The Application Security Market size was valued at USD 8.04 Bn in 2022 and is expected to reach USD 27.85 Bn by 2030, and grow at a CAGR of 16.79% over the forecast period 2023-2030.
Application security is the process of safeguarding applications by detecting, repairing, and improving their security. It enhances security capabilities within apps to protect against dangers such as unauthorized modification and access. It entails a number of proactive methods to identify and repair vulnerabilities before hackers may exploit them. Application security solutions provide a variety of benefits to businesses, including keeping customer data safe to boost consumer confidence, protecting sensitive data from leaks, and increasing trust from critical lenders and investors.
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In the midst of extraordinary conditions, the COVID-19 epidemic has spurred demand for application security solutions. For example, an increasing number of businesses are focusing their security efforts on endpoint protection for work-from-home systems. Furthermore, security teams inside organizations with limited resources are using these solutions to solve various web application security concerns, increasing the need for efficient application security solutions.
KEY DRIVERS:
An increase in security breaches aimed at business applications
Increased usage of cloud-based and mobile technologies.
Government restrictions are favorable.
RESTRAINTS:
Budget restrictions and the return on investment discourage firms from investing.
OPPORTUNITY:
Adoption of artificial intelligence and machine learning in web- and mobile-based security processes to boost application security market demand.
Adoption of application security in small and medium-sized organizations increases market demand.
CHALLENGES:
Unused applications pose a significant security risk.
The emergence of covid 19 is causing more damage in global markets. However, the application security industry is expanding rapidly. In recent years, the number of online apps has increased. In addition, the number of web application developer rates is increasing. The population of smartphones and mobile users is vast. The amount of time spent on mobile phones is especially high during pandemics. Global lockdowns are preventing individuals from leaving their homes. It is resulting in increased use of cell phones during leisure time. These mobile users' primary requests are for social media access and online commerce. Many mobile application developers are using application security to reduce data leaks. They improve the quality of their services by strengthening application security. It is enticing many smartphone users to check out new applications. In addition, the proliferation of government apps is increasing the use of application security. This upward trend in the application security industry has continued since Covid 19.
MARKET ESTIMATION:
From 2022 to 2028, worldwide demand for mobile application security is predicted to rise at the fastest CAGR. The fast-expanding internet use service and rising workplace acceptance of BYOD rules have increased the use of personal devices such as smartphones, tablets, and smart wearables to access organizational information. Web application security is predicted to dominate the market by 2028. As a result, the corporate network and non-IT managed applications have grown in number. Because of the dearth of expertise and skill sets of in-house security specialists pertaining to software security testing, most firms are outsourcing their security model, pushing the growth of security services during the projection period. The growing requirement for safeguarding data applications in a virtualized and multi-tenant environment is driving the professional security services industry. The increase in security threats and the rising acceptance of managed security services by SMEs (Small and Medium enterprises). Budgetary limits and cost pressures are forcing SMEs to choose bundles of larger service portfolios offered by service providers, which include Application security solutions as well as other managed services.
During the projected period, the Interactive Application Security Testing (IAST) market is predicted to develop at a reasonable CAGR. IAST can be used in conjunction with other testing technologies as part of a comprehensive testing approach that combines SAST and DAST security testing approaches to test applications in a runtime environment by monitoring the dynamic response of the software application and identifying security flaws.
The government and defense sector accounted for the majority of the entire industry and is predicted to develop rapidly in the application security market. Over the previous few years, the industry has struggled to safeguard computer software applications against massive data breaches. As a result, firms are increasing their spending on R&D and training security personnel, which is predicted to be a prominent trend in the market.
On The Basis of Component
Solution
Services
On The Basis of Testing type
Static Application Security Testing
Dynamic Application Security Testing
Interactive Application Security Testing
Runtime Application Self-Protection
On The Basis of Organization size
Small and medium enterprise
Large enterprise
On The Basis of End-User
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BFSI
Government and defense
Healthcare
IT & Telecom
Manufacturing
Retail
Others
With the fastest growth rate, Asia Pacific is outpacing other regional players. A wide range of organizations requires application security. Enterprises benefit from preventing data theft, breaches, and monetary losses. There are also several Application Security Market Companies in the region. Furthermore, North America is the second largest market with a considerable stake. It is a pioneer in the application security solution. The growing prevalence of mobile devices will result in massive market growth. The presence of major actors will result in new advancements throughout the predicted period. Furthermore, Europe is a major region with rapid market expansion. All of these regional companies will help to drive the global Application Security Business forward.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major key players are IBM Corporation, Capgemini, MicroFocus, Cisco Systems Inc., Synopsys, Veracode, Whitehat Security, RAPID7, Qualys, HCL Technologies & Other Players
| Report Attributes | Details |
| Market Size in 2022 | USD 8.04 Billion |
| Market Size by 2030 | USD 27.85 Billion |
| CAGR | CAGR 16.79% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Component (Solution and Services) • by Testing Type (Static Application Security Testing, Dynamic Application Security Testing, Interactive Application Security Testing, and Runtime Application Self-Protection) • by Organization Size (Small and medium enterprise and large enterprise) • by End-User (BFSI, Government and defense, Healthcare, IT & Telecom, Manufacturing, Retail, and Others |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, +D11UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | IBM Corporation, Capgemini, MicroFocus, Cisco Systems Inc., Synopsys, Veracode, Whitehat Security, RAPID7, Qualys, and HCL Technologies |
| Key Drivers | •An increase in security breaches aimed at business applications •Increased usage of cloud-based and mobile technologies. |
| Market Restraints | •Budget restrictions and the return on investment discourage firms from investing. |
Ans: - The Application Security Market size is projected to reach USD 27.85 Bn by 2030.
Ans: - An increase in security breaches aimed at business applications.
Ans: - 4 segments of the Application Security Market.
Ans: - The major key players are IBM Corporation, Capgemini, MicroFocus, Cisco Systems Inc., Synopsys, Veracode, Whitehat Security, RAPID7, Qualys, and HCL Technologies.
Ans: - The Application Security Market is to grow at a CAGR of 16.79% over the forecast period 2023-2030.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Application Security Market Segmentation, by Component
8.1 Solution
8.2 Services
9. Application Security Market Segmentation, by Testing type
9.1 Static Application Security Testing
9.2 Dynamic Application Security Testing
9.3 Interactive Application Security Testing
9.4 Runtime Application Self-Protection
10. Application Security Market Segmentation, by Organization size
10.1 Small and medium enterprise
10.2 Large enterprise
11. Application Security Market Segmentation, by End-User
11.1 BFSI
11.2 Government and defense
11.3 Healthcare
11.4 IT & Telecom
11.5 Manufacturing
11.6 Retail
11.7 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 IBM Corporation
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Capgemini
13.3 MicroFocus
13.4 Cisco Systems Inc.
13.5 Synopsys
13.6 Veracode
13.7 Whitehat Security
13.8 RAPID7
13.9 Qualys
13.10 HCL Technologies
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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