According to The Insight Partners market research study on “North America 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$ 1,635.87 million by 2028 from 661.01 US$ million in 2021. The market is estimated to grow at a CAGR of 13.8% from 2021 to 2028. The report provides trends prevailing in the North America penetration testing software market along with the drivers and restraints pertaining to the market growth. Significant growth in penetration of internet and cloud-based services is the major factor driving the growth of the North America penetration testing software market. However, issues associated with high cost of performing penetration test hinders the growth of North America penetration testing software market.
The North America penetration testing software market is segmented based on type, enterprise size, application, and country. Based on type, the North America 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 North America 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 North America penetration testing software market is segmented into US, Canada, and Mexico. US held the largest market share in 2020.
In terms of the impact of COVID-19 on penetration testing software throughout the key verticals, North America had the biggest market share. COVID-19 has had a significant impact on the North American region due to a high number of immigrants traveling through the region, the lack of an initial stage lockdown in the country, and the presence of a large number of virus carriers in the country at the same time, spreading the disease rapidly. The IT industry in the region is dominated by two countries: the United States and Canada. The Covid-19 pandemic has hastened the shift to a work-from-home model, which has increased penetration testing in this enterprise environment. Hence, the penetration testing software business has benefited from COVID-19, as the presence of two large economies, the United States and Canada, in the region, wide-scale internet usage, and the presence of major penetration testing software providers in the region have all contributed to the North American region becoming a major adopter of penetration testing solutions and services.
Acunetix; Bugcrowd; Defendify; HackerOne; HelpSystems; Netsparker; Rapid7; and Veracode, Inc. are among the leading companies in the North America 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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