New York, United States: Quadintel Research has recently released a comprehensive intelligence report titled ” Penetration Testing Market “Outlook, Size, Share, Competitive Landscape, Technology, Latest Updates, and Forecasts to 2030. This report provides a detailed analysis at the micro-level, focusing on insurers, key business segments, offerings, and sales channels within the sector. The competitive assessment section of the report presents an overview of competitors, their financial situations, recent developments, competitive analysis, and market advancements. By examining the strengths and weaknesses of major competitors, this analysis facilitates market players in identifying viable opportunities more effectively.
The report covers both pre and Post – COVID analysis | The final report will include an in-depth analysis of the impact of the Russia-Ukraine war and the COVID-19 pandemic on the industry.
The global penetration testing market size was US$ 1.7 billion in 2021. The global penetration testing market size is forecast to reach US$ 6.99 billion by 2030, growing at a compound annual growth rate (CAGR) of 17.8% during the forecast period from 2022 to 2030.
The goal of penetration testing is to simulate a cyber-attack exploiting a vulnerability in a computer system. This term refers to ethical hacking, which is often used in web applications to find security vulnerabilities that an attacker could exploit. An advanced set of technologies enables penetration testing to automate with the help of software applications. The main purpose of penetration testing is to gather information about a system or network that identifies possible entry points then breaks into the system either in real-time or with simulated methods.
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Factors Influencing Market Growth
Increasing regulations and compliances thus, mandating penetration testing practices, more sophisticated cyberattacks resulting in business-critical financial and reputational losses, and an increase in the penetration of mobile devices are the major factors driving the global penetration testing market growth.
Penetration testing-as-a-service (PTaaS), remote working security assessments, and integrating technologies like artificial intelligence and machine learning in penetration testing would provide lucrative opportunities for the vendors in the global market.
The high cost of conducting the test may slow down the overall market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic had a positive impact on the global market. A number of nations declared a lockdown to combat the spread of the virus. As a result, many companies began to work from remote locations. A number of companies started digitizing their business, which led to soaring demand for cybersecurity solutions and penetration testing services. Employees were able to use the company’s data on their personal devices, which raised the chances of data breaches and data loss. Therefore, these factors led to the gradual growth of the penetrating testing market.
Regional Insights
North America accounted for the largest market in 2021 and is forecast to continue to dominate during the forecast period. The penetration testing market in this region is growing due to technological advancements and early adoption. The need for regulatory compliance, rising security concerns, and evolving cyberattacks contribute to the penetration testing market growth in the region.
The Asia Pacific region is forecast to grow at the fastest rate during the forecast period. As a result of the increasing adoption of mobile devices in this region. APAC countries adopt penetration testing technologies widely to protect data from theft. Government initiatives such as Digital India and the increased use of mobile applications and web-based apps across sectors are driving the rapid digitalization of processes in developing countries such as India, thus driving the market growth in the region
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Leading Competitors
The leading prominent companies profiled in the global penetration testing market are:
Rapid7
FireEye, Incorporated
Micro Focus International plc
International Business Machines Corporation
Secureworks, Incorporated
ScienceSoft Incorporated
Acunetix
Netsparker
Veracode
Core Security Technologies
HackerOne
ImmuniWeb
Raxis
Rhino Security Labs, Incorporated
Checkmarx
PortSwigger
Indium Software
Other Prominent Players
Segment Analysis
The global penetration testing market segmentation focuses on Offering, Application Area, Deployment Mode, Organization Size, Vertical, and Region.
Segmentation based on Offering
Solution
Services
Segmentation based on Application Area
Web Applications
Mobile Applications
Network Infrastructure
Social Engineering
Cloud
Others
Segmentation based on Deployment Mode
Cloud
On-Premises
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Segmentation based on Organization Size
Small and Medium-Sized Enterprises
Large Enterprises
Segmentation based on Vertical
Banking, Financial Services, And Insurance
Healthcare
IT and ITeS (information technology enabled services)
Telecom
Retail and Ecommerce
Manufacturing
Education
Others
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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