Pune, India, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The global penetration testing market size was valued at USD 1.98 billion in 2022 and is projected to reach USD 5.10 billion by 2030, exhibiting a CAGR of 12.8% during the forecast period. Fortune Business Insights presents this information in their report titled "Global Penetration Testing Market Forecast, 2023-2030."
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Penetration testing helps cyber security experts identify and exploit computer system vulnerabilities. This testing can simulate the organizations from various cyberattack risks. The increasing need to recognize cybersecurity risks and frauds across enterprise networks drives the penetration testing market growth during the forecast period.
Notable Industry Development-
August 2023 – Mobile app security provider Appdome launched a new project that combines cyber discovery and delivery. Through this project, Appdome will partner with over 50 mobile app penetration testers worldwide to improve the mobile app economy security and protect mobile applications worldwide.
Key Takeaways
- Penetration Testing Market size in North America was USD 0.73 billion in 2022
- Increased Number of Cyberattacks During Pandemic Aided Market Growth
- Increasing Need for Threat Identification to Boost Segment Growth for Cloud-based Segment
- Increasing Risk of Cyberattacks in Mobile Apps to Aid Segment Growth
Discover the Leading Players Featured in the Report:
“Companies leading the global Penetration Testing Market are 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.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 12.8% |
| 2030 Value Projection | USD 5.10 Billion |
| Base Year | 2022 |
| Penetration Testing Market Size in 2022 | USD 1.98 billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 160 |
| Segments covered | By Deployment Mode, Testing Type, Enterprise Type, End-Users, and Region |
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Drivers & Restraints
Increasing Number of Cyberattacks to Boost Market Growth
The penetration testing market is estimated to grow significantly during the forecast period due to the increasing number of cyberattacks worldwide. Many companies are utilizing pen test services in their systems to manage large numbers of data and business on the internet. The growing attacks by hackers on networks, endpoints, and several other IT infrastructure is propelling the demand for pen tests globally.
The lack of communication, such as changing working hours and increasing misinterpretations, will hamper the market growth during the forecast period.
Segmentation
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 Industry
- BFSI
- IT and Telecommunications
- Healthcare
- Retail and Consumer Goods
- Government and Public
- Others (Media and Entertainment, Education, etc.)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights
Increasing Number of Cyber Attacks on Networks to Boost Market Growth in North America
North America held a major penetration testing market share in 2022. The growth is attributed to the increasing number of cyberattacks on the networks of private and public companies in the region. The key players continue to adopt collaborative strategies in the region, further propelling the market growth during the forecast period.
Asia Pacific is expected to grow significantly during the forecast period due to the rising use of data analytics to enhance businesses and governments.
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Competitive Landscape
Rising Collaborative Strategies Adoption by Key Players Drive Market Growth
The key players in the penetration testing market are adopting various strategies, such as collaborations, partnerships, mergers, and acquisitions, to strengthen their market position, further boosting the market growth. The key players focus on acquiring local and small companies to grow and expand their business.
FAQs
How big is the Penetration Testing Market?
The Penetration Testing Market size was USD 1.98 billion in 2022. It is expected to reach USD 5.10 Billion by 2030.
How fast is the Penetration Testing Market growing?
The Penetration Testing Market will exhibit a CAGR of 12.8% during the forecast period, 2023-2030.
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