Market Size –
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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Scope Of Application Security Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
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 .
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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
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Regional Insights –
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
Key Companies –
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
Table of Contents
1. Executive Summary
2. Application Security Market Report Structure
3. Application Security Market Trends And Strategies
4. Application Security Market – Macro Economic Scenario
5. Application Security Market Size And Growth
…..
27. Application Security Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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