Global Application Security Market Size Attains Unprecedented Levels | Projected to Cross USD 33.94 Billion by 2030

The size of the global application security market, which was estimated at $5,973.00 million in 2020, is expected to grow at a CAGR of 18.7% to $33,941.00 million by 2030.

The rise in security breaches affecting business applications and stringent compliance and regulatory requirements for application security are the key drivers of the worldwide application security market growth. In addition, the increased usage of smartphones and the growth in demand for application security in retail and e-commerce organizations boost the demand for application security.

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In 2020, the solution segment exhibited the highest application security market share in and is expected to maintain its dominance in the upcoming years. The rise in demand for mobile application security as well as web application security drives the growth of this segment. For instance, surge in internet penetration as well as adoption of BYOD policies across the organizations has led to the surge in use of a personal devices including smartphones, smart wearable, laptops, and tablets to access organization information. Hence, there is surge in demand for application security solutions to avoid data breaches regarding mobile application.

The integration of security into the DevOps process, known as DevSecOps, is gaining prominence. Organizations are recognizing the importance of early and continuous security testing in the development lifecycle to identify and address vulnerabilities before deployment. As applications increasingly rely on APIs (Application Programming Interfaces) to connect and share data, API security is a critical focus. Ensuring the security of these interfaces is essential to prevent data breaches and unauthorized access.

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With the migration to cloud-native architectures, application security is adapting. Cloud security posture management (CSPM) tools and serverless security solutions are becoming essential for protecting applications and data in the cloud.

The adoption of Zero Trust security models is on the rise. Organizations are moving away from the traditional perimeter-based approach and implementing continuous authentication and authorization to secure applications and data regardless of their location.

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By organization size, the global application security market share was dominated by the large enterprises segment in 2020 and is expected to maintain its dominance in the upcoming years. This is attributed to the rise in adoption of application transformation strategies by large enterprises due to various benefits such as improved flexibility, lower operating costs, better collaboration, and improved time to application security market.

The rise in development of applications leads to the need for implementing security across the applications to achieve greater data security and protect applications from vulnerabilities. However, the small & medium enterprise segment is expected to witness the highest growth rate, owing to the fact that small businesses are at a much greater risk of cyber threats as they mostly do not have the resources to defend against cyber-attacks.

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Some of the key application security industry players profiled in the report include IBM Corporation, Capegemini, MicroFocus, Cisco Systems Inc., Synopsys, Veracode, Whitehat Security, RAPID7, Qualys, and HCL Technologies. This study includes application security market trends, application security market analysis, and future estimations to determine the imminent investment pockets.

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