According to a research report "Penetration Testing Market by Offering (Solution, Services), Type (Web Applications, Mobile Applications, Network Infrastructure, Social Engineering, Cloud), Organization Size, Deployment Mode, Vertical and Region - Global Forecast to 2029" published by MarketsandMarkets, the global penetration testing market is proliferating, valued at USD 1.7 billion in 2024 and expected to reach USD 3.9 billion by 2029, with a significant % growth rate of 17.1%.
The remarkable growth is attributed to several factors, such as cyber threats, which are constantly evolving, becoming more complex, and posing ongoing challenges. Organizations are placing a greater emphasis on cybersecurity, actively fortifying their defenses against various tactics employed by cybercriminals. The rise of remote work and interconnected systems underscores the need for robust penetration testing measures. Stricter regulations like GDPR mandate the adoption of advanced cybersecurity solutions. In this dynamic cybersecurity landscape, penetration testing plays a pivotal role. It simulates real-world cyberattacks, helping organizations identify and address system vulnerabilities before malicious actors exploit them. By proactively identifying weaknesses, penetration testing enhances cyber resilience, strengthening organizations' overall security posture. The growing demand for robust cybersecurity measures, combined with the evolving threat landscape, is propelling the significant growth of the penetration testing market.
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Browse 374 market data Tables and 48 Figures spread through 329 Pages and in-depth TOC on "Penetration Testing Market - Global Forecast to 2029"
"By deployment mode, the cloud segment is expected to demonstrate the highest growth rate in the penetration testing market during the forecast period."
Growth in the cloud-based penetration testing market is driven by businesses' swift adoption of cloud services for flexibility, cost-efficiency, and remote work capabilities. This shift expands the potential targets for cyber threats, necessitating robust security measures. Cloud environments pose unique security challenges compared to traditional setups, demanding specialized testing methods. Cybercriminals increasingly target cloud platforms, intensifying the need for advanced testing approaches. Cloud-based penetration testing offers scalability, cost savings, automation, and remote access advantages, boosting appeal. Cloud solutions simplify compliance with regulations and address the shortage of skilled testers. The overall growth reflects the escalating reliance on cloud technologies and the crucial need for security.
Based on organization size, the SMEs segment is projected to exhibit the highest growth rate at the highest CAGR during the forecast period.
The Small and Medium Enterprises (SMEs) are becoming more aware of cyber threats and their potential impact, prompting them to invest in cybersecurity measures. Penetration testing service providers offer cost-effective solutions tailored to SMEs' needs, making cybersecurity more accessible. Regulatory mandates and limited in-house expertise further drive SMEs towards penetration testing services. Factors like rapid digitalization, evolving cyber threats, and the availability of managed security service providers are also contributing to the high growth rate in this segment, addressing SMEs' increasing vulnerability and the need for robust cybersecurity solutions.
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Asia Pacific is anticipated to experience substantial growth in the penetration testing market during the forecast period.
The Asia Pacific region is poised to witness significant expansion in the penetration testing market during the forecast period, driven by escalating cybersecurity concerns, stringent regulatory requirements, and the rapid adoption of digital technologies across industries. With the proliferation of cyber threats and the increasing sophistication of attacks, organizations are prioritizing proactive measures to identify and address vulnerabilities in their IT infrastructure and applications. Penetration testing, a vital component of cybersecurity strategies, enables businesses to assess their security posture, uncover potential weaknesses, and implement effective remediation measures. As governments and regulatory bodies in the region impose stricter data protection regulations, the demand for penetration testing services is expected to surge, further fueling market growth. The continued digital transformation initiatives and the growing reliance on cloud services contribute to the heightened need for robust security testing solutions, positioning the Asia Pacific penetration testing market for substantial expansion in the coming years.
Market Players
The major players in the penetration testing market are Rapid7(US), Secureworks(US), Synopsys(US), Crowdstrike(US), IBM(US), Coalfire Labs(US), Indium Software(US), Cigniti Technologies(US), Trustwave(US), Cisco Systems(US), Fortinet(US), Bugcrowd(US), Invicti(US), Hackerone(US),Raxis(US), Rsi Security(US), Rhino Security Labs(US), Sciencesoft(US), Portswigger(US), Netraguard(US), Software Secured(Canada), Vumentric Cybersecurity(Canada), Netitude(UK), Zimperium(US), Nowsecure(US), Security Metrics(US), NetSpi(US), Covertswarm(UK), Holm Security(Sweden), Intruder Systems(UK), Breachlock(US), Isecurion(India), Redbot Security(US).
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