Penetration testing is also known as pen testing. It is a simulated process used to test a computer system, application or a network to check for security weaknesses, which could be easily capitalized on by hacker. They are designed in such way that they will be useful in security assessments and security testing. For penetration testing, a wide variety of security assessment tools are used, which can be hardware-software, websites and (PEA) proprietary enterprise applications. There are various methods under the ambit of penetration testing, which include external testing, internal testing, blind testing, and double blind testing.
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Increasing incidence of cyber-attacks and need to secure vulnerable data are key drivers for penetration testing market growth
Major driving factor for growth of the penetration testing market is the ability of penetration testing to provide security to industries from various cyber-attacks, as increasing incidence of cyber-attacks can increase the vulnerability of critical data stored by organizations and adversely impact the revenue. For instance, according to a report published by Academy and Industry Research Collaboration Center (AIRCC) in 2016, the number of web attacks in the U.S. in 2015, increased by 36% with over 4,500 new attacks each day. Moreover, increasing adoption of advance technologies such as Internet of Things (IoT), cloud computing, Bring Your Own Device (BYOD), and rise in disposable income has contributed to growth of the penetration testing market. Adoption of cloud computing has increased over the last decade as this technology is highly scalable, efficient in operation, and cost effective in comparison to other data storage and transfer technologies but is highly vulnerable and provides easy access to unauthorized users
Lower adoption of penetration testing systems by smaller organizations is hindering market growth
The adoption rate of penetration testing systems is very low in smaller enterprises, as these companies allocate lesser budget on cyber security solutions and penetration testing. Lack of knowledge and awareness regarding the use of security services in various industries coupled with shortage of skilled labor to carry out penetration testing exercises is adversely impacting growth of the penetration testing market.
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Regional analysis of penetration testing market
North America and Europe dominated the market with respect to penetration testing and are expected to maintain their dominance during forecast period, owing to increasing adoption of cloud services and Bring Your Own Device (BYOD) technology. For instance, according to Coherent Market Insights, in 2018, the U.S invested around US$ 95 billion on cloud services, accounting for more than 58% of the amount spent on cloud services worldwide. Furthermore, the UK and Germany collectively spent over US$ 14 billion on cloud services in 2018. Another factor which is contributing to the growth of the market in the region is presence of many key players (such as IBM Corporation, Synopsys, and WhiteHat Security among others) serving the penetration testing market in the region.
Asia Pacific is expected to register rapid growth during the forecast period in the penetration testing market due to increased adoption of cloud-based services, primarily in India and China. For instance, according to Coherent Market Insights, the digital transformation in Asia Pacific is driving multi-cloud and hybrid environments, which allows enterprises to create a more agile and cost-effective IT frameworks. Heavily regulated industries such as banking and finance are increasingly adopting Software as a Service (SaaS) for non-core functionality, Platform as a service (PaaS) for app development and testing, and Infrastructure as a Service (IaaS) for workload trial runs and testing for their new service offerings. Drivers of IaaS growth in the Asia Pacific include the increasing demand for more rapid processing infrastructure, as well as increasing requirement of better data backup and disaster recovery systems.
Global Penetration Testing Market: Competitive Landscape
The key players operating in penetration sensing market include IBM Corporation, Rapid7, Inc., Microfocus, Qualys, Inc., Synopsys Inc., Core Security SDI Corporation, Whitehat Security, Trustwave Holdings, Inc., Checkmarx.com LTD, VERACODE, Inc., Secure Works Inc., Acunetix, Contrast Security, and Paladion Network Private Limited.
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