What is Crowdsourced Security Market?
Crowd sourced security is the approach of organized security where various ethical hackers search and report the vulnerabilities in the assets of the organization. It is derived from the active testers per asset or ecosystem with more traditional testing methods. Crowd sourced security is used by leading edge firms like Google, Apple, and Facebook. Further, it helps to eliminate the imbalance between the cyber attackers and enterprise security defenders. It also provides results to support risk reduction, cost control and decrease operational overhead.
The market study is being classified by Type (Web Application, Mobile Application and Others), by Application (Back office and Front office) and major geographies with country level break-up.
Applause (United States), Bugcrowd Inc. (United States), Cobalt Labs Inc. (United States), Detectify (Sweden), HackerOne (United States), passbrains (Germany), Planit (United States), Rainforest (United States), Synack (United States) and Zerocopter (Netherlands) are some of the key players profiled in the study.
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Crowdsourced Security market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Crowdsourced Security market by Type, Application and Region.
On the basis of geography, the market of Crowdsourced Security has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Continuous Adoption of Different Security Measures to Detect and Prevent the Presence of Cyber Threat
- Increasing Focus of Different Industries to Upgrade the Traditional Security Measures
Market Trend
- Growing Technological Advancements which Require Security Solutions
Restraints
- Adoption of Preventive Security Measures Rather than Remedial Solutions
Opportunities
- Growing Android and IoS Development is leading to Adoption of Security Assessment Solutions
- Cloud Based Availability of Platform is Boosting the Market
Challenges
- Lack of Extent for Using this Method
Market Leaders and some development strategies
In August 2019, HackerOne has partnered with AT&T, to provide AT&T with its crowdsourced security platform. AT&T has planned utilize the platform for its newly launched bug bounty program that is expected to incorporate its public-facing online environment, such as AT&T-owned websites, public Application Programming Interface (APIs), mobile applications, and devices and reports, for detecting potential vulnerabilities.
In March 2019, Detectify has expanded its business in Boston to take over the US crowd sourced security market. This expansion helps Detectify to expand company operations with an established tech and startup scene in this region along with the available talent pool.
Key Target Audience
Crowdsourced security providers, Government associations, Research organizations, Enterprise software vendors and Others