USD 7.21 billion
Global Application Security Market Size, Share, Growth Analysis, By Deployment Type(On-premises and cloud-based solutions), By Size of the Enterprise(Small and medium-sized enterprises (SMEs) and large enterprises), By Verticals(Banking, financial services) - Industry Forecast 2023-2030
Report ID: SQMIG45E2138 | Region: Global | Published Date: May, 2023 | Pages: 157 | Tables: 88 | Figures: 76
Global Application Security Market Insights
Application Security Market size was valued at USD 7.21 billion in 2021 and is poised to grow from USD 8.39 billion in 2022 to USD 28.07 billion by 2030, at a CAGR of 16.3% during the forecast period (2023-2030).
Global Application Security Market is a thriving and dynamic industry that plays a critical role in safeguarding digital applications against potential cyber threats and vulnerabilities. With the exponential growth of digital transformation and the increasing reliance on applications across various sectors, the need for robust application security solutions has become paramount. The purpose of the market is to provide organizations with advanced security measures to protect their applications from unauthorized access, data breaches, and malicious attacks. Application security solutions encompass a range of technologies, including web application firewalls, vulnerability assessment tools, runtime application self-protection (RASP), and secure coding practices, among others. These solutions work in tandem to identify vulnerabilities, detect anomalies, and mitigate risks, ensuring the integrity and confidentiality of sensitive data. The market is primarily driven by the escalating frequency and sophistication of cyber threats. The ever-evolving landscape of cyber attacks, such as application-layer attacks, SQL injection, cross-site scripting, and zero-day exploits, necessitates the adoption of robust security measures. Additionally, stringent regulatory requirements and compliance standards imposed by governing bodies further fuel the demand for application security solutions across industries.
Despite the market's growth potential, there are certain restraints that need to be addressed. One of the key challenges is the shortage of skilled cybersecurity professionals capable of implementing and managing application security measures. Moreover, the complex nature of applications, especially in large-scale enterprises, presents challenges in identifying and remedying vulnerabilities effectively. However, the market also exhibits key trends that present opportunities for growth. One such trend is the integration of artificial intelligence and machine learning algorithms into application security solutions. These technologies enhance threat detection capabilities, automate security processes, and enable real-time response to emerging threats. Additionally, the rising adoption of cloud computing and DevOps practices offers opportunities for implementing proactive security measures throughout the application development lifecycle. The market is teeming with opportunities for vendors and organizations alike. As the number of applications continues to rise, particularly in sectors such as banking, healthcare, and e-commerce, the demand for robust application security solutions will only intensify. Furthermore, the increasing adoption of mobile applications and the proliferation of Internet of Things (IoT) devices present untapped potential for market growth.
Market snapshot - 2023-2030
Global Market Size
Largest Segment
On-Premises
Fastest Growth
On-Premises
Growth Rate
16.3% CAGR
Global Application Security Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
Global Application Security Market Size By Deployment Type 2022-2030 ($ Bn)
Global Application Security Market Size By Deployment Type 2022-2030 (%)
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Global Application Security Market Segmental Analysis
Global Application Security Market is segmented on the basis of deployment type, size of the enterprise, verticals, and region. By deployment type, the market is segmented into on-premises and cloud-based solutions. By size of the enterprise, the market is segmented into small and medium-sized enterprises (SMEs) and large enterprises. By verticals, the market is segmented into banking, financial services, and insurance (BFSI), healthcare, retail & -ecommerce and government & defense. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Application Security Market Analysis by Deployment Type
The on-premises segment holds the largest share of the market, with organizations investing in robust security measures within their own infrastructure. Many enterprises opt for on-premises solutions to maintain control over their security infrastructure, ensuring data privacy and compliance with industry regulations. On-premises application security solutions provide organizations with the flexibility to customize security protocols according to their specific needs and requirements. They offer direct control over the deployment, monitoring, and management of security systems, giving businesses a sense of confidence in safeguarding their critical applications.
While the on-premises segment holds the largest market share, the cloud-based solutions segment is the fastest-growing in the application security market. Cloud-based application security solutions offer scalability, agility, and cost-effectiveness to organizations. As businesses increasingly migrate their applications and workloads to the cloud, the demand for cloud-based security solutions rises. These solutions provide real-time threat intelligence, advanced analytics, and automated security features, empowering organizations to protect their applications from evolving cyber threats. Furthermore, cloud-based solutions eliminate the need for extensive hardware infrastructure and reduce the burden of maintaining and updating security systems. This scalability and ease of management make cloud-based application security an attractive choice for organizations of all sizes.
