Crowdsourced Security Market

Global Crowdsourced Security Market: Global Size, Trends, Competitive, Historical & Forecast Analysis – Increasing partnership between key players and other enterprises and increasing use of bug bounty programs are the significant factors which are driving the growth of the Global Crowd Sourced Security Market.

Global Crowd Sourced Security Market is valued at USD 93.2 Million in 2020 and expected to reach USD 167.2 Million by 2027 with a CAGR of 8.7% over the forecast period.

Scope of Global Crowdsourced Security Market Report:

Crowdsourced security is the methodology which invites group of peoples to test an asset for vulnerabilities. The number of people can range from less than dozens to several hundred testing simultaneously. It is a tool used by different organizations and enterprises for auditing the security of their applications and infrastructure. Crowdsourced protection is an effective risk-reduction technique used by cutting-edge companies including Google, Facebook, and Apple. There is fundamental imbalance between the creativity and motivations of cyber attackers and those of enterprise security defenders. Crowdsourced security corrects this disparity by enlisting the help of whitehat security researchers to identify and fix flaws. Crowdsourced protection produces targeted outcomes that aid in risk reduction and cost control. Attacks are less likely when security is crowdsourced. Crowdsourced security supports the most critical attack surfaces, web and APIs interfaces on server, mobile and loT platform. It is used to provide specific security, detecting phishing, cyber security attacks.

COVID-19 pandemic has shown a positive impact on the growth of crowdsourced security market owing to the increased cyber-attacks in the current COVID-19 pandemic. Thus, the small enterprises are also opting for it.

The crowdsourced security market is segmented on the basis of type, deployment mode, organization size, vertical or end users, application and region & country level. Based on types, the crowdsourced security market is segmented into web application, mobile applications and others. On the basis of deployment mode, market is divided into cloud and on-premise. On the basis of organization size, market is segmented into large, small and medium enterprises. Based on vertical, it is divided into telecom and IT, BFSI, healthcare, travel and hospitality, retail, media and entertainment, aerospace and others.

Global Crowdsourced Security Market Segmentation:

By Form or Type:

• Web application
• Mobile applications
• Others

By Deployment Mode:

• Cloud
• On-premise

By Organization Size:

• Large organizations
• Medium organizations
• Small organizations

By Vertical or End Users:

• Telecom and IT
• BFSI
• Healthcare
• Travel and Hospitality
• Retail
• Media and Entertainment
• Aerospace
• Others

The regions covered in crowdsourced security market report are North America, Europe, Asia-Pacific, and Rest of the World. Based on country level, the market of crowdsourced security market is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

Key Players for Global Crowdsourced Security Market Report:

Bugcrowd lnc., Cobalt Labs lnc., Synack lnc., Zerocopter B. V., Applause App Quality lnc., Passbrains ag., Planit Test Management Solutions Pvt. Ltd., Rainforesst QA, lnc., Detectify and others.

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News: Skyscanner Keeps Travelers safe with Bugcrowd Bug Bounty Program

On January 30^th, 2019; San Francisco, Crowdsourced Security Company announced that Skyscanner the leading global travel company had taken its Bug Bounty Program. Skysacnner’s public program is open to Bugcrowd’s full crowd of top, trusted whitehat hackers. Skyscanner paid up to $2000 per vulnerability identified on website, API and apps in mobile.

Increasing Partnership Between Key Players and Other Enterprises and Growing Use of Bug Bounty Programs are Driving the growth Market Growth

Increasing partnership between key players and other enterprises is one of the major factors driving the global crowdsourced security market. For instance; in August 2019, HackerOne partnered with a telecommunication solution provider AT & T. They provide crowdsourced platform to the AT & T. Also in June 2019, Bugcrowd leading crowdsourced security player partnered with a research-fueled security service provider IOActive, to combine their efforts for providing robust security. In October 2018, Synack, Bugcrowd and HackerOne collaborated to join third iteration of Hack the Pentagon, a bug bounty program. So, the various key players have started partnership to secure the different organizations from different problems. In addition, increasing use of bug bounty programs is also supplementing the market growth. For instance; according to Bugcrowd Priority One report 2021, the use of bug bounty program is increased 24% for the 10 months of 2020 compared to whole 2019. The software industries paid more in bounties than other types of industries. Furthermore, increasing demand for upgrading security methodologies is also fostering the growth of global crowdsourced security market. However, inadequate budget may hamper the market growth. In spite of that, growing digitalization may create more opportunities for the further growth of global crowdsourced security market.

North America is Anticipated to Dominate the Global Crowdsourced Security Market

Geographically; North America is expected to dominate the global crowdsourced security market over the forecast period due to the early adoption of advanced technologies such as cloud computing and high investment in research & development in this region. Asia Pacific is expected to show a fastest growth in this market within the forecast period due to introduction of wide portfolio by various key players. For instance, in July 2019, Synack a key player in crowdsourced security, launched crowdsourced penetration test designed specifically for government. This penetration test combines NIST 800-53 guidelines with a bug bounty-based vulnerability discovery model. Other key players in Asia such as Applause, Cobalt, Natragard, Rapid and Planit Testing are playing important role in the growth of crowdsourced security market in Asia Pacific.

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2021 - 2027
Market Size in 2020:	USD 93.2 Million
Base year considered	2020
Forecast Period CAGR %:	8.70 %
Market Size Expected in 2027:	USD 167.2 Million
Tables, Charts & Figures:	175
Pages	200
Key Players/Companies	Bugcrowd lnc., Cobalt Labs lnc., Synack lnc., Zerocopter B. V., Applause App Quality lnc., Passbrains ag., Planit Test Management Solutions Pvt. Ltd., Rainforesst QA, lnc., Detectify and others.
Segments Covered	By Form or Type, By Deployment Mode, By Organization Size, By Vertical or End Users
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Key Benefits for Global Crowdsourced Security Report:

• Global Crowdsourced Security Market report covers in-depth historical and forecast analysis.
• Global Crowdsourced Security Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
• Global Crowdsourced Security report helps to identify opportunities in marketplace.
• Global Crowdsourced Security Market report covers extensive analysis of emerging trends and competitive landscape.

Crowdsourced Security Market By Regional & Country Level:

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy

Asia Pacific

• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico