DUBLIN, October 06, 2021–(BUSINESS WIRE)–The “Global Penetration Testing Market By Offering, By Application, By Deployment Type, By Enterprise Size, By End User, By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 – 2027” report has been added to ResearchAndMarkets.com’s offering.
The Global Penetration Testing Market size is expected to reach $3.1 billion by 2027, rising at a market growth of 12% CAGR during the forecast period.
Penetration testing, also commonly known as ethical hacking or pen testing, is performed to test a network, computer system, and web application to identify security weaknesses including the possibility to access the system’s data & features by unauthorized parties and strengths that allows a full risk assessment to be completed. Penetration testing is the method of testing, which is used to increase and measure the installed security solutions on various devices like computers, mobile phones, and other information systems.
The factors such as the rising number of cyberattacks leading to the major losses in reputation & financial of companies, growing severe regulations, and compliances mandating regular penetration testing practices are anticipated to surge the growth of the penetration testing market. In addition, massive usage of smartphones has also increased the use of mobile-based business-critical applications and growing internet penetration are some determinants that is expected to offer lucrative opportunities to the penetration testing solutions. Additionally, integration of technologies like machine learning & artificial intelligence, remote working security assessments, and growing trends of penetration testing-as-a-service (PTaaS) is anticipated to create new avenues for growth for the vendors offering penetration testing solutions.
Key Market Players
Micro Focus International Plc
Rhino Security Labs, Inc.
Indium Software, Inc.
Offensive security Services, LLC
Market Growth Factors:
Imposition of strict norms and compliances by the government regarding frequent penetration testing
The government has implemented certain regulations like OWASP, NIS, SOX, SOC2, PCI, DSS, and GDPR according to which, it is necessary to conduct penetration testing at regular intervals and companies will be charged, if they unable to follow the rules strictly. As stated by REdScan, companies are anticipated to adopt the process of penetration testing at regular intervals and for evaluation of the efficiency of technical and company’s measures to secure the data processing.
The trend of penetration testing-as-a-service (PTaaS) has witnessed a boost
Cloud-based penetration testing is also known as penetration testing-as-a-service (PTaaS) and the cybersecurity industry is observing a surge in the trends of PTaaS. PTaaS helps in offering the resources that are required by IT professionals to organize and act upon the penetration tests. This test includes continuous monitoring and generates reports that allow users to view results in real-time.
Market Restraining Factor:
Low availability of skilled security experts who can perform penetration tests
The major problem of the companies is to deal with the smaller number of skilled security experts and hence, is responsible for slowdown the capability of companies that face growing cybersecurity needs. Several companies hire people to identify and analyze cyber threats but these people are also highly qualified, and thus, are unable to succeed in preventing the data from cyber attackers. In addition, the installation of penetration testing solutions requires a large investment, which is another factor hampering the growth of the penetration testing market.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
18.104.22.168 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis – Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2019, Mar – 2021, Mar) Leading Players
Chapter 4. Global Penetration Testing Market by Offering
Chapter 5. Global Penetration Testing Market by Application
Chapter 6. Global Penetration Testing Market by Deployment Type
Chapter 7. Global Penetration Testing Market by Enterprise Size
Chapter 8. Global Penetration Testing Market by End User
Chapter 9. Global Penetration Testing Market by Region
Chapter 10. Company Profiles
View source version on businesswire.com: https://www.businesswire.com/news/home/20211006005859/en/
Laura Wood, Senior Press Manager
For E.S.T. Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900