US Security Testing Market plans to revolutionize infrastructure with a projected CAGR of 18% by 2028: Ken Research

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With heavy segmentation and wide spread applications ranging in Government, financial and healthcare services, leading the US Security Testing Market one of the largest and still growing market, with a projected CAGR of ~18% by 2028.

STORY OUTLINE

• The US Security Testing Market grows with the rapid increase in Cybersecurity threats.
• With the advent of regularizing Regulatory Compliances, protocols are being made strict in order to safeguard data.
• Adopting the Cloud Services has made the US Security Testing Market shift to digitized and innovative processes.
• With technological advancements, the US security testing market pushes its boundaries.

1.The US Security Testing Market grows with the rapid increase in Cybersecurity threats.

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• With the rise in cyber-threats like identity theft, online fraud and system extortion, the US Security Testing Market increased their encryption for better protection.
• The groups of threats rising today are phising, spam, spyware and malware.
• With the incorporation of Dashi Cyber, many testing availability arose, making the market to facilitate advanced testing.
• Along with international standards of testing like ISO 27001, CREST Penetration testing, a much stronger database called Dashi USM was incorporated in the Android and iOS.

According to Ken Research, the US Security Testing Market has come forward to face off the impending threats after the global digitization soon after the Covid-19 pandemic. With the rise in technologies and advanced algorithms like Artificial Intelligence (AI) and Machine Learning, security testing has become more accurate with lower loop holes that may pertain greater threats. This has led to the overall growth of the market, with a projected CAGR of ~18%, by the year 2028.

2.With the advent of regularizing Regulatory Compliances, protocols are being made strict in order to safeguard data.

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• Regulations such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), are being enhanced for strengthening their encryption and protocols.
• With the adoption of NIST Cybersecurity Framework 2.0 (CSF), potential high alert and future critical threats can be easily removed.
• The enhancement of the regulation called Health Insurance Portability and Accountability Act (HIPA) has marked remarkable changes in the medical sector.
• The improved Payment Card Industry Data Security Standard (PCI DSS) has successively safeguarded the authentication and basic data in the financial sectors.

3.Adopting the Cloud Services has made the US Security Testing Market shift to digitized and innovative processes.

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• With continuous Security Testing within the DevSecOps through automated scans at every developmental stage, detecting major threats.
• With more emphasis on security testing on serverless computing devices, namely the AWS Lambda, Google Cloud Functions and more, have been able to seek out critical threats.
• With proliferation of Penetration Testing, vulnerabilities to IoT devices have been significantly reduced.
• Increased Application Programming Interface Testing (API Testing) in the cloud environment has enhanced their task in connecting services.

4.With technological advancements, the US security testing market pushes its boundaries.

• With the proper integration of AI and Machine Learning into the Static/ Dynamic Application Security Testing (SAST and DAST), enhanced vulnerabilities detection to reduce possible harm to the mainframe.
• Automated security testing tools which easily mix with the Continuous Integration/Deployment (CI/CD) pipelines allows multiple automated security testing at developing stages of a software.
• With the integration of The Intel Exchange (CTX Lite) solution from Cyware, a fully automated networked threat intelligence platform (TIP) ingests, evaluate and responds to threats.
• Solutions like NowSecure, IoT Inspectors and Veracode Mobile Application Security can easily detect and identify mobile application and IoT device vulnerabilities.

CONCLUSION

With the advancements in cybersecurity threats and malignant malware, it is evident to say that the US Security Testing Market has to up their level with it. Adoption of stringent regulatory solutions towards cloud services and environment and increasing in penetration testing services, security testing has been never been this complex. This overall gathers people’s attention, in need of their attention for the security testing.

Can Trulioo maintain its upward trajectory by 2028? : Ken Research

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Trulioo has emerged as a formidable player in cutting edge technologies and compliance expertise and providing groundbreaking advancements, making this franchise one of the largest in the US Identity Verification Market, projecting for a rise of 13% by 2028.

