Application Security Market Size, Share, Growth Analysis, By Type(Web Application Security, Mobile Application Security), Component(Security Testing Tools, Container Security, API Security, Services), Deployment Mode, Organization Size, Verticals, and Region - Industry Forecast 2024-2031


Report ID: SQMIG45E2138 | Region: Global | Published Date: June, 2024
Pages: 197 |Tables: 146 |Figures: 78

Application Security Market Insights

Application Security Market size was valued at USD 5.28 Billion in 2022 and is poised to grow from USD 6.08 Billion in 2023 to USD 17.51 Billion by 2031, growing at a CAGR of 14.14 % during the forecast period (2024-2031). 

There are several fundamental reasons that are driving the growth of the market for application security solutions. The growth of this market is due to the heightened frequency and sophistication of attacks that are being aimed at business applications, the advent of mobility and cloud computing, and the pressures arising from compliance and regulatory mandates of application security. Also, there are vast opportunities due to the increasing interest in the service-based applications, particularly with Security-as-a-Service (SaaS) for applications. The next-generation application security platforms are emerging as a core enabler of all modern organizations. These platforms also provided dynamic features like discovery of all services, dependencies, APIs, and data flow of an enterprise application. Such platforms are also being used by companies to improve their security features. For instance, in June 2023, Bionic, a developer of application security platforms, introduced two new features: Business Risk Score and Bionic Indications. These features aimed to provide convenience to engineers to identify security threats they mitigate daily. Bionic Signals uses data from other traditional security tools to enrich information about vulnerabilities and to point at those that pose threats to running applications. The Business Risk Scoring feature then determines the risk level of the application based on the number of vulnerabilities, the capability of the vulnerability to endanger sensitive data because of architecture dependencies, and the ability of the vulnerability to be exploited in the given architecture attack surfaces. From the analysis, it is seen that 34% of the enterprises are actively employing the application security tools that can protect against the threats posed by generative AI. Moreover, 56% of the respondents mentioned that they intend to implement and experiment with these solutions in the future. 

The main reason for the increase in the number of third-party app installations and their usage is the innovation value it delivers to the consumers. These third-party SaaS apps can be extremely beneficial in improving the utility and effectiveness of an organization’s public cloud, but they also present various security risks. Most of them can read, write and delete important information and pose great threats in business operations, compliance and security. The growth of third-party application stores is due to the tremendous influx of applications and the rising costs which are associated with making them available in certified application stores, coupled with regulation standards. Unfortunately, many of these third-party apps may be vulnerable to attacks and data breaches. Among these, the largest and most popular is Aptoide with 150 million users and a million apps. One of the biggest data leaks was in 2019 when an intruder said he had obtained 39 million users’ records and shared data on 20 million customers, including email addresses linked to their login IDs and hashed passwords, on a cybercrime marketplace. 

Security application protection for open-source and third-party dependencies has also been enhanced by artificial intelligence and machine learning techniques by many businesses. Furthermore, the end-users can enhance their security stance and safeguard critical data and code from software supply chain attacks since the groundbreaking solution provides the best zero-trust approach. As a result, there is driving the growth of the market.

Market Snapshot - 2024-2031

Global Market Size

USD 5.28 Billion

Largest Segment

On-premises

Fastest Growth

Cloud

Growth Rate

16.3% CAGR

Global Application Security Market ($ Bn)
Country Share for North America Region (%)

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Application Security Market Segmental Analysis

The Global Application Security Market is segmented by Type, Component, Deployment mode, organization Size, Vertical, and region. Based on Type, the market is segmented into Web Application Security and Mobile Application Security. Based on Component, the market is segmented into Solutions (Security Testing Tools (Static Application Security Testing (SAST), Dynamic Application Security Testing (DAST), Interactive Application Security Testing (IAST), Runtime Application Self-Protection (RASP)) Container Security, API Security, and Others Solution) and Services (Professional Services, (Consulting services, Training & Education, Integration and maintenance, Penetration Testing) Managed Services).  Based on Deployment mode, the market is segmented into On-Premises, and Cloud. Based on Organization Size, the market is segmented into Large Enterprises, and Small & Medium Enterprises. Based on Verticals, the market is segmented into BFSI, Healthcare, IT & ITES, Telecommunication, Manufacturing, Government and Public Sector, Retail & E-commerce, Education, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.  

