Vulnerability Assessment and Penetration Testing Market Poised for Growth: 2024-2030 Outlook

PUNE, India - Feb. 19, 2024 - PRLog -- The global market for Vulnerability Assessment and Penetration Testing (VAPT) is expected to witness significant growth, reaching a projected value of US$ 23.2 billion by 2030. This represents a steady increase from its 2023 valuation of US$ 15 billion, with a CAGR of 7.5% over the forecast period.

Key Drivers:

• Rising cyberattacks and data breaches: The increasing frequency and sophistication of cyberattacks are driving organizations to prioritize cybersecurity measures, including VAPT services.
• Growing awareness of cyber risks: Businesses and governments are becoming more aware of the potential financial and reputational damage caused by cyberattacks, leading them to invest in proactive security solutions.
• Stringent regulations: Data privacy regulations like GDPR and CCPA are mandating organizations to implement robust security practices, including regular vulnerability assessments and penetration testing.
• Technological advancements: The emergence of new technologies, such as cloud computing and the Internet of Things (IoT), creates new attack surfaces for cybercriminals, fueling the demand for VAPT services.

Market Players:

Leading players in the VAPT market include established consulting firms like Deloitte, EY, PwC, and KPMG, as well as technology vendors like IBM, Accenture, and Rapid7. Specialized VAPT companies like Mandiant and Qualys are also gaining traction.

Market Segmentation:

The VAPT market can be segmented by type (vulnerability assessment, penetration testing), application (government, finance, healthcare), and region. The vulnerability assessment segment is expected to hold a larger market share due to its preventive nature. The finance and healthcare sectors are projected to witness the highest growth due to their high sensitivity to data breaches.

Regional Trends:

North America and Europe are expected to remain the dominant markets due to their mature cybersecurity practices and stringent regulations. However, Asia Pacific is expected to experience the fastest growth due to its rapidly developing economies and increasing internet penetration.

Overall, the VAPT market is poised for significant growth in the coming years, driven by the rising threat of cyberattacks, growing awareness of cyber risks, and the need for compliance with data privacy regulations.

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