What is the key market trend for Penetration Testing Market?

Increasing use of advanced driver assistance systems (ADAS): the Penetration Testing Market is the increasing use of advanced driver assistance systems (ADAS) in vehicles. ADAS includes features such as lane departure warning, automatic emergency braking, and adaptive cruise control, which require a complex network of sensors and wiring to function properly. The demand for ADAS is expected to rise due to the increasing focus on vehicle safety and the growing number of regulations mandating the installation of safety features in vehicles.

Penetration Testing Market Size, Share, Growth Analysis, By Testing Type(Red Team, Blue Team), By Testing Method(Blind Testing, Targeted Testing, External Testing, Internal Testing), By Offering(Solutions, Services (Professional Services, Managed Security Services)), By Deployment Mode(On-premises, Cloud), By Organization Size(Large Enterprises, Small & Medium-Sized Enterprises), By Type(Web applications, Mobile Applications, Network Infrastructure, Cloud), By Vertical(BFSI, Healthcare, IT & ITeS, Telecommunication), By Region - Industry Forecast 2025-2032

Report ID: SQMIG45F2150 | Region: Global | Published Date: September, 2024
Pages: 196 | Tables: 90 | Figures: 71

Penetration Testing Market News

Recently, in August 2024, FireCompass, a new name in the continuous penetration testing business announced the launch of a new generative AI autonomous penetration testing agent. FireCompass Agent AI can execute the complete penetration testing workflow by itself to increase testing coverage and overall security of an organization.
In July 2024, Horizon3.ai, a leading name in the cloud security business announced the launch of NodeZero™ Cloud Pentesting to enhance cloud security and identify hidden vulnerabilities as well.
In March 2024, F5, a renowned provider of cloud and application security announced the addition of penetration testing to its F5 Distributed Cloud Services. The company made this move soon after it acquired Heyhack to enhance its multi cloud security capabilities and application security as well.

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Penetration Testing Market size was valued at USD 1.6 billion in 2022 and is poised to grow from USD 1.7 billion in 2023 to USD 2.29 billion by 2031, growing at a CAGR of 17.12% during the forecast period (2024-2031).

Penetration testing providers should focus on reducing the costs and complexity of their offerings to maximize their business scope in the future. Collaborations and mergers are expected to emerge as popular strategies for penetration testing market players to enhance their market share. Addressing the issue of skilled professional shortage will be crucial for penetration testing companies to unlock the full growth potential of the market in the long run. 'Rapid7 ', 'Secureworks ', 'Synopsys ', 'Cisco Systems ', 'IBM ', 'Crowdstrike ', 'Coalfire ', 'Cigniti Technologies ', 'The Chertoff Group ', 'Fortinet ', 'Bugcrowd ', 'Summit Partners ', 'Hackerone ', 'Raxis ', 'Rsi Security ', 'Rhino Security Labs ', 'Sciencesoft ', 'Portswigger ', 'Netragard ', 'Software Secured ', 'TELUS Corporation ', 'LRQA Nettitude ', 'Liberty Strategic Capital ', 'Nowsecure ', 'Securitymetrics ', 'KKR (Netspi) ', 'Covertswarm ', 'Holm Security ', 'Intruder Systems ', 'Breachlock ', 'Isecurion ', 'Redbot Security'

Rise of cloud technologies has led to a massive upsurge in the popularity and use of cloud-based applications around the world. Penetration testing for cloud environments helps organizations identify potential security gaps, making it a crucial tool for ensuring that cloud-based systems are secure. Hence, growing use of cloud-based applications will drive up the demand for penetration testing.

Use of Automation: Penetration testing companies can focus on integration of artificial intelligence and machine learning technologies to introduce automation in penetration testing. Use of automation can also help organizations resolve the issue of the dearth of skilled professionals, enhance the efficiency of penetration testing solutions, and make them more accessible going forward.

North America is estimated to account for a substantial share of the global penetration testing market. The presence of a strong technological infrastructure, stringent regulations for data privacy and security, rising incidence of cyberattacks, and high investments in R&D of novel security technologies are key factors allowing this region to hold sway over others. Canada and the United States are slated to bring in substantial revenue for all penetration testing companies operating in this region. High awareness and spending on bolstering security of digital platforms and technologies will also create new opportunities for market players in North America.

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