Penetration Testing Market Advancements Research Report By Offering (Solution, Services), By Application Area (Web Applications, Mobile Applications, Network Infrastructure, Social Engineering, Cloud, Others), By Deployment Mode (Cloud-Based, On-Premises), By Organization Size (Small and Medium-Sized Enterprises, Large enterprises), By End-User (BFSI, Healthcare, IT and ITeS, Telecom, Retail and eCommerce, Manufacturing, Education, Others), By Region, Insights, Trends, Drivers & Forecast Till 2024-2030

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Penetration Testing Market Snapshot

“The Penetration Testing Market Predictable at $1100 Million in 2023, is estimated to increase at a CAGR of 13.8% from $1810 Million by 2024 to $7100 Million by 2030.”

The definition of penetration testing

A penetration test, sometimes referred to as a pen test, simulates a cyberattack on your computer system in order to look for weaknesses that could be exploited. Penetration testing is frequently used to supplement a web application firewall (WAF) in the context of web application security.

Pen testing is the process of attempting to compromise any number of application systems (such as frontend/backend servers, APIs, and application protocol interfaces) in order to find weaknesses like unsanitized inputs that could be attacked by code injection.

The penetration test's insights can be used to improve your WAF security policies and fix vulnerabilities that are found.

Penetration Testing Market | Market Report Service

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Demand Outlook

The demand for penetration testing services is on the rise due to increased awareness of cybersecurity issues and data breaches, emphasizing the importance of proactive testing to identify vulnerabilities and prevent malicious actors from exploiting them.

Companies are increasingly investing in penetration testing to enhance system and data security, in line with stricter data privacy laws and compliance standards implemented by various sectors and geographical areas, to avoid potential fines.

Penetration testing is adaptable to new cybersecurity threats like cloud infrastructure, mobile applications, and IoT devices, as its techniques and tools evolve to address new attack routes and vulnerabilities.

Market Dynamics

Growth Drivers

Organizations increasingly utilize cloud-based solutions for various tasks like CRM, email services, data backups, and collaboration services.
Big businesses have been targeted by high-profile data breaches, raising concerns about potential revenue loss, brand damage, and customer loyalty.
Organizations are increasingly utilizing cybersecurity solutions like intrusion detection systems, firewalls, and penetration testing to protect their cloud workloads and mitigate cyber risks.
The increasing amount of data center locations is among the primary reasons behind this growth since penetration testing is an important component that provides the highest level of security within the data center, which can boost the market for penetration testing across the world. The test can also be beneficial for companies when conducting security assessments or security audits. The demand for data has increased due to the rising popularity of smartphones and mobile phones, the rise in industrial automation and the accessibility of high-speed internet connections.
The growth in volume of data presents a variety of opportunities for data centers since businesses are strongly inclined towards modernizing their services and operations which is resulting in a growing dependency on data center. Additionally, the growing adoption of cloud computing platforms is also driving the market for penetration testing.
Cloud computing is a Cloud computing platform provides a myriad of new business opportunities and capabilities for industries and enterprises. Cloud-based storage is rapidly gaining popularity among businesses and is replaces traditional servers. Cloud computing platforms are affordable and will help to boost business growth with only a small cost. For instance, in the year 2018, Amazon accounted for nearly 25 USD Bn through its cloud computing services.
Additionally, Apple is investing about USD 306 million into Amazon's cloud every year. However, its cloud-based solutions are more prone to being attacked, which is driving the need for security against malicious code. Thus, these factors increase the need for penetration testing to provide additional security on cloud computing platforms. This is why these factors are driving the demand for penetration testing over the next few years.

Penetration Testing Market Segment Analysis

Safeguarding Digital Networks by Leading the Way in Network Security

In the world of testing penetration, testing penetration of networks is expected to take the lead, capturing an impressive market share of 34.3 percent in 2024. The focus of the category is to evaluate the security of networks by identifying any vulnerabilities and assessing the security of a network's security against cyber-attacks.

While networks remain the backbone of digital activities, making sure their security is of paramount importance. The increasing complexity of network environments together with the ever-changing cyber threat landscape, is driving the need for penetration tests. The dominance of the market underscores the crucial role that security of networks is playing in protecting digital assets and information.

Software Security Imperative Dominating the Penetration Testing Landscape

The category of software is set to increase dramatically, with the market with a substantial share of 63.5 percent in 2024. This market highlights the growing importance of securing software and systems in a time of digital change. Since software plays an integral part in almost every aspect of modern-day business operations, weaknesses in software can provide a way to cyberattacks.

Testing for penetration within the domain of software plays a crucial role in identifying and eliminating these weaknesses, as well as in ensuring that the systems and applications are able to withstand cyber attacks. The increase in the use of software-based solutions like mobile applications and web platforms makes it more important to conduct penetration testing for software to ensure the integrity of data and safeguard digital assets.

