The Worldwide Penetration Testing Industry is Expected to Reach $3.1 Billion by 2027

DUBLIN, Oct. 7, 2021 /PRNewswire/ -- The "Global Penetration Testing Market By Offering, By Application, By Deployment Type, By Enterprise Size, By End User, By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.

The Global Penetration Testing Market size is expected to reach $3.1 billion by 2027, rising at a market growth of 12% CAGR during the forecast period. Penetration testing, also commonly known as ethical hacking or pen testing, is performed to test a network, computer system, and web application to identify security weaknesses including the possibility to access the system's data & features by unauthorized parties and strengths that allows a full risk assessment to be completed. Penetration testing is the method of testing, which is used to increase and measure the installed security solutions on various devices like computers, mobile phones, and other information systems.

The factors such as the rising number of cyberattacks leading to the major losses in reputation & financial of companies, growing severe regulations, and compliances mandating regular penetration testing practices are anticipated to surge the growth of the penetration testing market. In addition, massive usage of smartphones has also increased the use of mobile-based business-critical applications and growing internet penetration are some determinants that is expected to offer lucrative opportunities to the penetration testing solutions. Additionally, integration of technologies like machine learning & artificial intelligence, remote working security assessments, and growing trends of penetration testing-as-a-service (PTaaS) is anticipated to create new avenues for growth for the vendors offering penetration testing solutions.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic has severely affected various industries across the world. The disease has spread in most of the countries and WHO declared it a public health emergency. Also, the coronavirus had a negative impact on the penetration testing market. The COVID-19 outbreak affected the global economy in different ways like disrupting the supply chain and market, reduced the demand and production rate, and heavy loss of the industries. In addition, the government has imposed severe restrictions on movement due to which flights were canceled, traveling was banned and among others.

During the pandemic, many companies started working from remote areas. Employees were given instructions to follow the stringent norms of the COVID-19 pandemic to avoid face-to-face interactions and maintaining social distance. Several companies started to digitalize their business, which increased the demand for various cybersecurity solutions and penetration testing solutions. Employees got access to use the company's data on their personal devices, which surged the chances of data breaching and data loss. All these factors are accountable to gradually surge the demand for the penetrating testing market.

Market Growth Factors:

Imposition of strict norms and compliances by the government regarding frequent penetration testing

The government has implemented certain regulations like OWASP, NIS, SOX, SOC2, PCI, DSS, and GDPR according to which, it is necessary to conduct penetration testing at regular intervals and companies will be charged, if they unable to follow the rules strictly. As stated by REdScan, companies are anticipated to adopt the process of penetration testing at regular intervals and for evaluation of the efficiency of technical and company's measures to secure the data processing.

The trend of penetration testing-as-a-service (PTaaS) has witnessed a boost

Cloud-based penetration testing is also known as penetration testing-as-a-service (PTaaS) and the cybersecurity industry is observing a surge in the trends of PTaaS. PTaaS helps in offering the resources that are required by IT professionals to organize and act upon the penetration tests. This test includes continuous monitoring and generates reports that allow users to view results in real-time.

Market Restraining Factor:

Low availability of skilled security experts who can perform penetration tests

The major problem of the companies is to deal with the smaller number of skilled security experts and hence, is responsible for slowdown the capability of companies that face growing cybersecurity needs. Several companies hire people to identify and analyze cyber threats but these people are also highly qualified, and thus, are unable to succeed in preventing the data from cyber attackers. In addition, the installation of penetration testing solutions requires a large investment, which is another factor hampering the growth of the penetration testing market.

Recent Strategies Deployed in Penetration Testing Market

Partnerships, Collaborations, and Agreements:

• Jul-2021: HelpSystems came into partnership with Cybellum, a leader in automotive cyber security risk assessment solutions. The companies' joint solution is expected to provide automated security scanning and a full vulnerability management analysis across the connected car lifecycle to make sure the automotive software security and compliance with road vehicle standards & regulations.
• Apr-2021: IBM Security came into partnership with HCL Technologies, a technology services firm. This partnership aimed to assist unifies and streamline threat management for customers via a modernized security operation center (SOC) platform. HCL's Cyber security Fusion Centres is expected to be developed to take benefits of IBM's Cloud Pak for Security, to assist in making a unified security platform to connect security teams, tools, and procedures over the threat lifecycle.
• Jul-2020: Checkmarx formed a partnership with Gaming Innovation Group (GiG). This partnership aimed to enable GiG to offer its developers a robust source code scanning tool that is expected to enable them to detect and rectify security vulnerabilities in custom code security at one point. This is expected to also improve the development process by boosting remediation time, and by producing more meaningful and actionable insight on code security.
• Jan-2020: HackerOne came into partnership with OPPO, an electronics manufacturer based in Guangdong, China. Through this partnership, OPPO is expected to enhance the security of its products & services, and deliver a safer internet by engaging the world's security research community with HackerOne.

