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 2024-2031

Global 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).

Rapidly increasing incidence of cyberattacks and growing use of cloud technologies and platforms are projected to drive the demand for penetration testing over the coming years. The launch of new stringent regulations to ensure data security and privacy is also expected to create new opportunities for penetration testing companies in the future. Increasing digital transformation around the world and the launch of new supportive initiatives to promote the use of advanced digital technologies are expected to uplift the demand for penetration testing in the long run.  

Penetration testing plays a critical role in identifying vulnerabilities in these evolving digital environments, to ensure that security keeps up pace with digital innovation. The growing proliferation of mobile devices and IoT (Internet of Things) technologies is also estimated to uplift the global penetration testing market growth potential over the coming years. However, dearth of skilled professionals, high costs of penetration testing, and challenges in integration with legacy infrastructure are some key constraints that could impede market growth across the study period and beyond.