The Application Security Market delves into various aspects, enabling readers to gain a deep understanding of the market dynamics, trends, and potential opportunities.
According to the report, the global application security market size was valued at more than the U.S. $5,000.00 million in 2020, growing at a CAGR of more than 18% over the forecast period 2020-2027.
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Applications are secured by detecting, repairing, and enhancing their security. Applications can be made secure using this feature, which prevents vulnerabilities from being exploited by threats such as unauthorized modification and access. An effective vulnerability management program includes proactive steps to discover vulnerabilities and patch them before hackers can exploit them. Enterprises can benefit from the implementation of application security solutions in several ways, including securing customer data to build customer confidence, reducing the leakage of sensitive information, and enhancing the confidence of crucial lenders and investors.
Factors Impacting the Application Security Market
- Security breaches targeting business applications and strict compliance and regulatory requirements for application security have been driving the growth of the global application security market.
- With the proliferation of smartphones and retail and e-commerce organizations requesting application security, the need for application security is on the rise.
- Increasing demand for application security solutions has been attributed to the shift toward cloud-based applications. The market growth is, however, expected to be hampered by budget constraints in deploying application security.
- During the forecast period, the application security market is expected to grow substantially due to the integration of AI and machine learning.
Covid-19 Impact: Application Security Market
During the forecast period, the application security market is expected to grow following COVID-19. According to current projections, 2030 will be higher than pre-COVID-19 estimates. In the face of unprecedented circumstances, the COVID-19 outbreak has driven a demand for application security solutions. For example, many companies are shifting their attention to endpoint security for work-from-home systems. Due to a shortage of resources within the enterprises, the security teams are unable to deal with multiple web application security issues; thus, increasing the demand for application security solutions.
Apart from that, companies that offer applications for distance learning, teleconferencing, online gaming, healthcare, e-commerce, and entertainment have experienced a rise in usage and revenue. Therefore, the need for these applications to improve their security capabilities is increasing. Despite the proliferation of healthcare and medical applications, there remains a lucrative market for application security solutions to prevent leaks of medical information. For example, according to an Intertrust 2020 study on healthcare and medical apps, 71% had at least one serious security vulnerability that could compromise medical information.
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Regional Analysis of the Application Security Market
North America will maintain its dominance in the application security market share in the upcoming years. An increasing number of security breaches targeting business applications is among the major drivers for the application security market in the Asia Pacific. Asia Pacific has some of the most popular application vendors including- IBM, Qualys, and Checkmarx. Small and medium-sized businesses are prevalent in APAC.
The low budget for cybersecurity in these organizations means they use open source apps more often for testing the security of their applications, introducing high risks, including infringement, operational risks, and malpractices. Cybercrime and legislation both lack in these countries, along with a lack of awareness and knowledge of basics security, making online transactions highly susceptible to cyber theft. It is a key reason for malware attacks like ransomware, which most people don’t know. Over the past few years, there have been several large-scale web security breaches in Asia Pacific countries. A layer of automation is being added to security for organizations in the Asia-Pacific region as they transition toward agile development and DevOps.
Outline of the Application Security Market Report
Application security market size is examined for each segment in the report. The study evaluates this market with respect to its market size and growth potential across different segments: by type of product, by testing type, by component, by deployment, by organization size, by vertical, and by region.
Segmentation based on Type
- Web Application Security
- Mobile Application Security
Segmentation based on Testing Type
- Dynamic Application Security Testing (DAST)
- Runtime Application Self-Protection (RASP)
- Interactive Application Security Testing (IAST)
- Static Application Security Testing (SAST)
Segmentation based on component
- Solution
- Services
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Segmentation based on Deployment
- On-Premise
- Cloud
Segmentation based on Organization Size
- Large Enterprises
- Small Enterprises
- Medium Enterprises
Segmentation based on Industry Vertical
- Healthcare
- Government and Public Sector
- IT & Telecom
- Manufacturing
- BFSI
- Retail & E-commerce
- Others
Segmentation based on Region
- Europe
- Asia-Pacific
- North America
- The Middle East and Africa
Key Market Players of the Application Security Market
Globally, the following companies offer application security:
- IBM Corporation
- HCL Technologies
- Whitehat Security
- Capegemini
- MicroFocus
- Synopsys
- Veracode
- RAPID7
- Qualys
- Cisco Systems Inc
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Table of Content
Chapter 1: Global Application Security Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Application Security market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Application Security Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Application Security market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Application Security market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Application Security market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Application Security market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Application Security business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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