The Global Penetration Testing Market size is expected to reach $3.1 billion by 2027, rising at a market growth of 12% CAGR during the forecast period. Penetration testing, also commonly known as ethical hacking or pen testing, is performed to test a network, computer system, and web application to identify security weaknesses including the possibility to access the system’s data & features by unauthorized parties and strengths that allows a full risk assessment to be completed. Penetration testing is the method of testing, which is used to increase and measure the installed security solutions on various devices like computers, mobile phones, and other information systems.
The factors such as the rising number of cyberattacks leading to the major losses in reputation & financial of companies, growing severe regulations, and compliances mandating regular penetration testing practices are anticipated to surge the growth of the penetration testing market. In addition, massive usage of smartphones has also increased the use of mobile-based business-critical applications and growing internet penetration are some determinants that would offer lucrative opportunities to the penetration testing solutions. Additionally, integration of technologies like machine learning & artificial intelligence, remote working security assessments, and growing trends of penetration testing-as-a-service (PTaaS) is anticipated to create new avenues for growth for the vendors offering penetration testing solutions.
The outbreak of the COVID-19 pandemic has severely affected various industries across the world. The disease has spread in most of the countries and WHO declared it a public health emergency. Also, the coronavirus had a negative impact on the penetration testing market. The COVID-19 outbreak affected the global economy in different ways like disrupting the supply chain and market, reduced the demand and production rate, and heavy loss of the industries. In addition, the government has imposed severe restrictions on movement due to which flights were canceled, traveling was banned and among others.
During the pandemic, many companies started working from remote areas. Employees were given instructions to follow the stringent norms of the COVID-19 pandemic to avoid face-to-face interactions and maintaining social distance. Several companies started to digitalize their business, which increased the demand for various cybersecurity solutions and penetration testing solutions. Employees got access to use the company’s data on their personal devices, which surged the chances of data breaching and data loss. All these factors are accountable to gradually surge the demand for the penetrating testing market.
The government has implemented certain regulations like OWASP, NIS, SOX, SOC2, PCI, DSS, and GDPR according to which, it is necessary to conduct penetration testing at regular intervals and companies will be charged, if they unable to follow the rules strictly. As stated by REdScan, companies are anticipated to adopt the process of penetration testing at regular intervals and for evaluation of the efficiency of technical and company’s measures to secure the data processing.
Cloud-based penetration testing is also known as penetration testing-as-a-service (PTaaS) and the cybersecurity industry is observing a surge in the trends of PTaaS. PTaaS helps in offering the resources that are required by IT professionals to organize and act upon the penetration tests. This test includes continuous monitoring and generates reports that allow users to view results in real-time.
The major problem of the companies is to deal with the smaller number of skilled security experts and hence, is responsible for slowdown the capability of companies that face growing cybersecurity needs. Several companies hire people to identify and analyze cyber threats but these people are also highly qualified, and thus, are unable to succeed in preventing the data from cyber attackers. In addition, the installation of penetration testing solutions requires a large investment, which is another factor hampering the growth of the penetration testing market.
Based on Offering, the market is segmented into Solution and Services. The Solution market dominated the Global Penetration Testing Market by Offering 2020, growing at a CAGR of 11 % during the forecast period. The Services market is showcasing a CAGR of 14.1% during (2021 - 2027).
Based on Application, the market is segmented into Web Applications, Mobile Applications, Network Infrastructure, Social Engineering, Cloud, and Others. The Web Applications market dominated the Global Penetration Testing Market by Application 2020. The Mobile Applications market is experiencing a CAGR of 11.2% during (2021 - 2027). Additionally, The Network Infrastructure market is estimated to grow at a CAGR of 13% during (2021 - 2027).
Based on Deployment Type, the market is segmented into Cloud-based and On-premise. Like the traditional systems, cloud systems such as software-as-a-service (SaaS), infrastructure-as-a-service (IaaS), and platform-as-a-service (PaaS) are susceptible to security threats, misconfigurations, and weaknesses. Even though, cloud sellers are providing strong security controls to the companies on which companies can rely and transfer their confidential data on their cloud.
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. The Large Enterprises market dominated the Global Penetration Testing Market by Enterprise Size 2020. The Small & Medium Enterprises market is expected to witness a CAGR of 13.3% during (2021 - 2027).
Based on End User, the market is segmented into IT & Telecom, BFSI, Retail, Healthcare, Manufacturing, Education and Others. The medical industry is among the extensively normalized industries because of the sensitivity and a large number of medical information in healthcare centers. The chief rule for these centers is HIPAA that commands all centers that are collecting personal health information is to strictly follow the set rules. If centers fail to obey rules like HIPAA then, they are ought to pay a penalty for it. To protect healthcare centers from several cyberattacks, these laws and regulations are playing a crucial role and driving the demand for the deployment of penetration testing solutions and services in the healthcare sector.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 1.3 Billion |
| Market size forecast in 2027 | USD 3.1 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 12% from 2021 to 2027 |
| Number of Pages | 327 |
| Number of Tables | 574 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Offering, Application, Deployment Type, Enterprise Size, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Based on Region, Asia-Pacific is anticipated to garner the highest growth rate over the forecasting years. Asia-Pacific is witnessed as the fastest expanding mobile market coupled with the increasing deployment of mobile devices in this region. Several countries in this region like China, Japan, and Australia are excessively deploying penetration testing solutions to prevent breaching of their sensitive data. Based on research by International Data Corporation (IDC), Asia-Pacific is the leading region in the deployment of IoT technology, which comprises nations like Japan, Australia, and South Korea.
Free Valuable Insights: Global Penetration Testing Market size to reach USD 3.1 Billion by 2027
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; International Business Machines Corporation are the forerunners in the Penetration Testing Market. Companies such as HelpSystems, LLC, FireEye, Inc., Checkmarx Ltd. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Micro Focus International Plc, FireEye, Inc., HelpSystems, LLC, HackerOne, Inc., Rhino Security Labs, Inc., Indium Software, Inc., Vumetric, Inc., Offensive security Services, LLC, and Checkmarx Ltd.
By Offering
By Application
By Deployment Type
By Enterprise Size
By End User
By Geography
The penetration testing market size is projected to reach USD 3.1 billion by 2027.
Adopting business intelligence (BI) for superior performance are driving the market in coming years, however, concerns regarding Data privacy and security limited the growth of the market.
Salesforce.com, Inc., Oracle Corporation, Allbound, Inc., Mindmatrix, Inc., Kiflo SAS, AppDirect, Inc., Impartner, Inc., Affise, Inc., WorkSpan, Inc. and Creatio.
Several companies started to digitalize their business, which increased the demand for various cybersecurity solutions and penetration testing solutions.
Based on Deployment Mode, the cloud-based segment is expected to acquire the maximum revenue share over the forecasting years.
Based on vertical, the healthcare sector is estimated to witness the largest growth rate over the forecasting period.
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