Penetration Testing Market Share, Size, Growth & Industry Report, 2020-2027

Growth opportunities in the penetration testing market look promising over the next six years. This is mainly due to the growing adoption of cloud computing solutions and services, rising usage of cloud-based solutions and services, increase in implementation of security measures, and rise in mobile-based business-critical applications.

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Penetration Testing Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The factors supporting the growth of the global penetration market include the remarkable increase in mobile-based business applications, surge in the execution of security measures, and the augmenting adoption of cloud-computing business and services. Businesses throughout the world are switching to cloud computing solutions owing to the cost-effectiveness offered by them. The rising use of cloud-based solutions, including the e-mail services, CRM, data backups, and collaboration services for penetration of workload, boosts the demand for penetration testing.

Cloud deployment uplifts the vulnerabilities in software, making it easily available for unauthorized users. Furthermore, the hacking groups target leading corporations which contribute to the expanding awareness of cyber threats, as data breach results revenue loss. Owing to this, many organizations are arranging cybersecurity solutions such as intrusion detection, firewalls, and penetration testing to help secure workload on the cloud without the risk of cyber threats. However, the high cost associated with penetration testing and lack of skilled security analysts will restrain the market's growth.

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Deployment mode Segment Drivers

Based on deployment mode, the market is segmented into on-premises and cloud. The Cloud segment is expected to grow at a higher CAGR over the forecast period as it helps the organization to reduce costs concerned with the hiring of technical staff and infrastructural maintenance. Also, SMEs are more prompt to adopt cloud-based deployment mode as it aids them in reducing the overall cost of security infrastructure.

Regional Drivers

On the basis of region, North America is anticipated to grow at a faster CAGR over the forecast period attributed to the rising focus of leading players towards technical advancements and development. Moreover, the accelerating adoption of smartphones and digital transformation in industries is fuelling the growth of the penetration testing market in the region. On the other hand, Asia-Pacific is predicted to expand at a high CAGR during the forecast period owing to the augmenting number of cyber frauds faced by citizens and businesses. Developing countries such as India and Japan have begun with penetration testing across BFSI, defense, healthcare, and government verticals.

Penetration Testing Market’s leading Manufacturers:
• PortSwigger Web Security
• Qualys Inc.
• Netsparker
• Cigital Inc
• Micro Focus International Plc
• FireEye
• Context Information Security
• Core Security Technologies
• Secureworks Inc
• IBM Corporation

Penetration Testing Market Segmentation:

Segmentation by Component:
• Solutions
• Services

Segmentation by Application Area:

• Web application
• Mobile application
• Network infrastructure
• Social Engineering
• Cloud
• Others (Embedded and IoT)

Segmentation by Deployment Mode:
• Cloud
• On-premises

Segmentation by Organisation Size:
• Large enterprises
• Small and Medium-sized Enterprises (SMEs)

Segmentation by Industry:
• Banking, Financial Services and Insurance (BFSI)
• Healthcare
• Information Technology (IT)
• Telecom
• Retail and eCommerce
• Education
• Others (transportation, energy, and social media)

Segmentation by Region:

• North America
o United States of America
o Canada

• Asia Pacific
o China
o Japan
o India
o Rest of APAC

• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

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This release was published on openPR.