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

Penetration Testing Software Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Banknote Sorter and Coins Sorter), Application (Bank, Supermarkets, and Others), and Geography

  • Report Code : TIPRE00016046
  • Category : Technology, Media and Telecommunications
  • No. of Pages : 150
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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

penetration-testing-software-market
Market Size Value inUS$ 1,580.4 million in 2021
Market Size Value byUS$ 4,045.2 million by 2028
Growth rateCAGR of 14.4% from 2021 to 2028
Forecast Period2021-2028
Base Year2021
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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 Report Scope

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.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Enterprise Size, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Which are the leading players operating in the penetration testing software market?

The key players holding majority shares in the global penetration testing software market are Veracode, Inc., Rapid7, Defendify, Acunetix, Bugcrowd, HackerOne, Intruder System Ltd, Netsparker, Pentest-Tools, HelpSystems.

What are the future trends of the penetration testing software market?

The emergence of artificial intelligence and machine learning is anticipated to drive the market in the forecast period.

What are the driving factors impacting the penetration testing software market?

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 some of the factors driving the penetration testing software market.

Which region dominated the penetration testing software market in 2023?

North America is anticipated to dominate the penetration testing software market in 2023.

What would be the estimated value of the penetration testing software market by 2031?

The global penetration testing software market is expected to reach US$ 5.85 billion by 2031.

What is the expected CAGR of the penetration testing software market?

The expected CAGR of the penetration testing software market is 15.3%.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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