New York, March 21, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of “Application Security Global Market Report 2022” – https://www.reportlinker.com/p06246505/?utm_source=GNW
The global application security market is expected to grow from $7.67 billion in 2021 to $9.39 billion in 2022 at a compound annual growth rate (CAGR) of 22.4%. The change in growth trend is mainly due to companies stabilizing their production after meeting the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $21.90 billion in 2026 to a CAGR of 22.2%.
The application security market consists of the sale of application security products and related services. Application security is a method of making applications more secure by repairing, finding, and improving application security.
It also includes tools and methods to protect applications once application security is implemented. Only goods and services marketed between entities or sold to final consumers are included.
The main types of application security solutions are web application security, mobile application security; testing type in static application security testing, dynamic application security testing, and interactive application security testing. Web application security is a process of protecting websites and online services from various security threats that exploit vulnerabilities in an application’s code.
The various types of testing include static application security testing, dynamic application security testing, and interactive application security testing using BFSI, IT and telecommunications, government and defense, healthcare, retail, education, and other end users.
North America was the largest region in the application security market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The rise in security breaches at the business application level contributed to the growth of the application security market. For example, in March 2020, Keepnetlabs, a UK-based security company, announced a data leak that exposed nearly 5 billion records.
Additionally, in December 2019, Microsoft disclosed a data breach that exposed 250 million entries attributed to misconfiguration of an internal customer support database. Application security enhances the security of web and mobile applications which can mitigate some of the breaches through the application. .
Therefore, the increasing security breaches at the business application level drove the application security market market.
The lack of application security expertise is expected to limit the growth of the application security market in the coming years. According to Burning Glass International Inc., an analytics software company, security demand for application development and cloud security is a fast-growing skills area that is projected to grow 164% and 115% respectively by 2020 and 2025. According to ESG and Information Systems Security Association (ISSA) analysis published in August 2020, 70% of cybersecurity professionals say their organization is struggling with a cybersecurity skills shortage. Over the past four years, the percentage has ranged from a low of 69% to a high of 74%. Therefore, the lack of application security expertise is anticipated to restrain the growth of the application security market.
Artificial intelligence (AI) and machine learning (ML) are increasingly used to prevent attacks on the web or mobile applications. AI can be used to automate threat detection and response more effectively than a traditional software-based approach.
AI-based cybersecurity will continuously train itself and independently collect the data in the company’s information systems through the data it analyzes and performs pattern correlation on billions of signals relevant to attacks cyber and solve the problem. For example, Fortinet, a California-based security solutions company offers solutions ranging from network and web application security to threat protection for IT infrastructure.
Fortinet’s AI-based product, FortiWeb, is a web application firewall that uses machine learning and two layers of statistical probability to detect attacks and threats.
In April 2020, Hellman & Friedman (H&F), a US-based provider of software security solutions for DevOps, acquired Checkmarx, a software security solutions company from Insight Partners for $1.15 billion of dollars. The acquisition is expected to fuel the company’s growth and cybersecurity threats continue to intensify, making it critical to build security early in the software development lifecycle. Checkmarx is an Israel-based software security solution for modern enterprise software development and is dedicated to providing static and interactive application security testing, software composition analysis, and application security training development.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the US.
Read the full report: https://www.reportlinker.com/p06246505/?utm_source=GNW
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