Penetration Testing Market by Size, Share, Forecasts, & Trends Analysis

Leading global market research firm, Meticulous Research®, has released an in-depth report titled 'Penetration Testing Market by Offering, Position, Type, Method, Visibility, and End User - Global Forecast to 2029.' This report provides a thorough analysis of the market, examining key factors influencing its growth and projecting trends up to the year 2029.

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According to Meticulous Research®, the global penetration testing market is anticipated to achieve a valuation of $4.05 billion by 2029, demonstrating a Compound Annual Growth Rate (CAGR) of 12.5% during the forecast period from 2022 to 2029. The market's expansion is propelled by the increasing necessity to identify cybersecurity threats and risks within enterprise networks, compliance with regulatory standards, and the rising demand for web application firewalls. Nonetheless, challenges such as high turnaround time and costs may impede the widespread adoption of penetration testing technologies.

Key Highlights:

Market Drivers: The report identifies the surge in demand for cloud computing solutions among SMEs, the growing need for Penetration Testing as a Service (PTaaS) and security assessment, and governmental initiatives towards digitalization in penetration testing as significant drivers fostering market growth.

Opportunities: The rising awareness of penetration testing benefits in medical imaging, coupled with the increasing number of data centers, offers promising opportunities for market expansion.

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Challenges: The scarcity of skilled professionals emerges as a major challenge to the growth of the penetration testing market.

The global penetration testing market is meticulously segmented based on offering, position, method/depth, test type, visibility, organization size, and end user. The study also thoroughly evaluates industry competitors, providing a detailed analysis at both regional and country levels.

Segmentation Highlights:

Offering: The solutions segment is expected to dominate the market in 2022, driven by enterprises rapidly adopting flexible, affordable, and scalable solutions. However, the services segment is projected to witness the highest CAGR during the forecast period.

Position/Location: The external network segment is anticipated to hold the largest market share in 2022, focusing on identifying security exposures and vulnerabilities before potential hacking. Nevertheless, the internal network segment is expected to register the highest CAGR.

Method/Depth: Gray box testing is forecasted to lead the market in 2022, driven by its efficiency and accuracy in testing. However, the white box testing segment is projected to exhibit the highest CAGR during the forecast period.

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Test Type: Infrastructure or network testing is expected to command the largest market share in 2022, owing to the increasing need to identify vulnerabilities in network infrastructure. Meanwhile, application testing is anticipated to register the highest CAGR.

Visibility: Covert penetration testing is forecasted to dominate the market in 2022, addressing vulnerabilities not only in the system but also undetected vulnerabilities. Automated penetration testing is projected to witness the highest CAGR.

Organization Size: Large enterprises are anticipated to account for the largest market share in 2022, driven by early adoption of advanced technologies. Small and medium-sized enterprises (SMEs) are projected to register the highest CAGR.

End User: The BFSI segment is expected to lead the market in 2022, given the large volume of highly sensitive financial data. However, the healthcare industry is projected to witness the highest CAGR.

Geographical Analysis: North America is poised to dominate the penetration testing market in 2022, driven by the increasing number of cyberattacks and significant investments in R&D. The Asia-Pacific region is anticipated to register the highest CAGR during the forecast period.

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Key Players:
Key players in the global penetration testing market include Rapid7, Synopsys, Cisco Systems, International Business Machines Corporation, Acunetix, ASTRA IT, ScienceSoft, SECURIFY BV, BreachLock, Fortinet, SecureWorks, Netragard, Cigniti Technologies, Rhino Security Labs, FireEye, Veracode, NetSPI LLC., Trustwave Holdings, Coalfire, and Software Secured.

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