Penetration Testing Market is segmented by Type (Network Penetration Testing, Web & Wireless Penetration Testing, Social Engineering Penetration Testing and Cloud Infrastructure Penetration Testing), by Application (Small and Medium Enterprises and Large Enterprises), and by Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa and Rest of World)
Market Definition / Research Scope
For the purpose of this market researchreport, Penetration Testing is defined as the use of authorised cyberattack on a computer system, network or web application to evaluate its security. Penetration Testing can be done with a software as well as manually. It is mainly used to identify vulnerabilities of a system but can also be used the compliance of an organization to the security standards, its ability to respond to an intrusion, and the awareness of its employees against security threats. The weaknesses in the security system found through penetration are brought under the notice of company’s IT department, so they can be improved.
Penetration Testing Market shall reach a value of $2x61.4 Million in 2031, growing with a CAGR of 12.13% during the forecast period of 2022 to 2031.
Penetration Testing Market Growth and Trends
Penetration testing is mandated by regulations such as GDPR, SOC2, SOX, OWASP, PCI DSS, and NIS, and organizations face harsh fines for the violation of these regulations. Organizations are supposed to ensure the security of data processing by regularly testing and evaluating technical and organizational measures. Technical security vulnerabilities must be identified, their impact evaluated, and appropriate measures taken to mitigate these risks in a timely manner. Furthermore, PCI DSS 3.2 specifically mandates penetration testing on a regular basis or after any significant changes are made to the infrastructure. 67% of security professionals surveyed in the 2021 Penetration Testing Report stated that compliance was the most important reason for performing penetration tests. Therefore, organizations in a wide range of industries must perform penetration testing due to stringent regulations mandating regular inspections.
Depending on the complexity of the organization, a penetration test can cost as little as USD 4,000 or as much as USD 100,000. Security Metrics also recommends that as a general rule, penetration tests priced at less than USD 4,000 are not legitimate - they are probably vulnerability scans. An effective penetration test costs up to USD 30,000, depending on such factors as the company size, scope and complexity, methodologies, the experience of the testers, and remediation costs. Most organizations cannot afford these costs, so they conduct tests less frequently than required. In SMEs with low cybersecurity budgets, penetration testing might be conducted annually or biennially, regardless of whether the mandates suggest biannual testing. Consequently, penetration testing may limit market growth due to its high costs.
Penetration Testing Market Regional Analysis
Fast pacing growth of automation prevailing across industries and the rising popularity of IoTs are a few of the major growth driving factors of the global Penetration testing market. North America accounts for the highest number of shares in the global market owing to the majority of cloud traffic and the rising number of data centers in the regions of the US and Canada. Europe on the other hand is expected to scale forward with increasing database security and application of security concern for businesses. Also, the Asia Pacific regions of fast-growing economies like India, South Korea China, and Japan are anticipated to drive the regional growth attributed to the large volume of data generation and rising demand for network analysis.
There are many regulations and compliances in North America, including FERC, HIPAA, PCI DSS, and SOX, across multiple verticals. It is no wonder why penetration testing is becoming more popular among North American companies when it comes to deploying security solutions, penetration testing, and vulnerability management. The need for regulatory compliance, growing security concerns, and evolving cyberattacks are also driving the demand for penetration testing solutions in the region. Due to their strong economies, the US and Canada make up the largest share of the North American penetration testing market.
Last year, 36% of these servers were hosted in the US, while 24% were hosted in unknown countries. Due to technological advancements and countries such as the United States and Canada growing economies, the region is in a unique position to invest significantly in upcoming technologies. In the region, both public and private organizations conduct penetration tests on mobile applications, web applications, and networks. Organizations in the region, including those with rapid growth, are increasingly focusing on penetration testing. Morgan Stanley, Carbanak, Experian, and Scottrade in this region lost data of approximately 50 million users. Cyberattacks against financial institutions do not succeed as often as breaches in the financial sector, which explains why penetration testing and cybersecurity were adopted early. Medical facilities have been targeted by cyberattacks, but other firms in the region are now automating penetration testing using AI and machine learning
Penetration Testing Market Share and Competition
Key companies operating in this industry are: Synopsys(Cigital), Acunetix, Checkmarx, Qualys, Inc., Rapid7, Inc., CA Technologies(Veracode), Hewlett Packard Enterprise, IBM, Whitehat Security, Trustwave Holdings, Inc., Contrast Security, Portswigger Ltd., Wireshark and Netsparker Limited. Data, analytics, and security solutions are provided by Rapid7. Over 5,600 organizations worldwide rely on it, including 37% of Fortune 1000 companies. By analyzing security data in real-time, security solutions reduce breach risk. Its innovative solutions include incident detection and response, threat exposure management, security consulting, and cybersecurity services, such as penetration testing, program assessment, and training. Its services include penetration testing for networks, web applications, mobile applications, and IoT and Internet-aware applications. The company offers adaptive security to mitigate new-generation threats in areas where conventional security techniques are insufficient. Moreover, it serves federal agencies, health care institutions, and educational institutions in addition to serving SMEs and large enterprises. The company operates outside of North America, Europe, and Asia as well.
Penetration Testing Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2032)
• Data breakdown for every market segment (2022 – 2032)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2022 - 2032)
• Network Penetration Testing
• Web & Wireless Penetration Testing
• Social Engineering Penetration Testing
• Cloud Infrastructure Penetration Testing
Application Analysis (Revenue, USD Million, 2022 - 2032)
• Small and Medium Enterprises
• Large Enterprises
Region Analysis (Revenue, USD Million, 2022 - 2032)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Penetration Testing Market Companies
• Qualys, Inc.
• Rapid7, Inc.
• CA Technologies(Veracode)
• Hewlett Packard Enterprise
• Whitehat Security
• Trustwave Holdings, Inc.
• Contrast Security
• Portswigger Ltd.
• Netsparker Limited
United States Penetration Testing Market Research Report
Europe Penetration Testing Market Research Report
Asia Pacific Penetration Testing Market Research Report
India Penetration Testing Market Research Report
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