Analysis by Deployment Mode 

The on-premises segment dominates the market and has the largest market share. Organizations are safeguarding the availability and security of the computer hardware and software at business premises. This factor is driving growth in the on-premises segment. The on-premises solutions provide the platform, systems, applications, and other data by the internal team of the organization. Furthermore, organizations’ information is essential for business processes, and on-premises implementation of solutions is only moderately safe from external threats as the access is managed by internal IT security specialists. 

The cloud segment is expected to grow at the fastest CAGR during the predicted period owing to the growing use of cloud services. Cloud solution is the security and governance measures to protect data in all cloud environments. Transferring data and assets from on-premises facilities to the cloud lowers organizations’ IT operational costs. Different stakeholders are moving substantial volumes of their data to cloud environments at a fast pace and the risk of security breaches. Several cloud providers offer the possibility of building, testing, and deploying with CI/CD to enhance the software development life cycle and integrate the solution into the cloud migration. For instance, In November 2023, Snyk broadened its solutions offering additional integrations by establishing a strategic partnership with Amazon Web Services (AWS) for helping global enterprises deliver security from the code to the cloud. Snyk has introduced a new Snyk integration with Amazon’s services such as Amazon EventBridge, AWS Security Hub, and AWS CloudTrail Lake to provide customers with a single interface and a more contemporary approach to shift code vulnerability management. Because of this factor, cloud-based security has become a crucial tool that is used in identifying threats and securing data and this has benefit boosted the market. 

Analysis by Enterprise Size 

The large enterprises segment held the largest share of the revenue in the year 2023. A variety of business-critical activities, including ordering supplies and services, or handling payments are employed by large enterprises; consequently, multiple applications’ security is at risk. Inoperative business critical applications are risky because they are not updated frequently. Consequently, the trend that has been observed is that larger enterprises are investing in application security system applications. Thus, promoting the growth of the segment. 

The small and medium-sized enterprises segment is anticipated to exhibit the fastest growth rate during the forecast period. The statistics of cyber-attacks are increasing for small and medium businesses. Small and medium-sized business consumers are buying application security applications now more than ever because of the quick embrace of new technology and the onset of work from home. Consequently, enterprise-grade security for end-user applications, identity, data and devices is the new model of security for SMBs that eliminates antiquated virus protection software. Thus, market players are offering easy to use single product propositions as well as comprehensive bundled solutions and tailor-made application security solutions for SMEs. Thus, contributing to the market growth of the segment.

Global Application Security Market Size By Deployment (%)

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Application Security Market Regional Insights

North America dominates the market for application security, and it is predicted to maintain its position till the end of the forecast period. This is because several regions within the developing parts of the world are gradually embracing the use of various software and network security practices, hence the need for solutions. The fact that there are key regional market players in the US and the fact that the level of DevSecOps development in the country is also quite high adds to the dominance of North America. Furthermore, implementing cross-functional DevSecOps teams in the U. S. enables the implementation of solutions in a streamlined manner, while utilizing advanced technologies. For instance, in November 2023, Radware announced of its offering solutions aimed at protecting the data centers of North America’s busiest airports. These are Cloud Application Protection Services and Cloud DDoS Protection Service, intended to improve data center and application security and accelerate the time to protection at Radware. 

Asia Pacific market is growing fast due to new technology advancements and application deployment in DevOps. Companies in countries are increasingly adopting security during the development phase to improve efficiency through technology. For instance, in February 2023, Singapore-based Cybersecurity Distribution Services firm AZ Asia-Pacific signed a deal with Synopsys, Inc. to incorporate Synopsys Software Integrity Group’s application security testing solutions in the ASEAN region including Singapore, Malaysia, the Philippines and others. Currently, Asia Pacific is positioned to grow due to increased usage of SaaS-based security solutions and BYOD in enterprises. Also, the rising use of AI and ML in security is increasing the adoption of application security solutions to quickly detect threats and risks.