Application Security Market Analysis by Size of the Enterprise
The largest segment in the application security market is the large enterprises segment. Large enterprises have a significant presence and influence in various industries, making them a prime target for cyberattacks. They often handle a vast amount of sensitive data, including customer information, proprietary data, and financial records. As a result, large enterprises recognize the critical importance of robust application security measures to protect their valuable assets. With the potential financial and reputational consequences associated with data breaches and cyberattacks, large enterprises are increasingly investing in advanced application security solutions. This segment is characterized by its substantial budget allocations and the ability to implement comprehensive security strategies. These enterprises prioritize the deployment of cutting-edge technologies such as AI-powered threat detection, behavioral analytics, and cloud-based security solutions to safeguard their applications and digital infrastructure.
The fastest-growing segment in the application security market is the small and medium-sized enterprises (SMEs) segment. SMEs are recognized as the backbone of economies worldwide, contributing significantly to innovation and job creation. However, their size and limited resources often make them more vulnerable to cyber threats due to a lack of comprehensive security measures. Realizing the potential risks, SMEs are increasingly recognizing the need to enhance their application security capabilities. The rising number of cyber incidents and the growing awareness of the consequences have prompted SMEs to allocate a more substantial portion of their budget to address these security concerns. SMEs are embracing cost-effective and scalable security solutions that cater to their specific needs, such as cloud-based security services, threat intelligence, and managed security services. The rapid growth in the SME segment can also be attributed to regulatory compliance requirements. Many industries, including finance, healthcare, and retail, have specific data protection and privacy regulations that necessitate robust application security measures. As SMEs strive to meet these regulatory standards, the demand for application security solutions tailored to their requirements continues to surge.
Global Application Security Market Size By Deployment Type 2022(%), 2021 (%)
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Global Application Security Market Regional Insights
In terms of the dominating region, North America stands at the forefront. With its strong technological infrastructure, advanced cybersecurity practices, and a large number of prominent application security solution providers, North America commands a significant share of the global market. The region's stringent data protection regulations and the increasing number of cyber threats have further propelled the demand for robust application security solutions. This has created a thriving ecosystem where businesses are actively investing in cutting-edge technologies to safeguard their applications, thereby solidifying North America's dominance in the market.
The fastest-growing region in the Global Application Security Market is the Asia Pacific. This dynamic region is experiencing a rapid digital transformation across various industries, leading to a surge in the adoption of applications and online services. As organizations increasingly recognize the importance of protecting their digital assets, the demand for application security solutions is witnessing exponential growth in the Asia Pacific. Additionally, the region's expanding IT sector, rising investments in cybersecurity infrastructure, and the proliferation of mobile devices are fueling the need for robust application security measures. With a vast population, a rapidly growing economy, and increasing awareness about cybersecurity risks, the Asia Pacific is poised to be the fastest-growing region in the Global Application Security Market.
Global Application Security Market Size By Geography, 2022-2030, 2023-2030
- Largest
- Fastest
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Global Application Security Market Dynamics
Application Security Market Drivers
Increasing Instances of Cyber Attacks
- One of the significant drivers of the global application security market is the increasing instances of cyber attacks. As the digital landscape expands, so does the threat landscape. Organizations across industries face the constant challenge of protecting their applications from sophisticated cyber threats, such as data breaches, malware infections, and ransomware attacks. This has led to a growing awareness of the need for robust application security measures to safeguard sensitive data and maintain the trust of customers and stakeholders. For example, in 2021, the SolarWinds supply chain attack exposed vulnerabilities in numerous organizations' software supply chain, allowing hackers to gain unauthorized access to sensitive information. This incident highlighted the importance of application security and the need for comprehensive solutions to detect and prevent such attacks.
Stringent Data Protection Regulations
- Stringent data protection regulations imposed by governments and regulatory bodies worldwide are driving the adoption of application security solutions. Regulations like the European Union's General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) have placed greater emphasis on the protection of personal data and privacy rights. Organizations are required to implement appropriate security measures, including application security, to ensure compliance with these regulations. For instance, GDPR mandates that organizations handle personal data securely and implement measures to protect against data breaches. This has led to increased investments in application security solutions that can help organizations meet regulatory requirements and avoid substantial fines for non-compliance.
Application Security Market Restraints
Complexity of Application Environments
- The complexity of modern application environments poses a significant restraint in the global application security market. Applications today are developed using a variety of technologies, frameworks, and platforms, including cloud-based architectures, microservices, and APIs. This complexity creates challenges in identifying vulnerabilities and ensuring consistent security across the entire application ecosystem. For example, the adoption of DevOps practices, where frequent updates and deployments are performed, can lead to security gaps if adequate security measures are not integrated into the development and deployment processes. The need to balance security and agility becomes a restraint as organizations strive to maintain a secure application environment without hindering development speed.
