Application Security Market

Application Security Market: By Component, Type, Organization Size, Deployment mode, End-users, and Region

Market Synopsis

Global Application Security market is valued at 6.95 USD Billion in 2021 and is projected to attain a value of 22.54 USD Billion by 2028 at a Compound Annual Growth Rate (CAGR) of 18.10% during the forecast period, 2022–2028.

The demand for Application Security Market is increasing because businesses are becoming more aware of the importance of protecting their data. Hackers are becoming more sophisticated, and they can easily exploit vulnerabilities in applications to steal sensitive information. As a result, businesses are realizing that they need to invest in Application Security solutions to protect their data.

Growing Number of Connected Devices and Rising Number of Data Breaches to Drive Growth of the Application Security Market

Growing number of connected devices is one of the key factors driving demand for Application Security Market. With the advent of the Internet of Things (IoT), there are now more opportunities for hackers to exploit vulnerabilities in applications. Businesses need to ensure that their applications are secure so that they can protect their data from being accessed by hackers.

The final reason for the increase in demand for Application Security is the increasing number of data breaches. A data breach can have a devastating impact on a business, and it can result in the loss of millions of dollars. As a result, businesses are realizing that they need to take steps to protect their data from being compromised. One of the best ways to do this is by investing in Application Security solutions.

Application Security is becoming increasingly important as businesses are becoming more aware of the dangers posed by hackers. Hackers are becoming more sophisticated, and they can easily exploit vulnerabilities in applications to steal sensitive information. As a result, businesses are realizing that they need to invest in Application Security solutions to protect their data.

Market Segmentation

Global Application Security market is segmented by component (software tools (SAST and DAST) and services), type (web Application Security and mobile Application Security), organization size, deployment mode, vertical (healthcare and BFSI), and Region.

By End-User, Banking and Financials Institutes are the Largest Consumer of Application Security Services

Banking and financial institutions are the largest users of Application Security services. They need to protect their customer data, as well as their own systems and information. Financial institutions are often targeted by cybercriminals, so they need to have robust security in place to protect themselves and their customers.

Application Security services can help organizations identify and mitigate vulnerabilities in their applications. These services can include penetration testing, vulnerability scanning, and code review. By identifying and addressing vulnerabilities early on, financial institutions can help reduce the risk of a breach or attack. Financial institutions are becoming increasingly aware of the importance of Application Security, and are investing more in these services. This is a positive trend, as it will help improve the overall security of the financial sector.

Asia Pacific is the Largest Consumer of Application Security Services

It has been found that the Asia Pacific region is the largest consumer of Application Security services. The main drivers for this growth are the increasing number of cyber-attacks and the growing demand for cloud-based security solutions. Additionally, the increasing adoption of digital transformation initiatives in APAC is also fueling the demand for Application Security services. Organizations in this region recognize the importance of protecting their applications against cyber-attacks and are increasingly investing in these services. This is good news for security providers, who can expect to see strong growth in this region in the coming years.

Key Players

HCL Software (India), IBM Corporation (US), Synopsys (US), Cisco Systems (US), Veracode (US), Checkmarx (Israel), WhiteHat Security (US), MicroFocus (UK), Rapid7 (US), Capgemini (France), GitLab (US), Onapsis (US), Contrast Security (US), CAST Software (France), VMware (US), Qualys (US), Trustwave (US), OneSpan (US), Imperva (US), Acunetix (Malta), F5, Inc. (US), Pradeo (France), NowSecure (US), Data Theorem (US), Lookout (US), Kryptowire (US), and Zimperium (US).

Application Security Market is segmented as follows:

Application Security Market is tabulated as follows: