September 12, 2024 at 02:42PM
The global Security Testing Market is projected to grow from USD 14.5 billion in 2024 to USD 43.9 billion by 2029, with a CAGR of 24.7%, driven by the increasing incidence of cyberattacks. The adoption of Static Application Security Testing (SAST) and web application security testing is on the rise, particularly in Asia Pacific, where the need for security testing services is rapidly increasing. Leading companies in this market include IBM, HCLTech, Synopsys, and others, as reported by MarketsandMarkets™. For more information, visit www.MarketsandMarkets™.com.
From the provided meeting notes, here are the key takeaways:
1. The global Security Testing Market is projected to grow from USD 14.5 billion in 2024 to USD 43.9 billion by 2029 at a CAGR of 24.7% during the forecast period, driven by the increasing incidence of cyberattacks targeting software vulnerabilities.
2. SAST (Static Application Security Testing) accounts for the highest market size during the forecast period, as organizations prioritize secure software development.
3. Web application security testing also accounts for the highest market size during the forecast period, driven by the increasing reliance on web-based platforms for business operations and customer interactions.
4. Asia Pacific is expected to grow at the highest CAGR during the forecast period due to the region’s expanding digital economy and the rising threat of cyberattacks.
5. Key players in the Security Testing Market include IBM, HCLTech, Synopsys, OpenText, Cigniti, Qualitest, and many others.
6. MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes and is leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space.
For further details, visit www.MarketsandMarkets™.com or follow them on Twitter, LinkedIn, and Facebook.