CAGR of 16.8%, Application Security Market Size to Hit USD 20880.7 Million in 2028, Says Brandessence Market Research

LONDON, April 6, 2022 /PRNewswire/ -- The Application Security market size is expected to record a valuation of USD 20880.7 Million by 2028. Registering to Accelerate at a 16.8% CAGR, According to the most recent study by Brandessence Market Research & Consulting Pvt ltd. 

The Global Application Security Market size was Valued at USD 7041.2 Million in 2021. Application Security Market Size, Share & Trends Analysis Report By Component (Solution, Services) By Deployment Mode (On-Premises, Cloud) By Organization Size (Large Enterprises, SMEs) By Type (Web Application Security, Mobile Application Security) By Testing Type (Static Application Security Testing (SAST), Dynamic Application Security Testing (DAST), Interactive Application Security Testing (IAST), Runtime Application Self-Protection (RASP) By Industry Vertical (BFSI, Healthcare, IT & Telecom, Manufacturing, Government And Public Sector, Retail & E-Commerce, Others) Based On Region, And Segment Forecasts, 2022 - 2028

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Application Security Market Scope: The Covid-19 outburst has encouraged the demand for application security solutions in the face of exceptional circumstances. For instance; a large number of companies are shifting their security attempts toward endpoint security for work-from-home systems. Furthermore, the security groups within the enterprises which do not have resources are implementing these solutions to address numerous web application security concerns; consequently, increasing the demand for effective application security solutions.

Global Application Security Market Dynamics:

A large number of factors are contributing to the significant growth of the application security market across the globe such as soaring advancement in technology, growing R&D, product launches among major players, and many more. Apart from all above aspects, proliferating the growth of security breaches in business applications is one of the foremost factors boosting the application security market growth globally. Security breaches persist to be a threat for enterprises and consumers. Today's hyper-connected business environment improves the speedy development of digital devices, solutions, and related services. Business applications carry crucial organizational information and are the focus of cybercriminals. For instance; web and applications trigger around 30% of the total breaches with an average stated cost to be nearly USD 8 million for each breach. The company has also noticed that a normal organization runs almost 765 applications, among which roughly 34% of applications stay in a vital condition. Meanwhile, application security holds the potential role in such a situation and, hence gaining huge popularity. As a result, this factor is significantly driving the market growth worldwide.

In addition, the greatly expanding retail sector is another significant factor performing a vital role to enhance the growth of the application security market. Massive developments in technology have entirely revolutionized the retail industry as retailers deliver personalized shopping capabilities on a global scale with the support of technology. Corresponding to Think with Google, approximately 84% of shoppers are using their smartphones in physical stores to get knowledge about products and comparison shops. Mobile app technology has become an important part of encouraging customer engagement and offering customers several choices when it arrives at personalized shopping experiences for all. Likewise, the retail industry is bolstered by thousands of specialty software applications intended for particular needs. As per the analysis of Brand Essence Market Research analyst, an average retail chain uses nearly 450 such applications, which are even higher than several other industries. As a result, shopping from phones and tablets has been on the climb for a prolonged time and is eventually promoting the use of security for them. Consequently, it is impelling the market for application security throughout the world.

Application Security Market report covers prominent players like

• VERACODE
• Hewlett Packard Enterprise Development LP
• Synopsys, Inc
• IBM
• WhiteHat Security
• Qualys, Inc
• Checkmarx Ltd.
• Contrast Security
• SiteLock
• Pradeo
• Fasoo Inc
• Oracle
• Micro Focus
• Acunetix
• Rapid7
• Trustwave Holdings, Inc.
• High-Tech Bridge SA
• Positive Technologies
• Pradeo

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Application Security Market: Segmentation analysis

By Component: 

• Solution
• Services

By Deployment Mode:

• On-Premises
• Cloud

By Organization Size:

• Large Enterprises
• SMEs

By Type:

• Web Application Security
• Mobile Application Security

By Testing Type:

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

By Industry Vertical:

• BFSI
• Healthcare
• IT & Telecom
• Manufacturing
• Government and Public Sector
• Retail & E-commerce
• Others

Recent Development:

Virsec Launched Application Security Platform: On February 4^th, 2022; Security company Virsec unveiled a new security platform targeted at avoiding attacks on server infrastructure and the software supply chain. The new Deterministic Protection Platform of the company is designed to make sure better security against threats to software workloads.

NTT Application Security Unveiled the WhiteHat Vantage Platform to Accelerate AppSec to the Speed of Modern Development: On December 9^th, 2021; The Application Security Division of NTT Ltd. revealed The WhiteHat Vantage Platform to offer modern security teams and developers with end-to-end security coverage of web applications and API testing during the whole software improvement lifecycle (SDLC).

Checkmarx Unveiled the Integrated Cloud Platform for Application Security: On October 19^th, 2021; Checkmarx launched the Checkmarx Application Security Platform to assist AppSec teams, CISOs, and designers address the developing and dynamic security tasks they face.

Datadog Launched Cloud Security Platform to Provide Security Teams with Unprecedented Observability Capabilities: On August 4^th, 2021; Datadog, Inc., the monitoring and security platform for cloud applications, had launched the Datadog Cloud Security Platform, combining full-stack security context to Datadog's deep observability abilities

Cisco AppDynamics Delivered Industry-First Solution for Strengthening Security Posture Against Threats While Achieving Peak Application Performance: On February 4^th, 2021; A part of Cisco, AppDynamics launched Cisco Secure Application, the industry's first solution to extremely shorten vulnerability management, protect against attacks and defend applications - from the inside-out.

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Reginal Analysis:

North America is expected to account for the largest share of the global application security market and is expected to maintain its dominance in the upcoming years. This is owing to the huge presence of market players (IBM, Cisco, Veracode, Contrast Security, Synopsis, WhiteHat Security, and Onapsis) across the region and their product launch, R&D, merger, and acquisitions. For example; in February 2021, Qualys Inc. has launched Qualys SaaS Detection and Response (SaaSDR) to broaden its offerings in the application security platform for SaaS applications. Likewise, many small and mid-sized companies are also leveraging into the market. In addition to this, government authorities across the region are also focusing to reduce cybercrimes in the region. All aforementioned aspects are propelling the application security market revenue in North America.

On Special Requirement Application Security Market Report is also available for below region:

North America

• U.S, Canada

Europe

• Germany, France,U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

• South_Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

• Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

• Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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