The growing demand for cloud computing products and services as well as the rising number of data breaches are driving the growth of the global penetration testing market.
Over the course of the forecast period, the BFSI segment is anticipated to be the most alluring in terms of value in the worldwide penetration testing market. In 2017, this market will probably be worth more than US$ 95 Mn. With a market cap of more than US$ 85 Mn in 2016, the BFSI segment dominated the market. It is anticipated that this trend would continue during the projected period as well. The category is anticipated to surpass US$ 370 Mn in 2027, helping to fuel the expansion of the worldwide penetration testing market.
Due to its relative affordability and lack of need on specialised IT infrastructure, the use of cloud-based services is rapidly expanding throughout the world. Penetration testing is anticipated to develop dramatically in the next years as a result of the expanding use of cloud-based solutions and services for numerous workloads, including email services, data backups, CRM, and collaboration apps. Software vulnerabilities increase as a result of cloud deployment, as does the software's accessibility to unauthorised users.
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Global Penetration Testing Market: Key Regulations
Australia: Mandatory to report data breaches
A law passed in February 2017 by the government of Australia makes it mandatory for organisations to report data breaches. The law also directs organisations to have response strategies in place in case of data breach incidents.
Japan: Cyber security basic act
In January 2015, the cyber security basic act was passed to comprehensively plan roles and responsibilities of the government in providing national security. This act encourages infrastructure providers as well as educational and research institutions to implement appropriate security measures to protect their critical data from security threats.
UAE: Implementation of cyber security laws
Laws in UAE have penalised any act that results in suspending, disabling or destroying a network, causing partial or complete loss of data. The law also has provisions to penalise anyone who is convicted of obstructing access to computer networks or of using their knowledge of cyber technologies for any sort of criminal activity.
Singapore: Computer misuse and cyber security act
In April 2017 Singapore made changes to its computer misuse and cyber security act to criminalise the act of using and trading data with a criminal intent.
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Market Taxonomy
Type
Component
Enterprise Size
Vertical
Region
Table of Content
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
2.1. Market Taxonomy
2.2. Market Definition
2.3. Market Snapshot
3.1. Macro-Economic Factors
3.2. Opportunity Analysis
3.3. Key Regulations
4.1. Market Size and Y-o-Y Growth
4.2. Absolute $ Opportunity
4.3. Value Chain
4.4. Challenges
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Feb 01, 2023