PUNE, India, May 18, 2017 /PRNewswire/ --
According to a new market research report "Application Security Market by Component (Solutions, Services), Solution (Web Application Security, Mobile Application Security), Testing Type (SAST, DAST, IAST), Deployment Mode, Organization Size, Industry Vertical, Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is expected to grow from USD 2.79 Billion in 2017 to USD 9.0 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 26.4%.
Browse 72 market data Tables and 66 Figures spread through 154 Pages and in-depth TOC on "Application Security Market"
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Due to increase in security breaches targeting business applications, organizations across the world are deploying application security solutions to safeguard their web and mobile applications. The major forces driving the Application Security Market are the need to protect enterprise applications and data from sophisticated application layer attacks, necessity to adhere to government regulations, and increased usage of third-party applications. Thus, organizations are adopting advanced application security testing solutions, which are mainly classified into static, dynamic, and interactive application security testing.
Interactive Application Security Testing (IAST) is expected to grow at the highest CAGR during the forecast period.
The demand for application security solutions is expected to grow rapidly in the next 5 years, as the application layer is the prime target for hackers to gain access to sensitive information. Among the security testing types, the IAST segment is expected to grow at the highest CAGR during the forecast period, as IAST is the next-generation application security testing, which is capable of detecting complex application vulnerabilities, both internal as well as external. There are a few vendors who have already included IAST in their product portfolio, while many others are aiming to launch it soon.
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Banking, Financial Services, and Insurance (BFSI) vertical is expected to have the largest market size by the end of the forecast period.
In the Application Security Market by industry vertical, the BFSI vertical is expected to witness the highest adoption. With the growing usage of web and mobile applications for banking transactions and payments, the critical data and applications used across various verticals are more prone to advanced threats. Moreover, government and defense, retail, and IT and telecom verticals are also some of the major contributors in the overall Application Security Market size.
North America is expected to dominate the Application Security Market during the forecast period.
North America is estimated to hold the largest share in the global Application Security Market in 2017 due to its fast adoption of latest technologies, the presence of major application security solution vendors, and strict government and industry regulations with respect to the deployment of IT tools for business processes. This results in the extensive implementation of security policies to prevent cyber threats.
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The report encompasses the competitive landscape, which presents the positioning of the 25 key application security solutions and services vendors, based on their product offerings and business strategies. Some of the major solution vendors include Veracode (Massachusetts, US), Hewlett Packard Enterprise (California, US), Synopsys (California, US), IBM Corporation (New York, US), WhiteHat Security (California, US), Qualys (California, US), Checkmarx (Tel Aviv, Israel), Acunetix (St Julians, Malta), Rapid7 (Massachusetts, US), Trustwave (Illinois, US), High-Tech Bridge (Geneva, Switzerland), Contrast Security (California, US), SiteLock (Arizona, US), Pradeo (Paris, France), and Fasoo (New Jersey, US).
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