Penetration Testing Market - Forecasts from 2024 to 2029

Penetration Testing Market - Forecasts from 2024 to 2029


The penetration testing market was evaluated at US$1.781 billion in 2022, growing at a CAGR of 13.22%, reaching a market size of US$4.351 billion by 2029.

A penetration test is projected to show steady growth during the forecast period. A penetration test, which is called a pen test, is a legitimate assumed attack done on the computer system to examine the security protocols. Penetration evaluators use these types of techniques and protocols to resemble a hacker to ensure the possible effect of proneness involved in the system. This type of evaluation resembles a wide range of cyber strikes which would be a threat to the company. The pen test enables it to withstand authenticated and unauthenticated attacks along with a variety of system roles. By using suitable parameters, a pen test can penetrate into every aspect of the system.

A penetration test feeds real information into the efficacy of the company's goals. This test helps and indicates the vulnerabilities in systems, evaluates efficient measures, and adheres to regulations with respective data privacy and security. Increasing utilization of mobile applications increased cyber threats, and growing demand for digitization are driving the penetration testing market growth.

Penetration Testing Market Drivers

Growing usage of mobile applications drives the penetration testing market growth.

The broad usage of mobile applications with respective banking, healthcare, and social media requires sturdy security regulation. As these applications involve sensitive information related to consumer personal details like bank details, health-related problems are being fed into the database as a single security imbalance costs severe problems to both the consumer and the organization. In this scenario, the penetration test acts as a digital protector for mobile applications. The penetration test uses tactics to replicate the path used by the breacher to pinpoint the vulnerabilities prior to the point it can be breached.

For instance, in February 2023, the Press Information Bureau published an article stating that the Government partnered with relevant stakeholders, has successfully enhanced the E-payments transactions from 2,071 crore during the FY 2021-22.
Increased cyber threats propel penetration testing market growth.

The growing prevalence of cyberattacks, starting from ransomware that abrupt day-to-day operations to data breaches that break relevant information, is driving organizations to sort and opt for cybersecurity. Penetration testing acts as a precautionary measure to protect the data from threats, as this penetration testing acts like an attack on systems that is a tactic used by the employer to detect the loops in the system to fix them before they are exposed.

For example, a healthcare network is defended by ransomware, which denies access to doctors from patients. By using the pen test, one can detect and fix the upcoming problems that cause a disaster. As pen test helps the company to stay updated and be a step forward for cybercriminals where they can protect sensitive data.

For instance, in December 2023, the Data Security Council published an article stating that the number of known threats has significantly increased to a whopping 400 million, which encompasses 8.5 million conclusion points.
Growing demand for digitalization enhances penetration testing market growth.

The fast-ongoing digital transformation in developing countries, linked with the growing access to wards and the internet and interconnected devices such as home appliances, is propelling cyber threats. These factors, with respective internet and connected devices, make a good platform for cyber-attacks making a dangerous notification. In order to stay updated about ongoing threats, it’s a smart move to adopt a tedious security testing protocol, with a pen test which plays a vital role. This test acts as a protective shield, which can manipulate the cyber threats and pin the weak sections in these types of connections toward various devices.

For instance, in 2023, Eurostat published a report that states that in 2022, 72% of internet surfers in Europe used internet-based connected devices or systems. Out of these users, 64% opt for smart home entertainment solutions where TVs have established connections with the internet.

Penetration Testing Market – Geographical Outlook

North America is expected to grow significantly.

North America is anticipated to account for a significant share of the penetration testing market due to various factors. The region is a central hub for a variety of technological implementations with the connection of the internet and interconnected devices. The companies in the region are vulnerable to cyber-attacks, data breaches, and cyber-related scams. These types of growing threats to the companies propel cybersecurity solutions and protective measures to safeguard the data. A pin test provides a significant solution for these cyber aspects problems. Furthermore, Government rules and safety protocols from countries like the United States and Canada where companies from these regions need to undergo regular security examinations, ensuring and decreasing the risk of significant penalties.

Penetration Testing Market Restraints
Limited resources hinder penetration testing market growth.

The size of the organization or enterprise has an impact on the implementation of penetration testing as the test requires qualified individuals who can run the systems fix the problems and access the further threats to complete the cycle of examination. To run these tests enterprise, need to provide financial support which will be challenging for the organizations.
Business Operations Disruption curbs penetration testing market growth.

The penetration testing requires time to examine and fix the problem because of this time consumption process the day-to-day operation of the organizations being held to a halt.

