The global application security market size reached US$ 7.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.6 Billion by 2028, exhibiting a growth rate (CAGR) of 17.1% during 2023-2028.
Application security refers to a technique of developing, adding, and analyzing the features present in various apps for preventing security vulnerabilities. It involves authentication, authorization, encryption, and logging as protection layers that aid in eliminating unauthorized third-party access, modifications, and the risk of unusual activities. This, in turn, assists enterprises in ensuring optimal security of the client data, optimizing workflow, and maintaining the application lifecycle. Currently, it is commercially available in varying testing types, such as runtime application self-protection (RASP), interactive application security testing (IAST) and dynamic application security testing (DAST).
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Application Security Market Trends:
The widespread adoption of flexible, durable, and cost-effective security solutions across various industrial verticals, such as information technology (IT), telecom, e-commerce, banking, financing, serving and insurance (BFSI) and public sectors due to increasing instances of several online fraudulent activities represents the key factor driving the application security market growth. This is further supported by numerous favorable initiatives undertaken by the governments of various countries for strengthening cybersecurity through the incorporation of security identifiers (IDs) for identifying users. In line with this, the sudden deployment of work from home (WFH) and bring your own device (BYOD) corporate model on account of the outbreak of coronavirus disease (COVID-19) pandemic and the consequent implementation of mandatory lockdowns has increased the risks of data vulnerability, which, in turn, is acting as another growth-inducing factor. Moreover, the rising requirement for determining each phase of the software development lifecycle (SDLC) for protecting software and critical data is contributing to the market growth. Apart from this, the extensive utilization of personal, smart devices, including smartphones, laptops, tablets, and smart wearables, for accessing various applications and organization information is creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global application securitymarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, type, testing type, deployment mode, organization size and industry vertical.
Breakup by Component:
Solution
Services
Breakup by Type:
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Web Application Security
Mobile Application Security
Breakup by Testing Type:
Static Application Security Testing (SAST)
Dynamic Application Security Testing (DAST)
Interactive Application Security Testing (IAST)
Runtime Application Self-Protection (RASP)
Breakup by Deployment Mode:
On-premises
Cloud-based
Breakup by Organization Size:
Large Enterprises
Small and Medium-sized Enterprises
Breakup by Industry Vertical:
BFSI
Healthcare
IT and Telecom
Manufacturing
Government and Public Sector
Retail and E-Commerce
Others
Breakup by Region:
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North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Capgemini SE, Checkmarx Ltd., Cisco Systems Inc., Contrast Security Inc., International Business Machines Corporation, Micro Focus International plc, Ntt Security Appsec Solutions Inc. (NTT Ltd.), Oracle Corporation, Qualys Inc., Rapid7, Synopsys Inc. and Veracode.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Billion
Segment Coverage
Component, Type, Testing Type, Deployment Mode, Organization Size, Industry Vertical, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Capgemini SE, Checkmarx Ltd., Cisco Systems Inc., Contrast Security Inc., International Business Machines Corporation, Micro Focus International plc, Ntt Security Appsec Solutions Inc. (NTT Ltd.), Oracle Corporation, Qualys Inc., Rapid7, Synopsys Inc. and Veracode.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global application security market was valued at US$ 7.8 Billion in 2022.
We expect the global application security market to exhibit a CAGR of 17.1% during 2023-2028.
The rising utilization of application security across various enterprises, in ensuring optimal security of
the client data, generating workflow efficiency, and maintaining the application lifecycle, is primarily
driving the global application security market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing demand for application
security technique for protecting critical data, owing to the inflating risk of data vulnerability with the
rising adoption of remote working model and Bring Your Own Device (BYOD) model.
Based on the component, the global application security market has been segmented into solution and
services. Currently, solution holds the majority of the total market share.
Based on the type, the global application security market can be divided into web application security
and mobile application security, where web application security currently exhibits a clear dominance in
the market.
Based on the testing type, the global application security market has been categorized into Static
Application Security Testing (SAST), Dynamic Application Security Testing (DAST), Interactive Application
Security Testing (IAST), and Runtime Application Self-Protection (RASP). Among these, Static Application
Security Testing (SAST) currently accounts for the majority of the global market share.
Based on the deployment mode, the global application security market can be segregated into on-
premises and cloud-based. Currently, on-premises hold the largest market share.
Based on the organization size, the global application security market has been bifurcated into large
enterprises and small and medium-sized enterprises, where large enterprises currently exhibit a clear
dominance in the market.
Based on the industry vertical, the global application security market can be categorized into BFSI,
healthcare, IT and telecom, manufacturing, government and public sector, retail and e-commerce, and
others. Among these, the BFSI industry currently accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global application security market include Capgemini SE, Checkmarx
Ltd., Cisco Systems Inc., Contrast Security Inc., International Business Machines Corporation, Micro
Focus International plc, Ntt Security Appsec Solutions Inc. (NTT Ltd.), Oracle Corporation, Qualys Inc.,
Rapid7, Synopsys Inc., and Veracode.
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