Artificial Intelligence
Penetration Testing as a Service Market worth $301 million by 2029- Exclusive Report by MarketsandMarkets™
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CHICAGO, July 15, 2024 /PRNewswire/ — The global Penetration Testing as a Service Market size is projected to grow from USD 118 million in 2024 to USD 301 million by 2029 at a CAGR of 20.5% during the forecast period, according to a new report by MarketsandMarkets™. The PTaaS Market is primarily driven by increasing cyber threats and security breaches, regulatory and compliance requirements, digital transformation by adopting cloud services and IoT devices, and a shift towards remote work.
Browse in-depth TOC on “Penetration Testing as a Service Market”
362 – Tables 44 – Figures303 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Million)
Segments Covered
Offerings, Organization Size, Testing Type, Vertical, and Region
Geographies covered
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America
Companies covered
Major vendors in the global PTaaS Market include Synack (US), HackerOne (US), Synopsys (US), Intervision (US), Edgescan (Ireland), Bugcrowd (US), Guidepoint Security (US), Trustwave (US), Cobalt (US), NetSPI (US), Veracode (US), Yogosha (France), Software Secured (Canada), Raxis (US), Vumetric Cybersecurity (Canada), Nowsecure (US), Breachlock (US), Astra Security (India), Strobes Security (US), Pentest People (UK), Rootshell Security (UK), SafeAeon (US), Immuniweb (Switzerland), and Cyberhunter Solutions (Canada).
Further, the opportunities in the PTaaS Market are spurred by technological advancements and automation, expansion into new verticals, and alignment of PTaaS with DevSecOps practices.
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By offering segment, PTaaS solutions will grow at the highest CAGR during the forecasted period.
Due to several key factors, the solution segment is anticipated to have the highest CAGR in the PTaaS Market during the forecasted period. Firstly, organizations are growing aware of the critical need to identify and address security vulnerabilities proactively. Such awareness drives demand for advanced penetration testing solutions that simulate real-world cyberattacks and provide comprehensive insights into security gaps. Additionally, technological advancements and AI and machine learning integration in these solutions enhance their effectiveness and efficiency, making them more attractive to enterprises. Moving ahead, the increasing regulatory requirements and compliance standards across various industries are pushing companies to adopt robust security solutions to safeguard their data and infrastructure. Moreover, the scalability and flexibility of these solutions allow businesses of all sizes to customize their security measures according to their specific needs, further boosting the adoption of PTaaS solutions. These factors collectively contribute to the growing adoption and development of PTaaS solutions.
The large enterprises segment holds the largest market size during the forecast period in terms of organization size.
The large enterprises segment of the PTaaS Market is anticipated to achieve the largest market size in the forecasted period. This is because large enterprises typically possess more complex and extensive IT infrastructures, making them prime targets for cyberattacks. Such complexity necessitates comprehensive and sophisticated penetration testing services to identify and mitigate vulnerabilities effectively. Additionally, large enterprises are more likely to have substantial budgets for cybersecurity measures, allowing them to invest in advanced PTaaS solutions. Moreover, these organizations often operate in highly regulated industries such as finance, healthcare, and telecommunications, where stringent compliance requirements mandate regular and thorough security assessments. Furthermore, the higher stakes associated with data breaches and cyber incidents in large enterprises drive a more proactive and robust approach to security, reinforcing the demand for PTaaS. The combination of these factors ensures that large enterprises dominate the market size in the PTaaS Market segmented by organization size.
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By region, the Asia Pacific market will grow at the highest CAGR during the forecast period.
The Asia Pacific region is projected to experience the highest CAGR in the PTaaS Market, driven by several compelling reasons. Firstly, the region is witnessing rapid digital transformation across various industries, including finance, healthcare, and e-commerce, significantly increasing the demand for robust cybersecurity measures. Additionally, the rising number of cyberattacks and data breaches in the region has heightened awareness among organizations about the importance of penetration testing to safeguard their digital assets. Moreover, government initiatives and regulations to strengthen cybersecurity frameworks in countries like China, India, and Japan propel the adoption of PTaaS solutions. The growth of SMEs and startups in the region, coupled with their increasing reliance on digital platforms, also contributes to the surge in demand for penetration testing services. Furthermore, the presence of a large and diverse IT services industry, along with continuous advancements in technology, enhances the region’s capability to adopt and integrate sophisticated PTaaS solutions, driving its exceptional growth in the market.
