Global Crowdsourced Security Market
Global Crowdsourced Security Market was valued US$ XX Mn in 2018 and is expected to reach US$ 158.6 Mn by 2026, at a CAGR of around XX% during a forecast period.
Crowdsourcing is an aggregation of many human resources to achieve a common goal. It has been usually popular around the globe. Indeed, security specialists have regularly combined it and the outcomes were genuinely productive.
The reports cover detail dynamics in the crowdsourced security market as organic and inorganic growth strategies. Such as the rapid digital transformation taking place across the world has changed the way organizations are functioning. Hence, rising number of applications, and data moving quickly into the digital reality, hackers have found more opportunities to create and find more potential entry points making it tough for the cybersecurity professionals to find and fix vulnerabilities along with keeping track of everything. This has led organizations to demand agile and iterative approaches for securing applications and systems through crowd sourcing platforms, so driving the growth of crowdsourced security market globally.
However, High development costs, budget constraints and less technical integration are the major factors which would hinder the growth of crowdsourced security market during the forecasted period.
Cloud segment to record the highest XX% growth rate during the forecast period. Cloud-based availability of the platforms is the major reason for this deployment model to grow at a fast pace, provisioning the ethical hackers present across the globe with access to platforms to any remote locations.
The report offers a brief analysis of the major regions in the market, namely, APAC, Europe, North America, South America, and the Middle East & Africa. North America is expected to grow at a CAGR of XX% during the 2019-2026, because of the early adoption of advanced technologies, such as cloud, helping crowdsourced security service providers to implement efficient crowdsourced security solutions.
The pace of technology adoption in the U.S is high, along with the high growth of cloud services in the region, attributing to the fast growth of the crowdsourced security market in the U.S.
The report analyzes a recent development in the global market for crowdsourced security like In October 2018, Synack, HackerOne, and Bugcrowd collaborated to join the third iteration of Hack the Pentagon, a bug bounty program, which would increase testing to the Defense Digital Department’s customer sites and applications, that contains of two-way information flow between developers and hackers, so expanding crowdsourced security offerings of the 3 companies.
In January 2019, Bugcrowd partnered with Skyscanner, a worldwide travel search company, and launched its bug bounty program for the public through Bugcrowd’s Crowdsourced Security platform, on the arrival of the success of its private program that rewarded above 200 vulnerabilities.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Crowdsourced Security Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment shortly to the emerging segment in the Global Crowdsourced Security Market.
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