Press Release / Technology / Penetration Testing Market Research Report by Forecast to 2023

Penetration Testing Market Research Report by Forecast to 2023

Penetration Testing Market Highlights:
Penetration test, also referred to as pen test, is a virtual cyber-attack launched against the computer system to check for probable flaws existing within the system. When integrated with web application security, penetration testing helps in augmenting the web application firewall (WAF). The global penetration testing market is anticipated to generate revenue of approximately USD 2.8 billion by 2023. The market is estimated to develop at 26% CAGR during the forecast period 2017-2023. Pen testing can deal with attempted breaching of several application systems, for instance frontend/backend servers and application protocol interfaces (APIs), to expose risks that are prone to code injection attacks.
The outcomes obtained from penetration test can find application in fine tuning the WAF security policies coupled with patch detected vulnerabilities. Penetration Testing Market is best carried out by contractors hired from external agencies who are typically known as ‘ethical hackers.’ They are hired to test the flaws and loopholes present in a system which they are not familiar with. The ethical hackers are provided with the access to the system and are permitted to enter it for the time being to detect the pitfalls, if any.
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Major Key Players:
Global penetration testing market is dominated by key players such as Redteam Security Consulting (U.S.), Core Security SDI Corporation (U.S.), Rapid7, Inc. (U.S.), Context Information Security (U.S.), Veracode (U.S.), Qualys, Inc. (U.S.), Acunetix (Malta), Hewlett Packard Enterprise (U.S.), Trustwave Holdings, Inc. (U.S.), Cigital Inc. (U.S.), WhiteHat Security (U.S.), Checkmarx (Israel), and IBM Corporation (U.S.).
Market Segmentation:
The penetration testing market is segmented based on component, type, end-user, organization size, and deployment. Based on component, the penetration testing market is sub-segmented as testing solutions and services solutions. The services solutions segment is sub-segmented into managed services and professional services.
The professional services segment is sub-segmented into implementing services, consulting services, training services, and integrating services. The testing solutions are segmented as web application penetration testing, wireless penetration testing, network penetration testing, social engineering, mobile application penetration testing, and others.
Based on type, the market is segmented into blind testing, external testing, double blind testing, and internal testing. Based on end-user, the market is segmented into BFSI, IT & telecom, energy & power, manufacturing, media & entertainment, healthcare, and others. Based on organization size, the market is segmented into small & medium enterprise and large enterprise. Based on deployment, the market is segmented into on-premises and on-cloud.
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Regional Analysis:
As per the research reports published by Market Research Future, the penetration testing market is geographically segmented into four key markets namely Europe, Asia Pacific, North America, and the Rest of the World. North America is likely to dominate the global penetration testing market owing to presence of large number of industries and IT giants in the region. Canada and the United States are ruling the North America market.
The IT giants present in the North America market are extremely sensitive about safeguarding the data they deal in and protecting the credentials of their client. Asia Pacific is estimated to hold a substantial share of the penetration testing market. It is regarded as one of the rapidly developing markets for penetration testing, during the forecast period. Increasing instances of urbanization and industrialization in the emerging economies of China and India are considered as significant factors for driving growth of the penetration testing market.
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