Budgets are one problem, as TechRepublic reports, with 1 in 3 companies citing money as their reason for not conducting the tests more frequently. In many cases annual penetration tests don’t happen.By some estimates the global penetration testing market will grow more than 24 percent through 2026.and European organizations have increased their overall IT security spending this year, with 85 percent raising their penetration testing budgets, reports TechRepublic. This is based on vetting and averaging market forecasts from numerous industry sources. Cybersecurity Ventures predicts the global penetration testing product and service market will exceed $5 billion annually by 2031.Facts, figures, predictions and statistics help CISOs and cybersecurity leaders understand the market dynamics. Substantial and frequent penetration testing is crucial for modern businesses to mitigate the risk of cyberattacks today. You can spend as much as you wish on perimeter and network defense, implementing zero-trust policies, training staff, and endpoint protection, but unless you consistently test the effectiveness of cybersecurity defense, potential pathways for exploitation remain open. “If you’re spending one dollar on cybersecurity and you’re not doing penetration testing, then you’re doing something terribly wrong,” Seemant Sehgal, founder and CEO at BreachLock, told Cybersecurity Ventures. 25 Ethical Hacking Facts, Figures, Predictions, and Statistics.
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