Global Application Security Market Size By Geography
  • Largest
  • Fastest

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Application Security Market Dynamics

Application Security Market Drivers 

The Rising Demands for Regulatory Compliance within Solution 

  • Businesses invest in the creation and deployment of essential applications to meet various requirements and protect them from cyber-attacks. Compliance with regulations is essential in the determination of adherence to the set standards in the websites and applications to ensure privacy, data protection, and overall security. Among the standards that address these concerns, the ASVS standard of the Open Web Application Security Project is considered the most suitable one because of its focus on applications. Furthermore, organizations use standards from organizations such as ISO, NIST, and CIS to develop effective application security controls within their overall IT security policies. For Instance, in April 2023 Security Journey, introduced the concept of Recommended Learning Paths targeted at the members of development teams as well as at other participants of SDLC. These paths aim at increasing the understanding of software security and assisting with compliance with regulations. Due to the increasing digitization and use of the internet, applications have become attractive targets for cyberattacks. Therefore, organizations are gradually shifting their focus to sound app security solutions that various cybersecurity companies provide, to prevent the loss of confidential information and to maintain the trust of consumers. This increase is one of the main factors that has been instrumental in the market’s growth. 

Increased Number of Sophisticated Attacks 

  • The advancement in technology and especially the use of the internet in conducting businesses has led to an increase in cybersecurity threats such as through web and mobile applications and a corresponding increase in data breaches. Security Boulevard reported that 60% of the breaches originated from vulnerabilities that were well understood but left unaddressed. App authority identifies non-malware app activity as a major threat that poses a risk in app usage thus increasing the need for application security. Further, there is an increase in the potential threat actors and the consequences of data breaches. With the introduction of regulatory laws such as the General Data Protection Regulation in Europe, fines for data breaches have become the norm in various jurisdictions. For instance, the UK ICO alone has suggested penalties worth 314 million euros; they may cause disruptions to companies’ business soon. These sanctions are increasing in severity, which is pushing the market to implement cybersecurity solutions. 

Restraints 

Budget Constraints and Return on Investment Concerns 

  • Due to the pressure of limited funds and the desire to prevent low return on investment (ROI), firms rarely invest in application security. When applications are restricted to business-critical transactions, for instance, payment, ordering of goods, and services, many enterprises expose numerous other applications. Unused business applications are a major concern because these applications do not receive frequent updates. In many cases, small and medium-sized enterprises (SMEs) think that it is not profitable to invest in the security of such applications. However, these applications are often left unfixed and pose long-term threats, which makes it much easier for an attacker to penetrate an organization’s IT system, regardless of whether the application is a core business application or a Web application that is rarely used. Veracode, a UK based company, has estimated that 66% of internally developed applications are not tested for critical vulnerabilities because of budget constraints or lack of attention.

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Application Security Market Competitive Landscape

The global application security market is highly competitive, driven by the need to address increasing cybersecurity threats and stringent regulatory compliance requirements. Companies in this market are focusing on innovation, integrating advanced technologies like AI and machine learning, and expanding their product portfolios to provide comprehensive security solutions. The market dynamics are influenced by the rising adoption of DevSecOps practices and the shift towards cloud-based security solutions, which offer scalability and flexibility. To maintain a competitive edge, firms are employing strategies such as mergers and acquisitions, strategic partnerships, and continuous enhancement of security testing and threat detection capabilities. This competitive landscape is characterized by intense rivalry as companies strive to offer advanced and integrated application security solutions to meet the evolving needs of their clients. 

