Penetration Testing Market by Offering (Solution, Services), Type (Web Applications, Mobile Applications, Network Infrastructure, Social Engineering, Cloud), Organization Size, Deployment Mode, Vertical and Region - Global Forecast to 2029
[329 Pages Report] The global penetration testing market is estimated to be worth USD 1.7 billion in 2024 and is projected to reach USD 3.9 billion by 2029 at a CAGR of 17.1% during the forecast period.
As cybercrime becomes more advanced, businesses will need cutting-edge penetration testing tools to stay ahead of evolving web, network, and digitally inclusive threats. Stringent data privacy regulations will drive the demand for robust penetration testing solutions to meet compliance requirements. They will further fuel the need for penetration testing tools and solutions as businesses seek to protect themselves from emerging cyber risks. Cloud-based solutions offer scalability and reduced infrastructure investment, while automation streamlines workflows—specialized testing catering to industry-specific challenges, addressing evolving attack vectors and advanced security measures. The penetration testing market is expected to continue its upward trajectory, fueled by the rising complexity of cybercrime, growing regulatory pressure, and the increasing adoption of penetration testing tools and solutions in emerging regions like the Asia-Pacific. It ensures the growing importance of penetration testing, as it remains a vital component in safeguarding businesses against evolving cyber threats in the future.
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Penetration Testing Market Trends
Driver: Identify and Secure Vulnerabilities
IT systems are bustling with interconnected devices and applications. While this connectivity fuels innovation, it also breeds complexity, making it fertile ground for vulnerabilities. Every device and application can be an entry point for attackers, expanding the attack surface. Custom integrations and legacy code further complicate matters, creating pathways for exploitation through misconfigurations. This complexity often leads to blind spots where malicious activity can go unnoticed. Penetration testing emerges as a beacon in this complexity, simulating real-world attacks to uncover vulnerabilities missed by traditional security measures. By proactively addressing these weaknesses, penetration testing bolsters overall security, mitigating risks in today's intricate IT landscapes.
Restraint: Integration complexities
Integrating penetration testing tools and procedures into security workflows poses significant challenges for organizations. This struggle can lead to inefficiencies, making sharing results and tracking remediation efforts difficult. Seamless integration with the current security infrastructure is crucial for collaboration and streamlined operations. Investing in tools and processes designed for this integration is essential. These investments ensure penetration testing fits seamlessly with established security workflows, maximizing efficiency and effectiveness. Overcoming these integration hurdles enables organizations to detect and address vulnerabilities promptly, strengthening their overall security. This proactive approach minimizes cyber threats and fosters a culture of continuous improvement in cybersecurity practices. By navigating these challenges, organizations can optimize penetration testing efforts to combat evolving risks while maintaining operational efficiency.
Opportunity: Rising trends of PTaas (Penetration Testing as a Service)
Penetration Testing as a Service (PaaS) revolutionizes cybersecurity, especially for small businesses. Historically, the high cost, limited scope, and resource constraints of one-time engagements made penetration testing inaccessible. PTaaS introduces a subscription-based model, overcoming hurdles like data security protocols and complex workflows and making advanced security testing more reachable. By spreading costs over a subscription period, PTaaS becomes affordable for smaller budgets and offers scalability to adjust testing needs. It removes the need for in-house expertise, as service providers handle recruitment and management. Continuous monitoring and streamlined reporting provide ongoing security insights, enhancing its value for smaller businesses. Overall, PTaaS democratizes penetration testing, empowering organizations of all sizes to manage cybersecurity risks proactively and strengthen defenses against evolving threats.
Challenge: Shortfall of Skilled Professionals
One of the significant challenges facing organizations is the shortage of security analysts capable of conducting penetration tests, hindering their ability to address evolving cybersecurity threats. Despite hiring individuals to identify and analyze cyber threats, many must gain the skills to prevent attacks effectively. Penetration testing, a crucial defense measure, is often costly, and improper execution can lead to financial losses for service providers and client companies. Although the demand for professionals in this field has decreased, the shortage remains significant, exposing organizations to risks. To mitigate this gap, there's a pressing need for enhanced training programs to equip security professionals with the expertise needed to identify and analyze cyber threats effectively.
Penetration Testing Market Ecosystem
As digitalization accelerates and the importance of securing IoT devices grows, the penetration testing landscape is evolving. Niche practices like physical security, IoT, and embedded device testing are gaining traction. This shift is fueled by the need to address emerging threats effectively. Consequently, demand for penetration testing solutions and services is on the rise. Key players like Rapid7(US), Synopsys(US), BreachLock(US), and Raxis(US) offer comprehensive solutions covering various application areas, including networks, web and mobile apps, social engineering, and cloud platforms. These offerings reflect the industry's commitment to enhancing cybersecurity across diverse technological domains to safeguard against evolving cyber risks.
