Penetration Testing Market: Industry Scope, Expansion Opportunities, and Forecast Through 2024-2031 | IBM, Hackerone, Immuniweb, Raxis.

Penetration Testing Market Research Report By DataM Intelligence: A comprehensive analysis of current and emerging trends provides clarity on the dynamics of the Penetration Testing market. The report employs Porter's Five Forces model to assess key factors such as the influence of suppliers and customers, risks posed by different entities, competitive intensity, and the potential of emerging entrepreneurs, offering valuable insights. Additionally, the report presents research data from various companies, including their benefits, gross margins, and strategic decisions in the global market, all conveyed through tables, charts, and infographics.

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What is the projected growth rate (CAGR) of the Global Penetration Testing market from 2024 to 2031?

The Global Penetration Testing Market is expected to reach at a Significant CAGR during the forecast period 2024-2031.

What is Penetration Testing Market?

The Penetration Testing market focuses on services that simulate cyberattacks to identify vulnerabilities in an organization's IT infrastructure, applications, and networks. This market is driven by the increasing frequency and sophistication of cyber threats, growing regulatory requirements for data protection, and heightened awareness of cybersecurity among businesses. Key sectors include finance, healthcare, retail, and government, where safeguarding sensitive information is critical. Additionally, advancements in automated testing tools and the integration of penetration testing into DevOps practices are enhancing the effectiveness and efficiency of these services, fostering greater adoption across various industries to ensure robust cybersecurity measures.

Growth Driver

Stringent Regulations Driving Penetration Testing Requirements

Regulations such as GDPR, PCI DSS, OWASP, and NIS mandate the regular implementation of penetration testing, with noncompliance leading to substantial fines for enterprises. For instance, GDPR Article 32 emphasizes the necessity for organizations to establish a methodology for ongoing testing and reviewing the effectiveness of both technological and organizational measures aimed at ensuring data processing security.

ISO 27001 Objective A.12.6.1 further requires organizations to gather information on technical security vulnerabilities, evaluate their exposure, and promptly take appropriate actions to mitigate associated risks. Additionally, Requirement 11 of PCI DSS 3.2 stipulates that penetration testing must be conducted annually or following any significant changes to the infrastructure. These stringent regulations underscore the importance of robust cybersecurity practices, driving the demand for regular penetration testing in organizations across various sectors.

Key Players:

Profiles of some of the major players in the global Penetration Testing market, which include IBM, Hackerone, Immuniweb, Raxis, Rhino Security Labs, Rapid7, Fireeye, Micro Focus, Acunetix, and Netsparkar.

Industry Development:

On April 21, 2021, Rapid7, Inc., a provider of security analytics and automation solutions, announced its acquisition of Velociraptor. Velociraptor is a prominent open-source technology and community resource utilized for endpoint monitoring, digital forensics, and incident response. This acquisition aims to enhance Rapid7's capabilities in cybersecurity and incident management.

The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Penetration Testing market.

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Market Segments:

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.

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.

Regional Break out:

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

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