Lack of Skilled Security Professionals
- A shortage of skilled security professionals is another restraint in the global application security market. The rapid growth of cyber threats and the increasing complexity of application environments have created a demand for professionals with specialized skills in application security. However, there is a significant shortage of such professionals, making it challenging for organizations to effectively implement and manage robust application security measures. This shortage is further exacerbated by the constantly evolving threat landscape, which requires continuous learning and upskilling of security professionals. As a result, organizations may struggle to find qualified personnel to address their application security needs, leading to potential vulnerabilities in their systems.
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Global Application Security Market Competitive Landscape
The Global Application Security Market is a highly competitive landscape with several key players vying for market share. These players are constantly innovating and developing advanced security solutions to address the growing challenges and threats in the application security space. The competition among these companies is driving innovation and advancements in application security, empowering organizations to protect their critical applications and data from evolving threats.
Application Security Market Top Player’s Company Profiles
- Check Point Software Technologies (Israel)
- Veracode (US)
- Rapid7 (US)
- WhiteHat Security (US)
- Qualys (US)
- Fortinet (US)
- Trustwave Holdings (US)
- F5 Networks (US)
- McAfee (US)
- Imperva (US)
- Akamai Technologies (US)
- Palo Alto Networks (US)
- Acunetix (Malta)
- Trustwave (US)
- HCL Technologies (India)
- Sophos Group (UK)
- AppGuard (US)
Application Security Market Recent Developments
- In October 2022, Qualys, Inc., a disruptive provider of cloud-based IT, security, and compliance solutions, made a strategic move by acquiring the assets of Blue Hexagon. This acquisition aims to integrate artificial intelligence and machine learning (AI/ML) into the Qualys Cloud Platform, unlocking the potential to derive valuable insights from petabytes of fully integrated data. By leveraging Qualys' robust Cloud Platform and its extensive collection of over 10 trillion data points, businesses will now be able to identify behavioral patterns, enhance network threat identification, detect active vulnerability exploitation, and adaptively mitigate risks across all assets and applications. This dynamic combination of integrated security data and machine learning technologies will empower Qualys customers with predictive and automated cybersecurity risk mitigation.
- In June 2022, Synopsys, Inc., a leading provider of electronic design automation and semiconductor IP, successfully acquired WhiteHat Security, a prominent Software-as-a-Service (SaaS) provider specializing in application security. With this strategic acquisition, Synopsys significantly enhances its SaaS capabilities and secures market-leading dynamic application security testing (DAST) technologies, thereby reinforcing its position as one of the industry's foremost providers of comprehensive application security testing solutions. This integration allows Synopsys to offer a broader range of cutting-edge application security testing tools to its customers, ensuring that their software and applications remain resilient against cyber threats.
Global Application Security Key Market Trends
- Adoption of DevSecOps: A prominent trend in the application security market is the adoption of DevSecOps practices. DevSecOps integrates security practices and tools into the DevOps workflow, ensuring that security is built into the application development and deployment processes from the outset. This trend emphasizes the need for a proactive and collaborative approach to application security, where security considerations are an integral part of the entire software development lifecycle. For example, organizations are implementing automated security testing tools that can scan code for vulnerabilities during the development process, enabling early detection and remediation of security issues. By incorporating security into the DevOps pipeline, organizations can achieve faster and more secure software delivery.
Global Application Security Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Application Security Market analysis, the market is experiencing significant growth and is poised for further expansion in the coming years. The increasing reliance on digital platforms and the rising frequency of cyber threats have highlighted the critical need for robust application security solutions. Organizations across various sectors are increasingly adopting application security measures to protect their sensitive data, intellectual property, and customer information from cyber attacks. The market is driven by factors such as the growing number of sophisticated cyber threats, stringent regulatory requirements, and the rising adoption of cloud-based applications. Additionally, the rapid digital transformation and the proliferation of mobile and web applications have created a substantial demand for application security solutions. Furthermore, the market is witnessing advancements in technologies such as machine learning, artificial intelligence, and automation, which are enhancing the effectiveness and efficiency of application security systems. However, challenges such as the complexity of application environments and the shortage of skilled cybersecurity professionals may hinder market growth. Nevertheless, with the increasing awareness about the importance of application security and the continuous efforts of market players to innovate and develop advanced solutions, the global application security market is expected to witness strong growth in the foreseeable future.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 7.21 billion |
| Market size value in 2030 | USD 28.07 billion |
| Growth Rate | 16.3% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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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 Global 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
- Exhibit: Impact analysis of DROC, 2021
- 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 Global 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
- Exhibit: Impact analysis of DROC, 2021
- 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
- Competitive rivalry
- 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(%)
- Total number of companies covered
Methodology
For the Global 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 Global 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 Global Application Security Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global 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.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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