Penetration Testing Market size was valued at US$ 1.63 Billion in 2021 and the total Penetration Testing revenue is expected to grow at 16.5% through 2021 to 2029, reaching nearly US$ 5.53 Billion.
Penetration Testing Market Overview
The global business consulting firm Maximize Market Research has announced a global business intelligence report on the Penetration Testing market. The report indicates the lucrative growth for Penetration Testing market suppliers in the forecast period through 2029. The report provides a competitive and pricing analysis along with the regional demand and supply and production analysis in it. It specifies its main segmentation and key drivers of the industry.
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Market Scope
The market intelligence report on Penetration Testing market provides the readers with valuable information on the specific market drivers, challenges, restraints and market penetration and the opportunities prevailing in the market. The detailed analysis of the various segments of the market helps the stakeholders and investors to formulate investments and production decisions. While researching the market the quantitative and qualitative methods are used to properly analyse the industry. The sizes of the market and growth rate are covered in the report. The keys players and the new entrants in the market are analysed to understand a comprehensive competitive analysis.
Research tools are also used to understand the market’s strength, weakness, new opportunities and challenges coming in forecast period. Tools such SWOT, PESTLE and PORTER’s five forces are used to analyse to understand underlying factors affecting the industry.
Market Dynamics
The stringent government regulations requiring businesses to conduct regular penetration tests or face penalties are a major factor driving the global penetration testing market. The NIS (Network and Information Systems) and SOC are two common directives (Systems Organization and Control). The increase in demand for penetration testing as a service is another factor boosting the global market (PTaaS). This facilitates the planning and execution of penetration tests on various apps by IT professionals.
Segmentation
Web application penetration testing, mobile application penetration testing, network penetration testing, and other are the segments listed by type. In the forecast period, mobile application usage is expected to increase at a CAGR of 6.8%. (2021-2027). The high demand for E-Commerce applications like Amazon and Zomato in the global IT market 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 aid of penetration testing. In April 2021, the personal information of over 530 million Facebook users was exposed online.
In terms of industry, the banking and finance sector, government, and defence, 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, during the aforementioned forecast period, cyber-attacks on government databases like these are expected to fuel the growth of the government and defence segment in the global market. A ransomware attack that targeted the US financial institution CNA in March 2021 resulted in a three-day interruption of employee and customer services.
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Key Players
• WhiteHat Security
• Checkmarx
• FireEye
• Micro Focus
• Secureworks
• Rhino Security Labs
• Immuniweb
• PortSwigger Web Security
• iSECURION
• Core Security SDI Corporation
• Redteam Security Consulting
• Context Information Security
• Rapid7, Inc.
• Qualys, Inc
• Veracode
• Trustwave Holdings, Inc
• Acunetix
• Hewlett Packard Enterprise
• IBM Corporation
• Cigital Inc
Regional Analysis
Penetration Testing Region dominated the market in 2021 and is also expected to witness the significant growth during the forecast period. The regional analysis in the report includes geographic condition of the market revenue as well as in depth research into the business network structure, opportunities and news updates. It also guides investors to plan the market strategies which are suitable and applicable in specific regions.
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Key Questions answered in the Penetration Testing Market Report are:
Key offerings:
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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Penetration Testing Market , Penetration Testing Market Analysis , Penetration Testing Market Trends
Mar 08, 2023
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