In a recent published report, Kenneth Research has updated the market report for Penetration Testing Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Penetration Testing Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Product Overview
Penetration testing is used to check the vulnerabilities of the computer in order to determine the unauthorized access or other malicious activity in the computer. It applies the regular framework for measuring testing of the security procedures. It may involve the breaching of the numerous number of the application systems in order to expose the weaknesses involved in the system framework. The two major penetration testing methods involved in the penetration testing are static analysis tools and dynamic analysis tools.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Market Size and Forecast
The global penetration testing market is anticipated to increase at a CAGR around 14.2% during 2018-2027. It is anticipated to reach around USD 2.6 billion by 2027. The increasing penetration of the internet across the globe coupled with the increasing the cyber-attacks across the globe is anticipated to increase the market growth of the global penetration testing market during the forecast period.
The global penetration testing market can be segmented on the basis of deployment, services, organization type, end-user and region. On the basis of deployment, it is sub-segmented into on-cloud and on-premises. On cloud deployment services is anticipated to register highest growth during the forecast period. The various end-user industries are saving the important data from cyber-attacks on the account of the cost-effective and time-efficient features of the cloud. On the basis of services, it is sub-segmented into professional services and managed services.
On the basis of organization, it is sub-segmented into small enterprise, medium enterprise and large enterprise. The large scale enterprises are anticipated to lead the organization segment during the forecast period. The large scale enterprise has large business framework hence requires secure data in large quantity. The increasing application of the penetration testing in the large industries is anticipated to boost the growth of the sub-segment during the forecast period. On the basis of end-user, it is sub-segmented into IT & telecom, BFSI, manufacturing, energy & power, healthcare, media & entertainment and others. The IT& telecom sub-segment is anticipated to register highest CAGR during the forecast period. The increasing application of the internet in IT industry is anticipated to increase the penetration of the hackers.
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By region, global penetration testing market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to hold the largest market share for the global penetration testing market during the forecast period. The highly developed IT industry in the region leads to increase in the investment of the software testing which in turn is anticipated to boost the growth of the global penetration testing market during the forecast period.
Additionally, the presence of some of the key players in the region such as Hewlett Packard Enterprise and IBM Corporation is also driving the growth of the global penetration testing market. Asia-Pacific region is anticipated to be the fastest developing region for the global penetration testing market. The increasing development of the IT and retail industry in the region leads to increasing use of the mobile-based and web-based business applications. This in turn is anticipated to boost the growth of the global penetration testing market in the region.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Key Players
Context Information Security
Core Security SDI Corporation
Redteam Security Consulting
Qualys, Inc.
Rapid7, Inc.
Hewlett Packard Enterprise
Veracode
Trustwave Holdings, Inc.
Acunetix
Cigital Inc.
IBM Corporation
Checkmarx
WhiteHat Security
Market Segmentation
Our in-depth analysis segmented the global penetration testing market in the following segments:
By Deployment:
On-cloud
On-premises
By Services:
Professional services
Managed services
By Organization Type:
Small enterprise
Medium enterprise
Large enterprise
By End-User:
IT & telecom
BFSI
Manufacturing
Energy & power
Healthcare
Media & entertainment
Others
Penetration Testing Market Graph
By Region
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