Application Security Market Top Player’s Company Profiles

  • Veracode Inc (US) 
  • IBM Corporation (US) 
  • HCL Software (India) 
  • Cisco Systems (US) 
  • Synopsys (US) 
  • Checkmarx (US) 
  • MicroFocus (United Kingdom) 
  • WhiteHat Security (US) 
  • Capgemini SE (France) 
  • Rapid7 (US) 
  • Onapsis (US) 
  • CAST Software (France) 
  • Contrast Security (US) 
  • Qualys (US) 
  • VMware (US) 
  • OneSpan (US) 
  • Trustwave (US) 
  • Imperva (US) 
  • F5, Inc. (US) 
  • Acunetix (US)

Application Security Market Recent Developments

  • In January 2024, IBM, the IT services and consulting giant, announced the acquisition of application modernization capabilities from Advanced. This move, set to be finalized in Q2 2024, aims to bolster IBM's hybrid cloud and AI offerings. The acquisition will enhance IBM Consulting's services, particularly in mainframe application and data modernization, thereby supporting clients' digital transformation journeys. 

  • In December 2023, IBM, the IT services and consulting company, announced the acquisition of StreamSets and webMethods. This strategic move, expected to be finalized in Q2 2024, aims to boost IBM's AI and hybrid cloud capabilities. The integration of these technologies will empower clients to enhance their application and data utilization. 

  • In November 2023, Require Security Inc., launched Falcon, a Runtime Application Security Protection application. This solution provides the highest level of security for companies relying on open-source libraries, safeguarding them against potential threats and vulnerabilities.

Application Security Key Market Trends

  • Adoption of AI and Machine Learning within Threat Detection Solutions: AI and machine learning features are significantly contributing to the market growth as organizations implement AI integration in application security threats solutions. AI solutions play a significant role in the fight against cyber threats as they provide technologies for real-time detection and response. AI-driven systems reduce the likelihood of data breaches and other security threats by quickly identifying and responding to threats as they occur. Additionally, the use of artificial intelligence in threat detection is superior for discovering signs of threats and recognizing possible patterns of security threats, which improves the proactive security approach for organizations. In addition, the assimilation of AI into application security solutions ensures faster and accurate response to security incidents, thus, reducing the consequences of the security threats. For instance, in October 2023, AI Software Inc. launched Denali, a DevSecOps security platform for web applications. Denali applies AI to software delivery processes, code management, and development operations with the help of AI, which demonstrates how AI can improve security measures.

Application Security Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. 

According to our analysis, the global application security market is witnessing robust growth driven by the escalating cybersecurity threats amid increasing digitalization across industries. Organizations are recognizing the critical importance of securing their applications against evolving threats, leading to a surge in demand for advanced application security solutions. Factors such as the proliferation of web and mobile applications, stringent regulatory requirements, and the growing complexity of cyberattacks are propelling market expansion. Moreover, the adoption of cloud-based technologies and the emergence of DevSecOps practices are further driving the market forward. Key players in the market are investing heavily in research and development to offer innovative solutions that address the diverse security needs of businesses. With the integration of artificial intelligence (AI) and machine learning (ML) technologies, the market is witnessing a shift towards more proactive and adaptive security measures. Overall, the global application security market is poised for significant growth as organizations prioritize safeguarding their digital assets against an increasingly sophisticated threat landscape.

Report Metric Details
Market size value in 2022 USD 5.28 Billion
Market size value in 2031 USD 17.51 Billion
Growth Rate 14.14%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Web Application Security, and Mobile Application Security
  • Component
    • Solutions (Security Testing Tools (Static Application Security Testing (SAST), Dynamic Application Security Testing (DAST), Interactive Application Security Testing (IAST), Runtime Application Self-Protection (RASP)) Container Security, API Security, and Others Solution), and Services (Professional Services, (Consulting services, Training & Education, Integration and maintenance, Penetration Testing) Managed Services)
  • Deployment mode
    • Cloud and on-premises
  • Organization Size
    • Large Enterprises, and Small & Medium Enterprises
  • Verticals
    • BFSI, Healthcare, IT & ITES, Telecommunication, Manufacturing, Government and Public Sector, Retail & E-commerce, Education, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Veracode Inc (US) 
  • IBM Corporation (US) 
  • HCL Software (India) 
  • Cisco Systems (US) 
  • Synopsys (US) 
  • Checkmarx (US) 
  • MicroFocus (United Kingdom) 
  • WhiteHat Security (US) 
  • Capgemini SE (France) 
  • Rapid7 (US) 
  • Onapsis (US) 
  • CAST Software (France) 
  • Contrast Security (US) 
  • Qualys (US) 
  • VMware (US) 
  • OneSpan (US) 
  • Trustwave (US) 
  • Imperva (US) 
  • F5, Inc. (US) 
  • Acunetix (US)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Application Security Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Application Security Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Application Security Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Application Security Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Application Security Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Application Security Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

