ID: MRFR/ICT/2435-CR | August 2018 | Region: Global | 200 pages
Market Research Future (MRFR) predicts the Global Application Security Market to surpass a valuation of USD 9 Billion from 2017 to 2023 (forecast period). The security breaches affecting business applications, increasing use of mobile and cloud-based technologies, and strict compliance and regulatory requirements for application security are key factors driving the application security market's growth. Owing to an increase in demand for Software as a Service (SaaS)-based application security solutions, the application security market will have an immense opportunity to expand over the next five years.
Globally, there are roughly 19–20 million software developers, 40% of whom are mobile application developers, and 60% are web application developers. With a growing trend in the usage of mobile phones and smartphones for a number of purposes, such as office work, online shopping, and social media access, the development of mobile apps has increased. Due to the growing demand for mobile apps, the need to secure the development phase of mobile apps to mitigate data loss and data breaches and track the run time environment of an application has also increased. In the light of the COVID-19 pandemic, the government also mandated the deployment of mobile applications, in particular, while traveling, which also increased the need to increase security measures in the SDLC process. Due to these factors, the demand for security for mobile apps is expected to increase with a higher CAGR during the forecast period.
Security breaches continue to pose a threat to customers and companies. Today's hyper-connected business environment is boosting the rapid growth of digital solutions, devices, and related services. The foundation of the digital infrastructure is focused on communication between business-critical applications and data, which are shared across platforms, devices, and users. Business apps have critical organizational data and are the target of cybercriminals. According to F5 Labs, web and apps account for 30% of the overall breaches, with an average estimated cost of USD 8 million per breach. The company also found that a typical organization had an average of 765 applications, of which 34% were in critical condition. By mid-2019, the Common Vulnerabilities and Exposures (CVE) database had reported more than 11,000 vulnerabilities in widely used applications and found that 34% of applications had no patches available. Even if patches are available, customers and companies do not apply them, making it more effective for cybercriminals to crack application codes. According to Security Boulevard, 60% of the breaches included vulnerabilities for which a patch was available but not applied. As per Appthority, one of the main application security solutions providers, the common threat comes from non-malware risky app behavior, like aggressive data collection and data sharing.
Budget constraints and return on investment pullback companies from investments
When applications do not expand beyond business-critical activities, such as payment-related activities or ordering products and services, businesses leave thousands of applications susceptible. Unused business-critical applications are harmful because they are not updated from time to time. Many small and medium-sized companies feel that spending money on this type of application will cost the business. Unused applications create long-term security risks because it is easy to crack unused applications and get into the IT infrastructure regardless of whether the application was a business-critical or seldom-used web application.
Global Application Security Industry has been segmented into Solutions, Services, Testing Type, Deployment, Organization Size, and End-User.
North America to lead the global market
Financial crimes against banks and other financial services institutions are growing rapidly in the digital age. Card fraud was predicted to rise to USD 183.29 billion by 2020 worldwide. In the United States, the BFSI sector has more than one exabyte of stored data. These data were generated from a variety of sources like credit/debit card histories, call logs, customer bank visits, banking volumes, account transactions, and web interactions. Due to the high availability of sufficient infrastructure, the presence of multiple global financial institutions, the increased adoption of IoT devices and Internet users, the development of threat intelligence solutions in the North American region is expected to increase. Furthermore, the proliferation of digital services and technological developments, coupled with the early adoption of the latest technologies in the banking sector, is supporting the growth of the region.
The application security market is strongly fragmented due to the presence of a large number of players in the market. Many industry players are making developments to separate themselves from their competitors.
April 2019-IBM collaborated with the Indian Government to secure Indian servers on the cloud to protect against cyber-attacks and criminals.
This research report explores key drivers, constraints, and challenges in the global application security market, regional and segment revenue estimates and assessments. The base year is 2017; the forecast period is 2017-2023. The segmentation of the market is described in the following manner.
