Asia-Pacific Crowdsourced Pen Testing Market – Industry Trends and Forecast to 2030

Asia-Pacific Crowdsourced Pen Testing Market, By Type (Web Application, Mobile and Others), Deployment Model (On-Premises and Cloud), Organization Size (Large Enterprises and Small and Medium-Sized Enterprises (SMEs)), End-User (IT and Telecom, Banking Finance Insurance and Service (BFSI), Retail, Healthcare, Hospitality, Media and Entertainment and Transport) – Industry Trends and Forecast to 2030.

North America Crowdsourced Pen Testing Market Analysis and Size

Since a few years ago, the security sector has shifted increasingly towards crowdsourcing penetration testing to address the over 3.5 million cybersecurity posts expected to go unfulfilled by 2021. The ability to efficiently and effectively test multiple assets in an organization's expanding attack surface is made possible by the growing demand for cybersecurity platforms from various industries, which is expected to fuel the growth of the global market for crowdsourced test testing throughout the forecast period.

Data Bridge Market Research analyses that the crowdsourced pen testing market is expected to reach USD 219.55 million by 2030, which is USD 93.90 million in 2022, registering a CAGR of 11.20% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

North America Crowdsourced Pen Testing Market Scope and Segmentation

Market Definition

Pen tests and ethical hacking are other terms for crowdsourced security testing. To assess a system's security, it is permissible to simulate cyberattacks on Internet of Things (IoT) devices, software, networks, online applications, and users. For several testing projects, the crowdsourcing platform links manual testers from all over the world. It is not a replacement for internal testing but allows engineers to test their software in real-time and in a realistic setting.

North America Crowdsourced Pen Testing Market Dynamics

Drivers

• Increasing need to avoid security breaches

The company's security flaws could result in the loss of millions of dollars. For instance, the cost of a data breach in the United States is the highest for the 12th consecutive year, at over USD 4 million higher than the global average. So, minimizing security breaches is crucial if you want to save money. As a result, crowdsourced pen testing could be used to identify vulnerabilities and address them before they cause system security breaches.

• Large benefits of  crowdsourced pen testing as compared to conventional crowdsourced pen testing methods

Compared to conventional crowdsourced pen testing methods, crowdsourced pen testing has several benefits, including faster test development and time restrictions. The above characteristic demonstrates that crowdsourced programs are limitless and open-ended, essentially converting to a continuous pen test but only providing appropriate incentives. Recent crowdsourced engagements that had previously depended solely on pen-testing have successfully identified crucial vulnerabilities in the most popular websites. As a result of all these factors, increase the demand for crowdsourced pen testing will likely drive market growth.

Opportunities

• Growing penetration of mobile devices or smartphones

Mobile devices are now increasingly more prevalent in daily life. The epidemic increased the penetration of smartphones and is likely to do so further. This means that customers are using the internet more frequently, utilizing more services like financial technology platforms, and generally exposing themselves to more information technology service providers and data security risks. As a result, crowdsourced pen testing is a crucial component of contemporary services since it can assess digital infrastructure and thwart dangerous threats.

• Increasing launches of the product by major market players

Surging product launches by major market players will create immense opportunities for market growth during the forecast period. For instance, in 2018, to address the evolving security requirements of today's enterprises, Bugcrowd introduced Bugcrowd next-gen pen test. The next-generation pen test disrupts the current industry with three key differentiators: continuous coverage, tested pen testers, Whitehat hackers, and SDL integrations. Next-gen pen test leverages the best-crowdsourced security approach to take pen tests to the next level. The company got a competitive edge in the industry thanks to the product launch.

Restraints/ Challenges

• High cost associated with crowdsourced pen testing Solutions

Crowdsourced pen testing comes at a significant expense. This expense might vary depending on the scope, organization size, and complexities. However, not all businesses could afford the fees, hence further decreasing the frequency of tests than required. Thus, this factor is anticipated to hamper the market's growth during the forecast period.

• Disadvantages associated with crowdsourced pen testing

Crowdsourced pen testing provides a wide variety of features favoring the market's growth; however, some disadvantages of crowdsourced pen testing are responsible for hampering the market's growth in recent times. If the required tests are not completed correctly may lead to exposing sensitive data, the crash of the servers, corrupt crucial production data. Thus, the abovementioned drawbacks are expected to hamper the market growth in the forecast period.

 This crowdsourced pen testing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the crowdsourced pen testing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In 2020, Applause App Quality, Inc. introduced an integrated functional testing solution. This new solution incorporates existing automated and manual testing, which further aids the organization in increasing the data quality. This new product launch aided the company in strengthening its product portfolio in the market.

Asia-Pacific Crowdsourced Pen Testing Market Scope

The crowdsourced pen testing market is segmented on the basis of type, deployment model, organization size and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Web Application
• Mobile
• Others

Deployment Model

• On-Premises
• Cloud

Organization Size

• Large Enterprises
• Small and Medium-Sized Enterprises (SMEs)

 End-User

• IT and Telecom
• Banking Finance Insurance and Service (BFSI)
• Retail
• Healthcare
• Hospitality
• Media and Entertainment
• Transport

Crowdsourced Pen Testing Market Regional Analysis/Insights

The crowdsourced pen testing market is analyzed and market size insights and trends are provided by country, type, deployment model, organization size and end-user as referenced above.

The countries covered in the crowdsourced pen testing market report China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)

China dominates the crowdsourced pen testing market in terms of revenue and market share because the organizations' concerns about data security have grown due to the rising migration of data to the cloud. Nonetheless, India held the greatest market share for cloud services since more people are using the internet, increasing demand for cloud services. Similarly, Singapore held the greatest market share for cloud services due to the rapid movement of traditional corporate applications to the cloud.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Crowdsourced Pen Testing Market Share Analysis

The crowdsourced pen testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to crowdsourced pen testing market.

Some of the major players operating in the crowdsourced pen testing market are:

• Rapid7 (U.S.)
• Qualitest Group (India)
• HackerOne (Netherlands)
• Planit Testing (Australia)
• Applause App Quality, Inc. (U.S.)
• Bugcrowd (U.S.), Cobalt (India)
• Rainforest Life Pte Ltd. (Singapore)
• Crowdsprint (Australia)
• Synack (U.S.)
• Testbirds GmbH (Germany)
• Crowdsourced Testing SpA (Canada)
• Flatworld Solutions Pvt. Ltd. (India)
• Fortra, LLC (U.S.)
• Checkmarx Ltd. (U.S.)