Penetration Testing Market size worth $ 7.79 Billion, Globally, by 2028 at 24% CAGR: Verified Market Research®

The “Global Penetration Testing Market Size By Component, By Organization Size, By Deployment Mode, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Penetration Testing Market, including its growth prospects, market trends, and market challenges
JERSEY CITY, N.J., July 21, 2023 /PRNewswire/ — The Global Penetration Testing Market is projected to grow at a CAGR of 24% from 2021 to 2028, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 1.39 Billion in 2020 and is expected to reach USD 7.79 Billion by the end of the forecast period.
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Market for Penetration Testing: Increasing Interest in a Proactive Approach to Protecting IT Infrastructure
Organizations are placing a high priority on enhancing the security of their IT infrastructure, which is driving a considerable growth in the worldwide penetration testing market. The process of identifying and addressing vulnerabilities in operating systems, services, applications, configurations, and user behavior is facilitated by penetration testing, also known as pen testing. This kind of evaluation confirms compliance with strict security standards as well as the efficiency of defensive measures.
Market Outlook and Drivers:
Maintaining a high level of security is crucial in the data center business, where the penetration testing market is growing. When conducting security audits and assessments for organizations looking to protect their priceless assets, the significance of the market is highlighted. Data centers have a lot of potential as a result of the spike in data consumption brought on by high-speed internet connections, rising industrial automation, and ubiquitous mobile device use. The adoption of colocation data center installations is anticipated to be driven by the industrial sector, which generates a significant amount of data.
Organizations in all sectors depend more on data centers as they go through digital transformation. The industrial IoT is being widely used in manufacturing and process sectors to improve operational efficiency, which generates a ton of data that fuels the growth of the penetration testing market. As a result, it is estimated that the market will increase steadily during the anticipated period.
Key competitors and Market Analysis:
With several well-known competitors vying for market share, the penetration testing market has a varied landscape. IBM Corporation, Checkmarx, Veracode, Whitehat Security, Qualys, Inc., Cigital, Inc., Rapid7, Inc., Acunitix, Hewlett Packard Enterprise, Trustwave Holdings, Inc., and other prominent companies are key competitors in this market.
As can be seen from their financial statements, product benchmarking, and SWOT analysis, these main players continuously concentrate on enhancing their goods and services. They work to retain a solid market position and raise customer satisfaction by utilizing a variety of essential development techniques. Players are trying to lead the Penetration Testing Market, as shown by market ranking analysis of the competitive landscape.
Cloud Computing and Enhanced Security:
Because of its affordability, scalability, and flexibility, cloud computing has become a standard in the industry and is strongly related to the penetration testing market. Notably, major investments in cloud services have been made by businesses like Apple and Amazon. Strong security measures are required as a result of the paradigm shift toward the cloud, which has exposed systems to hacking threats.
A startling illustration of cloud vulnerability happened in the 2019 Capital One incident, in which 106 million credit card customers’ sensitive data was stolen. This emphasizes the vital part penetration testing plays in providing increased security on cloud computing platforms. The demand for penetration testing is expected to increase dramatically since the cloud computing sector is expected to experience tremendous growth.
Organizations looking to assess and improve the security of their IT infrastructure should continue to rely on the penetration testing market. The significance of penetration testing is highlighted by the increase in data center usage and the increasing importance of cloud computing to company operations. Market participants must prioritize thorough security measures while keeping up with emerging technologies. Given that organizations place a high priority on securing their systems against potential cyber threats, penetration testing is positioned to influence the market’s future course.
For more information, financial statements, product benchmarking, and SWOT analysis, on the Global Penetration Testing Market, please purchase Penetration Testing Market report at Verified Market Research.
Based on the research, Verified Market Research® has segmented the global Penetration Testing Market into Component, Deployment Mode, Organization Size, And Geography.
Penetration Testing Market, by ComponentServicesTesting SolutionsPenetration Testing Market, by Deployment ModeCloud-BasedOn-PremisePenetration Testing Market, by Organization SizeLarge CompaniesSmall and Medium BusinessesPenetration Testing Market, by GeographyNorth AmericaU.SCanadaMexicoEuropeGermanyFranceU.KRest of EuropeAsia PacificChinaJapanIndiaRest of Asia PacificROWMiddle East & AfricaLatin AmericaBrowse Related Reports:
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Security Testing Market By Tools (Automated Testing Tools, Penetration Testing Tools, Web Testing Tools), By Organization Size (Large Companies and Small and Medium Businesses), By Type (Application Security Testing, Network Security Testing, Device Security Testing), By Deployment Model (Cloud-Based and On-Premise), By Vertical (Government, IT and Telecom, Banking, Financial Services), By Geography, And Forecast
Top 5 Cloud Managed Services using internet to deliver applications
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