According to the report published by Allied Market Research, the global network security testing market generated $1.8 billion in 2021 and is estimated to reach $10.8 billion by 2031, witnessing a CAGR of 19.6% from 2022 to 2031.
An increase in demand for work-from-home and remote working policies drives the growth of the network security testing market. The market across Asia-Pacific is projected to portray the fastest CAGR of 21.5% during the forecast period. The pandemic positively affected the market due to a surge in digital penetration during the lockdown period.
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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 into to achieve growth in the coming years.
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 the deployment model, the on-promise segment held the largest share in 2021, accounting for nearly three-fifths of the global network security testing industry, and is expected to maintain its dominance in terms of revenue by 2031. However, the cloud segment is estimated to witness the largest CAGR of 20.9% during the forecast period.
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On the basis of 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.
Based on industry vertical, the healthcare segment is projected to showcase the highest CAGR of 22.3% during the forecast period. However, the BFSI segment held the largest share in 2021, accounting for more than one-fourth of the market.
Based on region, North America accounted for the highest share in 2021, contributing to more than one-third of the total market share, and is projected to continue its leadership status by 2031. However, the market across Asia-Pacific is projected to portray the fastest CAGR of 21.5% during the forecast period. The research also analyzes regions including Europe and LAMEA.
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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The report analyzes these key players in the global network security testing market. These players have adopted various strategies such as new product launches, expansion, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
Covid-19 Scenario:
- The pandemic positively affected the market due to surge in digital penetration during the lockdown period. The implementation of strict social distancing policies fueled the demand for remote operating tools.
- However, lack of skilled IT professionals and concerns regarding cybersecurity hampered the growth of the market.