Crowdsourced Security Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Crowdsourced Security Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : July, 2020 | Technology & Media | PPT format

Report Digest


Crowdsourced Security Market: Overview

The global crowdsourced security market is expected develop at a healthy pace in the coming years of the forecast period of 2018 to 2028. The mobile phone application segment of the crowdsourced security market is expected to develop at a rapid pace in these coming years. The rate of adoption of these mobile application is growing at a great pace and is thus helping the market to develop further. In crowdsourced security, several tech people are invited for testing the vulnerabilities of an asset. There are several programs such as vulnerability disclosure programs, bug bounties, and responsible disclosure programs to test the vulnerability of assets.

Crowdsourced Security Market: Notable Developments

Some of the recent notable developments in the global crowdsourced security market are given below:

  • In October 2018, Bugcrowd, Synack, and HackerOne announced that they have teamed up to join the third version of Hack the Pentagon. This is an annual bug bounty program that would expand testing the customer applications and sites of the Defense Digital Department. This program consists of a bilateral information flow between the hackers and developers, hence expanding the offerings of crowdsourced security of all the three companies.
  • In January 2019, Bugcrowd announced that the company has teamed up Skyscanner, a global travel search company. The association was done with an objective to launch their own bug bounty program for public with the help of a Bugcrowd’s Crowdsourced Security Platform.

Crowdsourced Security Market: Drivers and Restraints

Several micro as well as macroeconomic factors are helping to push the growth of the global crowdsourced security market. One of the major driving factor for the crowdsourced security market growth is the growing need for upgrading the conventional security techniques and methodologies. With the advent of several new technologies such as artificial intelligence, cloud-based platforms, and machine learning among others, there has been a growing need to provide more advanced security to the big enterprises. As more and more organization adopt such new technologies, the need for an optimized end-to-end security solution has increased significantly. This has thus worked in favor of the development of the global crowdsourced security market. Furthermore, with new technologies, the laws and data protection policies have also become highly strict. This too has helped in the growing adoption of crowdsourced security market as they help in higher levels of compliance to such regulations and policies.

Crowdsourced Security Market: Geographical Outlook

In terms of geographical segmentation, the global crowdsourced security market features five main regions viz. Middle East and Africa, North America, Latin America, Europe, and Asia Pacific. Of these, currently the global crowdsourced security market is dominated by the North America region. The region is expected to continue its domination during the course of the mentioned forecast period of 2018 to 2028. There are several reasons behind such prolonged domination of the North America region in the global market. One of the major driving factors behind this growth is the early adoption of new technologies such as cloud. In addition to this, lucrative and favorable business environment for the rapid growth of new technologies is also helping the crowdsourced security market grow in the North America region.

On the other hand, the region of Asia Pacific is expected to show great promise in the coming few years of the forecast period. The region has two of the fastest growing economies in China and India. For the overall development of their economy and infrastructure, these nations are allowing foreign investment and opening up their marketplaces. This has created a favorable environment for the development of the crowdsourced security market in the region.

Market Segmentation is as follows:

By Type

  • Web Application
  • Mobile Application
  • Others (IoT, Wireless, and Network)

By Deployment Mode

  • Cloud
  • On-Premise

By Organization Size

  • Large Enterprises
  • Small and Medium-sized Enterprises

By Vertical

  • Telecom & IT
  • BFSI
  • Healthcare
  • Travel & Hospitality
  • Retail
  • Media & Entertainment
  • Others (Government, and Education)

By Region

  • North America
  • Europe
  • APAC
  • Latin America
  • MEA

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.