Integrating AI, ML, and Other Technologies into Penetration Testing Presents Opportunities

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DUBLIN, September 23, 2022 /PRNewswire/ — The “penetration testing market by offering (software and services), type (web apps, mobile apps, network infrastructure, social engineering, cloud), organization size, deployment mode, vertical and region – global forecast to 2027” report has been added to from ResearchAndMarkets.com offer.

The Global Penetration Testing Market Size is Expected to Grow from an Estimated Value to $1.4 billion in 2022 at $2.7 billion by 2027, at a compound annual growth rate (CAGR) by 13.7% from 2022 to 2027.

Some of the factors driving the growth of the market include the presence of strict regulations and compliances mandating regular penetration testing practices, increasing sophistication of cyber attacks leading to financial and reputational losses for organizations, and increased internet penetration and the use of smartphones resulting in an increase in business-critical mobile applications. However, the costs associated with performing penetration testing and insider threats are expected to hamper the market growth.

By type, mobile apps are expected to grow at the highest CAGR over the forecast period

Penetration testing application areas include web applications, mobile applications, network infrastructure, cloud, and social engineering. Mobile application penetration testing is used for mobile applications. The mobile has become an important tool in our daily life. Due to the increase in the use of mobile devices, users in this segment have increased. The mobile application consists of sensitive data, and the protection of data used by mobile applications becomes of crucial importance. At the organizational level, BYOD policies allow employees to connect their mobile devices to corporate networks, allowing hackers to break into the network. Therefore, the need to secure mobile applications has become crucial. Mobile application users are becoming aware of various threats and hence the deployment of mobile application penetration testing is increasing rapidly. This led to the highest CAGR of mobile apps during the forecast period.

By vertical, the BFSI vertical represents a larger market size during the forecast period.

Data security and privacy are top concerns in today’s financial world. With stringent legislations, such as GDPR, PCI DSS and RBI Act, financial companies are now obligated to ensure customer safety and brand trust. Financial industry organizations are acutely aware of the damage a cyberattack can cause to their brand and reputation, as such attacks directly affect the mindset of customers and employees. BFSI institutes and organizations are attentive to the security of their customers’ sensitive data. Therefore, to improve the protection of online services against cyber attacks, penetration testing software and services are expected to see higher adoption in the BFSI vertical.

By region, Asia Pacific grow at the highest CAGR over the forecast period

APAC has been one of the fastest growing markets in terms of the expansion of the mobile workforce, propagated by the growing adoption of mobile devices in this region. APAC countries such as India, Chinaand Japan have widely adopted penetration testing technologies to protect data against theft. Thanks to numerous government programs, such as Digital India, and the increasing use of mobile apps and web applications in sectors such as BFSI, retail and IT, developing countries such as India headed for a fast scanning process. Thus, security must be integrated to protect users and sustain the digital industry in APAC in the face of rapid digital transformation.

Market dynamics

Drivers

  • Presence of strict regulations and compliances mandating regular penetration testing practices
  • Growing sophistication of cyberattacks resulting in financial and reputational loss for organizations
  • Increase in internet penetration and smartphone usage, leading to an increase in business-critical mobile applications

Constraints

  • Costs involved in performing a penetration test
  • Internal threats

Opportunities

  • Rising Trends in PTAAS and Remote Work Safety Ratings
  • Integration of AI, ML and other technologies in penetration testing
  • Increase digitization initiatives across all verticals by governments and businesses

Challenges

  • Lack of trained security professionals

Main topics covered:

1. Introduction

2 Research methodology

3 Executive summary

4 premium previews

5 Market Overview and Industry Trends

6 Penetration Testing Market, By Offer

7 Penetration Testing Market, By Deployment Mode

8 Penetration Testing Market, By Organization Size

9 Penetration Testing Market, By Type

10 Penetration Testing Market, By Vertical

11 Penetration Testing Market, by Region

12 Competitive Landscape

13 company profiles

14 adjacent markets

15 Appendix

Companies cited

  • Breach lock
  • Crowd of insects
  • Cigniti Technologies
  • Cisco Systems
  • Coalfire Laboratories
  • Warm blankets
  • Crowd
  • Fortinet
  • Hackerone
  • Holm Security
  • IBM
  • Indium-Software
  • Intrusion systems
  • Invicti
  • Security
  • netragard
  • netspi
  • Netness
  • Now secure
  • Portswigger
  • Quick7
  • Raxis
  • Redbot Security
  • Rhino Safety Labs
  • ROI Security
  • Sciencesoft
  • Secureworks
  • Security measures
  • Secure software
  • Synopsis
  • Trustwave
  • Cybersecurity Vumetric
  • Zimperium

For more information on this report visit https://www.researchandmarkets.com/r/b85jyn

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Research and Markets
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