Application Security Global Market Report 2024

“Application Security Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on application security market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for application security? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The application security market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Solution: Web Application Security; Mobile Application Security
• 2) By Testing Type: Static Application Security Testing; Dynamic Application Security Testing; Interactive Application Security Testing
• 3) By End-User: BFSI; IT And Telecommunication; Government And Defense; Healthcare; Retail; Education; Other End Users
• Companies Mentioned: International Business Machines Corporation; Synopsys Inc.; Checkmarx Ltd.; Veracode Inc.; Micro Focus International plc
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Application security involves the systematic development, integration, and testing of security measures within applications to defend against various threats, such as unauthorized access and modifications. Additionally, it encompasses the deployment of tools and methodologies to safeguard applications once the application security measures are in place. The scope of this report focuses solely on goods and services traded between entities or sold directly to end consumers.

The application security market analyzed in this report is categorized by solution, including web application security and mobile application security. Furthermore, it is segmented by testing type, comprising static application security testing, dynamic application security testing, and interactive application security testing. The report also breaks down the market by end-users, with specific sectors such as BFSI, IT & telecommunication, government and defense, healthcare, retail, education, and others.

The application security market research report is one of a series of new reports from The Business Research Company that provides application security market statistics, including application security industry global market size, regional shares, competitors with an application security market share, detailed application security market segments, market trends and opportunities, and any further data you may need to thrive in the application security industry. This application security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The application security market size has grown exponentially in recent years. It will grow from $11. 3 billion in 2023 to $13. 9 billion in 2024 at a compound annual growth rate (CAGR) of 23. 1%. The expansion observed in the historical period can be ascribed to factors such as heightened awareness and training in security practices, the escalating cybersecurity threat landscape, a surge in the frequency and sophistication of cyber attacks, and concerns related to insider threats and privilege abuse.

The application security market size is expected to see exponential growth in the next few years. It will grow to $32. 89 billion in 2028 at a compound annual growth rate (CAGR) of 24. 0%. The anticipated growth in the forecast period is linked to various factors, including the emphasis on supply chain security, the implementation of enhanced multi-factor authentication, continuous security testing practices, a dedicated focus on mitigating insider threats, and the adoption of unified security platforms. Key trends expected during this period encompass the integration of shift left security, the incorporation of DevSecOps practices, the deployment of runtime application self-protection, the automation of security testing processes, a heightened focus on supply chain security, and the implementation of user and data-centric security measures.

The burgeoning growth of the application security market is significantly influenced by the escalating frequency of security breaches at the business application level. This specialized security discipline fortifies web and mobile-based applications, mitigating vulnerabilities that contribute to breaches. For example, data shared by Cyber Security Hub in December 2022 revealed approximately 4,100 publicly disclosed data breaches, compromising nearly 22 billion pieces of information. This surge in breaches at the business application level is a driving force behind the expanding market for application security.

The surging demand for Internet of Things (IoT) technology is slated to be a key driver propelling the application security market forward. IoT's interconnectedness among physical devices, vehicles, and buildings, enriched with sensors, software, and network capabilities, offers application security manifold benefits such as real-time monitoring, heightened visibility, threat identification, and fortified authentication. As indicated by projections from Exploding Topics in March 2023, the expected proliferation of IoT devices to reach 25. 4 billion by 2030 underscores the escalating demand for IoT, thereby fostering the growth of the application security market.

The integration of artificial intelligence (AI) and machine learning (ML) stands as a pivotal defense mechanism against web and mobile-based application attacks. AI's capacity to automate threat detection and response surpasses traditional software-driven approaches. AI-based cybersecurity continually trains itself, autonomously gathering and analyzing data across vast enterprise information systems, correlating patterns in billions of signals relevant to cyberattacks. For instance, Fortinet, a California-based security solutions company, offers a suite of cybersecurity solutions spanning network and web application security, among others. Notably, Fortinet's AI-driven product, FortiWeb, a web application firewall, leverages machine learning and statistical probabilities to detect and mitigate attacks and threats, exemplifying the role of AI and ML in fortifying application security.

Key players within the application security market are strategically directing their focus towards innovative solutions, notably cloud-native application security offerings, to drive revenue growth within their market segment. These specialized security solutions are explicitly designed to safeguard cloud-native applications, catering to the evolving demands of modern enterprises. For instance, in June 2023, Cisco Systems Inc., a prominent US-based technology company, unveiled Panoptica, a comprehensive cloud-native application security solution. Panoptica is specifically engineered to deliver end-to-end protection across the entire lifecycle of cloud-native application environments, from development through deployment to production. It is adept at ensuring the inherent safety of modern applications from their inception. Panoptica introduces a novel attack route engine that empowers teams to swiftly identify potential hazards, prioritize alerts, and efficiently address critical issues.

In October 2022, Pradeo SAS, a distinguished cybersecurity company based in France specializing in mobile application security, acquired Yagaan, marking a significant move within the application security domain. This strategic acquisition enables Pradeo to integrate pivotal elements, particularly source code testing for applications, thereby fortifying its arsenal for offering comprehensive cybersecurity services. The acquisition positions Pradeo to expand its service spectrum by incorporating web application security, achieving coverage across the entire mobile security chain. Yagaan, a France-based company specializing in application security, augments Pradeo's capabilities and offerings in this domain.

Major companies operating in the in the application security market report are International Business Machines Corporation, Synopsys Inc., Checkmarx Ltd., Veracode Inc., Micro Focus International plc, WhiteHat Security Inc., Rapid7 Inc., Contrast Security Inc., Qualys Inc., Trustwave Holdings Inc., Acunetix Limited, HCL Technologies Limited, Cisco Systems Inc., Capgemini SE, Onapsis Inc., GitLab Inc., CAST, VMware Inc., OneSpan Inc., Imperva Inc., F5 Networks Inc., NowSecure Inc., Pradeo Security Systems, Lookout Inc., Data Theorem Inc., Zimperium Inc., Kryptowire LLC, Appthority Inc., NSFocus Information Technology Co. Ltd., N-Stalker Inc., Oracle Corporation, SiteLock LLC, Fasoo. com Inc., Apriorit Inc., UnderDefense LLC, Exodata S. A. S, Palo Alto Networks Inc., McAfee LLC, Microsoft Corporation, CrowdStrike Inc., OneTrust Inc., Fortinet Inc., WhiteSource Software Ltd., SecureLink Inc., Appknox

North America was the largest region in the application security market in 2023. The regions covered in the application security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the application security market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The application security market includes revenues earned by entities by scanning database security, analyzing software composition and testing interactive application security. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.