Rise in number of data centers and high adoption of cloud computing solutions and services have boosted the growth of the global Penetration Testing Market. Furthermore, strict government regulations to boost adoption of penetration testing solutions supplemented the market growth. However, dearth of skilled security professionals and high implementation cost hinder the market growth. On the contrary, rise in popularity of PTaaS and security assessment for remote workers would open new opportunities in the future.
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By industry vertical, the healthcare segment is expected to portray the highest CAGR of 17.4% during the forecast period, as it helps the doctors to integrate their appointment and clinic management to streamline process and reduce the load of management on clinics without any security concerns. However, the BFSI segment held the largest share in 2021, contributing to more than one-fifth of the global penetration testing market, as it provides enhanced security to customers’ financial information at the time of sanctioning unsecured loans.
By organization size, the small and medium segment is estimated to register the highest CAGR of 14.4% from 2022 to 2031, due to the features of Penetration Testing systems such as cost-efficiency and less time & efforts for better management and enhanced business operations. However, the large enterprise segment held the largest share in 2021, contributing to more than two-thirds of the global penetration testing market, owing to increase their productivity with efficiency and constant quality.
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By region, the market across North America held the lion’s share in 2021, accounting for more than one-third of the global penetration testing market, due to increase in adoption of advanced technologies such as cloud technology, big data, artificial intelligence, and machine learning for automation across industries. However, the market across Asia-Pacific is estimated to register the highest CAGR of 14.5% during the forecast period, owing to rise in penetration testing awareness and growth in the number of SMEs adopting cloud-based security testing in the region.
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Covid-19 Scenario:
- The market witnessed positive response during the Covid-19 pandemic, due to rapid adoption of work from home by various government, public, and other organizations. Moreover, IT & telecom industries have been using PTaaS for improving the loss suffered during the pandemic, due to rise in cyber-crime and data breaches during the lockdown.
- However, lack of skilled IT professionals and highly skilled hackers increased the rate of cyber-crimes and security breaches. This has increased the demand for penetration testing services and solutions.
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