PUNE, India, January 15, 2018 /PRNewswire/ --
According to a new market research report "Dynamic Application Security Testing Market by Type (Solution and Services), Application (Web and Mobile Application Security), Deployment Mode (On-premises and Cloud), Organization Size, Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market size is expected to grow from USD 736.0 Million in 2017 and expected to reach USD 2,398.5 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 26.7% during the forecast period.
Browse 68 market data Tables and 45 Figures spread through 131 Pages and in-depth TOC on "Dynamic Application Security Testing Market"
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Major driving factors for the market include increasing degree of business risks due to application vulnerabilities; stringent government mandates and regulations, such as the OWASP Foundation, Common Weakness Enumeration/SysAdmin, Audit, Network, and Security (SANS) Institute, Payment Card Industry Data Security Standard (PCI DSS), Health Insurance Portability And Accountability Act (HIPAA)/HITECH Compliance, and Security, and Trust And Assurance Registry (STAR); increasing sophistication level of cyber-attacks; and growing adoption of third-party applications and cloud computing. However, budget constraints may restrain the market growth.
Banking, Financial Services, and Insurance (BFSI) vertical is expected to hold the largest market share during the forecast period
The BFSI vertical is expected to hold the largest market share in the global Dynamic Application Security Testing Market by vertical during the forecast period. The BFSI vertical is rapidly implementing digital technologies in its ecosystem for enhancing the customer experience. This move helps it with its marketing and promotional activities as well. The technological advancements in the vertical attract cybercriminals and cyber-attacks.
SMEs segment is expected to grow at a higher rate during the forecast period
The SMEs segment is expected to grow at a higher rate during the forecast period. The adoption of Dynamic Application Security Testing solutions is expected to be rapidly increasing among SMEs, as they are becoming proactive in terms of securing their IT infrastructure.
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North America is expected to hold the largest market share during the forecast period
In the Dynamic Application Security Testing Market by region, North America is expected to hold the largest market share, due to the presence of top Dynamic Application Security Testing service providers and the high adoption rate of security solutions. Strict government regulations, such as PCI DSS, GLBA, and HIPAA, mandate organizations to implement best IT security practices for safeguarding organizations' data. North America's developed economies, the US and Canada, are significantly advanced in adopting technologies.
The major vendors covered in the Dynamic Application Security Testing Market include Accenture (Republic of Ireland), IBM (US), Micro Focus (UK), Veracode (US), Synopsys (US), Pradeo (France), Rapid7 (US), Tieto (Finland), Trustwave (US), and WhiteHat Security (US).
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