Network Security Testing Market
An increase in demand for work-from-home and remote working policies drives the growth of the network security testing market.
PORTLAND, PORTLAND, OR, UNITED STATE, February 28, 2024 /
EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “
Network Security Testing Market," The network security testing market size was valued at $1.8 billion in 2021, and is estimated to reach $10.8 billion by 2031, growing at a CAGR of 19.6% from 2022 to 2031.
Network security testing is the process of discovering faults and vulnerabilities in an organization's networks and security systems, helping apply remedies to assist strengthen those security measures and satisfying compliance and regulatory standards. Different organizations handle network security testing in different ways, each with their own set of testing measures, goals, and solutions to attain their security and privacy goals.
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Furthermore, key factors that drive the growth of the network security testing market include rise in demand for work-from-home and remote working policies during the period of the COVID-19 pandemic that aided in propelling the demand for global network and enterprise security solutions, hence empowering the growth of the network security testing industry.
However, higher installation costs and maintenance challenges of network security testing platforms can hamper the network security testing market. On the contrary, the integration of advanced tools such as machine learning and data analytics with network security testing solutions suites is expected to offer remunerative opportunities for expansion of the network security testing industry during the forecast period.
The integration of advanced technologies such as artificial intelligence in network security testing software help providers to identify risks and fraud, boost the revenue, and add value to their customers. AI-based network security testing software has increased the efficiency in risk identification and helps in creating a better business insight.
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In addition, increased adoption of unified endpoint management solutions in the business to remotely manage and control all new terminations to streamline workflows, increase productivity, achieve long-term savings, improve employee satisfaction, and minimize error provide lucrative opportunities for the market. Furthermore, cloud-based network security testing software adds a wide range of technologies, including machine learning and IoT integration that help organizations become more data-driven and better strategized. More such innovations are expected to provide lucrative opportunities for the expansion of the global market.
The report offers detailed segmentation of the global network security testing market based on type, deployment model, enterprise size, industry vertical, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps investors, market players, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on the deployment model, the on-premise segment dominated the overall network security testing market in 2021 and is expected to continue this trend during the forecast period. This is attributed to the complex security demands of various corporations needing custom security testing solutions. However, the cloud segment is expected to witness the highest growth owing to its easier deployment and scaling capabilities, which is expected to further fuel the growth of the global network security testing industry.
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Based on type, the VPN testing segment accounted for the highest share in 2021, contributing to more than two-fifths of the total share, and is expected to maintain its leadership status during the forecast period. However, the firewall testing segment is expected to manifest the highest CAGR of 21.2% from 2022 to 2031.
Based on enterprise size, the large enterprise segment dominated the market in 2021, accounting for more than two-thirds of the market, and is projected to maintain its leading position throughout the forecast period. However, the SMEs segment is estimated to showcase the highest CAGR of 21.6% during the forecast period.
Region-wise, the network security testing market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its highly advanced technology sector which is expected to drive the market for network security testing within the region during the forecast period. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to its growing digital capabilities and a highly competitive market space, which is anticipated to fuel the network security testing market growth in the region in the coming few years.
Leading players of the global network security testing market analyzed in the research include Checkmarx Ltd., AT&T, Core Security, Cigniti, IBM, Data Theorem, Inc., Kryptowire, ImpactQA, McAfee, LLC, LogRhthym, Inc., NowSecure, Micro Focus, PortSwigger Ltd., Parasoft, ScienceSoft USA Corporation, Rapid7, Synopsys, Inc., SecureWorks, Inc., and Veracode.
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