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Crowdsourced Security Market Analysis by Trends, Size, Share, Growth Opportunities, and Emerging Technologies

One of the key growth drivers for the crowdsourced security market is the burgeoning demand for security solutions by enterprise to improve security and reduce risks. Every organization runs its applications through several quality checks to ensure the elimination of all bugs and other potential security challenges. The organizations also test run their applications after their launches to identify the bugs and protect the applications from potential hackers.

As it is increasingly becoming difficult for development teams to search for all the bugs and potential threats, enterprises are rapidly adopting crowdsourced security solutions. In recent years, the rising integration of crowdsourced security methods in the automobile industry has become a major trend in the market. Owing to the high risks of hacking, data loss, and financial loss, automakers are focusing on the deployment of such security solutions.


 

For instance, in 2015, Fiat Chrysler Automobiles N.V. faced the challenge of vehicle safety hacking in a public demonstration. This led to the recall of 1.4 million vehicles of the company. The enterprise category of the crowdsourced security market includes large enterprise and small- and medium-sized enterprise. Under this segment, the large enterprise category generated the higher revenue during the historical period (2014–2019) and it is expected to retain its dominance throughout the forecast period.

This is because large enterprises have extensive resources, including several decision-making bodies and large budgets, which enable them to adopt the latest security solutions for their systems and applications. According to P&S Intelligence, the North American region accounted for the largest share in the crowdsourced security market, due to the advancements made in security technologies in the region. The market players in this region are focusing on exploring and implementing the latest technologies to attract more customers.

Moreover, the rising deployment of security solutions in enterprises for shielding the integrity of the novel and advanced technologies will boost the market growth in the region. Thus, the increasing concerns being raised over security among enterprises and escalating incidence of cyber-attacks will propel the market expansion in the foreseeable future.

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