CHICAGO, July 15,
2024 /PRNewswire/ -- The global Penetration
Testing as a Service Market size is projected to grow from
USD 118 million in 2024 to
USD 301 million by 2029 at a CAGR of
20.5% during the forecast period, according to a new report by
MarketsandMarkets™. The PTaaS Market is primarily driven by
increasing cyber threats and security breaches, regulatory and
compliance requirements, digital transformation by adopting cloud
services and IoT devices, and a shift towards remote work.
Browse in-depth TOC on "Penetration Testing as a Service
Market"
362 – Tables
44 - Figures
303 – Pages
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Scope of the Report
Report
Metrics
|
Details
|
Market size available
for years
|
2019-2029
|
Base year
considered
|
2023
|
Forecast
period
|
2024–2029
|
Forecast
units
|
Value (USD
Million)
|
Segments
Covered
|
Offerings, Organization
Size, Testing Type, Vertical, and Region
|
Geographies
covered
|
North America, Europe,
Asia Pacific, Middle East and Africa, and Latin
America
|
Companies
covered
|
Major vendors in the
global PTaaS Market include Synack (US), HackerOne (US), Synopsys
(US), Intervision (US), Edgescan (Ireland), Bugcrowd (US),
Guidepoint Security (US), Trustwave (US), Cobalt (US), NetSPI (US),
Veracode (US), Yogosha (France), Software Secured (Canada), Raxis
(US), Vumetric Cybersecurity (Canada), Nowsecure (US), Breachlock
(US), Astra Security (India), Strobes Security (US), Pentest People
(UK), Rootshell Security (UK), SafeAeon (US), Immuniweb
(Switzerland), and Cyberhunter Solutions
(Canada).
|
Further, the opportunities in the PTaaS Market are spurred by
technological advancements and automation, expansion into new
verticals, and alignment of PTaaS with DevSecOps practices.
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By offering segment, PTaaS solutions will grow at the highest
CAGR during the forecasted period.
Due to several key factors, the solution segment is anticipated
to have the highest CAGR in the PTaaS Market during the forecasted
period. Firstly, organizations are growing aware of the critical
need to identify and address security vulnerabilities proactively.
Such awareness drives demand for advanced penetration testing
solutions that simulate real-world cyberattacks and provide
comprehensive insights into security gaps. Additionally,
technological advancements and AI and machine learning integration
in these solutions enhance their effectiveness and efficiency,
making them more attractive to enterprises. Moving ahead, the
increasing regulatory requirements and compliance standards across
various industries are pushing companies to adopt robust security
solutions to safeguard their data and infrastructure. Moreover, the
scalability and flexibility of these solutions allow businesses of
all sizes to customize their security measures according to their
specific needs, further boosting the adoption of PTaaS solutions.
These factors collectively contribute to the growing adoption and
development of PTaaS solutions.
The large enterprises segment holds the largest market size
during the forecast period in terms of organization size.
The large enterprises segment of the PTaaS Market is anticipated
to achieve the largest market size in the forecasted period. This
is because large enterprises typically possess more complex and
extensive IT infrastructures, making them prime targets for
cyberattacks. Such complexity necessitates comprehensive and
sophisticated penetration testing services to identify and mitigate
vulnerabilities effectively. Additionally, large enterprises are
more likely to have substantial budgets for cybersecurity measures,
allowing them to invest in advanced PTaaS solutions. Moreover,
these organizations often operate in highly regulated industries
such as finance, healthcare, and telecommunications, where
stringent compliance requirements mandate regular and thorough
security assessments. Furthermore, the higher stakes associated
with data breaches and cyber incidents in large enterprises drive a
more proactive and robust approach to security, reinforcing the
demand for PTaaS. The combination of these factors ensures that
large enterprises dominate the market size in the PTaaS Market
segmented by organization size.
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By region, the Asia Pacific
market will grow at the highest CAGR during the forecast
period.
The Asia Pacific region is
projected to experience the highest CAGR in the PTaaS Market,
driven by several compelling reasons. Firstly, the region is
witnessing rapid digital transformation across various industries,
including finance, healthcare, and e-commerce, significantly
increasing the demand for robust cybersecurity measures.
Additionally, the rising number of cyberattacks and data breaches
in the region has heightened awareness among organizations about
the importance of penetration testing to safeguard their digital
assets. Moreover, government initiatives and regulations to
strengthen cybersecurity frameworks in countries like China, India,
and Japan propel the adoption of
PTaaS solutions. The growth of SMEs and startups in the region,
coupled with their increasing reliance on digital platforms, also
contributes to the surge in demand for penetration testing
services. Furthermore, the presence of a large and diverse IT
services industry, along with continuous advancements in
technology, enhances the region's capability to adopt and integrate
sophisticated PTaaS solutions, driving its exceptional growth in
the market.
Top Key Companies in Penetration Testing as a
Service Market:
Synack (US), HackerOne (US), Synopsys (US), Intervision (US),
Edgescan (Ireland), Bugcrowd (US),
Guidepoint Security (US), Trustwave (US), Cobalt (US), NetSPI (US),
Veracode (US), Yogosha (France),
Software Secured (Canada), Raxis
(US), Vumetric Cybersecurity (Canada), Nowsecure (US), Breachlock (US),
Astra Security (India), Strobes
Security (US), Pentest People (UK), Rootshell Security (UK),
SafeAeon (US), Immuniweb (Switzerland), and Cyberhunter Solutions
(Canada) are the key players and
other players in the PTaaS Market.
Browse Adjacent Market: Information Security Market
Research Reports & Consulting
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Identity Security Posture Management (ISPM) Market -
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Application Security Market- Global Forecast to
2029
Critical Infrastructure Protection Market- Global
Forecast to 2029
Phishing Protection Market- Global Forecast to
2028
Managed SIEM Services Market- Global Forecast to
2028
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a Service Companies and Penetration Testing as a Service
Industry
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