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Penetration Testing as-a-Service Market Share

Report ID: GMI11753
Published Date: Oct 2024
Report Format: PDF

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Penetration Testing as-a-Service Market Share

IBM Corporation, Qualys, Inc., and HackerOne collectively held a substantial market share of over 10% in the penetration testing as-a-service industry in 2023. IBM plans to integrate its AI-driven Watson platform and cloud infrastructure with PTaaS for automated, real-time threat detection and remediation. This AI-powered penetration testing will enhance IBM's speed and accuracy, particularly benefiting large enterprises. By bundling PTaaS with its extensive security services like IBM Security QRadar and Guardium, IBM aims to offer comprehensive end-to-end security solutions for enterprise clients.

Qualys leverages its cloud-based platform by combining continuous vulnerability assessment tools with penetration testing, providing a holistic view of enterprise security risks. This "always-on" approach, supported by its cloud infrastructure, extends security assessments beyond periodic tests. With scalable pricing models, including subscriptions and pay-per-test options, Qualys targets SME seeking flexible, cost-effective security solutions without significant internal resources.

HackerOne continues to emphasize its crowdsourced testing model, utilizing ethical hackers for thorough real-world penetration tests. This approach identifies hidden vulnerabilities that automated tools may miss. By offering tailored bug bounty programs, HackerOne enables organizations in high-stakes sectors like financial services, SaaS platforms, and critical infrastructure to incentivize ethical hackers to find vulnerabilities.

Penetration Testing As-a-Service Market Companies

Major players operating in the penetration testing as-a-service industry are:

Appsecure Security
Armor Defense Inc.
ASTRA IT, Inc.
HackerOne
IBM Corporation
Qualys, Inc.
Rapid7
SecureWorks
Tenable
Trustwave Holdings, Inc.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of penetration testing as-a-service reached USD 1.6 billion in 2023 and is set to grow at a 17.6% CAGR from 2024 to 2032, driven by escalating cyber threats and attack sophistication.

The network penetration testing segment accounted for over 25% of the market share in 2023 and is projected to exceed USD 1.5 billion by 2032, due to the integration of real-world adversary simulations based on current threat intelligence.

The cloud-based segment held around 65% of the market share in 2023, as organizations adopting DevOps and agile methodologies shift towards continuous penetration testing.

The U.S. market is anticipated to cross USD 2 billion by 2032, led by the transition from periodic to continuous penetration testing services.

The key players in the industry include Appsecure Security, Armor Defense Inc., ASTRA IT, Inc., HackerOne, IBM Corporation, Qualys, Inc., Rapid7, SecureWorks, Tenable, and Trustwave Holdings, Inc.