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.
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