March 29, 2020
Penetration Testing

Penetration Testing Market: Know the Target Value, Share, Size and Business Opportunities

The market for penetration testing is set to grow by 26.5 per cent CAGR over the forecast period from 2019 to 2027, starting from $850.2 million in 2018.

Market Insights

The global market for penetration testing is driven by an increasing amount of data generated in various industrial sectors and an increasing threat of cyber attacks. In order to secure the generated data, it is essential to understand the vulnerabilities of the security network and to protect enterprise applications. Penetration testing plays a vital role in tracking such vulnerabilities and helping organizations with massive losses. The emergence of the Internet of Things has also given rise to the use of smart devices for personal and commercial use, which has created a need to implement security measures and to protect devices from cyber attacks.

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Globally, there is rapid growth in adoption of mobile technology. Increasing number of mobile users leads to increasing usage of web based applications which also needs penetration testing to stay secure and harmless. Moreover, in order to meet the security compliance requirements it is essential to conduct a penetration test. These factors drive the growth of penetration testing market across the globe. However, lack of skilled personnel and lack of awareness in various developing and underdeveloped countries is likely to restrain the growth of penetration testing market during the forecast period.

Based on type, the wireless penetration testing segment is likely to witness a double digit growth during the forecast period. This high growth is attributed to rapid development of wireless infrastructure and increasing adoption of connected devices for personal as well as commercial use. Penetration testing is used to protect the wireless set-ups and the devices connected over it. The penetration testing is largely adopted in the government and defense sector to ensure the safety and security of the wireless infrastructure.

Geographically based, North America held a leading market share of over 35 per cent in 2018 due to technological advances and increased adoption of mobile devices and web applications. However, Asia-Pacific is likely to see the fastest growth in the forecast period. As a large number of companies are expanding their presence in emerging Asia-Pacific countries, the market for penetration testing is expected to grow rapidly. The development of the information technology industry and the rapid penetration of web-based applications are driving the growth of this regional segment.

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Key players in the Penetration Testing market are Acunetix, Rapid7, Inc., Cigital, Inc., Cisco Systems, Inc., Veracode, Synopsys, Inc., Trustwave Holdings, Inc., WhiteHat Security, Checkmarx, Qualys, Inc., Hewlett Packard Enterprise (HPE), IBM, and Portswigger Ltd.

Segmentation
Type Segment (2017–2027; US$ Mn)
• Network penetration testing
• Web application penetration testing
• Mobile application penetration testing
• Social engineering
• Wireless penetration testing
• Others

Deployment Model Segment (2017–2027; US$ Mn)
• On-Premises
• Cloud

Organization Size Segment (2017–2027; US$ Mn)
• Small and Medium Enterprises (SMEs)
• Large enterprises

Industry Verticals Segment (2017–2027; US$ Mn)
• Government and defense
• Banking, Financial Services, and Insurance (BFSI)
• IT and telecom
• Healthcare
• Retail
• Others

Geography Segment (2017–2027; US$ Mn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)

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David Brown

David Brown

Experienced Market Research Analyst with a demonstrated history of working in the market research industry. Skilled in Secondary Market Research, Primary Market Research, Client Interfacing. - Identify, collect and organize data for use in research projects - Provide fundamental analysis for research projects - Review data to ensure its quality and integrity - Market estimates and forecast based on homegrown forecasting models - Identifying potential titles for syndicated research projects - Analyzing, estimating and forecasting various industry/market using various analysis tools and forecasting models - Conducting secondary research - Company profiling and analyzing competitive landscape - Report writing And Quality check

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