Penetration Testing Market Key Industry Developments
February 2023: Net SPI, a company well known for its penetration testing and ground management, purchased nVisium. The intention of the purchase is to extend Net SPI’s security products offering and meet the growing need for penetration testing solutions.

Penetration Testing Market Major Players and Products
Crowdstrike Falcon: crowd strike platform that runs on the cloud, intending to protect business operations from cyberattacks. By utilizing innovative technologies like artificial intelligence, it can easily identify and stop the threat over various domains, involving endpoints, identities, and data.
InsightIDR: The product launched by Rapid 7 is an innovative cloud-based platform called Security Information and Event Management (SIEM) is a tool having features like advanced detection and response (XDR) functions. It incorporated and established the process of detecting and warning about the threats for the enterprises.

Penetration Testing market is segmented and analyzed as follows:

By Deployment
On-premise
Cloud
By Organization Size
Large
Small and Medium Enterprises
By Component
Solution
Service
By Testing Type
Network Penetration Testing
Application Penetration Testing
Cloud Penetration Testing
Others
By Industry Vertical
Healthcare
BFSI
Government and Defence
Retail and E-commerce
Energy and Utilities
Others
By Geography

North America
United States
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
France
Italy
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
Japan
China
India
South Korea
Taiwan
Thailand
Indonesia
Others


