Application Security Market Size US$ 20.6 Billion by 2028, With Growth Rate (CAGR) 17.1%

The global application security market size reached US$ 7.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.6 Billion by 2028, exhibiting a growth rate (CAGR) of 17.1% during 2023-2028.

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Application security enables identification and addressing of security vulnerabilities and threats within software applications. It involves a combination of coding practices, regular security testing, and assessments. It also implements access controls and authentication mechanisms that ensure secure data storage and transmission. It protects the application from unauthorized access, modification, and exploitation that leads to data theft, system disruption, and numerous malicious activities. It also reduces the risk of data breaches that can cause reputational damage, financial losses, and legal liabilities. Application security improves customer trust and confidence in an organization and minimizes the cost associated with fixing security issues.

Application Security Market Trends and Drivers:

Rapid digitization and increasing instances of fraudulent activities are catalyzing the demand for flexible, durable, and cost-effective security solutions across various industrial verticals. This represents one of the key factors positively influencing the market across the globe.

In addition, the increasing adoption of application security in healthcare, manufacturing, government, and public sectors are creating a favorable market outlook. Moreover, the adoption of work-from-home (WFH) and bring-your-own-device (BYOD) practices in the corporate working model is increasing the risk of data vulnerabilities.

This, in confluence with the favorable initiatives undertaken by the governments of various countries, is stimulating the growth of the market worldwide.

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Global Application Security Market 2023-2028 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 (2017-2022)
• Market Outlook (2023- 2028)
• 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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