+91-8668442535

Penetration Testing As A Service (PTaaS) Market By Service Type (Professional Services, Managed Services) By Organization Type (Large Enterprise, SMEs) By Type (Web Applications, Mobile Applications, Network Infrastructure, Cloud, Social Engineering) By Deployment (On-cloud, On-premise) By End Users (BFSI, Healthcare, IT and ITES, Telecommunications, Retail and Ecommerce, Manufacturing, Education, Others) - Growth, Future Prospects & Competitive Analysis, 2016 – 2028

About this report

The Penetration Testing As A Service (PTaaS) Market report explores the critical analysis of the Penetration Testing As A Service (PTaaS) industry using key parameters. The report consists of investment strategies, the need for investments in the Penetration Testing As A Service (PTaaS) industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the technical regulations for the Penetration Testing As A Service (PTaaS) industry, as well as how economic and non-economic barriers are helping the Penetration Testing As A Service (PTaaS) market. Moreover, the report analyses the regional and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

penetration-testing-as-a-service-ptaas-market

Key Highlights of the report

How are the major segments performing in the Penetration Testing As A Service (PTaaS) Market?

  • In 2021, the professional services category dominated the market. The increasing adoption of IoT-based equipment in industrial applications is boosting data consumption in industries, and as a result, industries are taking the necessary precautions to protect their data from vulnerable cyber-attacks.
  • In 2021, the large enterprise category dominated the market. Large organizations in several verticals demand more control over their data because they are highly regulated and hold more sensitive information than SMEs.
  • In 2021, the mobile applications segment dominated the market. This expansion might be ascribed to the worldwide IT market's increased demand for e-commerce apps such as Amazon and Zomato.
  • In 2021, the on-premise category dominated the market. Organizations have control and flexibility with the on-premises deployment model. Large firms are more likely to employ the on-premises mode.
  • In 2021, the healthcare category dominated the market. Various laws and regulations play an important role in protecting healthcare facilities from cyberattacks and increasing demand for penetration testing as a service (PTaaS) in the healthcare business.

Which region dominated the Penetration Testing As A Service (PTaaS) Market?

In 2021, North America was one of the major contributors to global Penetration Testing as a Service (PTaaS). The high adoption rate of cutting-edge technologies like cloud computing, artificial intelligence, sentiment analytics, and others, along with the growing number of technical advances, are projected to drive market expansion. The need for penetration testing as a service is driven by strict industry rules (PTaaS). To assure further protection, the area is also more likely to employ cutting-edge solutions like penetration testing, security deployment, and vulnerability management tools, providing growth potential for the industry.

What is the competitive environment of the Penetration Testing As A Service (PTaaS) Market?

Increased digitalization-focused government programs and businesses, technological developments and device modernization, and increased R&D activities will expand the penetration testing as a service (PTaaS) market over the forecast period. Product launches are one of the main techniques used by industry players. For instance, in July 2021, HelpSystems partnered with Cybellum, a pioneer in risk assessment tools for automotive cyber security. To ensure the security of the automotive software and compliance with road vehicle norms and regulations, the firms' collaborative solution would include automated security scanning and a thorough vulnerability management analysis across the connected car lifecycle. Similarly, in May 2021, Beyond Security, a leader in automated compliance and vulnerability assessment solutions, was acquired by HelpSystems. To better serve HelpSystems' expanding customer base, this acquisition aims to provide detection across applications, networks, endpoints, and the cloud.

Executive Summary

How has the market for penetration testing as a service (PTaaS) been affected by the increasing use of data centers?

