Penetration Testing Market - Forecasts from 2024 to 2029

The penetration testing market was evaluated at US$1.781 billion in 2022, growing at a CAGR of 13.22%, reaching a market size of US$4.351 billion by 2029.

A penetration test is projected to show steady growth during the forecast period. A penetration test, which is called a pen test, is a legitimate assumed attack done on the computer system to examine the security protocols. Penetration evaluators use these types of techniques and protocols to resemble a hacker to ensure the possible effect of proneness involved in the system. This type of evaluation resembles a wide range of cyber strikes which would be a threat to the company. The pen test enables it to withstand authenticated and unauthenticated attacks along with a variety of system roles. By using suitable parameters, a pen test can penetrate into every aspect of the system.

A penetration test feeds real information into the efficacy of the company's goals. This test helps and indicates the vulnerabilities in systems, evaluates efficient measures, and adheres to regulations with respective data privacy and security. Increasing utilization of mobile applications increased cyber threats, and growing demand for digitization are driving the penetration testing market growth.

Penetration Testing Market Drivers

• Growing usage of mobile applications drives the penetration testing market growth.

The broad usage of mobile applications with respective banking, healthcare, and social media requires sturdy security regulation. As these applications involve sensitive information related to consumer personal details like bank details, health-related problems are being fed into the database as a single security imbalance costs severe problems to both the consumer and the organization. In this scenario, the penetration test acts as a digital protector for mobile applications. The penetration test uses tactics to replicate the path used by the breacher to pinpoint the vulnerabilities prior to the point it can be breached.

For instance, in February 2023, the Press Information Bureau published an article stating that the Government partnered with relevant stakeholders, has successfully enhanced the E-payments transactions from 2,071 crore during the FY 2021-22.

• Increased cyber threats propel penetration testing market growth.

The growing prevalence of cyberattacks, starting from ransomware that abrupt day-to-day operations to data breaches that break relevant information, is driving organizations to sort and opt for cybersecurity. Penetration testing acts as a precautionary measure to protect the data from threats, as this penetration testing acts like an attack on systems that is a tactic used by the employer to detect the loops in the system to fix them before they are exposed.

For example, a healthcare network is defended by ransomware, which denies access to doctors from patients. By using the pen test, one can detect and fix the upcoming problems that cause a disaster. As pen test helps the company to stay updated and be a step forward for cybercriminals where they can protect sensitive data.

For instance, in December 2023, the Data Security Council published an article stating that the number of known threats has significantly increased to a whopping 400 million, which encompasses 8.5 million conclusion points.

• Growing demand for digitalization enhances penetration testing market growth.

The fast-ongoing digital transformation in developing countries, linked with the growing access to wards and the internet and interconnected devices such as home appliances, is propelling cyber threats. These factors, with respective internet and connected devices, make a good platform for cyber-attacks making a dangerous notification. In order to stay updated about ongoing threats, it's a smart move to adopt a tedious security testing protocol, with a pen test which plays a vital role. This test acts as a protective shield, which can manipulate the cyber threats and pin the weak sections in these types of connections toward various devices.

For instance, in 2023, Eurostat published a report that states that in 2022, 72% of internet surfers in Europe used internet-based connected devices or systems. Out of these users, 64% opt for smart home entertainment solutions where TVs have established connections with the internet.

Penetration Testing Market - Geographical Outlook

• North America is expected to grow significantly.

North America is anticipated to account for a significant share of the penetration testing market due to various factors. The region is a central hub for a variety of technological implementations with the connection of the internet and interconnected devices. The companies in the region are vulnerable to cyber-attacks, data breaches, and cyber-related scams. These types of growing threats to the companies propel cybersecurity solutions and protective measures to safeguard the data. A pin test provides a significant solution for these cyber aspects problems. Furthermore, Government rules and safety protocols from countries like the United States and Canada where companies from these regions need to undergo regular security examinations, ensuring and decreasing the risk of significant penalties.

Penetration Testing Market Restraints

• Limited resources hinder penetration testing market growth.

The size of the organization or enterprise has an impact on the implementation of penetration testing as the test requires qualified individuals who can run the systems fix the problems and access the further threats to complete the cycle of examination. To run these tests enterprise, need to provide financial support which will be challenging for the organizations.

• Business Operations Disruption curbs penetration testing market growth.

The penetration testing requires time to examine and fix the problem because of this time consumption process the day-to-day operation of the organizations being held to a halt.

Penetration Testing Market Key Industry Developments

• February 2023: Net SPI, a company well known for its penetration testing and ground management, purchased nVisium. The intention of the purchase is to extend Net SPI's security products offering and meet the growing need for penetration testing solutions.

Penetration Testing Market Major Players and Products

• Crowdstrike Falcon: crowd strike platform that runs on the cloud, intending to protect business operations from cyberattacks. By utilizing innovative technologies like artificial intelligence, it can easily identify and stop the threat over various domains, involving endpoints, identities, and data.
• InsightIDR: The product launched by Rapid 7 is an innovative cloud-based platform called Security Information and Event Management (SIEM) is a tool having features like advanced detection and response (XDR) functions. It incorporated and established the process of detecting and warning about the threats for the enterprises.

Penetration Testing market is segmented and analyzed as follows:

By Deployment

• On-premise
• Cloud

By Organization Size

• Large
• Small and Medium Enterprises

By Component

• Solution
• Service

By Testing Type

• Network Penetration Testing
• Application Penetration Testing
• Cloud Penetration Testing
• Others

By Industry Vertical

• Healthcare
• BFSI
• Government and Defence
• Retail and E-commerce
• Energy and Utilities
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others