Press release
Penetration Testing Market Poised for Robust Growth Amid Rising Cyber Threats
Penetration Testing Market
A 2023 report by IBM revealed that the average cost of a data breach reached USD 4.45 million, underscoring the critical importance of penetration testing in preventing breaches and ensuring data security. The surge in demand for these services highlights the urgency for companies to enhance their cybersecurity posture to combat evolving cyber threats.
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Stringent data protection regulations such as the General Data Protection Regulation (GDPR), HIPAA, and PCI DSS are further driving the adoption of penetration testing. GDPR, for example, requires organizations handling personal data to perform regular risk assessments and implement robust security measures. This has made penetration testing an essential tool for identifying vulnerabilities and maintaining compliance. By 2023, over 70% of companies reported increased investment in penetration testing to meet regulatory standards. The heavy fines for non-compliance, such as GDPR penalties of up to 4% of annual global turnover, are prompting organizations to adopt proactive security measures.
Key Market Drivers: Digital Transformation and IoT Expansion
As businesses continue their digital transformation and embrace cloud-based solutions, the need for robust cybersecurity measures has grown significantly. By 2024, nearly 49% of businesses were using cloud platforms like Amazon Web Services (AWS) for key workloads, driving the demand for penetration testing as a critical component of comprehensive cybersecurity strategies.
The rapid proliferation of Internet of Things (IoT) devices is also expanding the attack surfaces organizations must defend against. In 2023, the global number of IoT devices surpassed 30 billion, creating numerous entry points for cyber threats. Many IoT devices lack adequate security features, making them vulnerable to exploitation. Consequently, businesses are increasingly conducting penetration testing to secure their IoT ecosystems and protect connected networks from potential attacks.
Challenges: High Costs Hindering Adoption Among SMBs
Despite the growing demand, the high costs associated with penetration testing remain a significant challenge, particularly for small and medium-sized businesses (SMBs). The expertise required for these assessments and the advanced tools needed for thorough testing come at a premium, making it difficult for organizations with limited budgets to afford these services.
Penetration testing is also not a one-time activity; regular testing is essential to address evolving threats and system updates. These ongoing expenses can strain the budgets of smaller organizations, deterring them from investing in cybersecurity measures. This financial barrier highlights the need for more affordable and scalable solutions to make penetration testing accessible to businesses of all sizes.
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Segment Insights: Web Applications and Cloud Leading Demand
The penetration testing market is segmented by application, including web applications, mobile applications, network infrastructure, cloud, and social engineering. Web applications led the market in 2024, driven by their widespread use and inherent complexity, which makes them frequent targets for cyberattacks.
Meanwhile, the rapid adoption of cloud computing has significantly boosted the demand for cloud penetration testing. Cloud environments face unique security challenges such as misconfigurations and data breaches. As businesses increasingly rely on cloud-based services, penetration testing has become critical to ensuring the security of cloud infrastructures and applications.
Penetration Testing Top Companies and Competitive Landscape
The penetration testing industry plays a critical role in enhancing cybersecurity by simulating real-world attacks to identify vulnerabilities in digital systems and networks. With the rise in cyber threats and stringent regulatory requirements, organizations across industries such as finance, healthcare, and IT are increasingly adopting penetration testing to safeguard sensitive data and ensure compliance.
The market is driven by the growing reliance on digital transformation and cloud adoption, which necessitate robust security measures. Leading players in the industry include Rapid7, Inc., Secureworks, Inc., Synopsys, Inc., CrowdStrike, Inc., and International Business Machines Corporation, all of which offer advanced testing solutions to help organizations fortify their security infrastructure.
In September 2024, Oracle launched new Oracle Cloud Infrastructure (OCI) Penetration Testing to fulfil the rapidly growing adoption of AI and cloud services. This latest advancement span oracle database at AWS, Azure, Google Cloud, OCI dedicated region, and OCI supercluster.
Some of the key companies in the global Penetration Testing market include:
Rapid7, Inc.
Secureworks, Inc.
Synopsys, Inc.
CrowdStrike, Inc.
International Business Machines Corporation
Coalfire Labs, Inc.
Indium Software, Inc.
Cigniti Technologies, Inc.
Trustwave Holdings, Inc.
Cisco Systems, Inc.
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Penetration Testing Latest Industry Updates
In August 2024, Rapid7, Inc. introduced the Command Platform, a comprehensive threat exposure, detection, and response solution. Powered by AI, the Command Platform enables customers to consolidate critical security data, offering a unified view of vulnerabilities, exposures, and threats across endpoints and the cloud, helping to close security gaps and prevent attacks.
In April 2024, Synopsys, Inc. launched the Black Duck Supply Chain Edition, a new software composition analysis (SCA) solution designed to help organizations mitigate upstream risks in software supply chains. It includes open-source detection, malware scanning, and third-party software bill of materials (SBOM) analysis to identify vulnerabilities, malicious code, and license conflicts
Penetration Testing Market Segmentation Analysis
Offering Outlook (Revenue, USD Million; 2020-2033)
Solutions
Services
Deployment Mode Outlook (Revenue, USD Million; 2020-2033)
Cloud
On-premises
Organization Size Outlook (Revenue, USD Million; 2020-2033)
SMEs
Large Enterprises
Type Outlook (Revenue, USD Million; 2020-2033)
Web applications
Mobile Applications
Network Infrastructure
Cloud
Social Engineering
Industry Vertical Outlook (Revenue, USD Million; 2020-2033)
BFSI
Healthcare
IT & ITeS
Telecommunication
Retail and eCommerce
Manufacturing
Education
Other verticals
Regional Outlook (Revenue, USD Million; 2020-2033)
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Benelux
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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Read More Related Report
Penetration Testing Market Size @ https://www.emergenresearch.com/industry-report/penetration-testing-market/market-size
Penetration Testing Market Share @ https://www.emergenresearch.com/industry-report/penetration-testing-market/market-share
Penetration Testing Market Trends @ https://www.emergenresearch.com/industry-report/penetration-testing-market/market-trends
Penetration Testing Regional Market Demand @ https://www.emergenresearch.com/industry-report/penetration-testing-market/regional-market-demand
Penetration Testing Market Analysis @ https://www.emergenresearch.com/industry-report/penetration-testing-market/market-analysis
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