Penetration Testing Industry: Global Market Size, Growth, Trends and 2025 Forecast Report


Posted January 2, 2020 by ganpan

Global Penetration Testing Market - Segment Analysis, Opportunity Assessment, Competitive Intelligence and Industry Outlook, 2016-2023

 
Market Insights

The penetration testing market is estimated to reach 3.2 bn by 2023, growing with a 27% CAGR during the forecast period. The market is witnessing growth due to the increasing need for protection from cyber-attacks, an increase in the number of mobile applications and users, rising requirement to meet compliance standards, and growing disposable income. Penetration testing is primarily known as pen-testing and it is a process of testing and enhancing the present security procedures to identify security vulnerabilities that an attacker could exploit.

Get Sample Copy of Penetration Testing Market: https://www.alltheresearch.com/sample-request/103

The process of the pen-test ensures that the system can gain access to resources without the prior-knowledge of identification media like usernames, passwords, and other normal ways of access. Moreover, the growing demand for securing web applications to prevent cyber-attacks and the rising penetration of the internet are the key factors that are propelling the market growth during the forecast period.

Key Regulations:
Australia: Mandatory to report data breaches
A law passed in February 2017 by the government of Australia makes it mandatory for organizations to report data breaches. The law also directs organisations to have response strategies in place, in case of data breach incidents.
Japan: Cyber security basic act
In January 2015, the cyber security basic act was passed to broadly plan roles and responsibilities of the government in providing data security. This act further encourages infrastructure providers, and educational and research institutions to implement appropriate security measures to protect their critical data from security threats.
UAE: Implementation of cyber security laws
Laws in UAE have penalised any act that results in suspending, disabling, or destroying a network, causing a partial or complete loss of data. The law also has provisions to penalise anyone who is convicted of obstructing access to computer networks or of using their knowledge of cyber technologies for any sort of criminal activity.
Singapore: Computer misuse and cyber security act
In April 2017, Singapore made changes to its computer misuse and cyber security act to criminalise the act of using and trading data with a criminal intent.

Market Dynamics

The penetration testing market is witnessing growth due to the increasing need for protecting enterprise applications and the large amount of data, which are emerging application layer attacks. Many enterprises are still adopting web and mobile applications that contain vulnerabilities and if exploited or hacked, these will result in huge losses for organizations across the globe. Enterprises are expected to increase their security spending in the coming years to ensure robust security for their IT infrastructure. The increasing need to meet compliance requirements and the rising adoption of cloud-based solutions and services, are other major factors that are driving the adoption of penetration testing market during the forecast years.
The increasing need to protect data from various cyber-attacks and the rising number of mobile users and applications, are further accelerating the growth of the penetration testing market. However, the high cost, lack of awareness, risks associated with cyber-attacks, and limits and complexity associated with penetration testing, may hamper the growth of the market in the coming years. The penetration testing market is increasing over the years, owing to rising security needs of the Internet of Things (IoT) and Bring Your Own Device (BYOD) trends, and increased deployment of web & cloud-based business applications across the globe.

Competitive Intelligence

The key players operating in the penetration testing market include Rapid7, Inc., Core Security SDI Corporation, Checkmarx, Context Information Security, Qualys, Inc., Veracode, Trustwave Holdings, Inc., IBM Corporation,Cigital Inc., Redteam Security Consulting, WhiteHat Security, Acunetix, and Hewlett Packard Enterprise, among others. Vendors have adopted various types of organic and inorganic growth strategies such as new product launches, partnerships & collaborations, and mergers & acquisitions, in order to expand their offerings in the penetration testing market.

Get Connect with our Analyst: https://www.alltheresearch.com/speak-to-analyst/103

Key Questions answered
What are the key drivers, restraints, opportunities, and challenges in the market and how are they expected to impact the market?
What are the microeconomic and macroeconomic factors impacting the overall growth of the market?
Who are the key market players and their key competitors?
Who are the key market players at different stages of the value chain?
What are the recent trends in the market? (M&A, partnerships, new product developments, expansions)

About AlltheResearch:
AllTheResearch was formed with the aim of making market research a significant tool for managing breakthroughs in the industry. As a leading market research provider, the firm empowers its global clients with business-critical research solutions. The outcome of our study of numerous companies that rely on market research and consulting data for their decision-making made us realise, that its not just sheer data-points, but the right analysis that creates a difference.

For all your Research needs, reach out to us at:
Email: [email protected]
Phone: 1-888-691-6870
Address: 39180 Liberty Street Suite 110, Fremont, CA 94538, USA.
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Research
Country United States
Categories Education , Finance , Free
Tags Penetration Testing
Last Updated January 2, 2020