Latest News- Penetration Testing Market: Solution is expected to lead the Component segment during 2025-2029

The Penetration Testing Market is being driven by Increasing cyberattacks and data breaches

The Penetration Testing Market is expected to grow at a CAGR of 16.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2771.9 million. In the current business landscape, cloud computing has revolutionized the way organizations store and manage data, providing benefits such as scalability, cost savings, and flexibility. With the increasing adoption of cloud solutions by businesses across various industries, the importance of robust security measures has become paramount. This has led to the emergence of a thriving global penetration testing market. IBM, for instance, offers a comprehensive suite of hybrid cloud solutions, empowering businesses to modernize, predict, automate, and secure their IT infrastructure using advanced AI and cloud technologies. The penetration testing market has experienced substantial growth in recent years due to the widespread adoption of cloud computing services. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • Solution
  • Services
• End-user
  • Large enterprises
  • Small and medium enterprises
• Service
  • Network penetration testing
  • Web application penetration testing
  • Mobile application penetration testing
  • Cloud penetration testing
  • Others
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing cyberattacks and data breaches
• Growing dependence on digital technologies
• Security awareness and increased budget allocation

However, the market also witnesses some limitations, which are as follows:

• Increased cost involved in penetration testing
• Increased regulatory complexities in penetration testing
• Shortage of skilled labour

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Market Scope in Penetration Testing Market Research Report

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Research Analysis Overview

The Penetration Testing Market is experiencing significant growth due to the surge in cyberattacks and internet penetration, with a focus on securing smartphones and addressing cybercrime in the dark web. The pandemic has accelerated digitization and remote work, leading SMEs to prioritize compliance measures and invest in security analysts. CoreSecurity, DevSecOps, and Cloud-based solutions are in high demand for software, healthcare, and IoT industries to secure wireless networks against data breaches.

Market Research Overview

In the current business landscape, penetration testing has emerged as a critical function to safeguard organizations from cyber threats. With the increasing number of cyberattacks and stringent regulations such as GDPR and HIPAA, the demand for penetration testing services is on the rise. Inputs for penetration testing include understanding the organization's IT infrastructure, identifying potential vulnerabilities, and simulating real-world attacks. Companies evaluate various data sources, including internal networks and external databases, to collect relevant information for penetration testing. A professional penetration testing team utilizes advanced tools and techniques to assess the security posture of an organization and provide actionable recommendations to mitigate risks. The process requires a high level of expertise, attention to detail, and a strong understanding of the latest cybersecurity trends.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/