Application Security Market Size is Expected to Garner US$ 17.67 Billion and Grow at 17.60% CAGR 2022-2027

The latest research study "Application Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global application security market reached a value of US$ 6.48 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 17.67 Billion by 2027, exhibiting a CAGR of 17.60% during 2022-2027.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Application security is a technique of developing and analyzing the features of various apps to prevent security vulnerabilities against threats such as unauthorized modification and the risk of unusual activities. It includes several steps that secure the platform and eliminate third-party access. It also helps organizations secure customer data, protect sensitive data from leaks, and safeguard information about crucial lenders and investors. As a result, application security solutions are gaining traction across various industries worldwide.

Application Security Market Trends and Drivers:

The market is primarily driven by the increasing applications of flexible, durable, and cost-effective security solutions across the information technology (IT), telecom, e-commerce, and banking, financial services, and insurance (BFSI) industries.

In addition, the rising deployment of work from home (WFH) and bring your own device (BYOD) corporate models due to the outbreak of coronavirus disease (COVID-19) pandemic represent another major growth-inducing factor. Besides this, governments of numerous countries are undertaking various initiatives to strengthen cybersecurity by incorporating security identifiers (IDs).

This, coupled with the growing need to determine each phase of the software development lifecycle (SDLC) for protecting software and critical data, is positively influencing the market growth. Moreover, the widespread adoption of personal smart devices, such as laptops, smartphones, tablets, and smart wearables, is also escalating the demand for application security solutions across the globe.

Global Application Security Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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.

The report has segmented the market on the basis of region, component, type, testing type, deployment mode, organization size and industry vertical.

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

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

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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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