STORY OUTLINE

• A fully end to end solution provided by Trulioo, automates the entity verification process, making it easier and automatic for users.
• Trulioo enabled identity-documents check KYC to truly streamline the workflow.
• With technological advancements, integration and partnerships, Trulioo surges up the ladder.
• Flexibility and authenticity added with secured workflow, enables Trulioo to grow more.

1.A fully end-to-end solution provided by Trulioo, automates the entity verification process, making it easier and automatic for users.

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• Due to the increasing money laundering and theft, Trulioo has enabled a fully end-to-end solution called Know-Your-Business (KYB) which automates traditional manual verification reducing the time taken for complete verification from weeks to minutes.
• With the generalization of KYB, Trulioo stated a growth of 587% since the year 2020, reducing and solving many problems regarding money laundering and other frauds.
• Trulioo also has AML(Anti-Money Laundering) Watchlist and ongoing sanctions screening, which cross checks both users and businesses against people who are politically exposed, with more than 6000 watchlists and over 20,000 adverse media sources.

According to Ken Research, Trulioo has much stronger and secure interface and algorithms, with advanced protocols like Artificial Intelligence and Machine Learning, with a broader network of industries and cases associated with it and a large number of watchlist, makes this one of the leading companies, soon to top every other company, with promising vision towards the future.

2.Trulioo enabled identity-documents check KYC to truly streamline the workflow.

• In order to fully streamline the process, along with KYB, Trulioo enabled the Know-Your-Customer (KYC) process, which checks the business’s valuable owners in the same process.
• Trulioo through this process offers over 500 integrated personal identifiable data sources, more than 11,000 identity document types and more than 5000 watchlists, making it one of the most diverse in workflow but secure in every way.
• Trulioo advances new methods, stating them in Money20/20, Amsterdam, where high delivery of performance, utilizing a global network of more than 440 data sources to verify customers quickly and provide a real time access to more than 10,000 verifiable ID documents, leading to a growth and increase in security.

3.With technological advancements, integration and partnerships, Trulioo surges up the ladder.

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• Trulioo has officially upgraded EmbedID, with a new document verification and biometric facial recognition features, negating any fraud or hacking and maintains regulatory compliances for SMBs (Small and Midsize Businesses), making people’s engagement increase.
• EmbedID has been preconfigured with identity verification market’s GlobalGateway API, which can be accessed by SMBs, reducing fraud in a large scale and meeting AML and KYC requirements, bringing in people’s trust and increase in people who want to participate more by securing their business.
• The introduction of Artificial Intelligence (AI) as a process, has simplified the workflow, as persons data are being checked with real time details and documents both, without much manual or man power to be used, making the market to grow rapidly.

4.Flexibility and authenticity added with secured workflow, enables Trulioo to grow more.

• Trulioo has started its advancements since the Covid-19 pandemic, when all types of vendors have shifted all towards digital transformation. Unlike other players, Trulioo follows a much more flexible workflow resulting in a proper verification of customers during onboarding, conduction of ongoing monitoring or complying toward many types of regulatory requirements, expanding its reach to many different industries.
• Trulioo offers a much more complex data encryption resulting in a more secure and robust interface, resulting in a build of trust for which people with broader business tend to trust the company resulting in an increase in the growth of the market.
• With complex AI and Machine Learning, assisted with consistent support from human teams to maintain the regularity and authenticity with ever upgrading of the features, Trulioo is going to cross the ladder of the US identity verification market.

CONCLUSION

Trulioo is truly one of the leading companies running the identity verification, with multiple processes and complex protocol, consisting of KYB and KYC, also with AI to help screen with proper target allocation and Machine Learning (ML) to adequately process the result. A proper authenticity makes it truly trustworthy to people and their engagement makes this company to grow. Northern America has its dominance in the US Identity Verification Market with major contributions from this company, which is rising every year.