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FAQs

Application Security Market size was valued at USD 5.28 Billion in 2022 and is poised to grow from USD 6.08 Billion in 2023 to USD 17.51 Billion by 2031, growing at a CAGR of 14.14 % during the forecast period (2024-2031). 

The global application security market is highly competitive, driven by the need to address increasing cybersecurity threats and stringent regulatory compliance requirements. Companies in this market are focusing on innovation, integrating advanced technologies like AI and machine learning, and expanding their product portfolios to provide comprehensive security solutions. The market dynamics are influenced by the rising adoption of DevSecOps practices and the shift towards cloud-based security solutions, which offer scalability and flexibility. To maintain a competitive edge, firms are employing strategies such as mergers and acquisitions, strategic partnerships, and continuous enhancement of security testing and threat detection capabilities. This competitive landscape is characterized by intense rivalry as companies strive to offer advanced and integrated application security solutions to meet the evolving needs of their clients.  'Veracode Inc (US) ', 'IBM Corporation (US) ', 'HCL Software (India) ', 'Cisco Systems (US) ', 'Synopsys (US) ', 'Checkmarx (US) ', 'MicroFocus (United Kingdom) ', 'WhiteHat Security (US) ', 'Capgemini SE (France) ', 'Rapid7 (US) ', 'Onapsis (US) ', 'CAST Software (France) ', 'Contrast Security (US) ', 'Qualys (US) ', 'VMware (US) ', 'OneSpan (US) ', 'Trustwave (US) ', 'Imperva (US) ', 'F5, Inc. (US) ', 'Acunetix (US)'

Businesses invest in the creation and deployment of essential applications to meet various requirements and protect them from cyber-attacks. Compliance with regulations is essential in the determination of adherence to the set standards in the websites and applications to ensure privacy, data protection, and overall security. Among the standards that address these concerns, the ASVS standard of the Open Web Application Security Project is considered the most suitable one because of its focus on applications. Furthermore, organizations use standards from organizations such as ISO, NIST, and CIS to develop effective application security controls within their overall IT security policies. For Instance, in April 2023 Security Journey, introduced the concept of Recommended Learning Paths targeted at the members of development teams as well as at other participants of SDLC. These paths aim at increasing the understanding of software security and assisting with compliance with regulations. Due to the increasing digitization and use of the internet, applications have become attractive targets for cyberattacks. Therefore, organizations are gradually shifting their focus to sound app security solutions that various cybersecurity companies provide, to prevent the loss of confidential information and to maintain the trust of consumers. This increase is one of the main factors that has been instrumental in the market’s growth. 

North America dominates the market for application security, and it is predicted to maintain its position till the end of the forecast period. This is because several regions within the developing parts of the world are gradually embracing the use of various software and network security practices, hence the need for solutions. The fact that there are key regional market players in the US and the fact that the level of DevSecOps development in the country is also quite high adds to the dominance of North America. Furthermore, implementing cross-functional DevSecOps teams in the U. S. enables the implementation of solutions in a streamlined manner, while utilizing advanced technologies. For instance, in November 2023, Radware announced of its offering solutions aimed at protecting the data centers of North America’s busiest airports. These are Cloud Application Protection Services and Cloud DDoS Protection Service, intended to improve data center and application security and accelerate the time to protection at Radware. 

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