Published on September 26th, 2019 📆 | 1657 Views ⚑0
Penetration Testing Market 2019 – 2023: Global Leading Growth Drivers, Emerging Audience, Industry Segments, Business Trends and Regional Study – Press Release
“Penetration Testing Market”
Global Penetration Testing Market is expected to reach approximately USD 2.8 billion by 2023 growing with 26% CAGR over the forecast period 2017-2023 and Penetration Testing Market Research Report Information, by Component (Services &Solutions), by Type (External, Internal, Blind, & Double Blind)
Penetration Testing Market Highlights:
Penetration test, also referred to as pen test, is a virtual cyber-attack launched against the computer system to check for probable flaws existing within the system. When integrated with web application security, penetration testing helps in augmenting the web application firewall (WAF). The global penetration testing market is anticipated to generate revenue of approximately USD 2.8 billion by 2023. The market is estimated to develop at 26% CAGR during the forecast period 2017-2023. Pen testing can deal with attempted breaching of several application systems, for instance frontend/backend servers and application protocol interfaces (APIs), to expose risks that are prone to code injection attacks.
The outcomes obtained from penetration test can find application in fine tuning the WAF security policies coupled with patch detected vulnerabilities. Penetration Testing Market is best carried out by contractors hired from external agencies who are typically known as ‘ethical hackers.’ They are hired to test the flaws and loopholes present in a system which they are not familiar with. The ethical hackers are provided with the access to the system and are permitted to enter it for the time being to detect the pitfalls, if any.
Penetration testing assists the developers in monitoring, testing, and enhancing the prevailing security procedures on supporting applications and information systems. The rise in demand for secured web applications to thwart against cyber-attacks and rise in internet penetration are some of the key driving forces for the development of penetration testing market during the forecast period.
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Major Key Players:
Global penetration testing market is dominated by key players such as Redteam Security Consulting (U.S.), Core Security SDI Corporation (U.S.), Rapid7, Inc. (U.S.), Context Information Security (U.S.), Veracode (U.S.), Qualys, Inc. (U.S.), Acunetix (Malta), Hewlett Packard Enterprise (U.S.), Trustwave Holdings, Inc. (U.S.), Cigital Inc. (U.S.), WhiteHat Security (U.S.), Checkmarx (Israel), and IBM Corporation (U.S.).
The penetration testing market is segmented based on component, type, end-user, organization size, and deployment. Based on component, the penetration testing market is sub-segmented as testing solutions and services solutions. The services solutions segment is sub-segmented into managed services and professional services.
The professional services segment is sub-segmented into implementing services, consulting services, training services, and integrating services. The testing solutions are segmented as web application penetration testing, wireless penetration testing, network penetration testing, social engineering, mobile application penetration testing, and others.
Based on type, the market is segmented into blind testing, external testing, double blind testing, and internal testing. Based on end-user, the market is segmented into BFSI, IT & telecom, energy & power, manufacturing, media & entertainment, healthcare, and others. Based on organization size, the market is segmented into small & medium enterprise and large enterprise. Based on deployment, the market is segmented into on-premises and on-cloud.
As per the research reports published by Market Research Future, the penetration testing market is geographically segmented into four key markets namely Europe, Asia Pacific, North America, and the Rest of the World. North America is likely to dominate the global penetration testing market owing to presence of large number of industries and IT giants in the region. Canada and the United States are ruling the North America market.
The IT giants present in the North America market are extremely sensitive about safeguarding the data they deal in and protecting the credentials of their client. Asia Pacific is estimated to hold a substantial share of the penetration testing market. It is regarded as one of the rapidly developing markets for penetration testing, during the forecast period. Increasing instances of urbanization and industrialization in the emerging economies of China and India are considered as significant factors for driving growth of the penetration testing market.
Developed country like Japan, also influences the penetration testing market positively owing to the technological innovations being adopted by the nation. Besides increased investment by the government agencies in penetration testing spurs its demand in the APAC market. Europe is projected to represent a considerable growth in the market owing to its strong technological infrastructure.
Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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List of Tables
Table1 Global Penetration Testing Market: By Region, 2017-2023
Table2 North America Penetration Testing Market: By Country, 2017-2023
Table3 Europe Penetration Testing Market: By Country, 2017-2023
List of Figures
Figure 1 Global Penetration Testing Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porters’ Five Forces Analysis of Global Penetration Testing Market
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