The Global Application Security Market Analyzed to Reap $12106.32 Million in Revenue by 2028

A recent study by Triton Market Research titled 'Global Application Security Market' contains the Global Analysis and Forecasts by Testing Type (SAST, RASP, DAST, IAST, Others), Deployment (On-Premise, Cloud), Solution (Mobile Application Security, Web Application Security), Service (Professional, Managed), Organization Size (Large Enterprise, Small and Medium Enterprise), End-user (Retail, Government and Defense, BFSI, IT & Telecom, Manufacturing, Healthcare, Others), and by Geography (North America, Europe, Latin America, Asia-Pacific, Middle East and Africa).

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Triton's research report assesses the global application security market to advance based on revenue at a CAGR of 15.10% through the projected period of 2019-2028. It is further estimated to display revenue worth $12106.32 million by 2028.

Application security solutions have become imperative considering the rise in cybercrimes, along with the surge in web services across various verticals, including government and BFSI.

Globally, cybercriminals are targeting information systems across various verticals each year.

Moreover, companies are expanding their business to cloud networks, offering opportunities for hackers to steal confidential data. Hence, the rising cases of cyber breaches are increasing the demand for application security solutions, thereby stimulating the growth of the application security market globally. In addition, outsourcing of IT services and stringent by-laws implemented by governments are another set of factors augmenting the development of the application security market.

However, budget constraints in implementing application security technologies and lack of security expertise are key elements obstructing the expansion of the application security market.

The market for application security is broadly divided into testing type, deployment, solution, service, organization size, and end-user. The testing type is segmented into SAST, RASP, DAST, IAST, and others. Similarly, the deployment section is subdivided into on-premise and cloud. Based on the solution, it is sectioned into mobile application security and web application security.

Further, service is bifurcated into professional and managed. Likewise, organization size is branched into large enterprise and small and medium enterprise. Finally, the end-user segment is categorized into retail, government and defense, BFSI, it & telecom, manufacturing, healthcare, and others.

The Asia-Pacific is likely to become the fastest evolving region in the application security market over the considered period 2021-2028. Among the region's nations, South Korea is gradually becoming a prime target of cyberattacks, owing to the growing adoption of connected devices and significant intelligent property. Moreover, the country has one of the world's fastest IT infrastructure, which is highly vulnerable to cyberattacks. These security issues have led the government to strengthen the security protocols over the past few years. Hence, such measures supplement the growth of the application security market within South Korea, further contributing to the growth of the APAC region.

IBM Corporation, Whitehat Security, Nsfocus, Qualys Inc, Hewlett Packard Enterprise, Pradeo, Veracode Inc, Contrast Security, Trustwave, Checkmarx, Synopsys, Acunetix, Rapid7 Inc, and Sitelock are major enterprises striving in the application security market.

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Question & Answer: Application Security Market

Question 1: What factors are augmenting the development of the application security market?
Answer: Globally, cybercriminals are targeting information systems across various verticals each year. Moreover, companies are expanding their business to cloud networks, offering opportunities for hackers to steal confidential data. Hence, the rising cases of cyber breaches are increasing the demand for application security solutions, thereby stimulating the growth of the application security market globally. In addition, outsourcing of IT services and stringent by-laws implemented by governments are another set of factors augmenting the development of the application security market.

Question 2: What elements are obstructing the expansion of the application security market?
Answer: Budget constraints in implementing application security technologies and lack of security expertise are key elements obstructing the expansion of the application security market.

Question 3: Which region is likely to become the fastest evolving region in the application security market?
Answer: The Asia-Pacific is likely to become the fastest evolving region in the application security market over the considered period 2021-2028. Among the region's nations, South Korea is gradually becoming a prime target of cyberattacks, owing to the growing adoption of connected devices and significant intelligent property.

Moreover, the country has one of the world's fastest IT infrastructure, which is highly vulnerable to cyberattacks. These security issues have led the government to strengthen the security protocols over the past few years. Hence, such measures supplement the growth of the application security market within South Korea, further contributing to the growth of the APAC region.

Question 4: Which are the major enterprises striving in the application security market?
Answer: IBM Corporation, Whitehat Security, Nsfocus, Qualys Inc, Hewlett Packard Enterprise, Pradeo, Veracode Inc, Contrast Security, Trustwave, Checkmarx, Synopsys, Acunetix, Rapid7 Inc, and Sitelock are major enterprises striving in the application security market.

Related Report:

Global Mobile Security Market - https://www.tritonmarketresearch.com/reports/mobile-security-market#report-overview

The global mobile security market is likely to display growth in its revenue during 2021-2028 at a CAGR of 14.35%. It is forecasted to acquire revenue worth $8444.99 million by 2028.

Mobile security solutions primarily help protect an individual's smart devices from several threats, including data theft, malware, accidental loss, and only identity theft.

Factors like the rising number of mobile payments and the growing need for security due to the adoption of BYOD in workplaces are driving the growth of the reviewed market globally. Other than this, the increasing use of machine learning and AI in these solutions, along with the open OS, is opening new opportunities to the mobile security market over the forecast period.

However, the cost of these solutions is relatively higher, which weighs down the progression of the mobile security market.

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