Overview and Scope
Application security refers to the process of creating, incorporating, and testing security measures into applications to guard against dangers, including illegal access and modification. It also includes tools and methods to protect applications once application security is deployed. Only goods and services traded between entities or sold to end consumers are included.
Sizing and Forecast
The application security market size has grown exponentially in recent years. It will grow from $11.3 billion in 2023 to $13.9 billion in 2024 at a compound annual growth rate (CAGR) of 23.1%. The growth in the historic period can be attributed to security awareness and training, rising cybersecurity threat landscape, increased frequency and sophistication of attacks, insider threats and privilege abuse.
The application security market size is expected to see exponential growth in the next few years. It will grow to $32.89 billion in 2028 at a compound annual growth rate (CAGR) of 24.0%. The growth in the forecast period can be attributed to supply chain security, enhanced multi-factor authentication, continuous security testing,focus on insider threat mitigation, unified security platforms.. Major trends in the forecast period include shift left security, devsecops integration, runtime application self-protection, automated security testing, supply chain security, user and data-centric security..
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Segmentation & Regional Insights
The application security market covered in this report is segmented –
1) By Solution: Web Application Security, Mobile Application Security
2) By Testing Type: Static Application Security Testing, Dynamic Application Security Testing, Interactive Application Security Testing
3) By End-User: BFSI, IT And Telecommunication, Government And Defense, Healthcare, Retail, Education, Other End Users
North America was the largest region in the application security market in 2023. The regions covered in the application security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increased security breaches at the business application level contributed to the growth of the application security market. Application security enhances the security of the web and mobile-based applications that can mitigate some of the breaches through the application. For instance, in December 2022, according to Cyber Security Hub, a US-based community of cyber and IT security professionals, there were about 4,100 data breaches that were made public, which translates to almost 22 billion pieces of information being compromised. Thus, the rising security breaches at the business application level drove the market for application security .
Key Industry Players
Major companies operating in the application security market report are International Business Machines Corporation, Synopsys Inc., Checkmarx Ltd., Veracode Inc., Micro Focus International plc, WhiteHat Security Inc., Rapid7 Inc., Contrast Security Inc., Qualys Inc., Trustwave Holdings Inc., Acunetix Limited, HCL Technologies Limited, Cisco Systems Inc., Capgemini SE, Onapsis Inc., GitLab Inc., CAST, VMware Inc., OneSpan Inc., Imperva Inc., F5 Networks Inc., NowSecure Inc., Pradeo Security Systems, Lookout Inc., Data Theorem Inc., Zimperium Inc., Kryptowire LLC, Appthority Inc., NSFocus Information Technology Co. Ltd., N-Stalker Inc., Oracle Corporation, SiteLock LLC, Fasoo. com Inc., Apriorit Inc., UnderDefense LLC, Exodata S. A. S, Palo Alto Networks Inc., McAfee LLC, Microsoft Corporation, CrowdStrike Inc., OneTrust Inc., Fortinet Inc., WhiteSource Software Ltd., SecureLink Inc., Appknox
The application security market report table of contents includes:
1. Executive Summary
2. Application Security Market Characteristics
3. Application Security Market Trends And Strategies
4. Application Security Market – Macro Economic Scenario
5. Global Application Security Market Size and Growth
….
30. Application Security Market Competitive Landscape And Company Profiles
31. Application Security Market Other Major And Innovative Companies
32. Global Application Security Market Competitive Benchmarking
33. Global Application Security Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Application Security Market
35. Application Security Market Future Outlook and Potential Analysis
36. Appendix
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