Application Security Market

Application Security Market Share

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The global Application Security Market is estimated to be valued at US$ 7.35 Bn in 2022 and is expected to exhibit a CAGR of 18.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Application security focuses on protecting web and mobile applications from being exploited by cyber criminals. Rapid digital transformation across industries has increased the use of applications and the volume of sensitive data stored on them. This has created a huge demand for robust application security solutions to detect and prevent vulnerabilities and cyber-attacks.

Market key trends:

One of the major trends in the application security market is the rise of serverless computing. Serverless computing allows developers to build and run applications without having to manage servers. However, it also raises new security challenges as serverless applications run across multiple cloud providers and platforms. Many providers are now integrating application security testing capabilities within their serverless offerings to help businesses address these risks and comply with regulations.

Segment Analysis:-

The global application security market is segmented by component, deployment mode, organization size, vertical, and region.

By component, the services segment is expected to dominate the market over the forecast period. This is due to increasing demand for professional and managed application security services to implement security programs and perform security testing and validation.

By deployment mode, the cloud segment is expected to be the fastest growing segment. This is due to rise in demand for cloud-based security services due to benefits such as scalability, cost-effectiveness, and ease of deployment.

By organization size, the small and medium enterprise segment is expected to grow at a higher CAGR during the forecast period. This is because SMEs are more vulnerable targets for cybercriminals and require robust application security solutions within budget constraints.

Key Takeaways:-

The Global Application Security Market Size is expected to reach US$ 7.35 Bn in 2021 and is anticipated to grow at a CAGR of 18.5% during the forecast period (2022-2030).

By region, North America dominated the global market in 2021 due to strict data privacy regulations and rising demand from verticals such as healthcare, BFSI, and government in the US and Canada. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to increasing cyber threats and rising digitalization in countries such as India and China.

Key players operating in the application security market are IBM Corporation, WhiteHat Security, Inc.( NTT Security Corporation), Oracle Corporation, Veracode (Thoma Bravo), Qualys Inc., Micro Focus International PLC, Positive Technologies, Checkmarx Ltd, Fasoo.com Inc., Synopsys Inc., Contrast Security, Rapid7 Inc. and SiteLock LLC. These companies are focusing on new launches, partnerships, and expansion to gain significant market share and cater to the growing demand for application security solutions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it