Penetration testing as a service (PTaaS) refers to testing, evaluating, and improving fixed security measures on devices like mobile phones and other information systems. The client, typically the owner of the information system or device, requests penetration, which is frequently accomplished through a third party and is done at the client's request. This kind of testing is helpful since it makes it simple to identify the flaws in a particular device or system and contributes to maintaining the client's reputation and confidence. To ensure a high degree of security in the data center, penetration testing as a service (PTaaS) is crucial. Companies can use this test for security evaluation and audit purposes. Due to high-speed internet access, rising industrial automation, and the growing use of mobile devices, data consumption has dramatically expanded in recent years. The market is experiencing tremendous opportunities due to the increase in data volume. The industrial sector, one of the biggest data generators, is anticipated to promote the growth of colocation data center deployments. Data centers are becoming increasingly important to businesses in this industry as they digitize their processes and offerings. Process and manufacturing sectors embrace industrial IoT to boost operational effectiveness, generate significant data and benefit from penetration testing as a service (PTaaS). As a result, the penetration testing as a service (PTaaS) market is projected to experience growth throughout the forecast period and expand data centers.

Which are the key investments by the players in the Penetration Testing As A Service (PTaaS) Industry Market?

Major players are making significant investments in offering effective services that will make their clients feel protected. For instance, Apple spends around USD 306 million yearly on Amazon's cloud. To assure additional security in a cloud computing platform, numerous government and important business investments fuel the demand for penetration testing as a service (PTaaS).

Some of the major players in the market are Rapid7 (US), Secureworks (US), Synopsys (US), CrowdStrike (US), IBM (US), Coalfire Labs (US), Indium Software (US), Cigniti Technologies Ltd (US), Trustwave (US), Cisco Systems (US), Fortinet (US), Bugcrowd (US), Invicti (US), Hackerone (US), Raxis (US), RSI Security (US), Rhino Security Labs (US), Sciencesoft Limited (US), Portswigger (UK), Netragard (US), Software Secured (Canada), Vumetric Cybersecurity (Canada), Nettitude (UK), Zimperium (US), NowSecure (US), SecurityMetrics (US), NetSPI (US), CovertSwarm (UK), Holm Security (Sweden), Intruder Systems (UK), BreachLock (US), ISECURION (India), and Redbot Security (US).

What are the Major Driving Factors for the Penetration Testing As A Service (PTaaS) Market?

It is projected that the rising demand for compliance measures and the rising frequency of cyberattacks will fuel the expansion of the global penetration testing as a service (PTaaS) market. The global market is expected to increase due to the rising demand for the security of software-based assets, including mobile and web apps. The demand for penetration testing as a service (PTaaS) is also anticipated to rise as cloud-based security solutions are increasingly used. Consequently, it is projected that this will encourage market expansion. The trend of connected devices based on the Internet of Things is also anticipated to grow as digitalization spreads throughout developing nations. The demand for penetration testing as a service (PTaaS) is thus increasing. During the projection period, the global market will develop due to the expanding internet activities worldwide and the growing need for security. Additionally, a growing number of wireless networks and connected devices across numerous industry verticals are driving the demand for penetration testing as a service (PTaaS).

What are the Major Risks for the Penetration Testing As A Service (PTaaS) Market?

The penetration testing as a service (PTaaS) market's expansion is anticipated to be constrained during the forecast period by a lack of skilled labor and awareness in several developing and underdeveloped nations. Additionally, the global market's expansion is hampered by the fact that many impoverished nations are unaware that these tests are available.

Which is the Key End User in the Penetration Testing As A Service (PTaaS) Market?

In 2021, the healthcare category dominated the market. Increased reliance on technology has contributed to an increase in cyberattacks. Even small clients can keep thousands of patients' personal or protected health information. The issues are only exacerbated by the traditional ethos of healthcare organizations, which disregards any suitable cybersecurity solution for its infrastructure and leaves it vulnerable to cyberattacks. When there are numerous attack pathways, estimating the risks to a specific environment may be difficult. The medical sector is the most strictly regulated sector due to the volume and sensitivity of the medical data kept by healthcare organizations. When healthcare facilities break the law, they are subject to heavy fines.

How is the Penetration Testing As A Service (PTaaS) Market performing in regions?

