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Penetration Testing Market size is set to grow by USD 1.92 billion from 2024-2028, Increasing cyberattacks and data breaches boost the market, Technavio

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NEW YORK, May 30, 2024 /PRNewswire/ — The global penetration testing market size is estimated to grow by USD1.92 billionn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 13.98% during the forecast period. 

For more insights on the forecast market size and historic data (2018 – 2022) – Download a Sample Report

Segment Overview

Component1.1 Solution1.2 ServicesEnd-user2.1 Large enterprises2.2 Small2.3 medium enterprisesGeography3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Solution- The penetration testing market is thriving due to heightened cybersecurity concerns and data breaches. Solution segment, which includes software tools, platforms, and managed services, is driving market growth. Software tools, offering features like vulnerability scanning and reporting, are essential for efficient penetration testing.

Penetration testing platforms provide a centralized solution for managing and analyzing tests across systems and networks. Managed services, offered by expert third-party providers, enable organizations to leverage external resources and enhance security measures. These advanced solutions empower businesses to proactively identify and mitigate vulnerabilities, safeguarding digital assets.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Penetration Testing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 13.98%

Market growth 2024-2028

USD 1928.85 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.77

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

North America at 40%

Key countries

US, China, Japan, UK, and Germany

Key companies profiled

Acunetix, Aujas, Checkmarx Ltd., Coalfire Systems Inc., Cycops Information Security Services, Fortra LLC, HackerOne Inc., ImmuniWeb SA, Indium Software India Ltd., International Business Machines Corp., NetSPI LLC., Network Intelligence, PALADIN SECURITY, Rapid7 Inc., Raxis LLC, SecureLayer7.net, SecureTeam Ltd., SecurEyes, Vumetric Inc., and ScienceSoft USA Corp.

Market Driver

The global penetration testing market has experienced substantial growth due to the widespread adoption of cloud computing services. Businesses value cloud platforms for their scalability and cost-efficiency, but these benefits come with added complexities and potential security risks. Penetration testing is crucial for securing cloud environments against cyber threats.

The cost savings from cloud services have led to increased concerns about shared resources in multi-tenant environments. With the frequency and magnitude of cyber-attacks on the rise, regular penetration testing ensures comprehensive security coverage for entire cloud infrastructures.

The Penetration Testing market is experiencing significant growth due to the increasing need for businesses to secure their digital assets. Companies are investing in this security measure to identify vulnerabilities and protect against cyber attacks. The use of advanced techniques like Social Engineering, Phishing, and Vulnerability Assessments are becoming trendy in Penetration Testing.

Cloud-based penetration testing solutions are also gaining popularity as they offer flexibility and cost-effectiveness. The Cybersecurity landscape is constantly evolving, and Penetration Testing is an essential tool for businesses to stay ahead of potential threats. The market for this service is expected to continue growing as more organizations recognize the importance of proactive security measures.

Market Challenges

Penetration testing, an essential cybersecurity practice, faces rising costs due to complex technology systems, diverse testing targets, and logistical complexities. The need for specialized skills, additional tools, and compliance with regulations increases expenses. Conducting tests across multiple locations and cloud-based environments further adds to the cost. These factors may hinder the growth of the global penetration testing market.The Penetration Testing market faces several challenges in ensuring secure digital environments for businesses. Companies and organizations seek to protect their networks from cyber attacks, yet the complexity of modern systems poses significant hurdles. These include the need for continuous testing due to frequent software updates and the integration of new technologies.Additionally, the increasing use of cloud-based services and the growing sophistication of cybercriminals add to the challenge. To meet these demands, penetration testing solutions must be adaptable, efficient, and effective in identifying vulnerabilities and providing actionable insights.The use of advanced techniques like machine learning and artificial intelligence can help in this regard, but they also require careful implementation and ongoing maintenance. Overall, the Penetration Testing market must continue to innovate and evolve to address the ever-changing threat landscape and help businesses stay secure.

Research report provides comprehensive data on impact of trend, driver and challenges – Request a sample report!

Research Analysis

The Penetration Testing Market has experienced significant growth in recent years due to the increasing number of cyberattacks, driven by the pandemic and the widespread use of smartphones and internet penetration. With the digitization of various sectors, including healthcare and the Internet of Things, the need for robust security measures has become paramount.

SMEs and large enterprises alike have recognized the importance of Compliance measures and have invested in DevSecOps and CoreSecurity solutions. The Dark Web continues to pose a threat, with cybercriminals exploiting vulnerabilities in cloud-based software and wireless networks. Security analysts play a crucial role in identifying and mitigating these risks, making Penetration Testing an essential service in today’s interconnected world.

