The global Penetration Testing Market size is projected to grow from USD 1.7 billion in 2020 to USD 4.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.8% during the forecast period. The major factors driving the market include the need to secure endpoint protection due to significant rise in mobile-based business critical applications and enterprises implementing security measures due to increased sophistication in cyberattacks.
By component, the solutions segment to hold a larger market size during the forecast period
Penetration testing includes network penetration testing, web and mobile application penetration testing, Internet of Things (IoT) penetration testing, and cloud penetration testing. Penetration testing is mostly provided as a service, but large enterprises as well as governments adopting the technology, contain sensitive information. For securing information, governments and large enterprises prefer deploying penetration testing solutions on their premises so that the controls remain in the hands of their in-house team of technical experts. Hence, the solutions segment is expected to be a larger segment during the forecast period.
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Healthcare vertical to be the fastest-growing vertical during the forecast period
The deployment of web and mobile applications for offering various health services is gaining popularity day-by-day. The IoT and Bring You Own Device (BYOD) trends have increased the adoption of these healthcare applications among customers. Thus, a large amount of healthcare data is generated that includes patient’s personal information, insurance IDs, social security numbers, medical history, historical data of financial transactions, and other confidential information. This data is susceptible to cyberattacks and its protection is of the highest priority of organizations. The breach of patient records, such as patient identity leads to many issues for patients. For instance, patients can become victims of medical identity theft resulting in the patient’s health records to contain false medical and health data, which puts further treatments at risk. All these lead to unsafe and inefficient patient care. Hence, the healthcare vertical is expected to be the fastest growing vertical for the adoption of penetration testing solutions during the forecast period.
Vendors covered in the penetration testing market report include Qualys(US), Rapid7(US), FireEye(US), IBM(US), Micro Focus(Berkshire), Cigital(Synopses) (US), Secureworks(DELL) (Georgia), Trustwave Holdings(Singtel)(US), Acunetix (Malta), Netsparker (UK), Veracode(Broadcom) (US), Rhino Security Labs(US), Core Security (HelpSystems) US), Immuniweb (High-Tech Bridge) (Switzerland), Checkmarx(Israel), PortSwigger Web Security (England), Context Information Security (UK), iSECURION (India), BreachLock(US), Raxis(Georgia). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions, to expand their presence in the penetration testing market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2018 to 2020 to innovate their offerings and broaden their customer base.
Qualys was founded in 1999 and headquartered in California, US. The company is one of the leading providers of cloud-based security and compliance solutions that help detect security risks in critical IT infrastructures in organizations and prevents potential threats. It provides solutions through Software-as-a-Service (SaaS) model. The company serves a wide customer base of 13,300 organizations spread in more than 130 countries across North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The company offers its security solutions to Small and Medium-sized Enterprises (SMEs) and large enterprises across various industry verticals such as education, financial services, government, healthcare, insurance, manufacturing, media, retail, technology, and utilities. Its suite of security and compliance solutions is deployed on its cloud platform. The Qualys Cloud Suite includes solutions, such as Vulnerability Management, ThreatPROTECT, AssetView, Continuous Monitoring, Cloud Agent, Web Application Scanning, and Web Application Firewall. The Vulnerability Management solution provides network security. It protects web applications from being attacked. Qualys is witnessing growth in its revenue since the past few years; the adoption of various growth strategies, such as business expansion, new product launches, and partnership helps the company to lead the penetration testing market.
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Rapid7 is one of the leading providers of security, data, and analytics solutions. It was founded in 2000 and is headquartered at Boston, Massachusetts, US. The company is trusted by more than 5,600 organizations across 100 countries, including 37% of the Fortune 1,000 companies. Its security solutions analyze the security data, reduce the risk of a breach, and accelerate security improvement in real-time. Rapid7 provides innovative solutions for incident detection and response, threat exposure management, security advisory services, as well as cybersecurity services, such as penetration testing, program assessment services, training, and managed services. Rapid7 provides its penetration testing tool Metasploit and penetration testing services, such as network pen testing, web application pen testing, mobile application pen testing, Internet of Things (IoT), and internet aware pen testing.
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