Application Security Market

Analysts at GMI Research estimates that the Application Security Market was worth USD 8.3 billion in 2022, and forecast to touch USD 28.1 billion in 2030, growing at a significant higher CAGR of 16.5% from 2023-2030.

To have an edge over the competition by knowing the market dynamics and current trends of “Application Security Market”, request for Sample Report here

Market Dynamic

Key Drivers and Emerging Trends

The factors driving the global application security market include increasing security breaches that target business applications, paired with the rising usage of smartphones and cloud-based technologies. Security breaches are a constant threat to consumers and enterprises at large. The basis of digital infrastructure is the communication among the data and the business-critical applications, which are shared across users, devices, and platforms. Business applications house essential organizational data and are at the target of cybercriminals. Owing to the upsurge of security breaches across the world that target applications, organizations worldwide are increasingly deploying solutions for application security to safeguard the web and mobile applications. Many significant companies including Adobe, LinkedIn, MySpace, eBay, Yahoo, Equifax, and others have witnessed critical security breaches over the recent past. The rising stringency in the compliance and regulatory requirements for enhanced security supplements the application security market’s growth. Moreover, the rising demand for SaaS-based solutions for application security is opportunistic for the market’s growth.

Restraint in the Application Security Market

Factors including constraints in the budget of the businesses are projected to hamper the global application security market growth over the forecast period.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Component- Segment Analysis

The software segment is projected to hold the largest market share in the global application security market based on the component due to the increasing deployment of advanced software solutions and tools to protect business applications and simplify the provision of services. For instance, in September 2020, Micro Focus launched Hybrid Cloud Management X, that was designed mainly to ease the delivery of multi-cloud services. The platform is a multi-tenant management cloud-native platform that is able to run in the public cloud or on-premises environments. The various software tools include static application security testing, dynamic application security testing, interactive application security testing, run-time application self-protection, and others. The static application security testing or white box testing is a majorly deployed software tool among other tools.

End User- Segment Analysis

BFSI end user holds the largest market share in the global application security market based on the end-user. The banks and financial institutions manage and store humongous amounts of critical customer data, including money transaction details, payment information, account numbers, card details, and trading transactions. The application security solutions scan the applications to identify the security gaps and protecting them against vulnerabilities and threats.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis:

Based on the region, the North America region is expected to hold the largest market share over the forecast period in the global application security market. The region is a significant contributor to the application security industry as it witnesses massive deployment of advanced technologies. North America is the early adopter of advanced technologies throughout diverse verticals, including BFSI, retail & E-commerce, government, healthcare, telecommunication, education, IT & telecom, and others. The countries in the region have well-established and advanced economies that thereby aid in the development of new technologies robustly. Asia-Pacific is projected to grow at the fastest pace over the forecast period. Some of the noteworthy application vendors that cater to the Asia Pacific market include IBM, Qualys, and Checkmarks, among others.

Top Market Players

Various notable players operating in the marketincludeIBM Corporation, HCL Technologies, Cisco Systems, Synopsys, Inc., Checkmarx Ltd, Micro Focus, VERACODE, Whitehat Security, Inc., Capgemini SE, and Rapid7among others. 

Key Developments:

• • In 2020, MicroFocus unveiled the launch of Fortify on Demand application security testing services for the AWS GovCloud. The service offersadvanced testing and vulnerability management capabilities that support the critical federal agencies.

Segments Covered in the Report

The global application Security Market has been segmented on the basis of type, enterprise size, end user, and key regions. Based on type, the market is segmented into web application security and mobile application security. Based on component, the market is segmented into software and services. By end user, the market is bifurcated into BFSI, retail & E-commerce, government, healthcare, telecommunication, education, IT & telecom, and others. 

For detailed scope of the “Application Security Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global application security market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Application Security Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the Global Application Security Market?
  • Which Service generated maximum revenues in 2021 and identifies the most promising during the forecast period?
  • What are the various End User areas of Global Application Security Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Application Security Market by Type

• • Web Application Security
  • Mobile Application Security

Global Application Security Market by Component

• • Software
  • Services

Global Application Security Market by End User

• • BFSI
  • Retail & E-commerce
  • Government
  • Healthcare
  • Telecommunication
  • Education
  • IT & Telecom
  • Others

Global Application Security Market by Region

• • North America Application Security Market (Option 1: As a part of the free 25% customization)

    • By Type
    • By Component
    • By End User
    • US Market All-Up
    • Canada Market All-Up

  • Europe Application Security Market (Option 2: As a part of the free 25% customization)

    • By Type
    • By Component
    • By End User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Application Security Market (Option 3: As a part of the free 25% customization)

    • By Type
    • By Component
    • By End User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Application Security Market (Option 4: As a part of the free 25% customization)

    • By Type
    • By Component
    • By End User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Application Security Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • IBM Corporation
  • HCL Technologies
  • Cisco Systems
  • Synopsys, Inc.
  • Checkmarx Ltd
  • Micro Focus
  • VERACODE
  • Whitehat Security, Inc.
  • Capgemini SE
  • Rapid7