Penetration Testing Market by Testing Service, Deployment Mode, Organization Size, Vertical, and Region – Global Forecast to 2021

“Penetration Testing Market by Testing Service (Network, Web, Mobile, Social Engineering, Wireless, Embedded Devices and Industrial Control System), Deployment Mode (Cloud and On-Premises), Organization Size, Vertical, and Region – Global Forecast to 2021”
[144 Pages Report] The penetration testing market size is estimated to grow from USD 594.7 million in 2016 to USD 1,724.3 million by 2021, at a Compound Annual Growth Rate (CAGR) of 23.7% during the forecast period. 2015 is considered to be the base year while the forecast period is 2016–2021.

The penetration testing market is gaining traction due to the increasing need to protect enterprise applications and data from emerging application layer attacks. Many enterprises across the globe still use web and mobile applications that contain vulnerabilities, which if exploited, might result in huge losses for the organizations. Enterprises are expected to increase their security spending in the upcoming years to ensure robust security for their IT infrastructure. The objective of the report is to define, describe, and forecast the market on the basis of testing services, deployment modes, organization sizes, industry verticals, and regions and also to provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
The research methodology used to estimate and forecast the penetration testing market begins with capturing data on key vendor’s revenues through secondary sources such as company financials, journals, press releases, paid databases, annual reports, and others. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments.
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The penetration testing ecosystem comprises penetration testing vendors, such as Hewlett Packard Enterprise (U.S.), IBM Corporation (U.S.), Rapid7, Inc. (U.S.), Qualys, Inc. (U.S.), Veracode (U.S.), Trustwave Holdings, Inc. (U.S.), Acunetix (Malta), Cigital, Inc. (U.S.), WhiteHat Security (U.S.), and Checkmarx (Israel); service providers; system integrators; and enterprises. Other stakeholders of the penetration testing market include security service providers, consulting service providers, IT service providers, resellers, enterprise users, and technology providers.
The target audiences of the penetration testing market report are given below:
• Penetration testing tool providers
• Penetration testing service providers
• Network solution providers
• Network administrators
• Application developers
• System integrators
• Resellers
• Managed service providers
• Cyber security consulting firms
“The study answers several questions for the stakeholders; primarily, which market segments to focus in the next two to five years for prioritizing the efforts and investments.”
The penetration testing market is segmented by testing service, deployment mode, organization size, vertical, and region. The wireless penetration testing segment is expected to grow at the highest CAGR during the forecast period; wireless penetration testing in the testing services is projected to witness the highest demand due to the increased wireless networks and devices connected with it being susceptible to vulnerabilities and threats.
The penetration testing market faces challenges such as high cost and complexity. Moreover, factors such as lack of awareness about risks associated with cyber-attacks limit the market growth.
Major vendors that offer penetration testing services across the globe are Hewlett Packard Enterprise (U.S.), IBM Corporation (U.S.), Rapid7, Inc. (U.S.), Qualys, Inc.(U.S.), Veracode (U.S.), Trustwave Holdings, Inc. (U.S.), Acunetix (Malta), Cigital, Inc. (U.S.), WhiteHat Security (U.S.), and Checkmarx (Israel). These vendors have adopted different types of organic and inorganic growth strategies such as new product launches, partnerships & collaborations, and mergers & acquisitions to expand their offerings in the penetration testing market.
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