Penetration Testing Market Value By Testing Type (Social Engineering Tests, Network Penetration Testing, Cloud Penetration Testing, Application Penetration Testing, Others), By Component (Solution, Services), By Deployment (Cloud, On-premise), By Region - Industry Statistics & Forecast, 2023 - 2032

Market Overview:
Penetration Testing Market size surpassed USD 1.35 Billion in 2022 and is expected to showcase a CAGR of over 12.9% from 2023 to 2032. By the end of the forecast period, the industry is anticipated to reach a valuation of around USD 3.6 Billion.

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Penetration testing, also known as pen testing or ethical hacking, is a method of testing the security of a computer system, network, or web application by simulating an attack by a malicious actor. The objective of penetration testing is to identify vulnerabilities in the system, such as weak passwords, unsecured ports, outdated software, and misconfigurations, and provide recommendations to address them before an actual attack occurs. Penetration testing is a crucial aspect of cybersecurity, as it helps organizations identify potential security gaps in their systems and prevent cyber-attacks that could result in data breaches, financial losses, and reputational damage. By conducting a penetration test, organizations can evaluate their overall security posture, determine the effectiveness of their security controls, and assess the ability of their security team to detect and respond to a real attack.

The Penetration Testing market is being driven by several factors, including the increasing frequency and sophistication of cyber-attacks, the implementation of data privacy regulations, the adoption of cloud computing, the growth of mobile and IoT devices, and the need for comprehensive security solutions that cover all aspects of IT infrastructure. As a result, organizations are becoming more aware of the importance of identifying vulnerabilities in their systems and preventing potential cyber-attacks, leading to a growing demand for Penetration Testing services.

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By Deployment Synopsys:

The on-premise segment held approximately 60% of the revenue share in 2022. The on-premises deployment model gives organizations control and flexibility. On-premises mode is primarily used by large organizations because large enterprises in various verticals are highly regulated and contain more sensitive information than SMEs, necessitating greater data control. These requirements are slated to drive the deployment of penetration testing software and services on-premises. Corporate data can now be easily accessed from mobile devices, which has increased the volume of data transfer among business parties while also increasing the risk of cyber-attacks and data loss. To reduce risks, organizations use the on-premises deployment model for their corporate data.

By Component Synopsys:

The penetration testing market is divided into solution and services offerings, with the latter involving a pen testing professional who closely examines the system and provides proof of concept for each finding, along with a possible remediation plan. The segments growth is being driven by outsourcing trends, globalization, and the need for compliance and value-added services. 

Furthermore, expert testing increases the efficiency of penetration testing by reducing false positives, allowing organizations to focus on improving their overall security infrastructure. Therefore, the services segment is expected to have the highest CAGR during the forecast period.

Regional Overview:

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North America is the largest market for penetration testing due to the presence of large technology companies, high awareness of cybersecurity, and strict regulations. The United States is the dominant market, accounting for the majority of the market share in the region. Furthermore, Asia Pacific is the fastest-growing market for penetration testing, owing to the increasing adoption of technology, rising cyber threats, and the proliferation of regulations. Countries such as China, India, Japan, and South Korea are the key markets in the region.

Key Development:

• In June 2022, Synopsys purchased Whitehat Security. Synopsys gains significant SaaS capabilities as well as market-leading Dynamic Application Security Testing (DAST) technologies with the addition of WhiteHat security, further strengthening one of the industry's most comprehensive application security testing portfolios.
   
• In May 2022 Cisco Inc. has unveiled a cybersecurity assessment device / tool to help Asia Pacific small and medium-sized businesses better understand their security posture.

Top companies includes in the global penetration testing landscape:

• Cigniti Technology Ltd
• Synopsys
• Breachlock Inc
• Bugcrowd
• Cisco Systems
• Isecurion
• Netragard
• CovertSwarm
• NetSPI LLC
• Nowsecure
• PortSwigger 
• SecurityMetrics
• TrustWave Holdings, 
• Vumetric Cybersecurity
• Rebot Security
• Astra Security
• Vairav Technology
• Other Players

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In-depth analysis of penetration testing market along with industry coverage and forecasting for the following segments:

Market Size, By Testing Type

• Social Engineering Tests
• Network Penetration Testing
• Cloud Penetration Testing
• Application Penetration Testing
• Others

Market Size, By Component

• Solution
• Services

Market Size, By Deployment

• Cloud
• On-premise

Market Size, By End-use Industry

• BFSI
• Manufacturing
• Healthcare
• Government and Defense
• Energy and Utilities
• Retail and E-commerce
• IT and Telecom
• Others

Market Size, By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America