Top Key Companies in Penetration Testing as a Service Market:
Synack (US), HackerOne (US), Synopsys (US), Intervision (US), Edgescan (Ireland), Bugcrowd (US), Guidepoint Security (US), Trustwave (US), Cobalt (US), NetSPI (US), Veracode (US), Yogosha (France), Software Secured (Canada), Raxis (US), Vumetric Cybersecurity (Canada), Nowsecure (US), Breachlock (US), Astra Security (India), Strobes Security (US), Pentest People (UK), Rootshell Security (UK), SafeAeon (US), Immuniweb (Switzerland), and Cyberhunter Solutions (Canada) are the key players and other players in the PTaaS Market.
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Artificial Intelligence
Tower Company EuroTeleSites to Advance Digital Transformation with Sitetracker
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Cost and time savings will drive efficiencies; powerful analytics sharpens rollout strategies
MONTCLAIR, N.J., Aug. 21, 2024 /PRNewswire/ — Sitetracker, the world’s leading provider of deployment operations management software, will implement its software at EuroTeleSites, third largest listed company in Europe with markets in Austria, Bulgaria, Croatia, Slovenia, North Macedonia, and Serbia. With Sitetracker, EuroTeleSites will increase the efficiencies of wireless infrastructure deployments across all countries, improve product management and asset management, and harness its troves of proprietary data for strategic insights.
With more than 13,500 sites across CEE, EuroTeleSites deploys, operates, and maintains a massive network of critical infrastructure that wireless service providers across all six countries use. Rising customer expectations led to the company’s plan to move off its legacy asset management software to a modern platform with better usability and built-in data analytics. EuroTeleSites will make that digital transformation with Sitetracker.
“The approximately 400,000 mobile towers of all telcos and TowerCos throughout Europe form the infrastructural backbone of an increasingly digital, mobile society. As a tower operator, this requires close coordination with customers, authorities, landlords and suppliers: from site selection to construction and maintenance. Sitetracker helps us synchronize all the necessary information across countries and in real time and use it more effectively,” comments Lars Mosdorf, CFO of EuroTeleSites and responsible for IT, on the potential of the software changeover. “With the introduction of Sitetracker, we are creating state-of-the-art support for our team and the basis for big data analytics, machine learning and, in a later step, digital twins,” says Mosdorf, delighted with the forward-looking investment.
Sitetracker continues to see extraordinary success in international markets, particularly in Europe where telecom service providers are investing in high-capacity fiber and wireless infrastructure to deliver much-anticipated 5G services. The Sitetracker product suite, with its built-in best practices for the telco industry, offers a complete telecom ecosystem with prebuilt, intelligent templates and workflows based on years of experience that benefit EuroTeleSites as it moves nimbly to respond to its customers.
“In order to reap the benefits of digital transformation, which include significant cost and time savings, companies must re-imagine old processes and use data to improve them,” said Giuseppe Incitti, CEO of Sitetracker. “Sitetracker gives telcos and TowerCos the tools to make this shift simply and effectively, so they can move forward with clear, precise, real-time information and focus on serving their customers with maximal efficiency. We look forward to a continued positive relationship with EuroTeleSites.”
About SitetrackerSitetracker powers the rapid deployment of tomorrow’s infrastructure. The global leader in deployment operations management software, Sitetracker helps innovative companies like Cox, Telefonica, EVgo, Nextera, Comcast, ChargePoint, Cypress Creek Renewables, Ziply, Southern Company, Iberdrola, Vodafone, Vantage Towers, VerticalBridge, and Congruex plan, deploy, and manage millions of programs, projects, sites, and assets across nearly 300 customers globally. By giving telecommunications, EV charging, renewables, utility, and real estate teams a cloud-based solution that works easily and effectively, Sitetracker accelerates the transition to a fully connected and sustainable future. Deploy what’s next. For more information, please request a demo.
About EuroTeleSitesEuroTeleSites, a listed company on the Vienna Stock Exchange, is the leading provider of telecommunications infrastructure and solutions in the CEE region. It is building the region’s digital infrastructure by operating 13,552 strategically located sites in the second quarter 2024. In the 2023 reporting period (Sep 22 – Dec 31), 165 employees generated revenues of EUR 71.9 million. As a European player among the top 30 tower companies worldwide, EuroTeleSites´ goal is to further strengthen its position as a trusted partner in the telecommunications industry. Besides A1 as the anchor tenant, customers range from mobile network operators to internet service providers, enterprises and government agencies. EuroTeleSites is dedicated to delivering reliable and innovative infrastructure solutions to meet the ever-growing connectivity needed in today´s world.
