Latest News: Penetration Testing Market 2024-2028: North America Leads Growth
Technavio analyzes that the Penetration Testing Market is expected to grow at a CAGR of 13.98% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1.93 billion.There are various factors that contribute to the growth of the market. In today's digital landscape, the significance of penetration testing has grown exponentially due to the escalating number of cyberattacks and data breaches. Penetration testing, also known as ethical hacking, is a critical security measure that enables organizations to identify and address vulnerabilities in their systems before malicious actors exploit them. By simulating real-world attacks, penetration testing helps fortify defenses and safeguard sensitive information from potential threats. The global penetration testing market is expected to witness robust growth in the coming years as businesses increasingly prioritize cybersecurity.
The global penetration testing market is witnessing substantial expansion due to escalating cybersecurity concerns and the increasing number of data breaches. Penetration testing, or ethical hacking, is an essential practice that enables organizations to proactively identify vulnerabilities within their software, cloud-based systems, and healthcare networks. By systematically attempting to exploit these weaknesses, penetration testing provides valuable insights into potential risks and offers recommendations for enhancing security. The solution segment, comprising software, platforms, and managed services, is a significant market driver. As businesses prioritize advanced security solutions to safeguard their critical assets from evolving cyber threats, the penetration testing market continues to thrive.
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Penetration Testing Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The Penetration Testing Market is experiencing significant growth due to the surge in cyberattacks, internet penetration, and increased usage of smartphones. The pandemic has accelerated digitization and the shift to remote work, leading to an uptick in data breaches and cybercrime. Dark web activities and non-compliance measures pose threats, necessitating the need for Penetration Testing. CoreSecurity, DevSecOps, SMEs, Security Analysts, Software, Cloud-based solutions, Healthcare, IoT, and Wireless networks are key focus areas.
The global Penetration Testing Market is a significant segment of the expansive IT Consulting and Other Services Market, which falls under the IT Services Market umbrella. This market encompasses organizations providing IT consulting, system integration, application, electronic data processing, business process outsourcing, infrastructure, and Internet services. Technavio's analysis of the IT Consulting and Other Services Market involves calculating the collective revenue generated by companies offering various IT consulting and information management services. Key drivers for the Penetration Testing Market include escalating cyberattacks, stringent regulations, and the increasing use of smartphones.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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