In 2021, the global Penetration Testing As A Service (PTaaS) market was dominated by North America. The organizations in North America have the best business practices for their everyday operations and are incredibly advanced in establishing security, penetration testing, and vulnerability management solutions, resulting in the region's adoption of penetration testing as a service (PTaaS) solutions. Increasing security concerns, the need for regulatory compliance, and the development of cyberattacks are other major factors influencing the increase in demand. Leading contributors to the North American penetration testing as a service (PTaaS) market are the two countries with the strongest economies in the region: the US and Canada.

Besides, the Asia Pacific region is expected to grow significantly over the forecast period due to the region's expanding use of mobile devices. Many nations in this region, including China, Japan, and Australia, use penetration testing as a service (PTaaS) solutions perpetually to guard against breaches of their private information. According to International Data Corporation (IDC) data, Asia-Pacific, including Japan, Australia, and South Korea, is the top region for implementing IoT technology.

What is the regulatory landscape for the Penetration Testing As A Service (PTaaS) Market?

Russian hackers broke into a database used by the US federal government in 2020. Thus, it is anticipated that similar cyber-attacks on government databases will lead to the implementation of numerous restrictions on both the government sector and other sectors. The penetration testing as a service (PTaaS) market is anticipated to expand as a result of recurrent attacks like these on financial institutions on a global scale.

What is the Market Size of Penetration Testing As A Service (PTaaS) regarding value?

The Penetration Testing As A Service (PTaaS) Market is anticipated to grow at a substantial CAGR of 15.4% in the upcoming years. The Penetration Testing As A Service (PTaaS) industry was estimated to be worth USD 398.5 million in 2021 and was expected to be worth USD 941.16 million by 2028.

What effect does COVID-19 have on the market for Penetration Testing As A Service (PTaaS)?

The coronavirus negatively impacted the penetration testing as a service (PTaaS) market. Numerous businesses began operating remotely during the pandemic. Employees were instructed to adhere to the strict COVID-19 epidemic rules, which include avoiding face-to-face interactions and keeping social distance. The need for various cybersecurity solutions and penetration testing as a service (PTaaS) solutions increased as more businesses began digitalizing their operations. Employees were permitted to use company data on their devices, increasing the likelihood of data loss and a breach. These elements are responsible for the constantly increasing demand for penetrating testing as a service (PTaaS).

Segmentation of Penetration Testing As A Service (PTaaS) Market-

Penetration Testing As A Service (PTaaS) Market – By Service Type

  • Professional Services
  • Managed Services

Penetration Testing As A Service (PTaaS) Market – By Organization Type

  • Large Enterprise
  • SMEs

Penetration Testing As A Service (PTaaS) Market – By Type

  • Web Applications
  • Mobile Applications
  • Network Infrastructure
  • Cloud
  • Social Engineering

Penetration Testing As A Service (PTaaS) Market – By Deployment

  • On-cloud
  • On-premise

Penetration Testing As A Service (PTaaS) Market – By End Users

  • BFSI
  • Healthcare
  • IT and ITES
  • Telecommunications
  • Retail and E-commerce
  • Manufacturing
  • Education
  • Others

Penetration Testing As A Service (PTaaS) Market – By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Frequently asked questions about the Penetration Testing As A Service (PTaaS) industry 

COVID-19 is expected to negatively affect the Penetration Testing As A Service (PTaaS) market.

North America accounted for the highest share of the Penetration Testing As A Service (PTaaS) market.

The rising demand for compliance measures and the rising frequency of cyberattacks will fuel the expansion of the global penetration testing as a service (PTaaS) market.

The professional services segment had a major share in 2021, with more than 60% of the market revenue share.

The mobile application segment had a major share in 2021, with more than 40% of the market revenue share.

Penetration Testing As A Service (PTaaS) Market Scope

Report Attribute Details
Market Value in 2021 USD 398.5 million
Market Value in 2028 USD 941.16 million
CAGR 15.4%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
Choose License Type
Trusted By
Godaddy
Published Date:  Oct 2022
Category:  Technology & Media
Report ID:   60729
Report Format:   PDF
Pages:   120
Rating:    4.6 (60)
Delivery Time: 24 Hours to 48 Hours   
Connect With Us
+91-8668442535
24/7 Research Support