Market Research Overview

The Penetration Testing market encompasses a range of security solutions designed to assess and improve an organization’s defensive capabilities. These solutions, also known as ethical hacking or white-hat testing, utilize techniques to simulate real-world attacks and identify vulnerabilities in systems, applications, and networks. The market is driven by the increasing frequency and sophistication of cyber threats, as well as regulatory requirements and the need for proactive risk management.

Key components include penetration testing tools, services, and training. Security measures such as Secure Sockets Layer/Transport Layer Security (SSL/TLS) encryption, firewalls, and intrusion detection systems are integral to penetration testing, as they provide a foundation for identifying and mitigating vulnerabilities.

Additionally, the market is influenced by trends such as the adoption of cloud computing, the Internet of Things (IoT), and the growing importance of artificial intelligence (AI) and machine learning (ML) in security. The penetration testing industry is expected to continue growing due to the evolving threat landscape and the ongoing need for organizations to protect their digital assets.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSolutionServicesEnd-userLarge EnterprisesSmallMedium EnterprisesGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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MATSON ANNOUNCES ADDITION OF 3 MILLION SHARES TO EXISTING SHARE REPURCHASE PROGRAM AND QUARTERLY DIVIDEND OF $0.36 PER SHARE

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HONOLULU, April 23, 2026 /PRNewswire/ — The Board of Directors of Matson, Inc. (NYSE: MATX), a leading U.S. carrier in the Pacific, approved adding three million shares to its existing share repurchase program and extending the program to December 31, 2029.  As of April 23, 2026, the existing share repurchase program had approximately 0.7 million shares remaining.  The Board also declared a second quarter dividend of $0.36 per common share.  The dividend will be paid on June 4, 2026 to all shareholders of record as of the close of business on May 7, 2026.

“We are pleased to announce an additional three million shares to our existing share repurchase program,” said Matt Cox, Matson’s Chairman and Chief Executive Officer.  “Since we commenced our share repurchase program in August 2021, we have repurchased approximately 14.3 million shares, or approximately 33% of the then outstanding shares, for a total cost of $1.3 billion.  Going forward, we will continue to be both disciplined and opportunistic in our capital allocation, and we remain committed to returning excess cash to shareholders to create additional shareholder value over the long-term.” 

Shares will be repurchased in the open market from time to time at the Company’s discretion, based on ongoing assessments of the capital needs of the business, the market price of its common shares and general market conditions.  The Company may enter into Rule 10b5-1 plans to facilitate purchases under the program.  The repurchase program may be suspended or discontinued at any time.

About the Company

Founded in 1882, Matson (NYSE: MATX) is a leading provider of ocean transportation and logistics services.  Matson provides a vital lifeline of ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, and to other island economies in Micronesia.  Matson also operates premium, expedited services from China to Long Beach, California, which includes cargo from other Asia origins, provides services to Okinawa, Japan and various islands in the South Pacific, and operates an international export service from Alaska to Asia.  The Company’s fleet of owned and chartered vessels includes containerships, combination container and roll-on/roll-off ships and barges.  Matson Logistics, established in 1987, extends the geographic reach of Matson’s transportation network throughout North America and Asia.  Its integrated logistics services include rail intermodal, highway brokerage, warehousing, freight consolidation, supply chain management, and freight forwarding to Alaska.  Additional information about the Company is available at www.matson.com.

Forward Looking Statements

Statements in this news release that are not historical facts are “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement, including but not limited to, statements about capital allocation plans, the timing, manner and volume of repurchases of common shares pursuant to the repurchase program, and use of excess cash.  These forward-looking statements are not guarantees of future performance.  This release should be read in conjunction with our Annual Report on Form 10-K and our other filings with the SEC through the date of this release, which identify important factors that could affect the forward-looking statements in this release.  We do not undertake any obligation to update our forward-looking statements.

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SOURCE Matson, Inc.

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Accord Specialty Pharmacy Named Finalist in MMIT’s 11th Annual Retail Specialty Pharmacy Patient Choice Awards

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ORLANDO, Fla., April 23, 2026 /PRNewswire/ — Accord Specialty Pharmacy, an independent specialty pharmacy serving patients across multiple states, has been named a finalist in the MMIT Patient Choice Awards, a recognition based on patient-reported satisfaction and experience.