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Artificial Intelligence
Indosat Ooredoo Hutchison Elevates National Technological Ambition with the Unveiling of Indonesia’s First AI Experience Center
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JAKARTA, Indonesia, Aug. 21, 2024 /PRNewswire/ — Indosat Ooredoo Hutchison (Indosat or IOH, IDX: ISAT) has taken a significant step forward in its larger purpose to empower Indonesia by launching the country’s first AI Experience Center at Solo Technopark in Solo, Central Java. This state-of-the-art facility, backed by advanced 5G connectivity, stands as a testament to Indosat’s commitment to shaping Indonesia’s future as an AI Nation and positioning the country as a key player in the global AI community.
The inauguration of this groundbreaking AI Experience Center was marked by the presence of prominent figures, including Wijaya Kusumawardhana, Expert Staff to the Minister for Social, Economic and Cultural Affairs representing the Minister of Communication and Informatics of the Republic of Indonesia; Vikram Sinha, President Director and CEO of Indosat Ooredoo Hutchison; and Teguh Prakosa, the Mayor of Surakarta. This milestone underscores Indonesia’s strides toward realizing its vision of a Golden Indonesia 2045 through the adoption of advanced technologies, with 5G connectivity serving as the backbone of this transformation.
Expert Staff to the Minister of Communication and Informatics of the Republic of Indonesia for Social, Economic and Cultural Affairs, Wijaya Kusumawardhana, expressed, “We congratulate Indosat Ooredoo Hutchison for pioneering the first AI Experience Center in Indonesia. This initiative signifies a pivotal moment in the evolution of our telecommunications industry. We are confident that this experience center will catalyze further innovation across sectors, and we stand ready to support its success.”
President Director and CEO of Indosat Ooredoo Hutchison, Vikram Sinha, said, “This AI Experience Center marks a cornerstone in our journey to empower Indonesia through AI. It is a clear demonstration of our commitment to transforming Indonesia’s digital and telecommunications landscape. We deeply appreciate the support from the Indonesian government and our strategic partners who share our vision of propelling Indonesia onto the global stage. This is only the beginning of many exciting developments as we unlock infinite possibilities for millions of Indonesians.”
Mayor of Surakarta, Teguh Prakosa, emphasized, “We are honored that Indosat has chosen Solo for the establishment of Indonesia’s first AI Experience Center. This facility will not only enhance Solo Technopark but also trigger a multiplier effect on the local economy and digitalization, benefiting education, tourism, and job creation.”
Partnering with global technology leader Huawei, the Indosat AI Experience Center showcases cutting-edge AI technologies applicable to various sectors, including smart city management optimized by its 5G network, arts, food & beverages, and other creative industries. Beyond serving as a showcase for the latest AI innovations, the AI Experience Center will also function as a training hub, offering programs to students, public servants, and the broader community on how AI can enhance productivity and create new opportunities.
This hands-on experience is a precursor to the AI Center of Excellence that Indosat plans to establish, which will be powered by 5G technology and is set to be groundbreaking in the near future. Indosat’s commitment to catalyzing advanced technology in Solo began in 2021 with the launch of its 5G service, followed by the establishment of Solo Safari as the first 5G zoo in Indonesia.
Guided by Indosat’s overarching purpose of empowering Indonesia, the AI Experience Center is poised to be a catalyst for innovation, fostering the development of AI-ready talent, and providing society with the tools to harness AI’s transformative power. As Indonesia stands on the cusp of a technological revolution, Indosat’s AI Experience Center symbolizes not just the dawn of a new era, but the beginning of a journey that will see Indonesia rise as a leader in AI. With this facility, Indosat is not merely investing in technology; it is investing in the future of the nation—empowering Indonesians to seize the boundless opportunities that AI and 5G present and to propel the country toward a brighter, more innovative future.
About Indosat Ooredoo Hutchison
Indosat Ooredoo Hutchison (Indosat, IDX: ISAT) has the vision to become the most preferred digital telecommunications company in Indonesia. Together with its subsidiaries and affiliates, Indosat provides cellular services, ICT solutions, data centers, Fiber to the Home (FTTH), electronic payment services, financial services, and other digital services. Indosat has a larger purpose of empowering Indonesia, and with the spirit of Gotong Royong, Indosat wants to be the main collaborator in realizing it and creating meaningful change.
