Penetration Testing Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Penetration Testing Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Penetration Testing Market

The penetration testing market size was valued at USD 2.20 billion in 2023, and the market is now projected to grow from USD 2.45 billion in 2024 to USD 6.35 billion by 2032, exhibiting a CAGR of 12.6 % during the forecast period of 2024-2032.

The COVID-19 pandemic has been the cause of the drastic changes in penetration testing practices. This sudden move to work from home and the growing dependence on digital infrastructure led the organizations to the stage of enhanced cyber security risks. Thus, the need for penetration testing in the business world increased dramatically as the enterprises aimed to build their networks so that they could withstand newer threats. Remote penetration testing appeared to be the best tool to deal with the increase of the distributed environments vulnerabilities, thus, cyber security experts were able to evaluate the flaws in these situations in a secure way. Besides, the pandemic revealed the necessity of the advance security measures that consequently raised a greater focus on the regular and comprehensive penetration testing that aims at protecting from the possible breaches and thereby reducing the financial and reputational risks.

The development pattern of penetration testing has been fueled by various factors in recent years. The growing number and level of cyber threats is making organizations in all industries to realize the importance of the security measures which they have to take before a threat is incurred. Penetration testing, as a fundamental part of the cyber security policies, has become more and more demanded as the businesses are trying to find and fix the weak links in their networks and systems, which can be later used by the hackers. The increase in demand is additionally boosted by the compliance rules and the need to protect the sensitive data against the possible attacks, which makes companies to hire the penetration testing service for the full coverage. All of these factors are amplifying the penetration testing market growth.

Along with this, the digital transformation process speed is increasing; therefore penetration testing is now a part of the development and deployment of the new technologies and applications. Organizations are now appending the penetration testing to their software development life cycles in order to detect and fix the security flaws early in the process, which, in turn, will lower the total cost of the security incidents in the future.

Comprehensive Analysis Penetration Testing Market

Based on the deployment mode, the penetration testing market can be separated into On-Premise and Cloud types, which shows the versatility of deployment methods to it makes organizational needs. Type Segmentation includes network penetration testing, web application, mobile application, social engineering, cloud penetration testing, and other types such as IoT and API testing, which shows the various technique of the assessment used to find the vulnerabilities of different platforms. The two categories of enterprises which are large enterprises and small & medium enterprises (SMEs) are different from each other in terms of their size and complexity of security requirements. The End-Users segmentation is the one that covers the banking, finance, insurance and real estate, IT, telecommunications, healthcare, retail and consumer goods, government and public sectors, and other sectors like media and entertainment, education, etc. , thereby, the fact that the service is used by many industries.

North America is at the forefront of the penetration testing market share due to its strong technology infrastructure, the massive use of digital solutions, and strict regulatory requirements. The region's dominance is emphasized by the fact that it is home to a high concentration of cyber security firms and skilled professionals, as well as the fact that the region adopts a proactive stance towards cyber security measures. Besides, the sectors such as finance, healthcare and technology in North America, all of which are the top industries, attach great importance to the cyber security investments as they help in protecting their critical assets and the maximum compliance with the regulatory mandates. This environment is the ideal place for the production of new innovative penetration testing methods and technologies which hence in turn are adopted by the market, this leads to the maintenance of North America's place in the leading penetration testing markets worldwide.

The top players in the market play a crucial role in shaping the industry's growth trajectory and setting market standards. These players include: CrowdStrike (U.S.), Rapid7 (U.S.), Synopsys, Inc. (U.S.), Secureworks, Inc. (U.S.), Invicti (U.S.), IBM Corporation (U.S.), ASTRA IT, Inc. (U.S.), Indusface (India), BreachLock Inc. (The Netherlands), THREATSPIKE LABS (U.K.)

In August 2023, Coalfire launched Hexeon, groundbreaking Offensive Security software as a service (SaaS) that is based on the vulnerability management lifecycle to monitor and evaluate risks. This well-rounded solution gives a more detailed background on threat exposures and also allows the ongoing cooperation with the penetration testers. Besides, in December 2023, Chubb, a leading property and casualty insurance company, has signed a deal with NetSPI, a warehousing security provider, to work together on the Solar Wall program. This collaboration intends to enrich the customers' cyber risk profiles by means of improved attack surface management and penetration testing solutions.

Segmentation Table

Attribute Details

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 12.6% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Deployment Mode

On-Premise

Cloud

By Testing Type

Network Penetration Testing

Web Application

Mobile Application

Social Engineering

Cloud Penetration Testing

Others (IoT and API)

By Enterprise Type

Large Enterprises

Small & Medium Enterprises (SMEs)

By End-Users

BFSI

IT and Telecommunications

Healthcare

Retail and Consumer Goods

Government and Public

Others (Media and Entertainment, Education, etc.)

By Region

North America (By Deployment Mode; Testing Type; Enterprise Type; End-Users, and Country)

- U.S. (By End-Users)

- Canada (By End-Users)

- Mexico (By End-Users)

South America (By Deployment Mode; Testing Type; Enterprise Type; End-Users, and Country)

- Brazil (By End-Users)

- Argentina (By End-Users)

- Rest of South America

Europe (By Deployment Mode; Testing Type; Enterprise Type; End-Users, and Country)

- U.K. (By End-Users)

- Germany (By End-Users)

- France (By End-Users)

- Italy (By End-Users)

- Spain (By End-Users)

- Russia (By End-Users)

- Benelux (By End-Users)

- Nordics (By End-Users)

- Rest of Europe

Middle East & Africa (By Deployment Mode; Testing Type; Enterprise Type; End-Users, and Country)

- Turkey (By End-Users)

- Israel (By End-Users)

- GCC (By End-Users)

- North Africa (By End-Users)

- South Africa (By End-Users)

- Rest of the Middle East & Africa

Asia Pacific (By Deployment Mode; Testing Type; Enterprise Type; End-Users, and Country)

- China (By End-Users)

- Japan (By End-Users)

- India (By End-Users)

- South Korea (By End-Users)

- ASEAN (By End-Users)

- Oceania (By End-Users)

- Rest of Asia Pacific


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