Penetration Testing Market size was valued at US$ 1.90 Billion in 2022 and the total Penetration Testing revenue is expected to grow at 16.5% through 2022 to 2029, reaching nearly US$ 5.53 Billion.
Penetration Testing Market Overview:
The purpose of this report is to provide a thorough examination of the Penetration Testing Market by segments and geographics. The study goes into great detail on the primary factors influencing the Penetration Testing market's growth. The study also offers a comprehensive analysis of the market's value chain.
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Penetration Testing Market Scope:
The "Global Penetration Testing Market Analysis" is a detailed investigation of the Penetration Testing market, with a focus on global market trends and analysis. The goal of this research is to provide an overview of the Penetration Testing market as well as detailed market segmentation by application, end-use, and geography. The Penetration Testing market is expected to develop substantially over the forecast period. The study contains critical information on the market positions of the leading Penetration Testing players, as well as noteworthy industry trends and opportunities.
The research method used to assess and anticipate the Penetration Testing market begins with secondary research using sources that collect revenue data from key suppliers. When calculating market segment estimation, the vendor offerings are also considered. Using the bottom-up method, the whole size of the Penetration Testing market was calculated using the revenue of significant enterprises.
Penetration Testing Market Segmentation:
Web application penetration testing, mobile application penetration testing, network penetration testing, and other are the segments listed by kind. The CAGR for mobile applications is predicted to be 6.8% over the forecast period (2023-2029). The strong demand for E-Commerce applications like Amazon and Zomato in the worldwide IT sector is responsible for this growth. Continuous data breaches occur at massive online retailers like Amazon and Facebook. The potential breach or vulnerability in these apps is expected to be found with the use of penetration testing. In April 2022, the personal information of approximately 530 million Facebook users was exposed online. It contained the personal phone numbers, e-mail addresses, and other biographical data of the app's users worldwide. These widespread data breaches at major international social media platforms are expected to contribute to the penetration testing market growth in the same forecast period.
In terms of industry, the banking and finance sector, government, and defense, along with them, held the top two spots in the global penetration testing market in 2020. Russian hackers broke into the federal government of the United States' database in 2020. Therefore, throughout the aforementioned forecast period, cyber-attacks on government databases like these are expected to fuel the expansion of the government and defense segment in the global market. A ransomware assault that targeted the US banking institution CNA in March 2022 resulted in a three-day interruption of employee and customer services. The nation's Federal Trade Commission had issued a warning about an email scam involving the COVID-19 stimulus funds provided by the governments in the same month. Repeated attacks like these on financial institutions on a global scale is projected to help the overall growth of the Banking and Financial segment of the penetration testing market.
1 Global Penetration Testing Market, by Type (2022-2029)
• Web Application Penetration Testing
• Mobile Application Penetration Testing
• Network Penetration Testing
• Other
2 Global Penetration Testing Market, by Deployment (2022-2029)
• On-premise
• Cloud
3 Global Penetration Testing Market, by Industry (2022-2029)
• Government and Defense
• BFSI
• IT and Telecom
• Retail & E-Commerce
• Other
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Penetration Testing Market Key Players:
The major players covered in the Penetration Testing market report are
1. WhiteHat Security
2. Checkmarx
3. FireEye
4. Micro Focus
5. Secureworks
6. Rhino Security Labs
7. Immuniweb
8. PortSwigger Web Security
9. iSECURION
10.Core Security SDI Corporation
11.Redteam Security Consulting
12.Context Information Security
13.Rapid7, Inc.
14.Qualys, Inc
15.Veracode
16.Trustwave Holdings, Inc
17.Acunetix
18.Hewlett Packard Enterprise
19.IBM Corporation
20.Cigital Inc
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Regional Analysis:
Global, North America, Europe, Asia-Pacific, the Middle East, Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.
COVID-19 Impact Analysis on Penetration Testing Market:
Aerospace and defense, agriculture, automobiles, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among other industries, have all been affected by the COVID-19 outbreak. COVID-19 has had an impact on the Penetration Testing market in general, as well as the growth rate in 2019-2020, as the impact of COVID-19 spread. Our most recent inquiry, opinions, and bits of knowledge on the market are critical to the businesses and associations in the Penetration Testing industry,
Key Questions Answered in the Penetration Testing Market Report are:
- Which segment grabbed the largest share in the Penetration Testing market?
- What was the competitive scenario of the Penetration Testing market in 2021?
- Which are the key factors responsible for the Penetration Testing market growth?
- Which region held the maximum share in the Penetration Testing market in 2021?
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