Acquisitions and Mergers:

• May-2021: HelpSystems took over Beyond Security, a global leader in automated vulnerability assessment and compliance solutions. This acquisition aimed to offer detection across applications, networks, endpoints, and the cloud for its expanding customer base as part of HelpSystems.
• Feb-2021: HelpSystems acquired Digital Defense, a software company. In the HelpSystems' cybersecurity portfolio, Digital Defense is expected to join Core Security and Cobalt Strike to set up a comprehensive, top-class security assessment toolkit. In addition, Digital Defense is expected to continue to safeguard the ever-growing IT underpinnings of thousands of companies as part of HelpSystems.
• Jul-2020: Offensive Security took over open source security training resource hub VulnHub. This acquisition aimed to complement OffSec's ongoing mission to deliver practical training content to aspiring cybersecurity professionals. All the VulnHub content is expected to be accessible for free in keeping with OffSec's objective to open source.
• Mar-2020: HelpSystems took over Cobalt Strike, a leading penetration testing (pen-testing) solution. This acquisition aimed to support HelpSystems' prevailing Core Security business unit by bringing top-class tools and integrating them with robust services to strengthen HelpSystems' infrastructure protection portfolio.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 COVID-19
2.1.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2019, Mar - 2021, Mar) Leading Players

Chapter 4. Global Penetration Testing Market by Offering
4.1 Global Penetration Testing Solution Market by Region
4.2 Global Penetration Testing Services Market by Region

Chapter 5. Global Penetration Testing Market by Application
5.1 Global Penetration Testing Web Applications Market by Region
5.2 Global Penetration Testing Mobile Applications Market by Region
5.3 Global Penetration Testing Network Infrastructure Market by Region
5.4 Global Penetration Testing Social Engineering Market by Region
5.5 Global Penetration Testing Cloud Market by Region
5.6 Global Other Application Penetration Testing Market by Region

Chapter 6. Global Penetration Testing Market by Deployment Type
6.1 Global Cloud-based Penetration Testing Market by Region
6.2 Global On-premise Penetration Testing Market by Region

Chapter 7. Global Penetration Testing Market by Enterprise Size
7.1 Global Large Enterprises Penetration Testing Market by Region
7.2 Global Small & Medium Enterprises Penetration Testing Market by Region

Chapter 8. Global Penetration Testing Market by End User
8.1 Global IT & Telecom Penetration Testing Market by Region
8.2 Global BFSI Penetration Testing Market by Region
8.3 Global Retail Penetration Testing Market by Region
8.4 Global Healthcare Penetration Testing Market by Region
8.5 Global Manufacturing Penetration Testing Market by Region
8.6 Global Education Penetration Testing Market by Region
8.7 Global Others Penetration Testing Market by Region

Chapter 9. Global Penetration Testing Market by Region

Chapter 10. Company Profiles
10.1 International Business Machines Corporation
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Regional & Segmental Analysis
10.1.4 Research & Development Expenses
10.1.5 Recent Strategies and Developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.5.2 Product Launches and Product Expansions:
10.1.5.3 Geographical Expansions:
10.1.6 SWOT Analysis
10.2 Micro Focus International PLC
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Regional Analysis
10.2.4 Research & Development Expenses
10.2.5 Recent Strategies and Developments:
10.2.5.1 Acquisitions and Mergers:
10.2.6 SWOT Analysis
10.3 FireEye, Inc.
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Regional Analysis
10.3.4 Research & Development Expense
10.3.5 Recent Strategies and Developments:
10.3.5.1 Product Launches:
10.3.5.2 Acquisitions and Mergers:
10.4 HelpSystems, LLC
10.4.1 Company Overview
10.4.2 Recent Strategies and Developments:
10.4.2.1 Partnerships, Collaborations, and Agreements:
10.4.2.2 Acquisitions and Mergers:
10.5 HackerOne, Inc.
10.5.1 Company Overview
10.5.2 Recent Strategies and Developments:
10.5.2.1 Partnerships, Collaborations, and Agreements:
10.5.2.2 Geographical Expansions:
10.6 Rhino Security Labs, Inc.
10.6.1 Company Overview
10.7 Indium Software, Inc.
10.7.1 Company Overview
10.7.2 Recent Strategies and Developments:
10.7.2.1 Product Launches and Product Expansions:
10.8 Vumetric, Inc.
10.8.1 Company Overview
10.9 Offensive Security Services, LLC
10.9.1 Company Overview
10.9.2 Recent Strategies and Developments:
10.9.2.1 Acquisitions and Mergers:
10.1 Checkmarx Ltd.
10.10.1 Company Overview
10.10.2 Recent Strategies and Developments:
10.10.2.1 Partnerships, Collaborations, and Agreements:
10.10.2.2 Product Launches and Product Expansions:

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]      

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets

Related Links

http://www.researchandmarkets.com

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED