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Penetration Testing Market Worth $4.05 Billion by 2029

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amey shinde
Penetration Testing Market Worth $4.05 Billion by 2029

Penetration Testing Market Worth $4.05 Billion by 2029


A penetration test, colloquially known as a pentest or ethical hacking, is an authorized simulated cyberattack on a computer system, performed to evaluate the security of the system;[1][2] this is not to be confused with a vulnerability assessment.[3] The test is performed to identify weaknesses (also referred to as vulnerabilities), including the potential for unauthorized parties to gain access to the system's features and data,[4][5] as well as strengths,[6] enabling a full risk assessment to be completed.

According to the latest publication from Meticulous Research®, the global penetration testing market is expected to reach $4.05 billion by 2029, at a CAGR of 12.5% during the forecast period 2022–2029. The growth of this market is driven by a surge in the need to identify cybersecurity threats and risks across enterprise networks, adherence to regulatory compliance and laws for the implementation of penetration testing solutions and services, and the growing demand for web application firewalls. However, the high turnaround time and cost may restrain the implementation of penetration testing technologies.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 @https://www.meticulousresearch.com/download-sample-report/cp_id=5381?utm_source=product&utm_medium=Social&utm_campaign=Product&utm_content=25-01-2023

In addition, the rising demand for cloud computing solutions among SMEs, the growing need for PTaaS and security assessment, increasing awareness regarding the benefits of penetration testing technology in the medical field/imaging, the increasing initiatives by governments for digitalization in penetration testing, and the rising number of data centers are expected to offer significant opportunities for growth of this market. The lack of skilled professionals is a major challenge to the growth of this market.

The global penetration testing market is segmented by offering, position, method/depth, test type, visibility, organization size and end user. The study also evaluates industry competitors and analyzes the market at regional and country levels.

Based on offering, the global penetration testing market is segmented into solutions and services. In 2022, the solutions segment is expected to account for the largest share of the global penetration testing market. The large market share of this segment is attributed to various enterprises that rapidly accept it for its flexible, affordable, easy, and scalable features. Additionally, it provides the highest level of data security and reliability. Furthermore, the increasing use of internet services, collaboration among antivirus providers and technology manufacturers such as mobile and computer, and internet banking and e-commerce transaction fuel the need for solutions. However, the services segment is projected to register the highest CAGR during the forecast period.


Based on position/location, the global penetration testing market is segmented into external network and internal network. In 2022, the external network segment is expected to account for the largest share of the global penetration testing market. The large market share of this segment is attributed to identifying security exposures and vulnerabilities before hacking, ensuring compliance with security standards and regulations, and rising demand for a faster and cheaper network. However, the internal network segment is projected to register the highest CAGR during the forecast period.


Based on method/depth, the global penetration testing market is segmented into black box testing, white box testing, and gray box testing. In 2022, the gray box testing segment is expected to account for the largest share of the global penetration testing market. The growth of this segment is attributed to the rising demand for efficiency and accuracy of testing in organizations, a surge in the number of aspects in web applications, and the growing need to test domains based on necessity. However, the white box segment is projected to register the highest CAGR during the forecast period.


Based on test type, the global penetration testing market is segmented into infrastructure or network testing, application testing, wireless (Wi-Fi) testing, configuration/build review testing, social engineering, and other test types. In 2022, the infrastructure or network testing segment is expected to account for the largest share of the global penetration testing market. The large market of this segment is attributed to the rising need for identifying exposed vulnerabilities and security weaknesses in the network infrastructure such as servers, firewalls, switches, routers, printers, and workstations, rising penetration of integrated security solutions & IP traffic, and increasing demand for better and more intelligent testing solutions that assess unauthorized access and leak of confidential, sensitive or personal information from within the organization. However, the application testing segment is projected to register the highest CAGR during the forecast period.


Based on visibility, the global penetration testing market is segmented into overt penetration testing, convert penetration testing, and automated penetration testing. In 2022, the covert penetration testing segment is expected to account for the largest share of the global penetration testing market. The large market of this segment is attributed to the rise in the number of vulnerabilities not only in the system but also undetected vulnerabilities to a system, growing demand among organizations to test the IT security teams' ability to respond to a cyberattack, and adherence to law enforcement. However, the automated pen testing segment is projected to register the highest CAGR during the forecast period.


Based on organization size, the global penetration testing market is segmented into large enterprises and small and medium-sized enterprises. In 2022, the large enterprises segment is expected to account for the largest share of the global penetration testing market. The large market share of this segment is attributed to the early adopters of advanced technologies such as AI and blockchain that directly impact revenue growth, increasing focus on developing strategic IT initiatives, and consistently deploying state-of-the-art firewall protection solutions to stay ahead of cybercriminals. However, the small and middle-sized enterprises segment is projected to register the highest CAGR during the forecast period.


Based on end user, the global penetration testing market is segmented into BFSI, manufacturing, retail & e-commerce, education, IT & telecommunication, healthcare, media & entertainment, transport & logistics, automotive, government & public sector, and other end users. In 2022, the BFSI segment is expected to account for the largest share of the global penetration testing market. The large market share of this segment is attributed to the large volume of highly sensitive financial data of individuals, governments, and public and private corporations that are highly vulnerable to data breaches and cyberattacks, the rapidly increasing transactions through cloud-based QR/UPI, growing need to ensure confidentiality, integrity, and operations of customer transactions, and the enforcement of regulatory security compliance. However, the healthcare industry segment is projected to register the highest CAGR during the forecast period.


Based on geography, the global penetration testing market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2022, North America is expected to account for the largest share of the penetration testing market. The growth of this region is attributed to the rise in the number of cyberattacks on networks, especially in private and government companies, a surge in demand for advanced security and vulnerability management solutions in the healthcare industry, and increasing investments for R&D process and widespread adoption of the penetration testing technology across various verticals, growing emphasis towards web security & privacy concerns, and rise emergence of disruptive digital technologies. However, the Asia-Pacific region is projected to register the highest CAGR during the forecast period.

𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝘀𝗮𝗺𝗽𝗹𝗲 https://www.meticulousresearch.com/speak-to-analyst/cp_id=5381?utm_source=product&utm_medium=Social&utm_campaign=Product&utm_content=11-01-2023

Key Players


The key players operating in the global penetration market are Rapid7 (U.S.), Synopsys, Inc. (U.S.), Cisco Systems, Inc. (U.S.), International Business Machines Corporation (U.S.), Acunetix (U.K.), ASTRA IT, Inc. (U.S.), ScienceSoft (U.S.), SECURIFY BV (Netherlands), BreachLock Inc. (U.S.), Fortinet, Inc. (U.S.), SecureWorks, Inc. (U.S.), Netragard (U.S.), Cigniti Technologies Ltd. (U.S.), Rhino Security Labs, Inc (U.S.), FireEye (U.S.), Veracode (U.S.), NetSPI LLC. (U.S.), Trustwave Holdings, Inc. (U.S.), Coalfire (U.S.), and Software Secured (Canada).

Scope of the Report:


Penetration Testing Market, by Offering


Solutions

Encryption & Authentication Flaws

Vulnerability Assessment

Network Monitoring & Scanning

SQL Injection Attacks

Threat Identification

Security Evaluation

Risk & Compliance Management

Other Solutions

Services

Professional Services

Managed Services

Penetration Testing Market, by Position/Location


External Network

Internal Network

Penetration Testing Market, by Method/Depth


Black Box Testing

White Box Testing

Gray Box Testing

Penetration Testing Market, by Test Type


Infrastructure or Network Testing

Application Testing

Web Application

Mobile Application

Wireless (Wi-Fi) Testing

Configuration/Build Review Testing

Social Engineering

Onsite

Remote

Other Test Types (Cloud Security Testing, Hardware Testing, End-0point/Kiosk PC Testing, and IoT, IoMT & OT Testing)

Penetration Testing Market, by Visibility


Overt Penetration Testing

Convert Penetration Testing

Automated Penetration Testing

Penetration Testing Market, by Organization Size


Large Enterprises

Small and Medium-sized Enterprises

Penetration Testing Market, by End User


BFSI

Manufacturing

Retail & E-commerce

Education

IT & Telecommunication

Healthcare

Media & Entertainment

Transport & Logistics

Automotive

Government & Public Sector

Other End Users (Aerospace & Defense, Travel & Hospitality, and Energy & Utility)

Penetration Testing Market, by Geography


North America

U.S.

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia & New Zealand

Singapore

Malaysia

Indonesia

Rest of Asia-Pacific

Europe

Germany

U.K.

France

Italy

Spain

Russia

Netherlands

Sweden

Rest of Europe

Latin America

Brazil

Mexico

Rest of Latin America

Middle East & Africa

UAE

Israel

Saudi Arabia

Rest of Middle East & Africa

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗦𝗮𝗺𝗽𝗹𝗲 𝗥𝗲𝗽𝗼𝗿𝘁 @https://www.meticulousresearch.com/download-sample-report/cp_id=5381?utm_source=product&utm_medium=Social&utm_campaign=Product&utm_content=25-01-2023

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