The services segment will experience the highest growth rate during the forecast period by offering.
The services segment is poised for accelerated growth, outpacing other market components. This surge is fueled by a combination of factors, including the rising complexity of cyber threats, stringent regulatory requirements, and the growing recognition among businesses of the critical importance of cybersecurity. As organizations strive to bolster their defense mechanisms and mitigate the risks posed by cyberattacks, they are increasingly turning to specialized penetration testing services to comprehensively assess the vulnerabilities in their systems and networks. Consequently, service providers are experiencing heightened demand for their expertise in identifying, prioritizing, and remedying security weaknesses, driving significant expansion in the penetration testing services segment.
Based on organization size, the large enterprises segment accounts for the largest market size in the penetration testing market.
The penetration testing market is expected to grow across all sectors, with large enterprises expected to maintain a significant share. Factors such as stringent compliance requirements like HIPAA and PCI DSS, heightened security needs, and more excellent budgetary resources drive large organizations to invest in external penetration testing services. Although SMEs show promising growth, their limited resources and lower security awareness contribute to the continued dominance of large enterprises. However, SMEs increasingly recognize cyber threats and seek cost-effective solutions, hinting at potential growth in this segment.
The Asia Pacific region is projected to exhibit the highest growth rate in the penetration testing market.
During the forecast period, this accelerated growth is attributed to various factors, including swift digitization across industries, escalating cyber threats, and an increased focus on cybersecurity measures. The Asia Pacific region is set to lead the growth in penetration testing due to rapid digitalization, rising cyber threats, and evolving data privacy regulations—SMEs' increasing awareness of data protection and government initiatives promoting cybersecurity further fuel this growth. Despite challenges like cybersecurity awareness and skilled workforce shortages, Asia Pacific's maturing technology landscape and focus on cloud-based solutions drive exceptional market growth.
Key Market Players:
The major players in the penetration testing market are Rapid7(US), Secureworks(US), Synopsys(US), Crowdstrike(US), IBM(US), Coalfire Labs(US), Indium Software(US), Cigniti Technologies(US), Trustwave(US), Cisco Systems(US), Fortinet(US), Bugcrowd(US), Invicti(US), Hackerone(US), Raxis(US), Rsi Security(US), Rhino Security Labs(US), Sciencesoft(US), Portswigger(US), Netraguard(US), Software Secured(Canada), Vumentric Cybersecurity(Canada), Netitude(UK), Zimperium(US), Nowsecure(US), Security Metrics(US), NetSpi(US), Covertswarm(UK), Holm Security(Sweden), Intruder Systems(UK), Breachlock(US), Isecurion(India), Redbot Security(US).
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| Report Metrics |
Details |
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Market size available for years |
2019-2029 |
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Base year considered |
2023 |
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Forecast period |
2024-2029 |
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Forecast units |
Value (USD) Million/Billion |
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Segments Covered |
By offering, type, deployment mode, organization size, type, vertical and region |
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Region covered |
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America |
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Companies covered |
Rapid7(US), Secureworks(US), Synopsys(US), Crowdstrike(US), IBM(US), Coalfire Labs(US), Indium Software(US), Cigniti Technologies(US), Trustwave(US), Cisco Systems(US), Fortinet(US), Bugcrowd(US), Invicti(US), Hackerone(US),Raxis(US), Rsi Security(US), Rhino Security Labs(US), Sciencesoft(US), Portswigger(US), Netraguard(US), Software Secured(Canada), Vumentric Cybersecurity(Canada), Netitude(UK), Zimperium(US), Nowsecure(US), Security Metrics(US), NetSpi(US), Covertswarm(UK), Holm Security(Sweden), Intruder Systems(UK), Breachlock(US), Isecurion(India), Redbot Security(US). |
This research report categorizes the penetration testing market to forecast revenues and analyze trends in each of the following submarkets:
Based on the offering:
- Solutions
- Services
Based on Deployment mode:
- Cloud
- On-premises
Based on Organization size:
- Large enterprises
- SMES
Based on type:
- Web applications
- Mobile Applications
- Network Infrastructure
- Cloud
- Social Engineering
Based on the vertical:
- BFSI
- Healthcare
- IT & ITeS
- Telecommunication
- Retail and eCommerce
- Manufacturing
- Education
- Other verticals
Based on the region:
-
North America
- US
- Canada
-
Europe
- UK
- Germany
- France
- Rest of Europe
-
Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
-
Middle East and Africa
- Middle East
- Africa
-
Latin America
- Brazil
- Mexico
- Rest of Latin America
Recent Developments
- Oct 2023 - Rapid7's recent acquisition of Penumbra Security bolsters its security offerings by integrating Penumbra's Breach and Attack Simulation (BAS) platform. This strategic move enhances Rapid7's penetration testing capabilities by amalgamating traditional vulnerability assessments with real-world attack simulations. By leveraging Penumbra's BAS platform, Rapid7 aims to provide customers with a more holistic and proactive approach to cybersecurity, enabling them to identify and address potential vulnerabilities more effectively while simulating realistic attack scenarios to fortify their defenses.
