The global application security market is projected to rise at a considerable rate from 2020 to 2025. This is attributed to the growing security breaches at the organization's application-level globally. Since the software application has become an essential attribute of any organization irrespective of its key business operation, the security of these applications has been a big apprehension to various organizations. The organizations are often accessible to the network and therefore susceptible to an array of security risks. Application security helps to safeguard their critical information from external threats by protecting all the software that is used throughout the operations.
The size of the global market for The rapid growth of mobile applications and e-commerce industry is fuelling growth in Application Security is expected to reach $27.71 Billion by 2030, expanding at a compound annual growth rate (CAGR) of 16.87%.
The cloud and mobile-based computing technology have radically changed the business landscape throughout the globe. Presently, most of the organizations use software applications to perform their business processes, for instance, Amazon highly relies on its mobile application and online website to sell a range of products to its customers. The rapid advancements in mobile and web-based applications have created more distributed, complex IT infrastructures that are challenging to secure.
Stringent compliance requirements and by-laws within the organizations is expected to drive the Application Security Market
Growing requirements for measures during each level of the Software Development Lifecycle (SLDC) to safeguard the applications and related critical information is anticipated to influence the application security industry growth. The essential role of the application security that includes identifying, fixing, and inhibiting security vulnerabilities detected in the software application during SLDC is projected to augment the market demand. Furthermore, stringent compliance and laws regarding cybersecurity in various nations creating the need for the IT group to implement security measures within several industries that include BFSI, retailers, healthcare, and others.
Mobile application security is amongst the emerging type for the application security market
The demand for mobile application security globally is anticipated to increase at a significant growth rate over the forecast period. The increasing adoption of BYOD policies and rising internet usage within the organizations have encouraged the usage of smartphones and mobile devices to access enterprise data remotely. This has led to a growing number of the corporate network along with the non-IT controlled applications in the last few years. The possibilities of data breaches on mobile devices thus increase, which in turn retort to a high demand among enterprise and individual users to safeguard their critical data exposed to the private and public network.
Asia-Pacific will lead the growth in this market
The Asia Pacific region accounted for a considerable market share in 2019 within the application security market. The rising independence on the internet has led to increased vulnerabilities, enabling opportunities for attackers and hackers. Various SMBs along with large enterprises within the region have been capitalizing on cybersecurity, due to the growing issues of privacy breaches. The rising mobile and web applications, increasing incidences of cyberattacks at the application layer, along with strict government regulations are likely to further fuel the growth of the application security industry within the Asia Pacific region in the coming five years.
Key Market Players
- Contrast Security
- Hewlett Packard Enterprise
- Virtual Forge
- WhiteHat Security
Key Segment Of The Application Security Market
By Solution, 2022-2030(USD Million)
• Web Apps
• Mobile Apps
By Service, 2022-2030(USD Million)
By Testing, 2022-2030(USD Million)
By Deployment, 2022-2030(USD Million)
• On Cloud
• On Premise
By Organization, 2022-2030(USD Million)
• Sm Es
Regional Overview, 2022-2030 (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa