14.4% CAGR, Penetration Testing Software Market to hit $ 4,045.2 Million, Globally by 2028: The Insight Partners

Penetration Testing Software Market Size to reach $4,045.2 Million by 2028, Fuelled by Rise in Penetration of Internet and Cloud-Based Services

NEW YORK, UNITED STATES, January 25, 2022 /EINPresswire.com/ -- According to our latest market study on “Penetration Testing Software Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Enterprise Size and Application,” the market was valued at US$ 1,580.4 million in 2021 and is projected to reach US$ 4,045.2 million by 2028; it is expected to grow at a CAGR of 14.4% from 2021 to 2028.

Cloud-based penetration testing, also known as penetration testing-as-a-service, is becoming more popular in the cybersecurity business (PTaaS). PTaaS gives IT professionals the tools to do continuous penetration testing and act on the results. It entails a never-ending cycle of testing and correction. This continual cycle of testing and remediation in a PTaaS demonstrates that an ongoing testing and management program is required to battle the company's shifting security posture. Continuous security management, frequent vulnerability scanning, and automatic track changes feature enable traceability of application security improvements with PTaaS. One of the most significant advantages of outsourcing penetration is keeping up with the latest tools and cyber trends in the market

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Market Size Value in - US$ 1,580.4 million in 2021
Market Size Value by - US$ 4,045.2 million by 2028
Growth rate - CAGR of 14.4% from 2021 to 2028
Forecast Period - 2021-2028
Base Year - 2021
No. of Pages - 162
No. Tables - 88
No. of Charts & Figures - 83
Historical data available - Yes
Segments covered - Type, Enterprise Size, and Application
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Impact of COVID-19 Pandemic on Penetration Testing Software Market
While the Covid-19 pandemic has posed significant issues for organizations around the world, the penetration testing software market has grown steadily during the crisis. Most crucially, throughout the epidemic, healthcare workers have moved to use chats, emails, phones, and video conversations to treat patients remotely, preventing the deadly coronavirus from spreading. The use of penetration testing tools for safe online transactions and conversational data increased as a result of this. The adoption of penetration testing software market by various firms to give optimal security during a chaotic environment is also a crucial element driving the penetration testing software market's vertical rise.

Download the Latest COVID-19 Analysis on Penetration Testing Software Market Growth Research Report at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00016046?utm_source=EINPressWire&utm_medium=10051

Increasing Trends of Penetration Testing-as-a-Service (PTaaS) and Remote Working Security
Cloud-based penetration testing, also known as penetration testing-as-a-service, is becoming more popular in the cybersecurity business (PTaaS). PTaaS gives IT professionals the tools to do continuous penetration testing and act on the results. It entails a never-ending cycle of testing and correction. This continual cycle of testing and remediation in a PTaaS demonstrates that an ongoing testing and management program is required to battle the company's shifting security posture. Continuous security management, frequent vulnerability scanning, and automatic track changes feature enable traceability of application security improvements with PTaaS. One of the most significant advantages of outsourcing penetration is keeping up with the latest tools and cyber trends in the market. Following the outbreak of COVID-19, businesses worldwide embraced a cloud-based remote work culture. Many employees have begun accessing company data via insecure personal devices such as laptops, tablets, PCs, and cellphones, opening the door to attackers. As a result, remote working environments must be secured through remote security assessments. According to industry experts, several organizations have plans to continue working from home long after the pandemic has passed. In the future, this is projected to open up several prospects for PTaaS and remote working security evaluations, which would drive the demand for penetration testing software.

The global penetration testing software market is expected to grow during the forecast period due to factors such as the rise in internet activities across the globe and increase in security compulsion. The number of internet users is growing by the day, which increases the rate of cybercrimes and creates a need to protect personal information. In this approach, the computer system's flaws that could have been exploited can be identified. Penetration testing software market aid in the detection of security flaws before third parties use them. Therefore, the unethical practices related to cybercrime propel the growth of the market.

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Strategic Insights:
The penetration testing software market players focus on new product innovations and developments by integrating advanced technologies and features to compete. For instance, Invicti Security, a global pioneer in application security testing, inked a definitive deal for a $625 million investment with Summit Partners, a global growth equity firm. The new funding will aid Invicti’s continuous growth and product development ambitions. Summit will partner with Turn/River Capital, which made its initial investment in Invicti in 2017. Both these company are forecasted to be a key stakeholder to build strong strategic alliance.

Browse Related Reports:

Penetration Testing Market Forecast to 2028 - COVID-19 Impact and Global Analysis
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Security Assessment Market Forecast to 2028 - COVID-19 Impact and Global Analysis
https://www.theinsightpartners.com/reports/security-assessment-market

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