- Sep 2023 – Tenable has unveiled a pioneering cloud-native penetration testing solution tailored for cloud environments, marking a significant advancement in cybersecurity. This innovative platform responds to the escalating need to fortify cloud infrastructure against evolving cyber threats. Tenable's solution offers organizations comprehensive protection and peace of mind by focusing on cloud-specific security challenges. With the increasing migration to cloud computing, this initiative underscores Tenable's commitment to providing cutting-edge cybersecurity solutions that effectively safeguard digital assets in today's dynamic threat landscape.
- Aug 2023 - The International Organization for Standardization (ISO) has released the latest iteration of its Penetration Testing Standard (ISO/IEC 29119:2023), offering a structured framework for conducting penetration testing exercises. This comprehensive standard sets guidelines and best practices, promoting consistency and efficiency across the industry. Organizations can ensure thorough assessments of their security posture by providing a clear roadmap for penetration testing engagements. ISO's initiative underscores the importance of standardized approaches in enhancing cybersecurity and mitigating risks in an increasingly interconnected digital landscape.
- Jul 2023 - The US Department of Homeland Security (DHS) has unveiled its latest Cybersecurity Strategy, highlighting the critical role of proactive measures such as penetration testing in strengthening the nation's cybersecurity posture. Emphasizing prevention over reaction, the strategy underscores the significance of identifying and addressing vulnerabilities before malicious actors can exploit them. The DHS aims to enhance resilience against cyber threats by prioritizing proactive approaches like penetration testing and safeguarding vital national infrastructure and assets from potential attacks.
- Jun 2023 - The European Union Agency for Cybersecurity (ENISA) has issued a report focusing on penetration testing in cloud environments, shedding light on the increasing demand for methodologies explicitly tailored to cloud infrastructure. Stressing the significance of embedding security measures throughout the software development lifecycle, the report underscores the necessity for proactive approaches to address evolving cyber threats effectively. ENISA aims to promote a comprehensive security framework that safeguards cloud-based systems against potential vulnerabilities by highlighting the importance of cloud-specific penetration testing methodologies.
Frequently Asked Questions (FAQ):
What is Penetration Testing?
Penetration testing, also referred to as pen testing or ethical hacking, simulates cyberattacks on computer systems, networks, or applications to pinpoint vulnerabilities. It's akin to hiring a professional burglar to test your home security system, aiming to improve defenses without causing harm. Authorized by system owners, pen testers operate within ethical guidelines, employing various methods like social engineering and malware deployment to simulate real-world attacks. The process culminates in a detailed report outlining identified vulnerabilities and recommended fixes, helping organizations bolster their security posture, comply with regulations, and mitigate data breach risks through proactive measures.
What is the market size of the penetration testing market?
The global penetration testing market is estimated to be worth USD 1.7 billion in 2024 and is projected to reach USD 3.9 billion by 2029 at a CAGR of 17.1 % during the forecast period.
What are the major drivers in the penetration testing market?
The major drivers in the penetration testing market are witnessing significant growth due to various factors. Evolving cyber threats prompt organizations to seek proactive measures like penetration testing to identify vulnerabilities. Stringent regulations globally mandate security assessments, boosting demand. Businesses' increasing reliance on technology necessitates robust security, fueling market growth. Cost-effective solutions and a need for more skilled professionals further drive adoption. Cloud-specific testing and integration of advanced technologies are additional drivers. These factors collectively ensure the market's sustained growth amid evolving cybersecurity challenges.
Who are the major players operating in the penetration testing market?
The major players in the penetration testing market are Rapid7(US), Secureworks(US), Synopsys(US), Crowdstrike(US), IBM(US), Coalfire Labs(US), Indium Software(US), Cigniti Technologies(US), Trustwave(US), Cisco Systems(US), Fortinet(US), Bugcrowd(US), Invicti(US), Hackerone(US),Raxis(US), Rsi Security(US), Rhino Security Labs(US), Sciencesoft(US), Portswigger(US), Netraguard(US), Software Secured(Canada), Vumentric Cybersecurity(Canada), Netitude(UK), Zimperium(US), Nowsecure(US), Security Metrics(US), NetSpi(US), Covertswarm(UK), Holm Security(Sweden), Intruder Systems(UK), Breachlock(US), Isecurion(India), Redbot Security(US).