1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base and Forecast Years Timeline
1.8. Key Benefits to the Stakeholder
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Processes
3. EXECUTIVE SUMMARY
3.1. Key Findings
3.2. Analyst View
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. PENETRATION TESTING MARKET BY DEPLOYMENT
5.1. Introduction
5.2. On-Premise
5.2.1. Market Trends and Opportunities
5.2.2. Growth Prospects
5.2.3. Geographic Lucrativeness
5.3. Cloud
5.3.1. Market Trends and Opportunities
5.3.2. Growth Prospects
5.3.3. Geographic Lucrativeness
6. PENETRATION TESTING MARKET BY ORGANIZATION SIZE
6.1. Introduction
6.2. Large Enterprise
6.2.1. Market Trends and Opportunities
6.2.2. Growth Prospects
6.2.3. Geographic Lucrativeness
6.3. Small and Medium Enterprise
6.3.1. Market Trends and Opportunities
6.3.2. Growth Prospects
6.3.3. Geographic Lucrativeness
7. PENETRATION TESTING MARKET BY COMPONENT
7.1. Introduction
7.2. Solution
7.2.1. Market Trends and Opportunities
7.2.2. Growth Prospects
7.2.3. Geographic Lucrativeness
7.3. Service
7.3.1. Market Trends and Opportunities
7.3.2. Growth Prospects
7.3.3. Geographic Lucrativeness
8. PENETRATION TESTING MARKET TESTING TYPE
8.1. Introduction
8.2. Network Penetration Testing
8.2.1. Market Trends and Opportunities
8.2.2. Growth Prospects
8.2.3. Geographic Lucrativeness
8.3. Application Penetration Testing
8.3.1. Market Trends and Opportunities
8.3.2. Growth Prospects
8.3.3. Geographic Lucrativeness
8.4. Cloud Penetration Testing
8.4.1. Market Trends and Opportunities
8.4.2. Growth Prospects
8.4.3. Geographic Lucrativeness
8.5. Others
8.5.1. Market Trends and Opportunities
8.5.2. Growth Prospects
8.5.3. Geographic Lucrativeness
9. PENETRATION TESTING MARKET BY INDUSTRY VERTICAL
9.1. Introduction
9.2. Healthcare
9.2.1. Market Trends and Opportunities
9.2.2. Growth Prospects
9.2.3. Geographic Lucrativeness
9.3. BFSI
9.3.1. Market Trends and Opportunities
9.3.2. Growth Prospects
9.3.3. Geographic Lucrativeness
9.4. Government and Defence
9.4.1. Market Trends and Opportunities
9.4.2. Growth Prospects
9.4.3. Geographic Lucrativeness
9.5. Retail and E-Commerce
9.5.1. Market Trends and Opportunities
9.5.2. Growth Prospects
9.5.3. Geographic Lucrativeness
9.6. Energy and Utilities
9.6.1. Market Trends and Opportunities
9.6.2. Growth Prospects
9.6.3. Geographic Lucrativeness
9.7. Others
9.7.1. Market Trends and Opportunities
9.7.2. Growth Prospects
9.7.3. Geographic Lucrativeness
10. PENETRATION TESTING MARKET, BY GEOGRAPHY
10.1. Introduction
10.2. North America
10.2.1. By Deployment
10.2.2. By Organization Size
10.2.3. By Component
10.2.4. By Testing Type
10.2.5. By Industry Vertical
10.2.6. By Country
10.2.6.1. United States
10.2.6.1.1. Market Trends and Opportunities
10.2.6.1.2. Growth Prospects
10.2.6.2. Canada
10.2.6.2.1. Market Trends and Opportunities
10.2.6.2.2. Growth Prospects
10.2.6.3. Mexico
10.2.6.3.1. Market Trends and Opportunities
10.2.6.3.2. Growth Prospects
10.3. South America
10.3.1. By Deployment
10.3.2. By Organization Size
10.3.3. By Component
10.3.4. By Testing Type
10.3.5. By Industry Vertical
10.3.6. By Country
10.3.6.1. Brazil
10.3.6.1.1.1. Market Trends and Opportunities
10.3.6.1.1.2. Growth Prospects
10.3.6.2. Argentina
10.3.6.2.1.1. Market Trends and Opportunities
10.3.6.2.1.2. Growth Prospects
10.3.6.3. Others
10.3.6.3.1.1. Market Trends and Opportunities
10.3.6.3.1.2. Growth Prospects
10.4. Europe
10.4.1. By Deployment
10.4.2. By Organization Size
10.4.3. By Component
10.4.4. By Testing Type
10.4.5. By Industry Vertical
10.4.6. By Country
10.4.6.1. United Kingdom
10.4.6.1.1. Market Trends and Opportunities
10.4.6.1.2. Growth Prospects
10.4.6.2. Germany
10.4.6.2.1. Market Trends and Opportunities
10.4.6.2.2. Growth Prospects
10.4.6.3. France
10.4.6.3.1. Market Trends and Opportunities
10.4.6.3.2. Growth Prospects
10.4.6.4. Italy
10.4.6.4.1. Market Trends and Opportunities
10.4.6.4.2. Growth Prospects
10.4.6.5. Spain
10.4.6.5.1. Market Trends and Opportunities
10.4.6.5.2. Growth Prospects
10.4.6.6. Others
10.4.6.6.1. Market Trends and Opportunities
10.4.6.6.2. Growth Prospects
10.5. Middle East and Africa
10.5.1. By Deployment
10.5.2. By Organization Size
10.5.3. By Component
10.5.4. By Testing Type
10.5.5. By Industry Vertical
10.5.6. By Country
10.5.6.1. Saudi Arabia
10.5.6.1.1. Market Trends and Opportunities
10.5.6.1.2. Growth Prospects
10.5.6.2. UAE
10.5.6.2.1. Market Trends and Opportunities
10.5.6.2.2. Growth Prospects
10.5.6.3. Others
10.5.6.3.1. Market Trends and Opportunities
10.5.6.3.2. Growth Prospects
10.6. Asia Pacific
10.6.1. By Deployment
10.6.2. By Organization Size
10.6.3. By Component
10.6.4. By Testing Type
10.6.5. By Industry Vertical
10.6.6. By Country
10.6.6.1. Japan
10.6.6.1.1. Market Trends and Opportunities
10.6.6.1.2. Growth Prospects
10.6.6.2. China
10.6.6.2.1. Market Trends and Opportunities
10.6.6.2.2. Growth Prospects
10.6.6.3. India
10.6.6.3.1. Market Trends and Opportunities
10.6.6.3.2. Growth Prospects
10.6.6.4. South Korea
10.6.6.4.1. Market Trends and Opportunities
10.6.6.4.2. Growth Prospects
10.6.6.5. Taiwan
10.6.6.5.1. Market Trends and Opportunities
10.6.6.5.2. Growth Prospects
10.6.6.6. Thailand
10.6.6.6.1. Market Trends and Opportunities
10.6.6.6.2. Growth Prospects
10.6.6.7. Indonesia
10.6.6.7.1. Market Trends and Opportunities
10.6.6.7.2. Growth Prospects
10.6.6.8. Others
10.6.6.8.1. Market Trends and Opportunities
10.6.6.8.2. Growth Prospects
11. COMPETITIVE ENVIRONMENT AND ANALYSIS
11.1. Major Players and Strategy Analysis
11.2. Market Share Analysis
11.3. Mergers, Acquisitions, Agreements, and Collaborations
11.4. Competitive Dashboard
12. COMPANY PROFILES
12.1. Crowdstrike
12.2. Rapid7
12.3. Synopsys, Inc.
12.4. IBM
12.5. Cigniti Technologies
12.6. Invicti
12.7. ASTRA IT, Inc.
12.8. Secureworks, Inc.
12.9. Indusface
12.10. Vairav Technology Security Pvt. Ltd

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