IMARC Group, a leading market research company, has recently releases report titled “Application Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global application security market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market. 

Report Highlights

How big is the application security market?

The global application security market size reached US$ 7.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.6 Billion by 2028, exhibiting a growth rate (CAGR) of 17.1% during 2023-2028.

What is Application Security?

Application security enables identification and addressing of security vulnerabilities and threats within software applications. It involves a combination of coding practices, regular security testing, and assessments. It also implements access controls and authentication mechanisms that ensure secure data storage and transmission. It protects the application from unauthorized access, modification, and exploitation that leads to data theft, system disruption, and numerous malicious activities. It also reduces the risk of data breaches that can cause reputational damage, financial losses, and legal liabilities. Application security improves customer trust and confidence in an organization and minimizes the cost associated with fixing security issues.

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What are the growth prospects and trends in the application security industry?

Rapid digitization and increasing instances of fraudulent activities are catalyzing the demand for flexible, durable, and cost-effective security solutions across various industrial verticals. This represents one of the key factors positively influencing the market across the globe.

In addition, the increasing adoption of application security in healthcare, manufacturing, government, and public sectors are creating a favorable market outlook. Moreover, the adoption of work-from-home (WFH) and bring-your-own-device (BYOD) practices in the corporate working model is increasing the risk of data vulnerabilities.

This, in confluence with the favorable initiatives undertaken by the governments of various countries, is stimulating the growth of the market worldwide.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:

·      Solution

·      Services
 

Breakup by Type:

·       Web Application Security

·      Mobile Application Security
 

Breakup by Testing Type:

·      Static Application Security Testing (SAST)

·      Dynamic Application Security Testing (DAST)

·      Interactive Application Security Testing (IAST)

·      Runtime Application Self-Protection (RASP)
 

Breakup by Deployment Mode:

·      On-premises

·      Cloud-based
 

Breakup by Organization Size:

·      Large Enterprises

·      Small and Medium-sized Enterprises
 

Breakup by Industry Vertical:

·      BFSI

·      Healthcare

·      IT and Telecom

·      Manufacturing

·      Government and Public Sector

·      Retail and E-Commerce

·      Others

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including: 

Capgemini SE, Checkmarx Ltd., Cisco Systems Inc., Contrast Security Inc., International Business Machines Corporation, Micro Focus International plc, Ntt Security Appsec Solutions Inc. (NTT Ltd.), Oracle Corporation, Qualys Inc., Rapid7, Synopsys Inc. and Veracode.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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