Application Security is a comprehensive approach that incorporates software, hardware, and measures adopted by enterprises to detect, remedy, and protect applications against external threats and vulnerabilities. These threats include denial of service attacks, data breaches, data theft, and other cyber-attacks. Security measures span different stages of the application lifecycle, from design and development to deployment, upgrades, and maintenance. Various solutions contribute to the defense, such as firewalls, anti-virus programs, encryption software, spyware detection and removal tools, and biometric authentication systems.
Request To Download Free Sample of This Strategic Report:- https://www.reportocean.com/industry-verticals/sample-request?report_id=31763
The Growing Need for Application Security
The global application security market is experiencing rapid growth, driven by the increasing volume of monetary transactions through mobile applications. These transactions often involve sensitive information such as account details, banking credentials, and user login information. The surge in smartphone usage and the booming e-commerce sector are major factors fueling the application security market. Application security has become essential for ensuring data privacy, building customer trust, and securing the long-term growth of organizations.
Protecting Critical Financial and E-commerce Applications
Applications used in the finance and e-commerce sectors are particularly vulnerable due to the nature of the transactions they handle. Finance applications, including online banking portals, insurance platforms, and online payment solutions, demand robust security measures to combat threats like identity theft, session hijacking, password breaches, and financial data theft. Application security solutions equip financial and e-commerce applications with core features such as authentication, authorization, single sign-on, session management, and account protection.
Market Segmentation
The global application security market is segmented based on various criteria:
- Solution:
- Web Application Security
- Mobile Application Security
- Services:
- Professional Services
- Managed Services
- Testing Type:
- Static Application Security Testing (SAST)
- Dynamic Application Security Testing (DAST)
- Interactive Application Security Testing (IAST)
- Deployment:
- On-Cloud
- On-Premise
- Organization Size:
- Small and Medium Enterprises (SMEs)
- Large Enterprises
- End-Users:
- BFSI
- IT & Telecommunication
- Government & Defense
- Healthcare
- Retail
- Education
- Others
Key Players
Prominent players in the Application Security market include:
- Veracode
- HPE
- Synopsys
- IBM Corporation
- WhiteHat Security
- Qualys
- Checkmarx
- Acunetix
- Rapid7
- Trustwave
- High-Tech Bridge
- Contrast Security
Market Insights
- The global Application Security market was valued at USD 2.65 billion in 2017 and is expected to reach USD 9.64 billion by 2023, growing at a CAGR of 24.95%.
- Web application security is the leading solution, with a market value of USD 1.78 billion in 2017. Mobile application security is projected to grow at a CAGR of 26.87% during the forecast period (2018-2023).
- Professional services dominate the market, with managed services expected to grow at a CAGR of 26.91%.
- Static Application Security Testing (SAST) is the dominant testing type and is projected to grow at a CAGR of 24.06%. Interactive Application Security Testing (IAST) is expected to grow at a CAGR of 27.58%.
- Among end-users, the Government & Defense industry leads the market, with a market value of USD 778.47 million in 2017. BFSI is projected to grow at a CAGR of 28.89% during the forecast period (2018-2023).
- North America holds the largest market share, followed by Europe. Asia-Pacific is the fastest-growing market, with a CAGR of 27.03%.
Regional and Country Analysis
- North America led the global application security market in 2017, with revenues of USD 1.01 billion. E-commerce growth and the proliferation of mobile applications contribute to this dominance.
- In Asia-Pacific, a rising economy and increased smartphone usage are driving market growth. Countries like China, Japan, India, and South Korea are experiencing significant adoption.
- The report provides detailed country-level analysis for North America, Europe, Asia-Pacific, and the rest of the world.
Conclusion
In today’s digital landscape, application security is critical to safeguarding sensitive data and ensuring the trust and privacy of customers. As the market continues to evolve, businesses need robust security measures to protect their applications.
About Report Ocean
Report Ocean is a leading provider of market research reports, delivering comprehensive insights through both quantitative and qualitative research. With a global network and extensive industry coverage, Report Ocean empowers businesses with in-depth knowledge to make informed and strategic decisions. Leveraging state-of-the-art technology, unique research models, and years of expertise, the company consistently delivers data that exceeds expectations.