Application Security market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Application Security market by region.
The global Application Security market had market value of USD 2.65 billion in 2017 and is expected to reach USD 9.64 billion by 2023 growing with 24.95% CAGR
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According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2030. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.
This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).
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Application Security is the utilization of software, hardware, and measures that are adopted by enterprises to identify, fix and protect applications against external threats and vulnerabilities such as denial of service attacks, data breaches, data thefts and other cyber-attacks. Various techniques are used to address security vulnerabilities for different stages of an application lifecycle which includes design, development, deployment, upgrade, and maintenance. There are various types of applications security solutions like firewalls, anti-virus programs, encryption programs, spyware detection and removal programs, and biometric authentication systems. Many organizations implement operating system security, network security and end-point or mobile security to inspect, inform, and mitigate cyber threats. Application security is a process to reduce risks associated with developing, running business-critical software and providing effective and proactive risk management solutions.
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The global application security market is growing with the rapid pace is mainly due to increasing monetary transaction through mobile application which consists of confidential information such as account details, banking and login details of user, which is propelling the application security market growth to the large extent. The increasing use of smartphones and rapid growth of e-commerce market are some of the major driving factors for application security market. Application security has been increasingly regarded as the most essential requirement for online financial and e-commerce applications as it enforces data privacy, customer trust, and long-term growth of the organization. Since these applications are accessed from various devices, therefore, numerous channels securing these applications becomes critical. Finance applications include applications performing financial transactions such as online banking portals, insurance applications, and online payment applications. Most of the e-commerce and retail applications deal with daily payment transactions and face host of threats such as identity theft, session hijacking, password hacking, and financial data thefts. Application security solutions provide financial and e-commerce applications with core security features such as authentication, authorization, single-sign-on, session management, and account management.
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Global application security market has been segmented into solution, services, testing type, deployment, organization size, end-users and region. By solution, the market is sub-segmented into web application security and mobile based application security. By services, the market is segmented into professional and managed services. By testing type, the market is categorized into static application security testing (SAST), dynamic application security testing (DAST) and interactive application security testing (IAST). By deployment, the market is sub-segmented into on-cloud and on-premise. By organization size, the market is segmented into SMEs and large enterprises. By end-users, the market is classified into BFSI, IT & Telecommunication, Government & Defense, Healthcare, Retail, Education, and Others.
The key players of Application Security market include Veracode, HPE, Synopsys, IBM Corporation, WhiteHat Security, Qualys, Checkmarx, Acunetix, Rapid7, Trustwave, High-Tech Bridge, and Contrast Security.
Global Application Security Market Analysis & Forecast, from 2018 to 2023
> To provide detailed analysis of the market structure along with forecast for the next 6 years of various segments and sub-segments of the application security market
> To provide insights about factors affecting the market growth
> To analyze the global application security market based on various tools such as Porter’s five force analysis
> To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries
> To provide country level analysis of the market with respect to the current market size and future prospective
> To provide country level analysis of the market for segments by solution, service, testing type, deployment, organization size end-users and region
> To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
> To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the application security market.
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> Investors and consultants
> System Integrators
> Government Organizations
> Research/Consultancy firms
> Technology solution providers
> IT Solution Providers
> Software Developers
> The global Application Security market had market value of USD 2.65 billion in 2017 and is expected to reach USD 9.64 billion by 2023 growing with 24.95% CAGR
> By solution, web application security is leading the market with market value of USD 1.78 billion in 2017, whereas, mobile application security market is projected to grow with 26.87% CAGR during forecast period 2018-2023.
> By services, professional services are dominating the market by generating highest revenue in 2017, whereas, managed services are projected to grow with fastest growing 26.91% CAGR.
> By testing type, Static Application Security Testing (SAST) is dominating the application security market and is expected to grow with 24.06% CAGR, however, Interactive Application Security Testing (IAST), is projected to grow with fastest growing 27.58% CAGR.
> By end-user, Government & Defense industry is dominating the application security market. It has generated highest market value of USD 778.47 million in 2017 and is growing with 26.05% CAGR. Closely followed by BFSI which is projected to mount with fastest growing 28.89% CAGR during forecast period 2018-2023.
> Geographically, North America has been projected to hold the largest market share in the global Application Security market, followed by Europe. Whereas, Asia-Pacific is the fastest growing market, accounting for 27.03% CAGR
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Regional and Country Analysis of Application Security Market Estimation and Forecast
Geographically, North America has dominated the global application security market in 2017 by generating highest revenue of USD 1.01 billion and is expected to be a dominant market through the forecast period. Various industry competitors in North America are working on creating mobile applications for diverse sectors. The rise in these mobile applications has also increased the associated security concerns as the users tend to share their personal information while registering in the application. Another factor that drives the market in North America is the rapid growth in the e-commerce. E-commerce is one of the leading platforms in the region that involve multiple money transactions through different gateways which instils the need for better security solution for such applications.
In Asia-Pacific, the rising economy of the countries plays an important role in the market growth. There are several key players and startups that are rising in the region which are contributing to the market demand substantially. The increasing adoption of smartphones and the applications associated with it is driving the market growth in countries such as China, Japan, India, South Korea and others. Asia Pacific held more than 23% of the global application security market in 2017.
The report on the Application Security also covers the following country-level analysis:
> North America
o Rest of Europe
o Republic of Korea
o Rest of Asia-Pacific
> Rest of the World
o The Middle East & Africa
o South America
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What is the goal of the report?
The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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