Accord was selected as the only independent pharmacy among finalists in its category, alongside national pharmacy organizations such as Walgreens Specialty Pharmacy and Walmart Specialty Pharmacy. This distinction highlights the company’s commitment to delivering personalized, high-touch care for patients managing complex and chronic conditions.

The MMIT Patient Choice Awards recognize specialty pharmacies that demonstrate excellence in patient satisfaction, service quality, and overall care experience. Finalists are determined based on direct patient feedback, making the recognition a meaningful reflection of the trust patients place in their pharmacy providers.

“Being recognized alongside national organizations and as the only independent finalist validates our belief that personalized, patient-centered care drives better outcomes. We are building a model that combines clinical depth, national reach, and operational flexibility to better serve patients, providers, and partners.” said AJ Patel, Founder and Pharmacy Manager of Accord Specialty Pharmacy.

Accord Specialty Pharmacy supports patients across complex specialty categories, including oncology, rare disease, and infusion, through a clinically driven, high-touch care model designed to improve access, adherence, and outcomes. The company’s approach emphasizes personalized support, responsive care coordination, and strong clinical engagement to help patients navigate complex therapies more effectively. With a growing national footprint and multi-state licensure, Accord is positioned to support patients, providers, and partners across diverse markets.

For more information, visit MMIT Announces Finalists of the 11th Specialty Pharmacy Patient Choice Awards – MMITNetwork.

About Accord Specialty Pharmacy:

Accord Specialty Pharmacy is an ACHC-accredited, multi-state licensed independent specialty pharmacy located in Central Florida, dedicated to delivering high-quality, patient-centered care for individuals managing complex and chronic conditions. Through personalized support, clinical expertise, and a high-touch approach, Accord helps patients navigate every step of their treatment journey. Learn more at www.accordspecialty.com.

CONTACT: contact@accordspecialty.com

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SOURCE Accord Specialty

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HAIVISION ANNOUNCES VOTING RESULTS FROM 2026 ANNUAL MEETING OF SHAREHOLDERS

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MONTRÉAL, April 23, 2026 /CNW/ – Haivision Systems Inc. (“Haivision” or the “Company”) (TSX: HAI) is pleased to announce the voting results from its annual meeting of shareholders held today in a virtual format.

A total of approximately 45.97 % of the issued and outstanding common shares of Haivision were represented at the meeting.

Election of Directors

Each of the six nominated directors of Haivision was elected as director of the Company with the following results:

Director

Votes
For

% Votes
For

Votes
Against

% Votes
Against

Miroslav Wicha

11,110,245

99.26 %

82,583

0.74 %

Harvey Bienenstock

11,155,137

99.66 %

37,691

0.34 %

Robin M. Rush

11,121,855

99.37 %

70,973

0.63 %

Neil Hindle

10,794,005

96.44 %

398,823

3.56 %

Julie Tremblay

10,941,969

97.76 %

250,859

2.24 %

Lee K. Levy II

9,084,418

81.16 %

2,108,410

18.84 %

2.   Appointment of Auditors

Deloitte LLP were reappointed auditors of the Company for the ensuing year with 12,492,582 (98.84%) votes cast in favour and 146,406 (1.16%) votes withheld.

3.   Approval of the Unallocated Awards under the Company’s Equity Incentive Plan

The Company’s unallocated awards were approved with 8,710,347 (77.82%) votes cast in favour and 2,482,481 (22.18%) votes cast against.

4.   Reapproval of Company’s Shareholder Rights Plan

The Company’s shareholder rights plan was approved with 10,572,490 (94.46%) votes cast in favour and 620,338 (5.54%) votes cast against.

Final voting results on all matters voted on at the meeting will be filed under Haivision’s profile on SEDAR+ at www.sedarplus.ca.

About Haivision

Haivision is a leading global provider of mission-critical, real-time video streaming and visual collaboration solutions. Our connected cloud and intelligent edge technologies enable organizations globally to engage audiences, enhance collaboration, and support decision making. We provide high quality, low latency, secure, and reliable live video at a global scale. Haivision open sourced its award-winning SRT low latency video streaming protocol and founded the SRT Alliance to support its adoption. Awarded four Emmys® for Technology and Engineering from the National Academy of Television Arts and Sciences, Haivision continues to fuel the future of IP video transformation. Founded in 2004, Haivision is headquartered in Montreal and Chicago with offices, sales, and support located throughout the Americas, Europe, and Asia. Learn more at haivision.com.

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SOURCE Haivision Systems Inc.

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