New York, US, July 07, 2021 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Breach and Attack Simulation Market information by End User, by Components, by Application and Region – Forecast to 2027” the market was valued at USD 102.64 Million in 2018 and is expected to reach USD 1,109.5 Million by 2025 growing at a CAGR of 41.39%
Dominant Key Players on Breach and Attack Simulation Market Covered Are:
- Cymulate (US)
- Pcysys (Israel)
- Skybox Security Inc. (the US)
- Qualys Inc. (the US)
- Rapid7 (US)
- DXC Technology Company (US)
- AttackIQ Inc. (the US)
- XM Cyber (Israel)
- SafeBreach Inc. (US)
- FireMon LLC (US)
- Verodin a part of FireEye (US)
- NopSec (US)
- Threatcare (US)
- MazeBolt Technologies (Israel)
- Scythe (US)
- Cronus Cyber Technologies (Israel)
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Market USP exclusively encompassed:
Breach and Attack Simulation Market Drivers
Increasing Risk of Cyberattacks to Bolster Market Growth
The growing risk of cyber-attacks growing steadily in numbers and in strength & variety is likely to boost the market growth. There has been an increasing adoption of breach and attack simulation by verticals such as IT and Telecom, government and public sector, and BFSI to protect information and also prevent application layer attack which is fueling market growth. The surge in cyber-attacks all across the globe is the key factor for the market to grow enormously. The IT and telecom and BFSI have experienced several attacks and security breaches like botnets, distributed denial of service (DDoS), forceful browsing, cookie poisoning, cross-site scripting, and SQL injection.
Besides, the burgeoning need for cloud-based technology has increased the need for security software for securing data presented over cloud technology which is also adding to the growth of the market.
Breach and Attack Simulation Market Opportunities
Growing Digitalization Actions to Offer Robust Opportunities
The growing digitalization actions that are leading to an improved dependency on internet of things devices needing breach and attack simulation coupled with the integration of technologies like machine learning, artificial intelligence, and self-regulation in developing breach and attack simulation will offer breach and attack simulation providers with profitable opportunities.
Breach and Attack Simulation Market Restraints
Lack of Awareness to act as Market Restraint
The lack of awareness about advanced cyber-security technologies coupled with security breaches due to internal vulnerabilities may act as market restraints over the forecast period.
Breach and Attack Simulation Market Challenges
Lack of Connectivity to act as Market Challenge
The lack of connectivity coupled with growing gap in the overall effectiveness may act as key market challenges over the forecast period.
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Segmentation of Market Covered in the Research:
Breach and Attack Simulation Market By component, the services segment will lead the market over the forecast period. Cybersecurity services empower businesses in assessing, building, and managing their cybersecurity capabilities and enabling them in responding to crises and incidents. Such services guide the organizations securely through each phase of digital transformation and aid them in improving their security posture. An increase in threat surfaces owing to technological shift in large enterprises and SMEs is compelling them in adopting breach and attack simulation services thus adding to the growth of the segment.
Breach and Attack Simulation Market By application, the configuration management segment will dominate the market over the forecast period as they offer security controls, monitoring, and testing to detect and resolve breaches in the network.
Breach and Attack Simulation Market By end user, the enterprise segment is predicted to spearhead the market over the forecast period for the high spending among enterprises for strengthening network security and protecting sensitive data.
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North America to Precede Breach and Attack Simulation Market
North America is predicted to precede the breach and attack simulation market over the forecast period. The presence of major key players making heavy investments in R&D activities to develop breach and attack simulation platforms with advanced capabilities, early adoption of technology, organizations having a high focus on cyber-security, enterprises being increasingly aware of cyber-security risk thus reinforcing the prospects of new products, the outsized presence of organization with the accessibility of advanced IT infrastructure and technical expertise, rise in cyber-attacks across industries, the development of government initiatives like smart cities, smart infrastructure, and innovations in ML and AI, and growing demand for cloud-based breach and attack simulations are adding to the global breach and attack simulation market growth in the region. Canada and the US have the utmost market share.
COVID-19 Impact on the Global Breach and Attack Simulation Market
With the advent of the deadly COVID-19 pandemic, the sophistication and frequency of cyber-attacks has increased rapidly. Cyber-attackers have targeted enterprises of all sizes operating in industries right from IT and Telecom, retail and ecommerce and BFSI to critical measures across the globe for protecting themselves against reputational and financial losses. The threats and challenges posed via data breaches & cyber threats are impacting the different organizations that are adopting simulation solutions. Breach and attack simulation are gaining great acceptance and wide opportunities for the ability of finding security gaps. This is adding to the market growth.
NetSPI has recently announced its latest ransomware attack simulation service. The new service in collaboration with its ransomware security experts allows organizations to emulate real-world ransomware families for finding and fixing critical vulnerabilities in the cyber-security defenses.
Key players have incorporated several strategies to stay at the forefront such as partnership, joint ventures, mergers, among others. For instance, a leading BAS systems vendor AttackIQ has made a partnership with VMware to allow VMware NSX customers in improving the way they validate their network security control’s efficacy.
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