LONDON, Sept. 8, 2016 /PRNewswire/ --
"Increased sophistication level in attacking techniques is driving the growth of the penetration testing market"
MarketsandMarkets estimates the global penetration testing market 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%. The penetration testing market is growing rapidly due to the increased sophistication level of attacking techniques.
"Web application penetration testing to have the largest market size in 2016"
Web application penetration testing is estimated to have the largest market size in 2016 as the increased deployment of web applications and the protection of these application is the prime objective of the organizations. The growth in the web application penetration testing is associated with the rise in security breaches targeting enterprise web applications, where hackers try to gain access to sensitive data. Furthermore, wireless penetration testing will grow at the highest CAGR during the forecast period, due to the rise in Internet of Things (IoT) and Bring Your Own Device (BYOD) trends.
"BFSI vertical to have the highest growth rate during the forecast period"
Penetration testing services have been deployed across various industry verticals, including government & defense, Banking, Financial Services, and Insurance (BFSI), IT & telecom, healthcare, retail, and others. The BFSI vertical is expected to witness the highest CAGR during the forecast period because of the increasing adoption of web and mobile applications, which are prone to advanced cyber-attacks.
"Asia-Pacific (APAC) is expected to have the highest growth rate during the forecast period"
APAC includes emerging economies, such as India and China, which are rapidly deploying penetration testing services. This is mainly due to the digitization of businesses and adoption of cloud services by small, medium, and large enterprises in the region.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the penetration testing market place.
- By Company Type: Tier 1: 27%, Tier 2: 48%, Tier 3: 25%
- By Designation: C-Level: 16%, Director Level: 72%, Others: 12%
- By Region: North America: 57%, Europe: 16%, Asia-Pacific: 15%, ROW: 12%
The report includes the study of key players offering penetration testing services; 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) are some of the companies profiled in the report. The report includes in-depth competitive analysis of these key players in the penetration testing market, with their company profiles, SWOT analysis, recent developments, and key market strategies.
Objective of the Study
- To define, describe, and forecast the global penetration testing market on the basis of testing services, organization sizes, deployment modes, verticals, and regions
- To provide a detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To analyze the opportunities in the market for the stakeholders and detail the competitive landscape for the market leaders
- To forecast the market size of the various market segments with respect to the regions of North America, Europe, APAC, MEA, and Latin America
- To track and analyze competitive developments such as partnerships and collaborations, mergers and acquisitions, and new product launches in the penetration testing market
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
- Managed service providers
- Cyber security consulting firms
Scope of the Report
The research report categorizes the penetration testing market to forecast the revenues and analyze the trends in each of the following subsegments:
By Testing Service
- Network penetration testing
- Web application penetration testing
- Mobile application penetration testing
- Social engineering
- Wireless penetration testing
By Deployment Mode
By Organization Size
- Small and Medium Enterprises (SMEs)
- Large enterprises
By Industry Vertical
- Government and defense
- Banking, Financial Services, and Insurance (BFSI)
- IT and telecom
- North America
- Latin America
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