CAGR of 16.8%, the size of the application security market will reach USD 20,880.7 million in 2028, according to Brandessence Market Research

CAGR of 16.8%, the size of the application security market will reach USD 20,880.7 million in 2028, according to Brandessence Market Research

LONDON, April 6, 2022 /PRNewswire/ — The Application security market size is expected to record a valuation of $20,880.7 million by 2028. Set to accelerate at a CAGR of 16.8%, according to the most recent study by Brandessence Market Research & Consulting Pvt ltd.

The size of the global application security market was valued at $7,0412 million by 2021. Application Security Market Size, Share and Trend Analysis Report by Component (Solution, Services) by Mode of Deployment (On-Premise, Cloud) by Organization Size (Large Enterprise, SMB) by Type (Web Application Security, Mobile Application Security) by type of test (Static Application Security Tests (SAST), Dynamic Application Security Tests (DAST), Interactive Application Security Tests (IAST), runtime applications (RASP) by vertical industry (BFSI, healthcare, IT and telecom, manufacturing, government and public sector, retail and e-commerce, others) based on forecasts by region and segment, 2022 – 2028

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Application Security Market Scope: The outbreak of Covid-19 has fueled the demand for application security solutions in exceptional circumstances. For example; a lot of companies are shifting their security efforts towards endpoint security for work-from-home systems. Additionally, security groups within enterprises that don’t have resources are deploying these solutions to address numerous web application security issues; consequently, the demand for effective application security solutions is increasing.

Global Application Security Market Dynamics:

A lot of factors are contributing to the significant growth of the application security market across the globe, such as the breakthrough in technology, increased R&D, product launches among major players, and many more. Apart from all the above aspects, the proliferation of the growth of security breaches in business applications is one of the main factors driving the growth of the application security market globally. Security breaches continue to be a threat to businesses and consumers. Today’s hyperconnected business environment enhances the rapid development of digital devices, solutions and related services. Business applications carry crucial organizational information and are the focus of cybercriminals. For example; web and apps trigger around 30% of total breaches with an average reported cost of nearly $8 million for each breach. The company has also noted that a typical organization runs almost 765 applications, among which about 34% of the applications remain vital. Meanwhile, application security has a potential role in such a situation and thus is gaining wide popularity. As a result, this factor is significantly driving the growth of the market across the globe.

Furthermore, the greatly expanding retail sector is another important factor that plays a vital role in enhancing the growth of the application security market. Massive developments in technology have completely revolutionized the retail industry as retailers offer personalized shopping capabilities on a global scale supported by technology. According to Think with Google, about 84% of shoppers use their smartphones in physical stores to get product information and compare stores. Mobile app technology has become an important part of encouraging customer engagement and offering them multiple options when it comes to personalized shopping experiences for everyone. Likewise, the retail industry is enhanced by thousands of specialized software applications designed for particular needs. According to Brand Essence Market Research analyst analysis, an average retail chain uses nearly 450 such apps, which is even more than other industries. As a result, purchases from phones and tablets have been on the rise for a long time and are eventually promoting the use of security for them. Consequently, it is driving the application security market worldwide.

The Application Security Market report covers prominent players such as

  • VERACOD
  • Hewlett Packard Business Development LP
  • Synopsis, Inc.
  • IBM
  • White Hat Security
  • Qualys, Inc.
  • Checkmarx Ltd.
  • contrast safety
  • site lock
  • prairie
  • fasoo inc
  • Oracle
  • microfocus
  • Acunetix
  • quick7
  • Trustwave Holdings, Inc.
  • SA high-tech bridge
  • positive technologies
  • prairie

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Application Security Market: Segmentation Analysis

By component:

By implementation mode:

By organization size:

By type:

  • Web application security
  • Mobile app security

By type of test:

  • Static Application Security Testing (SAST)
  • Dynamic Application Security Testing (DAST)
  • Interactive Application Security Testing (IAST)
  • Runtime Application Self Protection (RASP)

By vertical sector:

  • BFSI
  • Health care
  • IT and telecommunications
  • Manufacturing
  • Government and Public Sector
  • Retail and eCommerce
  • Others

Recent development:

Visec launched application security platform: In february 4the, 2022; Security company Virsec has unveiled a new security platform aimed at preventing attacks on server infrastructure and the software supply chain. The company’s new deterministic protection platform is designed to ensure better security against threats to software workloads.

NTT Application Security Introduced WhiteHat Vantage Platform to Accelerate AppSec to the Speed ​​of Modern Development: In December 9the, 2021; NTT Ltd.’s Application Security Division unveiled the WhiteHat Vantage platform to provide modern security developers and teams with comprehensive security coverage of web applications and API testing throughout the Software Enhancement Lifecycle (SDLC) .

Checkmarx Introduced Integrated Cloud Platform for Application Security: In October 19the, 2021; Checkmarx launched the Checkmarx Application Security Platform to help AppSec, CISO, and designer teams tackle the development and dynamic security tasks they face.

Datadog Launched Cloud Security Platform to Provide Security Teams with Unprecedented Observation Capabilities: In August 4ththe, 2021; Datadog, Inc., the security and monitoring platform for cloud applications, has launched the Datadog Cloud Security Platform, which combines full-stack security context with Datadog’s deep observation capabilities.

Cisco AppDynamics delivered the industry’s first solution to strengthen security posture against threats while achieving peak application performance: In february 4the, 2021; As part of Cisco, AppDynamics launched Cisco Secure Application, the industry’s first solution to dramatically shorten vulnerability management, protect against attacks, and defend applications, from the inside out.

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Regional Analysis:

North America it is expected to account for the largest share of the global application security market and is expected to maintain its dominance for years to come. This is due to the huge presence of market players (IBM, Cisco, Veracode, Contrast Security, Synopsis, WhiteHat Security and Onapsis) throughout the region and their product launches, R&D, mergers and acquisitions. For example; in february 2021, Qualys Inc. has launched Qualys SaaS Detection and Response (SaaSDR) to expand its offerings in the application security platform for SaaS applications. Likewise, many small and medium-sized companies are also taking advantage of the market. In addition to this, government authorities across the region are also focusing on reducing cybercrime in the region. All the aforementioned aspects are driving the revenue of the application security market in North America.

In the Special Requirements Application Security Market Report is also available for the following region:

North America

Europe

  • GermanyFrance, UK, Italy, Spain, SwedenHolland, turkey, Switzerland, BelgiumThe rest of Europe

Pacific Asia

  • South Korea, Japan, Porcelain, India, Australia, Philippines, Singapore, Malaysia, Thailand, IndonesiaRest of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, PeruThe rest of Latin America

Middle East and Africa

  • Saudi ArabiaUnited Arab Emirates, Egypt, South AfricaRest of MEA

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