Penetration Testing Market Challenges, Size, Growth, Key Vendors, Drivers and Trends by Forecast to 2027 | Impact of COVID-19

 Market Highlights:

Penetration testing which is popularly known as pen-testing is a framework for measuring, testing and improving the current security procedures on information systems and supporting applications. The process of pen-test works in such a way that system can gain access to resources without prior-knowledge of identification media such as usernames, passwords and other normal ways of access.

The surge in demand for secured the web applications to prevent against cyber-attacks and increase in internet penetration are some of the major driving factors for the growth of penetration testing market over the forecast period.

The 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.

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Key Players

Some of the key players of penetration testing market are Core Security SDI Corporation (U.S.), Redteam Security Consulting (U.S.), Context Information Security (U.S.), and Rapid7, Inc. (U.S.). Qualys, Inc. (U.S.), Veracode (U.S.), Trustwave Holdings, Inc. (U.S.), Acunetix (Malta), Hewlett Packard Enterprise (U.S.), IBM Corporation (U.S.), Cigital Inc. (U.S.), and WhiteHat Security (U.S.), and Checkmarx (Israel) are among others.

Segments

The Penetration Testing Market is differentiated by type, component, deployment, organization size, and end-user.

By component, the penetration testing market is sub-segmented as services and testing solutions. By services, the market is sub-segmented into professional services and managed services. The professional services are further segregated into consulting services, implementing & integrating services, and training services. The testing solutions are segregated as network penetration testing, web application penetration testing, mobile application penetration testing, social engineering, wireless penetration testing, and others.

By organization type, the market is segregated into large enterprise and small & medium enterprise.

Additionally, by type, the market is classified external testing, blind testing, internal testing, and double blind testing.

Furthermore, on the basis of deployment, the market is sub-divided into on-cloud and on-premises. Additionally, on the basis of organization size, the market is classified as small and medium enterprises and large enterprises.

By end-user, the market is sub-divided into IT & telecom, BFSI, manufacturing, energy & power, healthcare, media & entertainment, and others.

Regional Analysis

Geographically, the penetration testing market is categorized into four different regions, namely North America, Asia Pacific, Europe, and the Rest of the World.

North America penetration testing market is expected to have significant growth over the forecast period. U.S. and Canada are leading countries in the region owing to the presence of IT giants, such as IBM Corporation, and Oracle Corporation. Asia Pacific region is expected to be the fastest growing region in penetration testing market. China, India, Japan, and South Korea are the leading countries in the region. This is due to an increase in the number of small and medium enterprises in IT sector. Additionally, India is expected to be the fastest growing country in the Asia Pacific region owing to, government initiatives to boost the startups involved in IT sector.

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