Veracode (US), HPE (US), Synopsys (U.S.), IBM (US), WhiteHat Security (U.S.), Qualys (US), Checkmarx (Israel), Acunetix (Malta), Rapid7 (US), Trustwave (U.S.), High-Tech Bridge (Switzerland), and Contrast Security (US) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Application Security Market.
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Application Security or AppSec is about facilitating precautionary measures and procedural methods to improve the security of applications (web/ mobile app) to tackle external threats. Application Security measures and prevents the unauthorized access to sensitive data.
Application Security market is perceiving its heydays enjoying the augmented demand from various industry verticals like healthcare, education, corporate, manufacturing among others owing to the market proliferation of connected devices, mobile devices and adoption of BYOD policy in the organizations, worldwide that has raised the development of wireless networking technologies and therefore increasing the vulnerability to security threats.
Besides, augmented adoption of online banking especially mobile banking where the data such as the confidential information like account details, banking and login details of users are saved. These kinds of data are highly vulnerable to any breach/ attack/theft. All these factors cumulatively provide impetus to the demand for the omnipotent application security measures, escorting the application security market to ascended heights globally.
Accrediting the exponential traction and accruals the application security market is enjoying currently Market Research Future (MRFR) has recently published a brilliant study report giving out the complete market insights up till 2023. In its analysis, the MRFR asserts that the global application security market is projected to garner USD 10 Bn. by 2023 with at a whopping double digit CAGR of 25% during the forecast period 2017-2023.
Increasing adoption of Internet of Things (IoT) and bring your own device technology (BYOD) policy are some of the other factors, fuelling the growth of the application security market. Obviously, Defence and BFSI sectors are the largest adopters of application security and hence account for the largest contributors to the market growth globally.
The omnipresent application security concerns are rapidly getting replaced by the new challenges. Thanks to the disruptive technologies and development frameworks such as Cloud services, containerization, orchestration platforms, automated build pipelines, etc. These frameworks have been changing the entire paradigm of the way applications are built (developed) and deployed; each affecting security in a different way.
Application security empowers users by securing data from stealing and manipulation. These solutions are developed to analyze incoming traffic to block attacking attempts thereby paying for any code insufficiencies. It consists of various control measures to prevent data from being hacked that includes cryptography, denial of service, authorization and information gathering.
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To drive the Application Security Market growth and to maintain their position in the market, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development in the highly competitive market for application security.
The MRFR analysis is segmented into six key dynamics for enhanced understanding.
Segmentation By Component: Comprises Solution/Software (Web Application Security, Mobile Application Security) Services (Professional Service and Managed services)
Segmentation By Testing Type: Comprises Interactive Application Security Testing(IAST), Static Application Security Testing (SAST), and Dynamic Application Security Testing (DAST).
By Deployments: Comprises On-Cloud and On-Premise
By Organization Sizes: Small, Medium and Large Organization.
By Verticals: Government and Defence, BFSI, IT and Telecommunication, Healthcare, Retail, and Education among others (manufacturing, oil and gas, and media & entertainment, others.)
By Regions: North America, Europe, APAC and the Rest-of-the-World.
The North America region is projected to retain its hegemony over the global application security market throughout the forecast period. Factors substantiating the market growth in the region include the increasing demand for deploying IT tools, increasing adoption of advanced technologies and the presence of key market players in the region.
The Asia Pacific application security market is expected to demonstrate a remarkable growth owing to the high adoption of application security solutions and growing IT infrastructure in the region.
July 27, 2018 – Imperva (US), an IT security providing company announced the acquisition of DevOps security, a start-up company for US$140 Mn. This strategic move will help Imperva to expand its hybrid cloud security strategy as more companies look to secure their hybrid environments through DevSecOps — automating core security tasks by embedding security controls and processes into DevOps.
January 02, 2018 – Checkmarx Ltd. (US), one of the leading providers of Application Security Solutions announced that it was titled as the top-ranked application security solution of 2017 by IT Central Station.
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LIST OF TABLES
TABLE 1 LIST OF ASSUMPTIONS 19
TABLE 2 GLOBAL APPLICATION SECURITY MARKET, BY SOLUTION, 2017-2023 (USD MILLION) 32
TABLE 3 GLOBAL APPLICATION SECURITY MARKET, BY SERVICES, 2017-2023 (USD MILLION) 35
TABLE 4 GLOBAL APPLICATION SECURITY MARKET, BY TESTING TYPE, 2017-2023 (USD MILLION) 38
TABLE 5 GLOBAL APPLICATION SECURITY MARKET, BY DEPLOYMENT, 2017-2023 (USD MILLION) 41
LIST OF FIGURES
FIGURE 1 GLOBAL APPLICATION SECURITY MARKET: MARKET STRUCTURE 18
FIGURE 2 RESEARCH PROCESS OF MRFR 21
FIGURE 3 TOP DOWN & BOTTOM UP APPROACH 24
FIGURE 4 DROC ANALYSIS OF GLOBAL APPLICATION SECURITY MARKET 26
FIGURE 5 PORTER’S FIVE FORCES ANALYSIS OF THE GLOBAL APPLICATION SECURITY MARKET 29
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