Penetration Testing Market Overview
The global market report on the penetration testing market has a chance to grow past valuation of USD 2.8 billion during the forecast period of 2018 to 2023, with a CAGR of 26%. Market Research Future (MRFR) claimed that factors like demand for measuring and testing the security level are getting fuel, which in turn can inspire the penetration testing market growth. Recent cyber attacks on web applications have provided a further tailwind to the market. Internet penetration is also a major growth-inducer for the market.
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Penetration Testing Market Segmentation:
The penetration testing market, as discussed by MRFR analysts, has been segmented in the report on the basis of component, organization size, deployment, type, and end-user. Data from these segments can help in proper know-how of the market and assist in developing strategies.
By component, the penetration testing market has been segmented into services and testing solutions. The services segment includes a study of professional services and managed services. The professional services encompass a discussion of implementing integrating services, consulting services, and training services. The testing solutions include a proper understanding of web application penetration testing, network penetration testing, social engineering, wireless penetration testing, mobile application penetration testing, and others.
By organization type, the report on the penetration testing market has been segmented into large enterprise and small medium enterprises.
By type, the study on the penetration testing market includes proper knowledge of blind testing, internal testing, external testing, and double-blind testing.
By deployment, the report on the penetration testing market includes on-cloud and on-premises. The on-cloud segment would get substantial acknowledgment as its cost-affordability and easy access are providing ample opportunity to register better growth.
By end-user, the penetration testing market includes a discussion of BFSI, manufacturing, IT telecom, healthcare, media entertainment, energy power, and others. The IT telecom industry is going to benefit in remarkable ways from this market.
Penetration Testing Market Regional Analysis
North America and Europe are two structurally-advanced regions where the constant influx of investment for funding of research and high capacity of people to invest in such practices are expected to bolster the market growth. In Asia Pacific, the market is percolating at great speed, using the burgeoning nature of industries as tailwinds.
Penetration Testing Market Competitive Landscape
The global market report comprising details of the penetration testing market includes coverage of latest strategic moves implemented by companies like Redteam Security Consulting (U.S.), Core Security SDI Corporation (U.S.), Qualys, Inc. (U.S.), Context Information Security (U.S.), Rapid7, Inc. (U.S.), Acunetix (Malta), Hewlett Packard Enterprise (U.S.), Veracode (U.S.), Trustwave Holdings, Inc. (U.S.), Cigital Inc. (U.S.), WhiteHat Security (U.S.), IBM Corporation (U.S.), and Checkmarx (Israel).
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In September 2020, Pcysys Ltd., a penetration testing platform startup, revealed that it has raised $25 million in new funding with an aim to expand sales and delivery teams and also inspire the development of its technology. This Series B round saw the movement getting led by Insight Partners and it had existing investors Awz Ventures and the Blackstone Group. Pcysys is an acronym for “proactive cyber systems”, which offers an automated penetration testing platform that has been designed to assess and reduce cybersecurity risks. This is already known as Pentesting and it involves testing information technology networks using a series of simulated attacks to find out various vulnerabilities.
During the COVID-19 crisis, a lot of companies opted for various digital applications and developed technologies to counter the imminent crisis. This could transform the intake pattern of the penetration testing market.