The crowdsourced penetration testing market offers several benefits and advancements. It leverages a diverse pool of ethical hackers to identify vulnerabilities, providing comprehensive assessments. This approach allows for frequent and cost-effective testing, enhancing security agility. Furthermore, advancements in automation and machine learning assist in scaling testing efforts, reducing time and resource requirements. Real-time reporting and immediate threat mitigation are additional advantages, offering proactive security. As a result, organizations can stay ahead of evolving cyber threats, ensuring robust protection for their digital assets.
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Data Bridge Market Research analyses that the Asia-Pacific 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. As cyberattacks become more frequent and complex, adopting proactive measures to detect and address vulnerabilities before they are exploited is crucial. Timely identification and mitigation are essential for maintaining robust cybersecurity defenses.
Key Findings of the Study
Regulatory compliance is expected to drive the market's growth rate
The crowdsourced penetration testing market benefits significantly from regulatory demands in finance and healthcare sectors. These industries handle sensitive data and are subject to strict compliance standards. Crowdsourced pen testing offers a cost-effective way to meet these requirements, ensuring data protection, system integrity, and compliance. It provides on-demand, comprehensive testing solutions that align with regulatory needs, making it an attractive choice for organizations seeking to maintain security while adhering to industry-specific regulations.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
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Market Players Covered
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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.)
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Data Points Covered in the Report
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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.
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Segment Analysis:
The Asia-Pacific crowdsourced pen testing market is segmented on the basis of type, deployment model, organization size, and end-user.
- On the basis of type, the Asia-Pacific crowdsourced pen testing market is segmented into web application, mobile, and others.
- On the basis of deployment model, the Asia-Pacific crowdsourced pen testing market is segmented into on-premises and cloud.
- On the basis of organization size, the Asia-Pacific crowdsourced pen testing market is segmented into large enterprises and small and medium-sized enterprises (SMEs).
- On the basis of end-user, the Asia-Pacific crowdsourced pen testing market is segmented into IT and telecom, banking finance insurance and service (BFSI), retail, healthcare, hospitality, media and entertainment, and transport.
Major Players
Data Bridge Market Research recognizes the following companies as the Asia-Pacific crowdsourced pen testing market players Asia-Pacific 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).
Market Developments
- In 2020, Applause App Quality, Inc. unveiled an integrated functional testing solution that seamlessly combines automated and manual testing methods. This innovation significantly contributes to improving data quality. Furthermore, introducing this new product enhances the company's market presence and strengthens its portfolio, positioning it more competitively within the industry.
- In May 2021, NRI Australia acquired Planit as part of its Vision 2022 strategy to bolster capabilities and extend its global footprint. This strategic move enhances NRI's presence in the crowdsourced penetration testing market. The acquisition allows NRI to offer comprehensive testing services and solutions, catering to the increasing demand for robust cybersecurity assessments, aligning with their Vision 2022 objectives.
- In April 2022, Rapid7, a prominent security analytics and automation provider, established the Rapid7 Cybersecurity Foundation, funded with an initial $1 million from the company. The foundation's mission is to bridge the security achievement gap by increasing access to cybersecurity resources, especially for underrepresented and underserved communities. This initiative aims to promote diversity and accessibility within the cybersecurity field, potentially impacting the crowdsourced penetration testing market by fostering a more inclusive industry landscape.
Regional Analysis
Geographically, the countries covered in the Asia-Pacific crowdsourced pen testing market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
As per Data Bridge Market Research analysis:
China is the dominant region in Asia-Pacific crowdsourced pen testing market during the forecast period 2023-2030
China's dominant position in the crowdsourced penetration testing market can be attributed to the escalating concerns of organizations regarding data security. With the increasing shift of data to the cloud, there is a heightened need for robust security assessments, making penetration testing services more crucial than ever. This has led to China securing a significant market share both in terms of revenue and market influence.
India is expected to dominate the Asia-Pacific crowdsourced pen testing market in the forecast period 2023-2030
India is expected to dominate the crowdsourced penetration testing market as it holds the largest market share in cloud services. The growing internet user base in the country has spurred demand for cloud services, leading to heightened concerns about data security. Consequently, there is an increased need for penetration testing to safeguard cloud environments, making India a key player in this market.
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