Significant rise in mobile based business applications and increase in use of cloud computing platforms are the major factors that drive growth of the penetration testing market. However, high cost of performing the test can hamper the growth of market. Contrarily, government initiatives and enterprises focus on digitalization is the opportunistic factor of the global penetration testing market.
With government lockdown initiatives in this pandemic, cloud-based adoption increased at a significant rate. This gives way to cyber hackers/attackers to various attacks on cloud platform. Hence, businesses that are shifting to cloud-based storage platforms are expected to propel the growth of the penetration testing market. In addition, industries incline toward cloud-storage over traditional physical servers, owing to low cost and ability to scale up or scale down businesses at a minimal investment. For instance, Apple, Inc. spent over $306 million on Amazon’s cloud till 2019. Similarly, in 2018, Amazon generated a revenue of approximately $25 billion from its Amazon Web Service (AWS) cloud computing services.
However, cloud-based solutions are vulnerable and prone to be hacked and attacked through cyber-crimes. This has increased the need to be secured from malicious code. In 2019, Capital One, a financial corporation faced a cloud computing vulnerability due to which 106 million credit card customer’s data were exposed. Thus, the demand for penetration testing is becoming an integral part of cloud computing platform to ensure additional security and is expected to witness rapid pace of growth along with cloud computing market.
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A typical penetration vulnerability testing is priced approximately $3000 per month, whereas a high-quality penetration testing service with various advance features might cost around $15000 to $30000 per month. These costs are high and unaffordable for small businesses, which has increased the service n solutions cost. Hence, performing penetration testing once or twice a year leaves new application code untested for months. Similarly, owing to high cost of penetration testing, small enterprises are adopt this test.
Key market players such as – Acunitix, Cigital Inc., Checkmarx, Hewlett Packard Enterprise Co., IBM Corporation, Qualys Inc., Rapid7 Inc., Trustwave Holdings Inc., Veracode, Whitechat Security.
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