|WhiteHat Security (U.S.)|
|High-Tech Bridge (Switzerland)|
|Contrast Security (U.S.)|
|Market Driving Forces|
|The foundation of the digital infrastructure is focused on communication between business-critical applications and data|
|which are shared across platforms|
Application Security Market to hit USD 27.71 Billion by 2030, registering a 16.87% CAGR during the forecast period, 2022–2030. The application security program can enhance the security of applications. Prevention, fixing and detecting vulnerabilities are some of the tasks of application security. At different levels, the security is made stricter by the software. New security developments, designing and maintaining is the operation of this software.
Today, organizations have plenty of repositories to safeguard. A robust security plan is essential in most enterprises. Hackers are becoming more intelligent with new hacking tools and techniques. Therefore, securing organisation data and finding the loopholes for breaches is essential. The application security acts as a bridge for the security solutions. The application software uses both software and hardware sets to mitigate security issues.
There are plenty of web applications in the application security program. They can effectively protect data and passwords in any organisation. The application security market demand is constantly surging. The need for this program in an enterprise setting and commercial places are high. The new and advanced cyber threats lead to high growth. An on-premise segment of the market is witnessing the highest demand. Application Security Market Report the overall value is estimated to rise by USD 27.71 Billion.
The outbreak of covid 19, is leading to more damages in the global markets. However, the application security market is witnessing high growth. The amount of web applications is rising by 40% in recent years. Also, the number of web application developer rates is surging. The rate of smartphones and mobile use population is massive. Especially, in pandemics the amount of time spent on mobile phones is high. Global lockdowns are restricting people from going out. It is leading to more use of smartphones in casual time. Social media access and online shopping are the keys ask of these mobile users.
To reduce data breaches many mobile application developers are adopting application security. By enhancing their application security they are improving the quality of their services. It is attracting many mobiles users to try out new applications. Also, the surge of governmental apps is leading to more adoption of application security. This positive trend of the application security market is continuing post covid 19.
The increasing rate of data breaches is a crucial driver for the application security market. Advanced security threats are a major concern for enterprises and consumers. Today, the business environment is rapidly adopting digital solutions. These digital solutions mainly enhance communication in businesses. Enterprises are using the highest amount of applications. Due to this, they are the main targets for cyber threats and breaches.
As per the F5 labs report web applications in the enterprise will lead to 30% of breaches in the market. Almost half of the applications in the enterprises are prone to breaches. The rate of patch app for the applications is rising. It makes it easy for hackers to breach the application. The aggressive data sharing and collection is leading to more breaches. It is a major factor that will expand the Application Security Market Size. Further, the increasing demand for mobile application security is another driver for the market.
The use of the mobile application is high from both the enterprise and consumer end. All these factors will lead to high revenue for the application security market.
Adoption of artificial intelligence and machine learning will lead to higher growth opportunities. Today, most of the security threats pass through the security lifecycle. More advanced features are required to advance the application security. Integration of AI and ML is expected to make security solutions stronger. These features can be leveraged into security solutions in many ways. Unlike regular security solutions, AI can detect a breach in advance. With ML automating, the attack is possible. Timely and efficient management of data breaches is attainable with these advancements. These improvements in the application security market will attract plenty of key players to the product.
Furthermore, the internet of things is another reason for high growth. IoT cannot offer hybrid application security. Connecting all the devices and hardware in the organization is possible. Today, many organisations are already adopting IoT. It makes it easy for an end-user to adopt application security. All these market growth opportunities will enhance supply and revenue. The increasing investments in the market will bring more product improvements. All these factors will contribute to the overall expansion rate of the application security market.
The high cost and fewer returns are restraints of the market. Application security is an investment that cannot provide returns for organisations. Rather, it offers safety and revenue loss due to potential data breaches. Due to this, many enterprises think that investing in such security solutions is a waste of money. All these factors make application security seem expensive and useless for a few enterprises.
Due to low spending on these applications remain updated by many enterprises. The purchase of new updates is less in the market. The fewer funds for application security can decline the demand. Also, expansion of the market is affected due to less adoption of new updates.
Lack of cyber awareness remains a challenge for the market. In many regions, the seriousness of cyber threats is less. Most enterprise knows its dangerous effects after massive revenue losses. The lack of awareness can lead to less adoption of application security. The key players of the market are taking initiatives to increase awareness about cyber threats.
However, this market challenge can affect the overall growth rate in the forecast period. The unused applications in enterprise and mobile phones are another challenge to the market. The application security software protects files from active web applications. However, the unused applications can affect and cause breaches that notice of this software. These challenges can decline the overall demand of this market.
The Application Security Market Analysis shows a surging growth trend. The increasing adoption of application security is a crucial market driver. The amount of web application breaches is constantly rising. It leads to high adoption by end-users and consumers. Further, the penetration of mobile phones is positively impacting the market.
Due to high mobile users, the adoption of application security is rising. However, the high cost of the program is increasing the overall growth of this market. Also, the integration of AI and ML will provide more scope for the market. High growth opportunities will lead to exceptional revenue rates for the application security market.
The Asia Pacific is expected to dominating player in the market. It is a region that is expected to hold the highest Application Security Market Share. The frequency of data breaches in this region is massive. It is a region that has high use of open source applications.
Low investment for web applications leads to open source apps. Due to this, the risks and security issues are higher in the market. Malpractices and operational risks are affecting enterprises the most. Lack of cybercrime legislation is leading to more number of accidents. The Application Security Market Players are more in Asia pacific. It will lead to more developments in the region.
By Deployment Mode
By Organization Size
By Testing Type
Competition in the application security market is becoming intense in the forecast period. There are new entrants in the market in upcoming years.
Cost competitiveness is expected to rise in the market. Further, market acquisitions, expansion and partnerships are key strategies in the competitive landscape.
The application security market is diversified into Asia Pacific, Europe and North America. The Asia Pacific is leading other regional players with the highest growth rate. There are plenty of businesses that require application security. Preventing data theft, breach and monetary losses are beneficial for enterprises. Also, there are many Application Security Market Companies in the region.
Further, North America is the next largest market with high shares. It is an early adopter o the application security solution. The high penetration of mobile devices will lead to immense growth in the market. The presence of top players will bring new developments in the forecast period. Further, Europe is another large region with high market growth. All these regional players will contribute to the growth of the global Application Security Business.
The key players of the application security market are
|Market Size||USD 27.71 Billion (2022-2030)|
|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.|
Income potential of USD 27.71 Billion is estimated to be gained by the conclusion of 2030.
A 16.87% CAGR is estimated to motivate the market in the coming years.
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.