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Global Penetration Testing Market to reach USD 3.91 billion by the end of 2030.

Global Penetration Testing Market Size study & Forecast, by Offering (Software and Services), by Type (Web Applications, Mobile Applications, Network Infrastructure, Social Engineering, Cloud), by Organization Size (SMEs, Large Enterprises), by Deployment Mode (Cloud, On-premises), by Vertical (BFSI, Healthcare, IT and ITeS, Telecommunication, Retail and E-Commerce, Manufacturing, Education, Other Verticals) and Regional Analysis, 2023-2030

Product Code: ICTNS-17816362
Publish Date: 20-02-2024
Page: 200

Global Penetration Testing Market is valued at approximately USD 1.4 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 13.7% during the forecast period 2023-2030. Penetration testing is a cybersecurity defense strategy that involves setting up traps and decoys within a system’s infrastructure to mimic real assets in order to deceive attackers. It also helps organizations identify vulnerabilities, such as unsensitized inputs that are at risk of code injection attacks, in various application systems and servers. The Penetration Testing Market is expanding because of factors such as rising sophisticated cyberattacks leading to huge financial and privacy losses, stringent compliances by various IT authorities to adhere to testing procedures, increased internet penetration and use of smart devices leading to a surge in mobile-based internet applications.

Cyberattacks have become increasingly sophisticated in recent years. While social engineering accounts for 98% of cyberattacks, hackers are increasingly using advanced technologies such as AI, ML, and analytics to enhance their attacks. Such Sophisticated cyberattacks typically go unnoticed and need longer repair times. According to IT Web, in 2021, nearly 80% of senior IT employees and security leaders believe their companies are not adequately protected against cyberattacks. Additionally, more than 77% of organizations lack an incident response plan, and over 93% of healthcare organizations have experienced a security breach in the last three years (2020-2018). Furthermore, according to AAG IT in 2021, around 1 in 10 US Organizations have no insurance against cyber-attacks. These statistics highlight enterprises’ lack of cyber preparation, creating opportunities for cyberattacks to succeed. Additionally, the increasing demand for software-based property protection, such as mobile and web apps, is expected to drive opportunities in the global Penetration Testing Market. Moreover, the growing usage of cloud-based security solutions is projected to drive up demand for penetration testing. This, in turn, is expected to boost the global Penetration Testing Market. Furthermore, increased digitization in developing countries is likely to fuel the growth of the Internet of Things (IoT)-based connected devices. However, the Lack of skilled cybersecurity professionals is expected to stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Penetration Testing Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to factors such as large technological establishments in the region, stringent government regulations regarding cyber security and testing services. According to the International Telecommunication Union (ITU), North America is the most proactive and devoted area to cybersecurity-related projects. The GCI scores assigned to the major countries (United States – 0.91 and Canada – 0.81) confirm their commitment to developing a strong cybersecurity framework and improved security testing procedures. Furthermore, due to the growing practice of Work From Home (WFH), employees are accessing business networks and data via insecure devices, exposing exploitable vulnerabilities to hackers. Asia Pacific is expected to grow significantly over the forecast period, owing to factors such as increased penetration testing awareness and the number of SMEs embracing cloud-based security testing in the region.

Major market player included in this report are:
International Business Machines Corporation
Rapid7, Inc.
Trustwave Holdings Inc.
Synopsys Inc.
Cisco Systems, Inc.
Indium Software Pte. Ltd.
Cigniti Technologies
Coalfire Systems, Inc.
FireEye Inc.

Recent Developments in the Market:
Ø In October 2022, Veracode, a global provider of application security testing solutions announced its continuous software security platform would be enhanced to include container security. Existing clients can now join Veracode Container Security’s early access program.
Ø In April 2022, Rapid7, a prominent provider of security analytics and automation, announced the creation of the Rapid7 Cybersecurity Foundation, a 501(c)(3) private foundation that would receive all its inaugural USD 1 million financing from Rapid7. The Rapid7 Cybersecurity Foundation’s objective is to narrow the security accomplishment gap by making cybersecurity more accessible to underrepresented and underserved communities.
Ø In August 2023, Appdome, a mobile app security company, announced a new concept combining cyber discovery and delivery. Appdome collaborated with over 50 mobile app penetration testers around the world on this initiative to improve the security of the mobile app industry and protect mobile applications.

Global Penetration Testing Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Offering, Type, Organization Size, Deployment Mode, Vertical, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Offering:

By Type:
Web Applications
Mobile Applications
Network Infrastructure
Social Engineering

By Organization Size:
Large Enterprises

By Deployment Mode:

