Application Security Market to Reach a CAGR of 16.1% | Component, Deployment Mode, Organization Size, Type, Region

Application Security Market by Component (Solution and Services), Deployment Mode (Cloud and On-Premise), Organization Size (Large Enterprises and SMEs), Type (Web Application Security and Mobile Application Security), Testing type (Static Application Security Testing (SAST), Dynamic Application Security Testing (DAST), Interactive Application Security Testing (IAST), and Runtime Application Self-Protection (RASP)) Industry Vertical (BFSI, Healthcare, IT and Telecom, Manufacturing, Government and Public Sector, Retail & E-commerce, and Others), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Click Here For a Free Sample + Related Graphs of the Report at: https://www.delvens.com/get-free-sample/application-security-market-trends-forecast-till-2028

Currently, digitization is rapidly gaining widespread acceptance. The use of programs and the propensity to work online has rapidly expanded, especially after the COVID-19 epidemic. Hence, increasing security breaches and the expanding use of commercial apps are major concerns. According to the Identity Theft Resource Center's 2021 Data Breach Report, 1,862 data breaches occurred in 2021, above both the previous high of 1,506 in 2017 and the number of 1,108 in 2020. Also, the need for Software as a Service (SaaS)-based application security solutions is contributing to the rapid growth of the global application security market.

Application security, in general, refers to the process of securing web and mobile applications by identifying, fixing, and enhancing the software's built-in security issues. To prevent security vulnerabilities against threats like unauthorized modification and access, it adds extra security measures within applications. Before hackers may use the faults to their advantage, it is necessary to take a variety of preventive measures, such as finding vulnerabilities and applying patches to those vulnerabilities. Businesses can benefit from application security solutions in a variety of ways, some of which include the protection of sensitive data from leaks, an increase in trust from important lenders and investors, and the maintenance of customer information confidentiality to foster customers' confidence in the business.

Current Market and Drivers

In terms of revenue market size of the Global Application Security Market was $8.35 billion in 2022. It is projected to reach $27.59 billion by 2030 with growth at the CAGR of 16.1% in the forecast period of 2022-2030.

From the very start, security breaches were always been a concern for application-based businesses and cloud-based businesses. Security breaches have had a devastating effect on large corporations as well as small and medium-sized businesses. Modern businesses use sophisticated programs that integrate communication with sensitive data that travels across platforms, devices, and users. Because they contain users' private information and sensitive data, these are the foundation of the digital infrastructure and are frequently targeted by hackers. The majority of programs contain patches, but neither users nor businesses typically apply them, making it simpler for cybercriminals to compromise the application's code. Due to the surge in security breaches, application security solutions shield business applications from these dangers and make them safe and secure.

Analysis of the application security industry reveals that the unprecedented Covid-19 outbreak has increased demand for application security solutions by forcing businesses to fundamentally rethink how they deploy their workforces. For instance, many businesses are reorienting their security initiatives around endpoint protection for the technology used in work-from-home situations. "The growing popularity of remote work requires a higher attention to information security due to the greater possibility for cyber risk." 2022 (Deloitte) Additionally, the internal security teams of the enterprises lack the tools required to address the many online and mobile application security issues, which increases the need for efficient application security solutions.

Within the market dynamics, it is expected that the mobile sub-segment will have the most significant market share and generate $5,367.6 million in revenue by 2027. During the projection period, it is predicted that the ability of mobile application security to safeguard data from risks such as illegal password and pin cracking, unauthorized tethering, and others would present a sizable number of opportunities for growth to the subsegment. It should not be surprising that application spending in this submarket is predicted to dominate the industry given the rising computational power of mobile devices and the societal necessity of having a mobile device.

Major companies operating in the global application security market are IBM Corporation, HCL Software, Cisco Systems, Synopsys, Checkmarx, Veracode, MicroFocus, Whitehat Security, Capgemini, Rapid, Onapsis, Gitlab, CAST Software, Contrast Security, Qualys, VMware, OneSpan, Trustewave.

WhiteHat Security was acquired by Synopsys Inc. in June 2022. By the acquisition of Whitehat Security, Synopsis gained significant SaaS capabilities and market-leading dynamic application security testing (DAST) technologies.

