Penetration Testing Software Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031

The penetration testing software market size is projected to reach US$ 5.85 billion by 2031 from US$ 1.87 billion in 2023. The market is expected to register a CAGR of 15.3% during 2023–2031. The rise in penetration of internet and cloud-based services and increasingly stringent rules and compliance requirements to necessitate the use of penetration testing software are likely to be the key trends and drivers for the penetration testing software market.

Penetration Testing Software Market Analysis

The penetration testing software market is experiencing significant growth globally. This growth is attributed to the rise in penetration of internet and cloud-based services and increasingly stringent rules and compliance requirements to necessitate the use of penetration testing software. Moreover, increasing trends of penetration testing-as-a-service and remote working security and the emergence of artificial intelligence and machine learning-enabled deployment models are anticipated to hold several opportunities for the market in the coming years.

Penetration Testing Software Market Overview

Penetration testing (or pen testing) is a security exercise where a cyber-security expert attempts to find and exploit vulnerabilities in a computer system. The purpose of this simulated attack is to identify any weak spots in a system’s defenses that attackers could take advantage of.

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Penetration Testing Software Market: Strategic Insights

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Penetration Testing Software Market Drivers and Opportunities

Increasing Penetration of Internet and Cloud-Based Services to Favor Market.

The Internet provides an almost endless list of services: it enables communication and collaboration worldwide, sends money internationally (including remittances), learns and educates others, forms cross-border social connections, shares news, and many others. 63% of the world's population were online in 2023 as the internet penetration is increasing the possibility of vulnerability and phishing attacks. The goal of network penetration testing is to reveal and identify any vulnerabilities within the organization. This includes doing an in-depth evaluation of network security measures through external tests and internal tests, such as web application testing and mock phishing attacks. Thus, considering the above parameters, the increasing parameters of internet and cloud-based services are driving the market.

Increasing use of penetration testing-as-a-service.

PTaaS is a method of penetration testing that brings together manual and human testing on a cloud delivery platform to enable IT professionals to complete point-in-time and continuous penetration tests. The use of PaaS is increasing as it allows organizations to identify and address vulnerabilities without the need for extensive manpower. Moreover, many other companies are engaged in the launch of PaaS, which drives the market. For instance, in March 2024, Bishop Fox announced its Cosmos Application Penetration Testing (CAPT) service that combines pen testing with on-demand assessment and analysis services. Thus, considering the above parameters, the increasing use of penetration testing-as-a-service is anticipated to drive the market in the coming years.

Penetration Testing Software Market Report Segmentation Analysis

Key segments that contributed to the derivation of the penetration testing software market analysis are type, enterprise size, and application.

• Based on type, the penetration testing software market is divided into cloud-based and on-premises. The cloud-based segment is anticipated to hold a significant market share in the forecast period.  
• Based on enterprise size, the penetration testing software market is divided into large enterprises and SMEs. The large enterprises segment is anticipated to hold a significant market share in the forecast period.
• By application, the market is segmented into web applications, network infrastructure, mobile applications, social engineering, and others. The web application is anticipated to hold a significant market share in the forecast period.  

Penetration Testing Software Market Share Analysis by Geography

The geographic scope of the penetration testing software market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the penetration testing software market. The North America market is segmented into US, Canada, and Mexico. The market is experiencing a significant growth. This growth is attributed to the rise in penetration of internet and cloud-based services and increasingly stringent rules and compliance requirements in the region to necessitate the use of penetration testing software. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of penetration-testing software market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the penetration testing software market.

Penetration Testing Software Market Regional Insights

The regional trends and factors influencing the Penetration Testing Software Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Penetration Testing Software Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Penetration Testing Software Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Penetration Testing Software Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Penetration Testing Software Market are:

1. Veracode, Inc.
2. Rapid7
3. Defendify
4. Acunetix
5. Bugcrowd
6. HackerOne

Disclaimer: The companies listed above are not ranked in any particular order.

Penetration Testing Software Market News and Recent Developments

The penetration testing software market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the penetration testing software market are listed below:

• Pentera announced the general availability of Pentera Cloud as part of its automated security validation platform to complement its renowned Pentera Core and Surface products. (Source: Pentera Company Website, March 2024)
• Mitsubishi Electric Corporation announced that it has developed the world's first penetration-test2 support tool, CATSploit, which automatically generates attack scenarios based on the test objectives of a penetration tester, such as the theft of confidential information, to evaluate the effectiveness of test attacks. (Source: Mitsubishi Electric Corporation Company Website, December 2023)

Penetration Testing Software Market Report Coverage and Deliverables

The “Penetration Testing Software Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Penetration testing software market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
• Penetration testing software market trends as well as market dynamics such as drivers, restraints, and key opportunities.
• Detailed PEST/Porter’s Five Forces and SWOT analysis.
• Penetration testing software market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the penetration testing software market.
• Detailed company profiles.