Penetration Testing Market is Estimated to Reach 27% CAGR Forecast Period 2019-2023

Penetration Testing

Penetration testing, also known as ethical hacking or pen-testing, is primarily a framework to test the network, computer system, or web applications, to identify security vulnerabilities that an attacker could exploit. Moreover, it helps in improving the current security procedures on information systems and supporting applications. Penetration testing can be automated with software applications and it can also be performed manually.

The major aim of penetration testing is to find the gap in security system. This can also be used to test an organization's security policy, its adherence to compliance requirements, its employees' security awareness, and the organization's ability to identify and respond to security incidents.

The penetration testing market is estimated reach 3.2 bn by 2023, growing with a CAGR of 27% during the forecast period. The market is expected to witness growth during the forecast period due to the rising need for protection from various cyber-attacks and the growing number of connected device users across the globe.

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The market is further driven by the increasing deployment of web & cloud-based business applications across organizations. In addition to these, increasing security needs of the Internet of Things (IoT) and the rising Bring Your Own Device (BYOD) trend across various organizations are expected to propel the penetration testing market growth over the coming years.

This Penetration Testing market report covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An exclusive coverage has been provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments.

The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & products that will assist or affect the market in the near future.

The penetration testing market has been segmented based on the deployment type, organization size, testing services, and end-use industries. In testing services, the wireless penetration testing segment is expected to grow with a high CAGR during the forecast period, owing to the increasing use of wireless networks and connected devices. These are more susceptible to vulnerabilities and threats. Moreover, the web application penetration testing segment has dominated the penetration testing market in the year 2018 due to growing attacks on critical web applications of organizations.

Based on the organization size, the segmentation comprises small and medium enterprises (SMEs), and large enterprises. Among these, the large enterprises segment is anticipated to be the most attractive segment in the global penetration testing market during the forecast period.

Wireless penetration testing is growing with the highest CAGR during the forecast period

Penetration testing services are being used in securing wireless infrastructures and the associated connected devices. With the emerging IoT and BYOD trends, the increasing number of connected devices are more prone to vulnerabilities and Advanced Persistent Threats (APTs). The wireless penetration testing is expected to witness a high CAGR in the global penetration testing market during the forecast period. The wireless penetration testing helps in finding Wi-Fi networks, including wireless fingerprinting, information leakage and signal leakage, to restrict cyber-attacks.

North America is expected to dominate the penetration testing market in 2016
The North America region was dominating the global penetration testing market in the year 2018 and is expected to grow with a significant CAGR during the forecast period. This region is witnessing growth due to technological advancements and the early adoption of penetration testing.

Moreover, this region is growing due to the presence of IT companies such as IBM Corporation and Oracle Corporation, among others. APAC is expected to be the fastest growing region during the forecast period. India, Japan, and China are the leading countries in the region. This is further attributed to increase the growth of the IT sector.

The major players operating in the global penetration testing market include Core Security SDI Corporation, IBM Corporation, Rapid7, Inc., First eye Inc., WhiteHat Security, Hewlett Packard Enterprise, Context Information Security, Checkmarx, and others. To expand the market, the majority of vendors are adopting new technologies and product launches to gain competitive advantage in the global market.

The penetration testing market is largely driven by new product launches and acquisition. Moreover, there are only a few tools such as Nessus, Nmap, Aircracking, among others, which are being used for penetration testing purposes. In 2016, Github Inc. has launched Datasploit by using Phishing technology that has been beneficial for security researchers and cyber-investigators.

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