The global application security market reached a value of US$ 6.48 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 17.67 Billion by 2027, exhibiting a CAGR of 17.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Application security refers to a technique of developing, adding, and analyzing the features present in various apps for preventing security vulnerabilities. It involves authentication, authorization, encryption, and logging as protection layers that aid in eliminating unauthorized third-party access, modifications, and the risk of unusual activities. This, in turn, assists enterprises in ensuring optimal security of the client data, optimizing workflow, and maintaining the application lifecycle. Currently, it is commercially available in varying testing types, such as runtime application self-protection (RASP), interactive application security testing (IAST) and dynamic application security testing (DAST). Application Security Market Trends:
The widespread adoption of flexible, durable, and cost-effective security solutions across various industrial verticals, such as information technology (IT), telecom, e-commerce, banking, financing, serving and insurance (BFSI) and public sectors due to increasing instances of several online fraudulent activities represents the key factor driving the application security market growth. This is further supported by numerous favorable initiatives undertaken by the governments of various countries for strengthening cybersecurity through the incorporation of security identifiers (IDs) for identifying users. In line with this, the sudden deployment of work from home (WFH) and bring your own device (BYOD) corporate model on account of the outbreak of coronavirus disease (COVID-19) pandemic and the consequent implementation of mandatory lockdowns has increased the risks of data vulnerability, which, in turn, is acting as another growth-inducing factor. Moreover, the rising requirement for determining each phase of the software development lifecycle (SDLC) for protecting software and critical data is contributing to the market growth. Apart from this, the extensive utilization of personal, smart devices, including smartphones, laptops, tablets, and smart wearables, for accessing various applications and organization information is creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global application security market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, type, testing type, deployment mode, organization size and industry vertical.
Breakup by Component:
Breakup by Type: Web Application Security
Mobile Application Security
Breakup by Testing Type:
Static Application Security Testing (SAST)
Dynamic Application Security Testing (DAST)
Interactive Application Security Testing (IAST)
Runtime Application Self-Protection (RASP)
Breakup by Deployment Mode:
Breakup by Organization Size:
Small and Medium-sized Enterprises
Breakup by Industry Vertical:
IT and Telecom
Government and Public Sector
Retail and E-Commerce
Breakup by Region: North America
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Capgemini SE, Checkmarx Ltd., Cisco Systems Inc., Contrast Security Inc., International Business Machines Corporation, Micro Focus International plc, Ntt Security Appsec Solutions Inc. (NTT Ltd.), Oracle Corporation, Qualys Inc., Rapid7, Synopsys Inc. and Veracode. Key Questions Answered in This Report:
How has the global application security market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global application security market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the type?
What is the breakup of the market based on the testing type?
What is the breakup of the market based on the deployment mode?
What is the breakup of the market based on the organization size?
What is the breakup of the market based on the industry vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global application security market and who are the key players?
What is the degree of competition in the industry?