According to a new market research report published by Credence Research “Global Penetration Testing Market (Type (Network, Web, Mobile, Social Engineering, Wireless), Deployment Model (On-premise, Cloud), Organization Size (SME, Large Enterprise) Industry Verticals (Government And Defense, BFSI, IT And Telecom, Healthcare, Retail) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the penetration testing market is set to grow with a CAGR of 26.5% during the forecast period from 2019 to 2027, starting from $850.2 Mn in 2018.
The global penetration testing market is driven by increasing amount of data generated in various industrial sectors and growing threat of cyber-attacks. In order to secure the data generated it is essential to understand the vulnerabilities in the security network and protect the enterprise applications. Penetration testing plays a vital role in tracking such vulnerabilities and help the organizations from huge losses. Also, emergence of Internet of Things has also propelled use of smart devices for personal and commercial use which has created a need to implement security measures and protect the devices from cyber-attacks.
Globally, there is rapid growth in adoption of mobile technology. Increasing number of mobile users leads to increasing usage of web based applications which also needs penetration testing to stay secure and harmless. Moreover, in order to meet the security compliance requirements it is essential to conduct a penetration test. These factors drive the growth of penetration testing market across the globe. However, lack of skilled personnel and lack of awareness in various developing and underdeveloped countries is likely to restrain the growth of penetration testing market during the forecast period.
Based on type, the wireless penetration testing segment is likely to witness a double digit growth during the forecast period. This high growth is attributed to rapid development of wireless infrastructure and increasing adoption of connected devices for personal as well as commercial use. Penetration testing is used to protect the wireless set-ups and the devices connected over it. The penetration testing is largely adopted in the government and defense sector to ensure the safety and security of the wireless infrastructure.
Based on geography, North America held a leading market share of over 35% in 2018 due to technological advancements and increasing adoption of mobile devices and web applications. However, Asia-Pacific is likely to witness a fastest growth of during the forecast period. As large number of companies are expanding their presence in the emerging nations of Asia-Pacific, the penetration testing market here is expected to witness a rapid growth. Developing information technology industry, and rapid penetration of web-based applications is driving the growth of this regional segment.
Key players in the Penetration Testing market are Acunetix, Rapid7, Inc., Cigital, Inc., Cisco Systems, Inc., Veracode, Synopsys, Inc., Trustwave Holdings, Inc., WhiteHat Security, Checkmarx, Qualys, Inc., Hewlett Packard Enterprise (HPE), IBM, and Portswigger Ltd.
Browse the full report at https://www.credenceresearch.com/report/penetration-testing-market
The Global Penetration Testing Market is Segmented into:
|Segmentation||By Type Segment (2017–2027; US$ Mn)|
|By Deployment Model Segment (2017–2027; US$ Mn)|
|By Organization Size Segment (2017–2027; US$ Mn)|
|By Industry Verticals Segment (2017–2027; US$ Mn)|
|By Geography Segment (2017–2027; US$ Mn)|
*Complete segmentation list is on report page
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