According
to the new market research report "Security Testing Market
by Type (Network, Application, and Device), Tool (Penetration Testing, Web
Testing, Automated Testing, and Code Review), Deployment Mode (Cloud and
On-Premises), Organization Size, Vertical, and Region - Global Forecast to
2021", published by MarketsandMarkets™, the security
testing market is estimated to grow from USD 3.31 Billion in 2016 to USD 7.61
Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 18.1%.
The
major forces driving the security testing market are need for protection of
valuable assets such as web & mobile applications and government mandates
and regulatory compliances. The security testing market is growing rapidly
because of the growing security needs of Internet of Things (IoT) and Bring
Your Own Device (BYOD) trends and increased deployment of web & cloud-based
business applications.
Application security testing to grow at
the highest CAGR from 2016 to 2021
Application
security testing is expected to witness the highest CAGR in the global security
testing market during 2016–2021. Application security testing solutions are
used to secure web and mobile applications deployed by organizations for
efficient business operations. Moreover, the emerging IoT and BYOD trends have
connected a large number of applications that are susceptible to
vulnerabilities and Advanced Persistent Threats (APTs). Thus, the security of
these applications is the prime objective of organizations.
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Government and public
utilities vertical to have the largest market size in 2016
The security testing market has been also segmented
into various industry verticals; out of which, the adoption of security testing
solutions is expected to be the highest in the government and public utilities
vertical as the critical data and applications used by the vertical are prone
to advanced threats. Moreover, security testing for Banking, Financial
Services, and Insurance (BFSI), retail, and IT & telecom verticals are
expected to gain traction during the forecast period.
North America is
expected to dominate the security testing market in 2016
North America is expected to hold the largest share
of the security testing market in 2016 due to the technological advancements
and early adoption of security testing in the region. The market in APAC is
expected to grow at the highest CAGR between 2016 and 2021. The major driving
forces for this growth are increasing technological adoption and huge
opportunities across industry verticals in APAC countries, especially India and
China.
The major players offering
MMS are AT&T, Fujitsu, IBM Corporation, Wipro, Orange S.A., Hewlett
Packard, and others. Moreover, there are various key innovators in the market
that provide innovative MMS.
The market on the basis of
function is segmented into Device and System Management, Mobile Service
Management, and Sourcing and Logistics Management. On the basis of organization
size, the market is classified into SME and Enterprise. Further, the MMS market
is also segmented based on industrial verticals and regions. The scope of the
report covers detailed information regarding the major factors influencing the
growth of the MMS market, such as drivers, restraints, opportunities, and
challenges. A detailed analysis of the key industry players has been done to
provide insights into their business overview, products and services, key
strategies, and competitive landscape associated with the MMS market.
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Research Insight: https://www.marketsandmarkets.com/ResearchInsight/security-testing-market.asp
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/security-testing-market.asp
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