Competitive Landscape of the Penetration Testing Market

IBM Corporation
Microfocus
Qualys Inc.
Synopsys Inc.
Core Security SDI Corporation
Whitehat Security
Trustwave Holdings Inc.
com LTD
VERACODE Inc.
Secure Works Inc.
Acunetix

Recent Developments in Penetration Testing Market

15^th Feb, 2023: Belgium launches nationwide safe harbor for ethical hackers

5^th Dec, 2023: Disney+ Cyber Scheme Exposes New Impersonation Attack Tactics

In October 2022, Veracode, a prominent global provider of application security testing solutions, unveiled a significant enhancement to its continuous software security platform. The development introduced container security as an integral component of its comprehensive suite.

In April 2022, Rapid7, a prominent leader in security analytics and automation, introduced a significant philanthropic initiative known as the Rapid7 Cybersecurity Foundation. The core mission of the Rapid7 Cybersecurity Foundation is to bridge the security achievement gap by enhancing accessibility to cybersecurity resources for underrepresented and underserved communities.

Penetration Testing Market Regional Insights

Market Dominance in Cybersecurity in the United States

The United States expanded at a CAGR of 6.1 percent until 2030 in the market for penetration testing. The robust cybersecurity industry in the country and a wide range of companies which are focused on protecting their data and strict compliance requirements have contributed to its leadership in the market.

As cyber-attacks grew more sophisticated, American companies invested significantly in penetration testing in order to detect weaknesses. The trend is likely to continue and US companies United States playing a pivotal part in shaping the global landscape of penetration testing.

Rapid Digital Transformation Surges the China Market

China experienced significant growth and has an increase of 17.5 percent in 2030. This makes China an important participant in the global market for penetration tests. The rapid transformation of the country's digital landscape and the emergence of online activities boosted the demand for cybersecurity solutions such as penetration testing.

China companies recognized the importance of protecting their digital assets as well as sensitive information, resulting in an increase in market share. While China grows its footprint in the digital world and expand its penetration testing market, its share of penetration testing industry is expected to grow significantly, which is a reflection of the changing cybersecurity landscape in China.

Commitment to Cybersecurity and Data Protection in the United Kingdom

The United Kingdom accounted for a CAGR of 4.3 percent in 2030, which demonstrates its commitment to data security and cybersecurity. British organizations and government agencies have a strong focus on penetration testing as an effective way to safeguard their digital infrastructures.

With the rise of cyber-attacks and stricter compliance requirements increasing the need of penetration tests within the United Kingdom is expected to rise. This demonstrates the commitment of the country to maintaining a solid security position and adjusting to new cybersecurity threats.

Proactive Adoption of Penetration Testing in Germany

Germany has grown at a rate of 4.5 percent until 2030, which reflects the country's is focusing on security and privacy of data. German companies, renowned for their industrial strength acknowledged the importance of identifying and reducing the risks.

The need for regulatory requirements and a proactive approach to cybersecurity led to the development test penetration. As the Germany security landscape changes and the penetration testing market shares increase, penetration testing is anticipated to remain significant, which is a sign of the commitment of the country to protecting data.

Technological Advancements and Digitization in Japan

The country's advanced technological landscape and numerous digitization initiatives led to the booming need for penetration test which is expected to grow by 13.5 percent in 2030. Japan companies have emphasized security measures to safeguard sensitive data and vital infrastructure.

In light of Japan constant technological advances and the changing threats the security market for penetration tests is likely to continue to be a major player in Japan, confirming its position as a leading cybersecurity expert.

Segments Covered in the Penetration Testing Market

Penetration Testing Market by Type

Network Penetration Testing
Web Application Penetration Testing
Mobile Application Penetration Testing
Social Engineering Penetration Testing
Cloud Infrastructure Penetration Testing

Penetration Testing Market by Component

Software
Pen-test Services (Consulting and Software-as-a-Service)

Penetration Testing Market by Enterprise Size

Small and Medium Enterprises
Large Enterprises

Penetration Testing Market by Vertical

BFSI
Healthcare and Life Sciences
Consumer Goods and Retail
Automotive
IT and Telecommunication
Media and Entertainment
Government
Others

Penetration Testing Market by Region

North America
Latin America
Western Europe
Eastern Europe
South Asia and the Pacific
East Asia
Middle East and Africa

Frequently Asked Questions:

What is the expected Penetration Testing Market value by 2030?

Penetration Testing Market Predictable at $1100 Million in 2023, is estimated to increase at a CAGR of 13.8% from $1810 Million by 2024 to $7100 Million by 2030.

Which is the Leading Component in the Penetration Testing market?

Software is preferred and are expected to rise at a market share of 63.5% in 2024.

Who are the prominent players operating in the Penetration Testing Market?

The major players operating in the Penetration Testing Market are IBM Corporation, Microfocus, Qualys Inc., Synopsys Inc., Core Security SDI Corporation, Whitehat Security

Base Year:2022

Historical Data:2018-2022

No of Pages:123

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