Penetration Testing Market Set for 23.7% CAGR to 2021 - BFSI Dominates

Sep 01, 2016, 02:00 ET from RnR Market Research

PUNE, India, September 1, 2016 /PRNewswire/ --

The global penetration testing market is to grow from $ 594.7 million in 2016 to $ 1,724.3 million by 2021, at a CAGR of 23.7% due to increased sophistication level of attacking techniques led by BFSI vertical with highest growth rate globally.

Complete report on global penetration testing market spread across 135 pages, profiling 11 companies and supported with 38 tables and 75 figures is now available at http://www.rnrmarketresearch.com/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-vertica-st-to-2021-market-report.html

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 this 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.

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.

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.

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. Order a copy of 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 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=679444

In the process of determining and verifying, the global penetration testing market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (27%), Tier 2 (48%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (16%) and Director Level (72%) and others (12) from various key organizations operating in the global penetration testing market. The primary interviews were conducted worldwide covering regions such as North Americas (57%), Europe (16%), Asia-Pacific (15%) and Rest of World (12%).

On a related note, another research on Ultrasonic Testing Market Global Forecast to 2022 says, the ultrasonic testing market expected to grow at a CAGR of 8.3% during the forecast period. Phased array ultrasonic testing expected to grow at a high rate in the overall UT market during the forecast period. North America the largest market, whereas APAC to grow at the highest rate for UT market during the forecast period. Companies like General Electric, Olympus Corporation, Ashtead Technology Ltd., Mistras Group Inc., and TecScan Systems Inc., Sonatest Ltd., Amerapex Corporation, NDT Systems Inc., Applied Technical Services, Inc. and Sonotron NDT have been profiled in this 178 pages research report available at http://www.rnrmarketresearch.com/ultrasonic-testing-market-by-type-time-of-flight-diffraction-phased-array-immersion-testing-guided-wave-equipment-flaw-detectors-tube-inspection-transducers-probes-bond-testers-service-vertical-and-st-to-2022-market-report.html .

Explore more reports on Information Technology & Telecommunication market at http://www.rnrmarketresearch.com/reports/information-technology-telecommunication

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