Penetration Testing Software Market is expected to reach US$ 4,045.2 million by 2028

    Published on 21-Jan-2022
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    Report : Penetration Testing Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Cloud-Based and On-Premises), Enterprise Size (Large Enterprises and SMEs), and Application (Web Application, Network Infrastructure, Mobile Application, Social Engineering, and Others)

    Penetration Testing Software Market is expected to reach US$ 4,045.2 million by 2028

    According to our latest market study on "Penetration Testing Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Enterprise Size and Application," the market was valued at US$ 1,580.4 million in 2021 and is projected to reach US$ 4,045.2 million by 2028; it is expected to grow at a CAGR of 14.4% from 2021 to 2028

    Market Overview

    The increasing popularity of Penetration Testing-as-a-Service (PTaaS) and remote working has led to a rise in cloud-based penetration testing. PTaaS allows IT professionals to conduct continuous penetration testing and take action based on the results. It involves an ongoing cycle of testing and remediation, reflecting the need for a continuous testing and management program to address changing security risks. PTaaS includes continuous security management, frequent vulnerability scanning, and automatic tracking of changes to provide traceability of application security improvements. Outsourcing penetration testing offers the benefit of staying up-to-date with the latest cyber tools and trends in the penetration testing software market.  

    Market Segmentation   

    The penetration testing software market is categorized based on type, application, enterprise size, and geography. It is divided into two main types: cloud-based and on-premises, with the former leading the market and accounting for a larger share in 2021. Cloud-based penetration testing offers various advantages such as cost-effectiveness, scalability, and flexibility, allowing organizations to scale up and down their testing needs based on their requirements. Cloud-based solutions do not require organizations to purchase, set up, and maintain their hardware, saving significant upfront costs. Additionally, the cloud-based model allows organizations to access the testing software from anywhere, anytime, and on any device, making it an attractive option for remote teams. Finally, cloud-based penetration testing software providers often offer additional security features, such as data encryption and redundancy, to safeguard sensitive data. These benefits make cloud-based penetration testing software a preferred option for many organizations. The penetration testing software market is also segmented by application, including web application, network infrastructure, mobile application, social engineering, and others. In 2021, the web application segment led the market and held the largest market share. The penetration testing software market is segmented by enterprise size into large enterprises and SMEs. Geographically, the market is divided into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM), with North America holding the largest market share in 2021.

    Impact of COVID-19

    After the emergence of COVID-19, companies globally adopted a cloud-based work-from-home culture. This led to employees accessing company information through unsecured personal devices like laptops, tablets, and cellphones, creating an opportunity for attackers. To ensure security, remote working environments require remote security assessments. Experts predict that some organizations will continue working from home even after the pandemic, creating opportunities for PTaaS and remote work security evaluations. This is expected to drive growth in the penetration testing software market in the future. Despite the challenges that organizations faced during the Covid-19 pandemic, the penetration testing software market has continued to grow steadily. Healthcare workers have adopted various communication channels, such as chats, emails, phones, and video calls, to provide remote treatment to patients, preventing the spread of the virus. This has led to an increase in the use of penetration testing tools to secure online transactions and conversations. Additionally, many organizations have adopted penetration testing software to enhance security during the chaotic pandemic environment, further contributing to the market's growth.

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