, cost efficiency, reduced administration costs, and credibility to the more sophisticated class of security. Moreover, the ability to run integrated cloud security testing tools such as SOASTA CloudTests, StormMeter, Blaze, Loadus, Jenkins DevCLOUD, Xamarin test clouds, TestLink, and Watir is available. It is expected to impact the security testing market throughout the forecast period positively.
- Many compliance and internal regulations apply to large enterprises. As part of the application and solution design process, security testing teams must use automated security tools internally and externally.
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North America to Hold Major Share
- The strong adoption of advanced technologies, increased cybercrime, and the increasing number of interconnected machines in the region are some of the main factors that will benefit the market for security tests in this area.
- The NIST published its draft guidelines on the security of Internet of Things devices in the United States last September 2022. Because IoT regularly poses a cybersecurity risk through hacks and data breaches, the NIST's Core Baseline highlights recommended security features for manufacturers to incorporate into their IoT devices and guidelines for consumers to look for on a device's box or online description while shopping.
- Furthermore, it contributes a significant share to data generation; therefore, this region has a high demand for data security and protection. Moreover, the market for security testing in this region is growing due to an early adoption of technology like the Internet of Things, Artificial Intelligence, and automation across different industry sectors: manufacturing, health care, transport, and logistics.
- The North American region is a technology hub. Therefore, the federal government has made very stringent rules regarding security testing services. Moreover, it is made compulsory for industries like BFSI to adhere to compliance testing.
- In addition, cybersecurity at both domestic and state levels is becoming an important issue for the United States, mainly regarding financial services companies. The region also has major cloud service providers, like Microsoft and Amazon. This factor is essential in the growth of cloud-based security testing markets.
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