Micro Focus introduced hybrid Cloud Management X in 2020, designed to simplify the delivery of multi-cloud services.

Major Geographies and growth

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa make up the different segments of the application security market. The North American application security market accounted for the biggest revenue share in 2021. Because there are many market players in this area, end users are more aware of security breaches, which is predicted to increase demand for application security solutions. Also, the increased use of cloud-based technologies and smart gadgets is propelling revenue development in this region.
Because of the growing expansion of small and medium-sized businesses, which raises security concerns and increases the usage of DevSecOps solutions, the application security market in Europe is anticipated to experience consistent revenue growth over the forecast period.

Due to the rising advancements in cloud-based technology, IT infrastructure options, and the Internet of Things (IoT), which have increased demand for application security, the application security market in the Asia Pacific is anticipated to post a significantly fast revenue growth rate throughout the forecast period.

Market segments and Growth

The market is segmented based on Type, Deployment Mode, organization size, and End-User.
Based on type, the global application security market is segmented into web application security and mobile application security. Over the projected period, the mobile application security category is anticipated to post the fastest revenue CAGR. Instead of using a private network, mobile devices send and receive data via the internet, which gives hackers access to sensitive data.

The application security market is divided into on-premises and cloud segments based on deployment mode. Over the projection period, the cloud category is anticipated to have the quickest revenue Growth. To keep up with the digital revolution, many businesses have moved every aspect of their business to the cloud. Yet, some have had difficulty keeping their cloud environment and data compliant with the changing regulatory needs of their respective industries. An increase in the use of cloud-based application security deployment, especially since the COVID-19 outbreak forced many businesses to quickly create more adaptive infrastructure.

The global application security market is divided into small, medium, and big enterprises based on the size of the company. Due to the growing adoption of DevSecOps solutions by major companies, the large enterprise category accounted for the largest revenue share in 2021.
The BFSI, government, healthcare, education, retail, IT & communications, and other segments of the worldwide application security market are based on end-user. Because the banking industry has the biggest security concerns and is seeing an increase in attacks on digital platforms, the Banking, Financial Services, and Insurance (BFSI) market is anticipated to experience the quickest revenue CAGR over the projected period.

Conclusion

The application security market is a rapidly growing industry, driven by the increasing frequency and severity of cyber-attacks. With more and more companies relying on digital technologies to conduct their business, the need for robust application security measures is greater than ever before. As a result, the market for application security solutions is expected to continue to expand in the coming years, with an increasing number of businesses investing in advanced security solutions to protect their applications and data. To succeed in this market, vendors must focus on delivering innovative solutions that provide comprehensive protection against a wide range of threats, while also offering ease of use, flexibility, and scalability to meet the evolving needs of their clients. Overall, the application security market presents significant growth opportunities for vendors and offers a crucial service to businesses looking to safeguard their digital assets from the growing threat of cyber-attacks.

Direct Purchase of Application Security Market Research Report at: https://www.delvens.com/checkout/application-security-market-trends-forecast-till-2028

Contact Us:

UNIT NO. 2126, TOWER B,
21ST FLOOR ALPHATHUM
SECTOR 90 NOIDA 201305, IN
+44-20-8638-5055
SALES@DELVENS.COM
WEBSITE: https://delvens.com/

About Us:

Delvens is a strategic advisory and consulting company headquartered in New Delhi, India. The company holds expertise in providing syndicated research reports, customized research reports and consulting services. Delvens qualitative and quantitative data is highly utilized by each level from niche to major markets, serving more than 1K prominent companies by assuring to provide the information on country, regional and global business environment. We have a database for more than 45 industries in more than 115+ major countries globally.

Delvens database assists the clients by providing in-depth information in crucial business decisions. Delvens offers significant facts and figures across various industries namely Healthcare, IT & Telecom, Chemicals & Materials, Semiconductor & Electronics, Energy, Pharmaceutical, Consumer Goods & Services, Food & Beverages. Our company provides an exhaustive and comprehensive understanding of the business environment.

This release was published on openPR.