Significant rise in mobile-based business critical applications require more secure endpoint protection is driving the overall growth of the penetration testing market. The global penetration testing market size is projected to grow from USD 1.
New York, March 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Penetration Testing Market by Component, Application Area, Deployment Mode, Organization Size, Vertical And Region - Global Forecast to 2025" - https://www.reportlinker.com/p04128999/?utm_source=GNW
7 billion in 2020 to USD 4.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.8% during the forecast period. The market growth is driven by various factors, such as the need to secure endpoint protection due to significant rise in mobile-based business critical applications and enterprises moving toward implementing security measures due to increased sophistication in cyberattacks.
By application area, the mobile application penetration testing segment to grow at the highest CAGR during the forecast period
Mobile application penetration testing is basically for mobile-based applications which is done by trying to break into various mobile applications through different vectors.The methodology is a security testing, which is used to analyze security from the inside of a mobile environment.
The mobile application penetration testing methodology concentrates on file system, hardware, and network security.The test results can provide an organization with knowledge of the vulnerabilities in the mobile application, loopholes, and attack vectors before delivering an app to the user, thus offering insights on how to mitigate the potential risks of mobile applications and secure the user credentials associated with it.
Mobile application users are becoming aware of the different threats and thus the deployment of mobile application penetration testing is rapidly increasing. Therefore, the mobile application penetration segment is expected to grow at the highest CAGR during the forecast period.
• By deployment mode, the cloud segment to grow at a higher rate during the forecast period
In the cloud deployment mode, instead of implementing the software solution on the local hardware, businesses subscribe to the solution hosted on a third-party remotely located server.By opting for cloud-based solutions, organizations can avoid costs related to maintenance of infrastructure and technical staff.
Cloud-based platforms are beneficial for organizations that have strict budgets for security investments.Small and Medium-sized Enterprises (SMEs) deploy their identity verification solutions on the cloud, as it saves them from investing their capital on security infrastructures.
Hence, the cloud deployment segment is expected to grow at a higher CAGR.
Asia Pacific to register the highest growth rate during the forecast period
Asia Pacific (APAC) has great scope for the growth of the penetration testing market. The penetration testing market in APAC is anticipated to grow significantly, due to increasing government investments in improving security posture, increased sophistication of cyberattacks, and the amalgamation of technologies, such as Artificial Intelligence (AI) and Machine Learning (ML) with penetration testing.
The fast expansion of regional enterprises in APAC is another crucial variant contributing to the growth of the penetration testing market. In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.
The breakup profiles of the primary participants are as follows:
• By Company Type: Tier 1–25%, Tier 2–40%, and Tier 3–35%
• By Designation: C-level Executives– 35%, D-level – 35%, and Others – 30%
• By Region: North America – 45%, Europe – 25%, APAC – 20%, MEA – 5%, Latin America – 5%
Major vendors offering penetration testing include Qualys(US), Rapid7(US), FireEye(US), IBM(US), Micro Focus(Berkshire), Cigital(Synopses) (US), Secureworks(DELL) (Georgia), Trustwave Holdings(Singtel)(US), Acunetix (Malta), Netsparker (UK), Veracode(Broadcom) (US), Rhino Security Labs(US), Core Security(HelpSystems) (US), Immuniweb (High-Tech Bridge) (Switzerland), Checkmarx(Israel), PortSwigger Web Security (England), Context Information Security (UK), iSECURION (India), BreachLock(US), Raxis(Georgia). The study includes an in-depth competitive analysis of these key market players, along with their profiles, recent developments, and key market strategies.
The market study covers the penetration testing market size across segments.It aims at estimating the market size and the growth potential of this market across segments categorized into components, application areas, verticals, and regions.
The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall penetration testing market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.
The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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