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3. Top Companies in Penetration Testing as a Service Industry - Breachlock (US), Astra Security (India), HackerOne (US) and Guidepoint Security (US)

The global Penetration Testing as a Service market size is projected to grow from USD 118 million in 2024 to USD 301 million by 2029 at a CAGR of 20.5% during the forecast period. The PTaaS market is driven by the increasing frequency and sophistication of cyberattacks, heightened regulatory and compliance requirements, and the expanding adoption of remote work and digital services. Additionally, the growing complexity of IT infrastructures and the need for specialized cybersecurity expertise are compelling organizations to seek outsourced penetration testing services. The cost-effectiveness and scalability of PTaaS solutions also make them appealing to a wide range of businesses, further fueling market growth.

Penetration Testing as a Service Market Definition

The Penetration Testing as a Service (PTaaS) market refers to the industry segment that provides outsourced penetration testing services through a cloud-based platform, allowing organizations to identify, analyze, and remediate security vulnerabilities in their IT infrastructure, applications, and networks on a recurring or on-demand basis.

Top Penetration Testing as a Service Companies 2024 include

• Breachlock (US)
• Astra Security (India)
• HackerOne (US)
• Guidepoint Security (US) and many more

To know about the assumptions considered for the study download the pdf brochure

HackerOne (US)

HackerOne uses a strategy of leveraging crowd-sourced security and ethical hackers to identify and mitigate vulnerabilities effectively. Such an innovative approach combines the expertise of a vast network of over two million registered security researchers with advanced technology to deliver comprehensive penetration testing services. The company focuses on real-time vulnerability identification, direct communication with pentester, and adherence to stringent compliance standards, ensuring clients meet regulatory obligations and enhance their overall security posture. HackerOne's core competencies lie in its extensive network of ethical hackers, advanced penetration testing technology, and robust compliance framework. The company excels in providing continuous, real-time assessment and actionable insights that significantly reduce client security risks. Its ability to offer direct communication with security researchers and deliver efficient, effective vulnerability management solutions sets HackerOne apart in the PTaaS market.

HackerOne has engaged in various significant activities, such as being named a leader in GigaOm's Radar Report for PTaaS and mentioned in Gartner's Innovation Insight report in 2023. These recognitions reflect the company's substantial growth and prominence in the industry. Additionally, HackerOne's revenue from PTaaS grew by 200% in 2023, highlighting the effectiveness of its services and the increasing demand for its solutions. The company serves notable clients, including the US Department of Defense, General Motors, Microsoft, PayPal, Adobe, Zebra Technologies, and Wind River Systems. HackerOne engages in both vertical and horizontal integration within the cybersecurity sector. Vertically, it integrates comprehensive security services across various layers, from vulnerability identification to compliance management. Horizontally, HackerOne expands its reach by catering to diverse industries, including financial services, government, and federal sectors, ensuring robust security solutions across different verticals. The company's advanced integrations and real-time visibility further enhance its ability to provide efficient and scalable PTaaS solutions to organizations globally.

GuidePoint Security (US)

GuidePoint Security is a leading cybersecurity company renowned for its role as a trusted advisor, guiding organizations through the complexities of cybersecurity to make informed risk decisions swiftly. Specializing in a comprehensive range of services, including PTaaS, the company tailors its solutions to meet each client's unique needs. GuidePoint Security's offerings encompass application security, cloud security services, data security solutions, incident response, threat intelligence, and more, all designed to expose vulnerabilities, optimize resources, and implement best-fit cybersecurity solutions. By leveraging advanced technologies and maintaining stringent compliance with regulatory standards, GuidePoint Security helps organizations across various sectors, including government and Fortune 500 companies, protect their digital assets against evolving cyber threats.

With over 70% of its workforce comprising seasoned cybersecurity engineers, architects, and consultants, GuidePoint Security is dedicated to delivering impactful results. The company prides itself on its white-glove service and long-standing partnerships, ensuring clients receive expert guidance and support throughout their cybersecurity journey. The tailored solutions and strategic advice reflect the approach, enabling clients to navigate the complex cybersecurity landscape effectively. The company's commitment to maintaining stringent compliance with regulatory standards further enhances its reputation as a reliable cybersecurity partner. GuidePoint Security's advanced PTaaS solutions, combined with its comprehensive range of cybersecurity services, position it as a key player in the industry, helping organizations optimize their security posture and mitigate risks proactively.

