Penetration Testing as a Service Market Share, Size, Trends, Industry Analysis Report: By Deployment Mode (On-Premises and Cloud), Offering, Testing Type, Organization Size, Vertical, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2024–2032
The global penetration testing as a service market size is expected to reach USD 589.58 million by 2032, according to a new study by Polaris Market Research. The report “Penetration Testing as a Service Market Share, Size, Trends, Industry Analysis Report: By Deployment Mode (On-Premises and Cloud), Offering, Testing Type, Organization Size, Vertical, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Segment Forecast, 2024–2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The penetration testing as a service market is rapidly expanding due to the increased demand for robust cybersecurity measures due to rapid digital transformation. It involves evaluating an organization's security posture by emulating cyberattacks to pinpoint vulnerabilities and weaknesses before they are exploited by malicious actors. This service is increasingly vital as businesses across various sectors embrace advanced technologies such as cloud computing, Internet of Things (IoT), and mobile applications, which widen the potential attack surface for cyber threats.
The rising frequency and complexity of cyberattacks is driving the growth in the penetration testing as a service market. Organizations are contending with a growing array of cyber threats, spanning from data breaches to ransomware attacks, which have severe financial and reputational impacts. This has increased the awareness and urgency for proactive security measures, making penetration testing as a service an integral component of a comprehensive cybersecurity strategy. Furthermore, global regulatory and compliance requirements such as the General Data Protection Regulation (GDPR) mandate regular security assessments and penetration testing to ensure data protection and compliance.
Rapid digitalization in emerging markets, particularly in Asia Pacific, fuels the penetration testing as a service market growth. Countries such as India and China are experiencing a surge in the adoption of digital services and technologies, driving the demand for penetration testing as a service to secure new digital infrastructures. Furthermore, the COVID-19 pandemic has accelerated the shift toward remote work and digital collaboration, further increasing the need for robust cybersecurity measures to protect remote access systems and digital communication tools.
Penetration Testing as a Service Market Report Highlights
- In terms of vertical, the banking, financial services, and insurance (BFSI) segment accounted for the largest revenue share in the penetration testing as a service market in 2023 due to a significant increase in adoption of online banking, mobile banking applications, and digital payment systems.
- The cloud-based segment, based on deployment mode, is expected to record a higher CAGR during the forecast period as the shift toward remote work and digital transformation has expedited the adoption of cloud technology, increasing the need for strong cloud security measures.
- In 2023, North America accounted for the largest share in the penetration testing as a service market due to the high incidents of cyber threats, stringent regulatory requirements, and significant investments in advanced cybersecurity measures across various industries.
- Asia Pacific is expected to register the highest CAGR during the forecast period due to rapid digital transformation and increasing cyber threats in the region.
- Acunetix, Checkmarx, Coalfire Labs, Core Security, Cyberhunter Solutions, Fireeye, Hackerone, IBM, Immuniweb, Indium Software, Isecurion, Micro Focus, and Netsparkar are a few global key market players.
Polaris Market Research has segmented the penetration testing as a service market report on the basis of deployment mode, offering, testing type, organization size, vertical, and region:
By Deployment Mode Outlook (Revenue – USD million, 2019–2032)
By Offering Outlook (Revenue – USD million, 2019–2032)
By Testing Type Outlook (Revenue – USD million, 2019–2032)
- Cloud
- Mobile Applications
- Network Infrastructure
- Social Engineering
- Web Applications
- Others
By Organization Size Outlook (Revenue – USD million, 2019–2032)
- Large Enterprises
- Small and Medium Enterprises (SMEs)
By Vertical Outlook (Revenue – USD million, 2019–2032)
- Banking, Financial Services, and Insurance (BFSI)
- Healthcare
- Retail & Ecommerce
- Government
- Energy & Utilities
- IT & ITES
- Telecom
- Other Verticals
By Regional Outlook (Revenue – USD million, 2019–2032)
- US
- Canada
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Rest of Europe
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Australia
- Rest of Asia Pacific
- Argentina
- Brazil
- Mexico
- Rest of Latin America
- UAE
- Saudi Arabia
- Israel
- South Africa
- Rest of Middle East & Africa