Penetration Testing Industry Will Near $4.6 Billion by 2025 - Presents Major Trends, Use Cases, Competitive Landscape and Profiles of Key Players
DUBLIN, July 10, 2020 /PRNewswire/ -- The "Penetration Testing Market by Component (Solutions & Services), Application Area (Network Infrastructure, Web Application, Mobile Application, Cloud, & Social Engineering), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global penetration testing market size is expected to grow from USD 1,718 million in 2020 to USD 4,598 million by 2025, at a Compound Annual Growth Rate (CAGR) of 21.8% from 2020 to 2025.
This 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.
Significant rise in mobile-based business-critical applications require more secure endpoint protection is driving the overall growth of the penetration testing market
The market growth is driven by various factors, such as the need to secure endpoint protection due to the 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 peiod.
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.
Key Topics Covered
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