Apart from prominent vendors, other players include Breachlock (US), Astra Security (India), Strobes Security (US), Pentest People (UK), Rootshell Security (UK), SafeAeon (US), Immuniweb (Switzerland), and Cyberhunter Solutions (Canada) which are also evolving in the PTaaS market.

BreachLock (US) was founded in 2019 and is headquartered in New York City, US. The company is a private security startup that offers a unique SaaS platform delivering on-demand, continuous, and scalable security testing suitable for modern cloud and DevOps-powered businesses. Breachlock's platform combines human-powered penetration testing with AI-powered automated scans to create a powerful, easy-to-use solution for continuous and on-demand vulnerability management. This modern SaaS-based approach transforms the traditional, time-consuming penetration test model into a fast, comprehensive security-as-a-service model. The company's services include application penetration testing, web application penetration testing, cloud penetration testing, network penetration testing, and social engineering penetration testing, providing a holistic approach to security testing.

BreachLock's penetration testing as a service (PTaaS) leverages the power of both human expertise and advanced technology to offer robust security solutions. Their platform is designed to meet the demands of contemporary cloud environments and DevOps practices, ensuring that security testing is continuous and scalable. The company's offerings include cloud pen testing, network pen testing, application pen testing, web application pen testing, and social engineering, catering to a wide range of security needs. By providing on-demand and continuous security assessments, BreachLock enables organizations to manage and mitigate vulnerabilities proactively in real-time.

BreachLock's geographic presence spans North America, Europe, and Asia Pacific, allowing it to serve diverse clients across different regions. The company's innovative approach to penetration testing and its scalable and user-friendly SaaS platform position BreachLock as a significant player in the PTaaS market. By integrating human expertise with AI-driven automation, BreachLock ensures that clients receive comprehensive and efficient security testing, enhancing their overall security posture and resilience against cyber threats.

Astra Security (India) was founded in 2018 and is headquartered in New Delhi, India. The company is a private cybersecurity company that provides comprehensive security solutions to organizations worldwide. Astra addresses the complexities of modern cloud products, which involve a myriad of APIs and integrations that expose organizations to potential cyber threats. Astra helps companies ensure that their digital expansions do not lead to new vulnerabilities by focusing on proactive security measures, thereby fostering secure business operations.

Astra boasts significant achievements, including uncovering over 800,000 vulnerabilities, saving an estimated USD 30 million in potential losses, and completing over 9,000 security scans in twelve months. Recognized for its innovative approach, Astra has received accolades such as the 'Most Innovative Security Company' award at the Global Conference on Cybersecurity. Additionally, Astra has secured a grant from the French Government under the French Tech Ticket program, highlighting its credibility and industry recognition.

Astra's suite of services includes web, mobile, API, blockchain, and network penetration testing, designed to cater to the diverse security needs of its clients. The company's solutions are trusted by over 400 security-conscious companies, who benefit from Astra's continuous pen testing approach. Astra offers web pen testing, mobile pen testing, API pen testing, and network pen testing. It provides a holistic approach to cybersecurity, ensuring comprehensive protection for its clients.

Astra's geographic presence spans North America and Asia Pacific, allowing it to serve diverse clients across different regions. The company's commitment to proactive security measures and its continuous pen testing approach position Astra as an essential player in the PTaaS market. By leveraging its expertise and innovative solutions, Astra ensures that organizations can expand their digital footprint securely, mitigating risks and protecting against potential cyber threats.

MnM forecasts that most businesses will employ inorganic growth strategies to maintain their market share. In 2021-2022, the number of agreements increased significantly, and MnM anticipates this trend will continue in the PTaaS market. As startups in the PTaaS space evolve with technical advancements, they will likely be acquired or form partnerships with major tech companies. The collaboration will help integrate innovations into existing solutions and expand market share within the PTaaS sector.

Related Reports:

Penetration Testing as a Service Market by Offering (Solution and Managed Services), Organization Size, Testing Types, Verticals (BFSI, Healthcare, IT & ITES, Telecommunications, Retail & E-Commerce, Manufacturing, Education) - Global Forecast to 2029