Bugcrowd has released a report on the growing trend of security vendors launching bug bounty programs, which have tripled in number over the past two years and now represent the fifth largest industry on their platform. These companies are turning to bug bounties as they face challenges in building internal testing teams due to high demand for skilled cybersecurity resources. The bug bounty model provides value by leveraging the collective expertise of the bug bounty community, with companies like OneLogin, Sophos, and Barracuda reporting immense benefits from working with this community.