By Testing Type:
By Organization Size:
|Market Size||USD 9 Billion (2017-2023)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Solution, By Service|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Veracode (U.S.), HPE (U.S.), Synopsys (U.S.), IBM (U.S.), WhiteHat Security (U.S.), Qualys (U.S.), Checkmarx (Israel), Acunetix (Malta), Rapid7 (U.S.), Trustwave (U.S.), High-Tech Bridge (Switzerland), Contrast Security (U.S.)|
|Key Market Opportunities||Increase in demand for Software as a Service (SaaS)-based application security solutions, the application security market will have an immense opportunity to expand over the next five years.|
|Key Market Drivers||The foundation of the digital infrastructure is focused on communication between business-critical applications and data, which are shared across platforms, devices, and users.|
Frequently Asked Questions (FAQ) :
A 24.95% CAGR is estimated to motivate the market in the coming years.
An income potential of 9.64 Billion is estimated to be gained by the conclusion of 2023.
Checkmarx Ltd. (US), Rapid7 Inc (US), White Hat Security Inc. (US), Qualys Inc., (US), High-Tech Bridge SA (Switzerland), and Acunetix Ltd (U.K.) are a few of the contenders in the market.
The presence of a strong economy in the North American region is expected to motivate the market in the coming period.
The escalation in the level of cyberattacks and frauds is estimated to encourage the market in the coming period.
The global application security market is characterized by the presence of many global, regional, and local providers.
According to MRFR analysis, IBM Corporation was leading the global application security market in 2017. IBM Corporation is a global technology company providing computer systems, computer hardware, software and information technology consulting services. The company leads the market with its world-class application security solutions enhancing web and mobile application security. The company offers products such as IBM Security AppScan and IBM Application Security on Cloud which helps IBM’s customers to scan Web and Android applications for security issues and provide a detailed security report with troubleshooting. This makes IBM Corporation the leader in the global application security market. The company also plans to invest heavily in research and development of innovative application security solutions to maintain its strong market position.
Hewlett Packard Enterprise had successfully occupied the second position in the global application security market in 2017. HPE is a leading multinational technology company and has a diverse portfolio of technology solutions. The company provides world-class application security solutions which help the consumers to find and fix security vulnerabilities in Web applications throughout the application software development life cycle (SDLC). With these solutions, HPE has assisted organizations to reduce web attacks and weaknesses in its web applications and provide built-in security in hybrid IT and edge environments covering infrastructure, applications, data, and devices. This helps HPE to maintain a strong customer base and grow its market position.
Veracode has occupied the third position in the global application security market. Veracode offers SaaS platform and integrated solutions to help security software developers to identify critical vulnerabilities and find fixes to reduce data breaches by hackers. The company also offers testing solutions such as dynamic application security testing, web application perimeter monitoring, vendor application security testing and mobile application security testing. The key competitive advantage Veracode has over its competitors is that its application security solutions support testing for applications built with Scala language and Python Boto 3 framework. Veracode is one of the few applications security vendor supporting static analysis testing for Boto 3 to develop cloud applications for Amazon Web Services. The company invests tremendously in R&D which helps the company to strengthen its marketplace.
Synopsys has occupied the fourth position in the global application security market. Synopsys is a global provider of software products and consulting services in electronic design automation that is used to design and test integrated circuits (ICs). The company offers unique managed application security services which allows organizations to perform on-demand testing with visibility and control. Moreover, the company also offers training for its customers which enables the customers to detect and fix defects in the software development lifecycle and manufacturing solutions for semiconductor manufacturers. The major advantage of the company is its skilled workforce with unmatched experience in application security and testing which differentiates them from other competitors.
Qualys has occupied the fifth position in the global application security market. Qualys offers wide range of application security solutions such as web app scanning & firewall, and IT security. The major advantage Qualys has over its competitors is its Web Application Sanning (WAS) solution which offers complete, accurate and scalable web security that enables organizations to assess, track and remediate web application vulnerabilities. With WAS, Qualys helps organizations reduce costs, resource and deployment issues, and allows scanning of thousands of web applications and APIs. This helps the company to maintain its strong market position. Moreover, the company also plans to partner with security providers who can host their private cloud offering with their data centers.
Other companies such as WhiteHat Security, Checkmarx, Rapid7, Trustwave, and High-Tech Bridge S.A, are also providing wide range of products/services related to application security, thereby contributing in generating high market value for application security market.