Penetration Testing Market Size Is Projected to Reach $5.28B Globally by 2028

LONDON, Nov. 23, 2022 /PRNewswire/ — The Global Penetration Testing Market is poised to reach a valuation of USD 5.28 Billion in 2028 from USD 1.87 Billion in 2021, registering a CAGR of 15.97% over the forecast duration.

Penetration test is referred to as a type of ethical hacking that is
deliberately performed on a computer system to assess its security while
identifying exploitable vulnerabilities. The testers adopt similar
equipment, tool, and tactics used by cyberattacks. This is mainly done
to deceive the criminals by distributing decoys and traps in the system
that resemble the genuine assets. Organizations that are highly prone to
cybercrime adopt this testing method to ensure the overall safety of
their computer infrastructure.

The growth occurrences of cyberattacks, rising adoption of cloud
computing solutions, along with technology advancements in the field are
primarily augmenting the outlook of this business vertical. Further,
the booming IT industry, stringent data safety regulations, and rapidly
evolving technological infrastructure across various regions are
creating lucrative opportunities for this marketplace to prosper.

Also, rising R&D activities in the field, surging digitalization
trends across various industry verticals, coupled with increasing number
of data centres worldwide, are adding traction to the development of
Global Penetration Testing Market. Moreover, escalating demand for
high-speed internet connection, rising popularity of remote working, and
increasing incidences of cyberattack sophistication are stimulating the
overall dynamics for this industry vertical. On the flip side, high
costs pertaining to penetration tests and dearth of skilled
professionals in the field are hindering the remuneration scope of this
business sphere.

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Competitive Hierarchy

The prominent players characterizing the competitive Terrain of Global Penetration Testing Market are:

• Checkmarx
• Coalfire Systems
• Core Security Technologies
• FireEye
• HackerOne Inc.
• ImmuniWeb SA
• Indium Software
• International Business Machines Corporation
• Netragard LLC
• Netsparker Ltd
• OffSec Services Limited
• Micro Focus International plc
• Acunetix
• Others.

These companies are trying to enhance their position in the global
market. They are adopting various strategies, including mergers &
acquisitions, product launches, R&D investments, partnerships, and
collaborations, among others to stay ahead of the curve.

Global Penetration Testing Market Segmentation:

By Type:

• Wireless Network Penetration Testing Services
• Network Penetration Testing
• Web Application Penetration Testing
• Social Engineering Penetration Testing
• Mobile Application Penetration Testing
• Others

By Deployment:

• Cloud
• On-premises

By End-User:

• Healthcare
• Government & Defense
• Retail
• BFSI
• IT & Telecom
• Others

Category-Wise Outlook

Which is the leading deployment mode segment in this business sphere?

The on-premises segment presently dominates the market in terms of
volume share since it provides high control and flexibility to end-use
enterprises which reducing the risks of data losses.

Which end-user segment is poised to amass notable gains over the estimated timeline?

The healthcare segment is anticipated to generate significant returns
over the estimated timeline. This is credited to the rising adoption of
EHR and telehealth solutions, which in turn increases the susceptibility
of healthcare organizations to various forms of cybercrimes.

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Comparing the historical outlook and ongoing trends of this market

This industry has been generating significant returns due to the presence of various expansion propellants across the globe.

There has been rising occurrence of cyberattacks across various
industry verticals worldwide. In fact, the crime dwellers have begun
adopting advanced technologies such as AI, analytics, and ML to
sophisticate cyber-attacks. Such attacks tend to go unnoticed or
undetected since most of the organizations lack preparedness and
high-end tools. Many enterprises incur massive financial losses due to
such attacks which in turn also affects their reputation in the market.
This has increased the demand for effective tools and tactics to
minimize the risk of sophisticated cybercrimes across numerous
organizations.

The rising digitalization trend across a wide range of industries has
resulted in the rising data privacy concerns. Due to widespread
internet proliferation and growing adoption of smart devices, sectors
such as healthcare, education, and retail, among others are trying to
streamline their operations with an aim to reduce their overall expenses
while leaving no room for human errors. But this has provided hackers
with profitable opportunities since they can easily crack into the
system of these organizations and procure confidential data. After
getting their hands on these valuable assets, cybercriminals sell them
on the dark web and earn massive profits. Therefore, many of these
organizations have strengthened their cybersecurity entities which in
turn is increasing the deployment of penetration testing solutions.

The onset of the COVID-19 pandemic is adding momentum to the
progression of Global Penetration Testing market. Stringent lockdowns
completely restricted the mobility of the masses and led to the
temporary closure of commercial complexes. This pushed organizations to
shift to a virtual mode of operations, thereby popularizing remote
working trends. Unfortunately, this resulted in the surging occurrence
of cyberattacks which in turn necessitated the deployment of effective
tactics and tools to ensure user data safety and privacy during online
communications, data transfer, and other activities.

Region-Wise Insights

Which is the fastest growing region in this industry vertical?

North America has emerged as one of
the most rapidly growing regions in this marketplace owing to rapid
internet proliferation, growing adoption of smart devices, and rising
disposable income of the masses.

How is Asia-Pacific faring in the marketplace?

Asia Pacific is reckoned to capture a
substantial revenue share over the forecast timeframe due to the rising
occurrence of cyberattacks, the booming IT sector, and technological
innovations in the field.

Major Developments

In June 2022, Synopsys announced the acquisition of Whitehat Security to strengthen its overall portfolio in this vertical.

On Special Requirement, Penetration Testing Market Report is also available for regions listed below:

North America

• U.S, Canada

Europe

• Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

• South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

• Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

• Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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