Market Size of Penetration Testing Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.25 Billion |
| Market Size (2029) | USD 12.76 Billion |
| CAGR (2024 - 2029) | 24.59 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Penetration Testing Market Analysis
The Penetration Testing Market size is estimated at USD 4.25 billion in 2024, and is expected to reach USD 12.76 billion by 2029, growing at a CAGR of 24.59% during the forecast period (2024-2029).
- The increasing number of cyber-attacks, coupled with the growing need to meet compliance measures, is anticipated to be a growth driver for the global penetration testing market during the forecast period.
- The increasing demand for the protection of software-based properties such as mobile and web applications is anticipated to boost the growth of the global penetration testing market. Additionally, the increasing use of cloud-based security solutions is expected to fuel the demand for penetration testing. This, in turn, is anticipated to foster the growth of the global penetration testing market. Moreover, the increasing digitization in developing countries is expected to increase the trend of Internet of Things (IoT)-based connected devices. This, in turn, drives the demand for penetration testing.
- The growing internet activities globally, coupled with the increased security compulsion, are driving the market growth of the global penetration testing market during the forecast period.
- Moreover, an increasing number of wireless networks and the growing number of connected devices are also generating demand for penetration testing across various industry verticals. However, the lack of skilled personnel and awareness in various developing and underdeveloped countries is likely to restrain the growth of the penetration testing market during the forecast period.
- Also, during Covid-19, businesses worldwide faced challenges in terms of carrying out operations due to the widespread closure of workplaces and other facilities. The danger of cyberattacks is growing as people use technology more and more to remain in touch and run their companies effectively, particularly during the pandemic. Due to this, the need for cutting-edge digital networks increased dramatically.
- Employees are accessing business networks and data using their devices that need to be adequately secure due to the growing trend of working from home (WFH), which exposes exploitable weaknesses to cyberattacks. Additionally, many companies have created and updated their current web- and mobile-based apps due to the increased adoption of digital transformation to meet the growing demand for customers to shop online, opening up possibilities for cyberattacks. The adoption of hybrid working methods by numerous sectors may increase the demand for vulnerability testing in the short term.