Disclaimer
This document may contain financial information and the results of certain operational activities, and may contain a number of projections, plans, strategies, and objectives of Indosat Ooredoo Hutchison, which are not statements of historical fact which will be treated as forward-looking statements in accordance with applicable law. Forward-looking statements are subject to risks and uncertainties that could result in actual events and future achievements of Indosat Ooredoo Hutchison different from those expected or indicated by the statements. No warranty can be given as to the results expected by Indosat Ooredoo Hutchison, or indicated by such statements, to be achieved.
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Artificial Intelligence
Cognizant Appoints Rajesh Varrier as Global Head of Operations and Chairman & Managing Director, India
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Industry veteran brings 30 years of service, operations and digital experience to the role
TEANECK, N.J., Aug. 21, 2024 /PRNewswire/ — Cognizant (Nasdaq: CTSH) today announced the appointment of Rajesh Varrier as Global Head of Operations, effective September 2, 2024. Additionally, he will be appointed as Chairman & Managing Director, India, assuming the role October 1, 2024, as Rajesh Nambiar leaves Cognizant to become president of NASSCOM. Varrier will be an Executive Vice President of Cognizant, reporting to Ravi Kumar S, Cognizant’s Chief Executive Officer. Varrier will be based in Bangalore, India.
“Rajesh Varrier is a respected, experienced executive whose operational rigor and entrepreneurial spirit aligns well with Cognizant. As we drive further operational excellence, efficiency and a sharp focus on execution into our business model, this role is a natural orchestration point for our India-based operations,” said Cognizant CEO Ravi Kumar S. “Additionally, the job of India Chair is deeply important to our culture and my years of working with Rajesh Varrier gives me great confidence that together, with our growing leadership team in India, we can continue to build upon our already strong foundation to be the employer of choice in India.”
As Global Head of Operations and Chairman & Managing Director, India, Varrier’s responsibilities will include operations, Delivery Excellence, workforce planning, India Leadership Council, expansion in India and other key responsibilities. Importantly, he will provide regional leadership for Cognizant’s India-based employees with a strong emphasis on driving company transformation programs, and representing the company as it executes its growth plan across India.
“Cognizant’s reputation is rooted in its talented associate base and the quality outcomes it delivers for its global clients,” said Varrier. “I’m thrilled to help accelerate the company’s growth journey, as leader of these critical business areas, and look forward to working with the amazing team the company has in place in India and globally.”
Prior to joining Cognizant, Rajesh Varrier served as EVP, Head of Global Services and Infosys Americas, as well as Global Head of Infosys’ Digital and Microsoft businesses. He also previously served as SVP of Digital Experience for the Microsoft business at Infosys. Before joining Infosys, Varrier was CIO and Digital officer for Aditya Birla Sun Life Insurance and founder of the analytics firm Activecubes. He holds both an undergraduate degree in Physics and a post-graduate degree in Computer Engineering from the University of Mumbai.
Current India Chair Rajesh Nambiar will leave Cognizant at the end of September to become president of NASSCOM. Kumar added, “I am excited to see Rajesh Nambiar’s appointment as the incoming president of NASSCOM, an organization Cognizant has partnered with for decades. Under his leadership we will continue to collaborate to further strengthen the Indian IT industry. I am equally excited for NASSCOM as they usher in their new leader. I wish Rajesh Nambiar success and look forward to working with him in his new role.”
“Cognizant will always have a special place in my heart and I am immensely proud of the remarkable achievements and resilience of our associates and leadership team,” stated Rajesh Nambiar, Chairman and Managing Director of Cognizant India. “I am honored and truly humbled to be appointed as the president of NASSCOM, an organization that has been instrumental in shaping the Indian IT industry. I look forward to collaborating with the entire IT ecosystem, including Cognizant, and am excited to contribute to the industry’s transformation and future growth.”
About CognizantCognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we’re improving everyday life. See how at www.cognizant.com or @cognizant.
For more information, contact:
U.S.
Name Annette Busateri
Email [email protected]
Europe / APAC
Name Christina Schneider
Email [email protected]
India
Name Rashmi Vasisht
Email [email protected]
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