Westford USA, Nov. 15, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Penetration Testing market will attain a value of USD 2.29 billion by 2031, with a CAGR of 17.12% over the forecast period (2024-2031). Increasing emphasis on detecting weaknesses in security systems and solutions is projected to primarily drive the demand for penetration testing over the coming years. Growing availability of penetration testing as a service (PTaaS) is also expected to bolster penetration testing market development across the study period and beyond.
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Browse in-depth TOC on “Penetration Testing Market”
- Pages – 196
- Tables – 90
- Figures – 71
Penetration Testing Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 1.7 billion |
| Estimated Value by 2031 | $ 2.29 billion |
| Growth Rate | Poised to grow at a CAGR of 17.12% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Offering, Testing Type, Industry Vertical, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Integration of artificial intelligence and demand for automated vulnerability testing |
| Key Market Drivers | Emphasis on security weakness identification |
Penetration Testing Solutions Projected to Bring in Major Revenue for Market Players
Penetration testing solutions help improve the capability of security systems by identifying potential weaknesses and vulnerabilities that could compromise security. Increasing complexity of cyberattacks and threats is also projected to bolster the demand for better security testing solutions thereby helping this segment hold a dominant market share.
Rising Adoption of Cloud Technologies Promotes Cloud Penetration Testing Demand at a Rapid Pace
Cloud technologies have become increasingly popular in recent years and this can be attributed to their high affordability, scalability, and flexibility. Growing emphasis on securing cloud platforms and technologies and increasing incidence of cyberattacks emerging from cloud platforms are also expected to help this segment boost market growth at a robust CAGR over the coming years.
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Presence of Stringent Data Privacy Frameworks in North America Helping Lead Global Penetration Testing Demand
North America is known for its strict data privacy and security regulations, which necessitate the use of advanced security and security testing solutions thereby dominating the demand for penetration testing on a global level. Growing awareness regarding benefits of penetration testing and growing investments in the development of novel security testing solutions are also expected to create new opportunities for penetration testing companies. The United States is forecasted to be the leading market for penetration testing providers in this region.
Penetration Testing Market Insights:
Drivers
- Growing emphasis on addressing weakness and lapses in security systems
- Implementation of stringent regulations for data privacy and security
- Use of penetration testing for evaluation of security of remote employees
Restraints
- Complexities in integration with legacy systems
- Lack of experience professionals to manage perform penetration testing
Prominent Players in Penetration Testing Market
- Rapid7(US)
- Secureworks(US)
- Synopsys(US)
- Crowdstrike(US)
- IBM(US)
- Coalfire Labs(US)
- Indium Software(US)
- Cigniti Technologies(US)
- Trustwave(US)
- Cisco Systems(US)
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Key Questions Answered in Penetration Testing Market Report
- What drives the global Penetration Testing market growth?
- Who are the leading Penetration Testing providers in the world?
- Which region leads the demand for Penetration Testing in the world?
This report provides the following insights:
- Analysis of key drivers (growing demand for better security testing, imposition of stringent data privacy and safety mandates, use of penetration testing for evaluation of penetration testing security), restraints (complexity in integration, absence of skilled workforce to manage penetration testing), and opportunities (use of artificial intelligence to improve penetration testing capabilities, demand for automated vulnerability testing), influencing the growth of Penetration Testing market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Penetration Testing market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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Skyquest Technology
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