By Vertical:
IT and ITeS
Retail and E-Commerce
Other Verticals

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Penetration Testing Market, by Region, 2020-2030 (USD Billion)
1.2.2. Penetration Testing Market, by Offering, 2020-2030 (USD Billion)
1.2.3. Penetration Testing Market, by Type, 2020-2030 (USD Billion)
1.2.4. Penetration Testing Market, by Organization Size, 2020-2030 (USD Billion)
1.2.5. Penetration Testing Market, by Deployment Mode, 2020-2030 (USD Billion)
1.2.6. Penetration Testing Market, by Vertical, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Penetration Testing Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Penetration Testing Market Dynamics
3.1. Penetration Testing Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing internet penetration Rising sophisticated cyberattacks Stringent compliances by various IT authorities
3.1.2. Market Challenges Lack of skilled security professionals
3.1.3. Market Opportunities Increasing digitalization in emerging countries Rising adoption of cloud-based security solutions
Chapter 4. Global Penetration Testing Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Penetration Testing Market, by Offering
5.1. Market Snapshot
5.2. Global Penetration Testing Market by Offering, Performance – Potential Analysis
5.3. Global Penetration Testing Market Estimates & Forecasts by Offering 2020-2030 (USD Billion)
5.4. Penetration Testing Market, Sub Segment Analysis
5.4.1. Software
5.4.2. Services
Chapter 6. Global Penetration Testing Market, by Type
6.1. Market Snapshot
6.2. Global Penetration Testing Market by Type, Performance – Potential Analysis
6.3. Global Penetration Testing Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
6.4. Penetration Testing Market, Sub Segment Analysis
6.4.1. Web Applications
6.4.2. Mobile Applications
6.4.3. Network Infrastructure
6.4.4. Social Engineering
6.4.5. Cloud
Chapter 7. Global Penetration Testing Market, by Organization Size
7.1. Market Snapshot
7.2. Global Penetration Testing Market by Organization Size, Performance – Potential Analysis
7.3. Global Penetration Testing Market Estimates & Forecasts by Organization Size 2020-2030 (USD Billion)
7.4. Penetration Testing Market, Sub Segment Analysis
7.4.1. SMEs
7.4.2. Large Enterprises
Chapter 8. Global Penetration Testing Market, by Deployment Mode
8.1. Market Snapshot
8.2. Global Penetration Testing Market by Deployment Mode, Performance – Potential Analysis
8.3. Global Penetration Testing Market Estimates & Forecasts by Deployment Mode 2020-2030 (USD Billion)
8.4. Penetration Testing Market, Sub Segment Analysis
8.4.1. Cloud
8.4.2. On-premises
Chapter 9. Global Penetration Testing Market, by Vertical
9.1. Market Snapshot
9.2. Global Penetration Testing Market by Vertical, Performance – Potential Analysis
9.3. Global Penetration Testing Market Estimates & Forecasts by Vertical 2020-2030 (USD Billion)
9.4. Penetration Testing Market, Sub Segment Analysis
9.4.1. BFSI
9.4.2. Healthcare
9.4.3. IT and ITeS
9.4.4. Telecommunication
9.4.5. Retail and E-Commerce
9.4.6. Manufacturing
9.4.7. Education
9.4.8. Other Verticals
Chapter 10. Global Penetration Testing Market, Regional Analysis
10.1. Top Leading Countries
10.2. Top Emerging Countries
10.3. Penetration Testing Market, Regional Market Snapshot
10.4. North America Penetration Testing Market
10.4.1. U.S. Penetration Testing Market Offering breakdown estimates & forecasts, 2020-2030 Type breakdown estimates & forecasts, 2020-2030 Organization Size breakdown estimates & forecasts, 2020-2030 Deployment Mode breakdown estimates & forecasts, 2020-2030 Vertical breakdown estimates & forecasts, 2020-2030
10.4.2. Canada Penetration Testing Market
10.5. Europe Penetration Testing Market Snapshot
10.5.1. U.K. Penetration Testing Market
10.5.2. Germany Penetration Testing Market
10.5.3. France Penetration Testing Market
10.5.4. Spain Penetration Testing Market
10.5.5. Italy Penetration Testing Market
10.5.6. Rest of Europe Penetration Testing Market
10.6. Asia-Pacific Penetration Testing Market Snapshot
10.6.1. China Penetration Testing Market
10.6.2. India Penetration Testing Market
10.6.3. Japan Penetration Testing Market
10.6.4. Australia Penetration Testing Market
10.6.5. South Korea Penetration Testing Market
10.6.6. Rest of Asia Pacific Penetration Testing Market
10.7. Latin America Penetration Testing Market Snapshot
10.7.1. Brazil Penetration Testing Market
10.7.2. Mexico Penetration Testing Market
10.8. Middle East & Africa Penetration Testing Market
10.8.1. Saudi Arabia Penetration Testing Market
10.8.2. South Africa Penetration Testing Market
10.8.3. Rest of Middle East & Africa Penetration Testing Market

Chapter 11. Competitive Intelligence
11.1. Key Company SWOT Analysis
11.1.1. Company 1
11.1.2. Company 2
11.1.3. Company 3
11.2. Top Market Strategies
11.3. Company Profiles
11.3.1. International Business Machines Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.3.2. Rapid7, Inc.
11.3.3. Trustwave Holdings Inc.
11.3.4. Veracode
11.3.5. Synopsys Inc.
11.3.6. Cisco Systems, Inc.
11.3.7. Indium Software Pte. Ltd.
11.3.8. Cigniti Technologies
11.3.9. Coalfire Systems, Inc.
11.3.10. FireEye Inc.
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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