Penetration Testing Market 2019 Global Trends, Size, Segments and Growth by Fore

Posted by Kiran on November 15th, 2019

Penetration Testing Market Highlights:

Penetration test, also referred to as pen test, is a virtual cyber-attack launched against the computer system to check for probable flaws existing within the system. When integrated with web application security, penetration testing helps in augmenting the web application firewall (WAF). The global penetration testing market is anticipated to generate revenue of approximately USD 2.8 billion by 2023. The market is estimated to develop at 26% CAGR during the forecast period 2017-2023. Pen testing can deal with attempted breaching of several application systems, for instance frontend/backend servers and application protocol interfaces (APIs), to expose risks that are prone to code injection attacks.

The outcomes obtained from penetration test can find application in fine tuning the WAF security policies coupled with patch detected vulnerabilities. Penetration Testing Market is best carried out by contractors hired from external agencies who are typically known as ‘ethical hackers.’ They are hired to test the flaws and loopholes present in a system which they are not familiar with. The ethical hackers are provided with the access to the system and are permitted to enter it for the time being to detect the pitfalls, if any.

Penetration testing assists the developers in monitoring, testing, and enhancing the prevailing security procedures on supporting applications and information systems. The rise in demand for secured web applications to thwart against cyber-attacks and rise in internet penetration are some of the key driving forces for the development of penetration testing market during the forecast period.

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Major Key Players:

Global penetration testing market is dominated by key players such as Redteam Security Consulting (U.S.), Core Security SDI Corporation (U.S.), Rapid7, Inc. (U.S.), Context Information Security (U.S.), Veracode (U.S.), Qualys, Inc. (U.S.), Acunetix (Malta), Hewlett Packard Enterprise (U.S.), Trustwave Holdings, Inc. (U.S.), Cigital Inc. (U.S.), WhiteHat Security (U.S.), Checkmarx (Israel), and IBM Corporation (U.S.).

Market Segmentation:

The penetration testing market is segmented based on component, type, end-user, organization size, and deployment. Based on component, the penetration testing market is sub-segmented as testing solutions and services solutions. The services solutions segment is sub-segmented into managed services and professional services.

The professional services segment is sub-segmented into implementing services, consulting services, training services, and integrating services. The testing solutions are segmented as web application penetration testing, wireless penetration testing, network penetration testing, social engineering, mobile application penetration testing, and others.