Which key technology trends prevail in the penetration testing market?
Several key technology trends shape the penetration testing market landscape, adapting to combat evolving cyber threats and technological complexities. Trends include AI and ML for accurate vulnerability scanning, cloud solutions for streamlined workflows, and automation for efficient testing. Focus on specialized and compliance-driven solutions that address industry needs. Emerging attack vectors highlight the importance of proactive threat detection. While technology enhances efficiency and accessibility, human expertise and data security remain crucial. Overall, these advancements strengthen penetration testing's effectiveness in countering cyber threats and ensuring robust security measures. .
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The research study involved significant activities in estimating the penetration testing market size. Exhaustive secondary research utilized various secondary sources about the market and peer markets. To gather information for analyzing the penetration testing market. The next step has been to validate these findings and assumptions and size them with the help of primary research with industry experts across the value chain. Primary sources included interviews with industry experts, suppliers, manufacturers, and other stakeholders across the market's value chain. These interviews with key industry figures and subject matter experts aimed to gather qualitative and quantitative data, ensuring accuracy and reliability in assessing market trends and prospects. Both top-down and bottom-up approaches have been used to estimate the market size. Post which the market breakdown and data triangulation have been adopted to estimate the market sizes of segments and sub-segments.
Secondary Research
In the secondary research process, various secondary sources were referred to identify and collect information for the study. These included journals, annual reports, press releases, investor presentations of companies and white papers, certified publications, and articles from recognized associations and government publishing sources. Secondary research was mainly used to obtain critical information about industry insights, the market's monetary chain, the overall pool of key players, market classification, and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from both market and technology-oriented perspectives.
Primary Research
In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for the report. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Chief Technology Officers (CTOs), Chief Operating Officers (COOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various companies and organizations operating in the penetration testing market. The primary sources from the demand side included consultants/specialists, Chief Information Officers (CIOs), and subject-matter experts.
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Market Size Estimation
Multiple approaches were adopted to estimate and forecast the penetration testing market. The first approach involved estimating the market size by summating companies' revenue generated through penetration testing solutions.
Both top-down and bottom-up approaches were used to estimate and validate the total size of the penetration testing market. The research methodology used to estimate the market size includes the following:
- Key players in the penetration testing were identified through secondary research, and their revenue contributions in the respective regions were determined through primary and secondary research
- Regarding value, primary and secondary research have determined the industry's supply chain and market size.
- All percentage shares, splits, and breakups have been determined using secondary sources and verified through primary sources.
All the possible parameters that impact the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets.
Market Size Estimation Methodology-Bottom-up approach
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Market Size Estimation Methodology-top-down approach
Data Triangulation
The data triangulation procedures were used to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with data triangulation and market breakdown, the market size was validated by the top-down and bottom-up approaches.
Market Definition
The penetration testing market is experiencing exponential growth, catering to businesses seeking robust defenses against cyber threats. This sector offers multifaceted solutions encompassing vulnerability detection and social media surveillance to preemptively detect references to a company or its brand, thereby averting potential reputational damage and security breaches. Additionally, these services extend to identifying and eliminating instances of unauthorized replication of a company's intellectual property, safeguarding its innovations and assets. Moreover, in the event of security incidents, these platforms facilitate swift and effective response strategies, mitigating the impact of breaches and enhancing overall cybersecurity posture. The penetration testing market presents a comprehensive suite of tools and services essential for modern enterprises to proactively combat the evolving landscape of cyber threats.
Key Stakeholders
- Government bodies and public safety agencies
- Project managers
- Developers
- Business analysts
- Quality Assurance (QA)/test engineers
- Providers of penetration testing solutions and services
- Consulting firms
- Third-party vendors
- Investors and venture capitalists
- Technology providers
The main objectives of this study are as follows:
- To describe and forecast the global penetration testing market by offering, type, deployment mode, organization size, vertical, and region
- To forecast the market size of five central regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
- To analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall market
- To provide detailed information related to significant factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
- To analyze the opportunities in the market for stakeholders and provide the competitive landscape details of major players
- To profile the key players of the market and comprehensively analyze their market shares and core competencies
- To track and analyze competitive developments, such as Mergers and Acquisitions (M&A), new product developments, and partnerships and collaborations in the market
- To track and analyze the impact of COVID-19 on the penetration testing market
Available Customizations
With the given market data, MarketsandMarkets offers customizations per the company's specific needs. The following customization options are available for the report:
Company Information
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Growth opportunities and latent adjacency in Penetration Testing Market