According to The Insight Partners market research study on “Europe Penetration testing software Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Enterprise Size, and Application” is expected to reach US$ 1,170.67 million by 2028 from 440.17 US$ million in 2021. The market is estimated to grow at a CAGR of 15.0% from 2021 to 2028. The report provides trends prevailing in the Europe penetration testing software market along with the drivers and restraints pertaining to the market growth. Stringent rules and compliance requirements to necessitate use of penetration testing software is the major factor driving the growth of the Europe penetration testing software market. However, issues associated with high cost of performing penetration test hinders the growth of Europe penetration testing software market.
The Europe penetration testing software market is segmented based on type, enterprise size, application, and country. Based on type, the Europe penetration testing software market is segmented into cloud based and on-premises. The cloud-based segment led the market in 2020. Based on enterprise size, the Europe penetration testing software market is segmented into large enterprises and SMEs. The large enterprises segment led the market in 2020. In terms of application, the penetration testing software market is segmented into web application, network infrastructure, mobile application, social engineering, and others. The web application segment led the market in 2020. Based on country, the Europe penetration testing software market is segmented into France, Germany, Italy, UK, Russia, and rest of Europe. Germany held the largest market share in 2020.
During the projection period, COVID-19 had a substantial impact on the penetration testing software Market in Europe. COVID-19 cases have been reported in many European countries, including Italy, Spain, France, and Germany, with Italy being the most affected. After China, the WHO has designated Europe to be the new hub of the epidemic, citing 50,000+ deaths. Many businesses are using goodwill services as a strategy to retain and acquire customers during this crisis. They are primarily providing protection solutions and services against phishing attacks that primarily target Italian email addresses and contain malicious Microsoft Office documents with Trickbot, as well as banking Trojans that steal victims' confidential information. As a result, the market for penetrating testing software is expected to remain unaffected by COVID-19.
Acunetix; HackerOne; HelpSystems; Intruder Systems Ltd; Netsparker; Pentest-Tools; Rapid7; and Veracode, Inc. are among the leading companies in the Europe penetration testing software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Agari which is the prominent leader in protecting advanced email threats, and in providing enterprise solutions had been acquired by HelpSystems. Agari’s Software as a Service (SaaS) offering, which sets the standard for defending enterprises against phishing, corporate email compromise, and email threats, has witnessed significant growth. The company has built a strong product portfolio with this acquisition.
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