Increasing Security Issues in the World Are Driving Application Security Market Growth


Application Security Market
Application Security Market


Application Security Market, By Application (Web Application Security, Mobile Application Security), By Service(Component) {Managed, Professional}, By Deployment (Component) {Cloud, On-premise}, By Organization Size (Small and Medium Enterprises, Large enterprises), By Types of Security Testing (Static Application Security Testing (SAST), Dynamic Application Security Testing (DAST), Interactive Application Security Testing (IAST), Run-Time Application Self Protection (RASP)), By end-user vertical (Healthcare, BFSI, Education, Retail, Government, Other End-user Verticals), By Geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030.

Market Overview:

Application security refers to the process of protecting software applications from potential threats and vulnerabilities that could compromise the confidentiality, integrity, and availability of data. In today's digital world, software applications play a crucial role in our daily lives, from online banking and e-commerce to social media and healthcare. However, these applications are also vulnerable to cyber-attacks and data breaches, which can result in financial losses, reputation damage, and legal liabilities.

Competitive Landscape:

Major players operating in the global application security market include Kryptowire, Zimperium, Data Theorem, Lookout, Pradeo, NowSecure, Acunetix, F5, Inc., Imperva, Trustwave, OneSpan, VMware, Qualys, Contrast Security, CAST Software, GitLab, Onapsis, Rapid7, Capgemini, WhiteHat Security, MicroFocus, Veracode, Checkmarx, Synopsys, Cisco Systems, HCL Software, and IBM Corporation.

The Application Security Market was valued at US$ 7.35 Bn in 2021 and is forecast to reach a value of US$ 33.06 Bn by 2030 at a CAGR of 18.5% between 2022 and 2030.

Key Market Drivers:

The growing adoption of cloud-based applications, the increasing complexity of software applications, and the growing trend of Bring Your Own Device (BYOD) policies are expected to augment the growth of the global application market. For instance, in September 2020, Micro Focus launched a new design called Hybrid Cloud Management X, in order to deliver multi-cloud services.

Moreover, the increasing regulatory compliance requirements, such as GDPR, HIPAA, and PCI-DSS, are also estimated to witness high growth in the global application market. Application security involves various measures to prevent, detect, and respond to potential security threats and vulnerabilities in software applications. It includes activities such as secure coding practices, vulnerability testing, access controls, data encryption, and incident response planning. Application security is important for both businesses and consumers, as it helps to protect sensitive data and applications from cyber-attacks and data breaches.

Covid-19 Impact Analysis:

The COVID-19 pandemic has had a significant impact on the global Application Security Market. The rapid shift towards remote working and the increasing reliance on digital technologies has led to an increase in cyber-attacks and data breaches. This has increased the demand for application security solutions to protect sensitive data and applications. Additionally, the pandemic has disrupted the global supply chain, leading to a shortage of raw materials and finished products.

Key Takeaways:

North America is expected to dominate the global application market, owing to the presence of key market players, high adoption of advanced technologies, and increasing government initiatives to strengthen cybersecurity. For instance, in June 2020, Micro Focus launched an application security testing service called Fortify on Demand, for the AWS GovCloud.

The Asia-Pacific region is estimated to witness high growth in the global application market, owing to the increasing adoption of digital technologies, growing IT infrastructure, and rising cyber threats. For instance, according to EasyLeadz, there are over 170,000 IT companies in India.


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