Crowdsourced Security Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Crowdsourced security is a tool used by enterprises to audit their applications and infrastructure security. The solution has significantly replaced traditional pen-testing approaches. Crowdsourced security revolves around a group of people, ranging from dozen to hundreds, to test an asset for vulnerabilities. The rapid digital transformation of enterprises and the increasing number of mobile applications and devices are key factors driving the growth of the crowdsourced security market.

MARKET SCOPE

The "Global Crowdsourced Security Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the crowdsourced security market with detailed market segmentation by type, deployment mode, industry, and geography. The report provides key statistics on the market status of the leading crowdsourced security market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

• Based on type, the market is segmented into web application, mobile application, and others.
• Based on deployment mode , the market is segmented into cloud and on-premise.
• Based on industry, the market is segmented into BFSI, IT and telecom, retail, healthcare, media and entertainment, travel and hospitality, and others.

MARKET DYNAMICS

Drivers  

• The crowdsourced security market is anticipated to grow in the forecast period due to driving factors such as the growing need to meet compliance requirements and increasing security concerns in organizations due to digital transformation.
• The rising need to upgrade traditional security testing methodologies is further expected to bolster market growth.
• Restraints
• High deployment costs may hinder the growth of the crowdsourced security market.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The crowdsourced security market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social, and technological factors affecting the crowdsourced security market in these regions.

IMPACT OF COVID-19 ON CROWDSOURCED SECURITY MARKET

COVID-19 first began in Wuhan (China) in December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in the global market. Few companies have already announced possible delays in product deliveries and slumps in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the crowdsourced security market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market players from the crowdsourced security market are anticipated to have lucrative growth opportunities in the future with the rising demand in the global market. 
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the crowdsourced security market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

• Applause App Quality, Inc.
• Bugcrowd
• Cobalt
• Crowdsprint.
• Detectify
• HackerOne
• Planit Testing
• Rainforest QA, Inc.
• Synack, Inc.
• Zerocopter B.V.

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
 

Crowdsourced Security Report Scope