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 : November, 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

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

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

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?