Penetration Testing Market size was valued at US$ 1.90 Billion in 2022 and the total Penetration Testing revenue is expected to grow at 16.5% through 2022 to 2029, reaching nearly US$ 5.53 Billion.
Penetration Testing Market Overview:
The primary goal of this research is to assist the user in understanding the Penetration Testing Market in terms of definition, segmentation, market potential, significant trends, and the problems that the Penetration Testing industry faces in key regions and nations. The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals.
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Penetration Testing Market Scope:
The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals.
Penetration Testing Market Dynamics
The stringent government regulations requiring businesses to conduct frequent penetration tests or face penalties are a major factor driving the worldwide penetration testing market. NIS (Network and Information Systems) and SOC (Systems Organization and Control) are two examples of common directives. The rapid expansion of penetration testing as a service (PTaaS) is another driver boosting the global market. This facilitates the planning and execution of penetration testing on various apps by IT professionals.
The high price of penetration tests is a significant barrier in the global market. For SMEs, a penetration costs about $3,500, but for large businesses, it costs about $90,000. Businesses are forced to set aside a specific percentage of their earnings for these tests since the government has required them. It is anticipated that during the forecast period (2023-2029), this trend in the worldwide penetration testing market will restrain market expansion overall.
Penetration Testing Market Segmentation:
Web application penetration testing, mobile application penetration testing, network penetration testing, and other are the segments listed by kind. The CAGR for mobile applications is predicted to be 6.8% over the forecast period (2023-2029). The strong demand for E-Commerce applications like Amazon and Zomato in the worldwide IT sector is responsible for this growth. Continuous data breaches occur at massive online retailers like Amazon and Facebook. The potential breach or vulnerability in these apps is expected to be found with the use of penetration testing. In April 2022, the personal information of approximately 530 million Facebook users was exposed online. It contained the personal phone numbers, e-mail addresses, and other biographical data of the app’s users worldwide.
In terms of industry, the banking and finance sector, government, and defense, along with them, held the top two spots in the global penetration testing market in 2020. Russian hackers broke into the federal government of the United States’ database in 2020. Therefore, throughout the aforementioned forecast period, cyber-attacks on government databases like these are expected to fuel the expansion of the government and defense segment in the global market. A ransomware assault that targeted the US banking institution CNA in March 2022 resulted in a three-day interruption of employee and customer services. The nation’s Federal Trade Commission had issued a warning about an email scam involving the COVID-19 stimulus funds provided by the governments in the same month.
1 Global Penetration Testing Market, by Type (2022-2029)
• Web Application Penetration Testing
• Mobile Application Penetration Testing
• Network Penetration Testing
• Other
2 Global Penetration Testing Market, by Deployment (2022-2029)
• On-premise
• Cloud
3 Global Penetration Testing Market, by Industry (2022-2029)
• Government and Defense
• BFSI
• IT and Telecom
• Retail & E-Commerce
• Other
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Penetration Testing Market Key Players: The study discusses the key market players who are engaged in the industry, such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors, and so on. The key players in the Penetration Testing market are
1. WhiteHat Security
2. Checkmarx
3. FireEye
4. Micro Focus
5. Secureworks
6. Rhino Security Labs
7. Immuniweb
8. PortSwigger Web Security
9. iSECURION
10.Core Security SDI Corporation
11.Redteam Security Consulting
12.Context Information Security
13.Rapid7, Inc.
14.Qualys, Inc
15.Veracode
16.Trustwave Holdings, Inc
17.Acunetix
18.Hewlett Packard Enterprise
19.IBM Corporation
20.Cigital Inc
Regional Analysis:
The report focuses on Global Regions and Market Size of Penetration Testing, and development forecast 2021-2027, including industries, major players, suppliers worldwide, and market share by regions, with company and product introduction, position in the market including their market status and development trend by types and applications, which will provide its price and profit status, and marketing status, with 2020 as the base year.
COVID-19 Impact Analysis on Penetration Testing Market:
The report discusses the impact of COVID-19: Since the breakout of the COVID-19 virus in December 2019, the disease has spread to practically every country on the planet, prompting the WHO to declare it a public health crisis. The worldwide effects of the coronavirus epidemic are already being noticed, and they will have a considerable influence on the Penetration Testing industry in 2021.
Key Questions Answered in the Penetration Testing Market Report are:
- What is the function of Penetration Testing?
- What is the predicted revenue generation of the Penetration Testing market?
- At what growth rate is the Penetration Testing market evolving?
- Who are the major market giants operating in the Penetration Testing market?
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