Market Highlights:
The global penetration testing market is expected to exhibit a strong 26% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global penetration testing market is profiled in great detail in the report, which examines the past and present growth trajectory of the market in order to make studied forecasts about the market’s future over the forecast period. All major factors affecting the global penetration testing market’s movement over the forecast period are examined in detail in the report. The major drivers and restraints affecting the global penetration testing market are profiled in the report. In this way, the movement and trajectory of the global penetration testing market is explained in detail in the report. The competitive landscape of the global penetration testing market is also explained in detail in the report. The major players operating in the global penetration testing market are profiled in the report. The impact of the global COVID-19 pandemic on the global penetration testing market is also explained in the report.
Penetration testing, also known as pen testing, is a framework for testing information systems and supporting applications. In penetration testing, the security of information systems is tested to see how far intruders can penetrate into them. Penetration testing has become an important framework for information systems in recent years due to the increasing risk of cybercrime. Cybercrime has become a major concern for law enforcement agencies in recent years. With advancements in cyber technology, the efforts of cyber criminals have become more refined over the years, with highly sophisticated cyber-attack tools being used by modern cybercriminals in order to break into highly secure information vaults. Thousands of firms reported data breaches due to cybercrime in 2019, with the number set to increase in the coming years. In many countries, the law enforcement agencies may lack the tools to apprehend and identify the criminals operating the cybercrime operations. This has further enhanced the severity of cybercrime and made it a bigger concern for law enforcement agencies around the world.
Growing demand for penetration testing from the healthcare and BFSI sectors is likely to be a major driver for the global Penetration Testing Market over the forecast period. Growing digitalization in these two sectors has been a prominent trend in the 21st century. This has opened up these vital sectors to cybercrime, as hackers try to either appropriate money or steal confidential user information. This is likely to remain a major driver for the global penetration testing market over the forecast period.
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Key Players
Some of the key players of penetration testing market are Core Security SDI Corporation (U.S.), Redteam Security Consulting (U.S.),Context Information Security (U.S.), and Rapid7, Inc. (RPD) (U.S.). Qualys, Inc. (QLYS) (U.S.), Veracode (U.S.), Trustwave Holdings, Inc. (U.S.), Acunetix (Malta), Hewlett Packard Enterprise (HPE) (U.S.), IBM Corporation (U.S.), Cigital Inc. (U.S.), and WhiteHat Security (U.S.), and Checkmarx (Israel) are among others.
Segments
The Penetration Testing Market is differentiated by type, component, deployment, organization size, and end-user.
By component, the penetration testing market is sub-segmented as services and testing solutions. By services, the market is sub-segmented into professional services and managed services. The professional services are further segregated into consulting services, implementing & integrating services, and training services. The testing solutions are segregated as network penetration testing, web application penetration testing, mobile application penetration testing, social engineering, wireless penetration testing, and others.
By organization type, the market is segregated into large enterprise and small & medium enterprise.
Additionally, by type, the market is classified external testing, blind testing, internal testing, and double blind testing.
Furthermore, on the basis of deployment, the market is sub-divided into on-cloud and on-premises. Additionally, on the basis of organization size, the market is classified as small and medium enterprises and large enterprises.
By end-user, the market is sub-divided into IT & telecom, BFSI, manufacturing, energy & power, healthcare, media & entertainment, and others.
Regional Analysis
Geographically, the penetration testing market is categorized into four different regions, namely North America, Asia Pacific, Europe, and the Rest of the World.
North America penetration testing market is expected to have significant growth over the forecast period. U.S. and Canada are leading countries in the region owing to the presence of IT giants, such as IBM Corporation, and Oracle Corporation. Asia Pacific region is expected to be the fastest growing region in penetration testing market. China, India, Japan, and South Korea are the leading countries in the region. This is due to an increase in the number of small and medium enterprises in IT sector. Additionally, India is expected to be the fastest growing country in the Asia Pacific region owing to, government initiatives to boost the startups involved in IT sector.
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