The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033.
According to The Business Research Company’s Application Security, 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.
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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..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 .
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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
Artificial intelligence (AI) and machine learning (ML) are increasingly being used to prevent attacks on the web or mobile-based applications. AI can be used to automate threat detection and respond more effectively than a traditional software-driven approach. AI-based cybersecurity will train itself continuously and independently gather the data across the enterprise information systems through that data it analyses and performs correlation of patterns across billions of signals relevant to the cyberattacks and solve the issue. For instance, Fortinet, a California-based security solutions company provides solutions from network and web application security to threat protection for IT infrastructure. Fortinet’s AI-based product, FortiWeb, is a web application firewall that uses machine learning and two layers of statistical probabilities for detecting attacks and threats.
Top Major Players
International Business Machines Corporation,
Synopsys Inc.,
Checkmarx Ltd.,
Veracode Inc.,
Micro Focus International plc
The application security market report table of contents includes:
1. Executive Summary
- Application Security Market Characteristics
- Application Security Market Trends And Strategies
- Application Security Market – Macro Economic Scenario
- Global Application Security Market Size and Growth
- Application Security Market Segmentation
- Application Security Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Application Security Market
- Application Security Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Application Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Application Security Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Application Security Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: International Business Machines Corporation Financial Performance
Table 75: Synopsys Inc. Financial Performance
Table 76: Checkmarx Ltd. Financial Performance
Table 77: Veracode Inc. Financial Performance
Table 78: Micro Focus International plc Financial Performance
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