Application Security Market Research Report 2023-2032: Market Size, Trends, Industry Share And Analysis | IBM Corporation, Synopsys, Checkmarx, Veracode, MicroFocus

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Application Security Global Market Report 2023 identifies Increased security breaches as the major driver for the Application Security market's growth in the forecast period. For instance, in March 2020, Keepnetlabs, a UK-based security firm, announced a data leak that exposed nearly 5 billion records. Application security enhances the security of the web and mobile-based applications that can mitigate some of the breaches through the application.

The global application security market size will grow from $9.41 billion in 2022 to $11.55 billion in 2023, at a compound annual growth rate (CAGR) of 22.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the application security is expected to grow to $27.49 billion in 2027 at a CAGR of 24.2%.

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Major competitors in the Application Security market are IBM Corporation, Synopsys, Checkmarx, Veracode, MicroFocus.

A key trend in the Application Security market includes lack of application security expertise. According to Burning Glass International Inc., an analytics software company, the demand for application development security and cloud security is a fast-growing skills area projected to grow 164%, and 115% respectively between 2020-2025. According to the ESG and Information Systems Security Association (ISSA) analysis published in August 2020, 70% of cybersecurity professionals claim that their organization is facing issues with the cybersecurity skill shortage. In the past four years, the percentage ranged from a low of 69% to a high of 74%. Therefore, the lack of application security expertise is projected to restrict the growth of the application security market.

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The Application Security market is segmented -

1. By Solution: Web Application Security, Mobile Application Security.
2. By Testing Type: Static Application Security Testing, Dynamic Application Security Testing, Interactive Application Security Testing
3. By End-User: BFSI, IT And Telecommunication, Government And Defense, Healthcare, Retail, Education, Other End Users
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Application Security market.

The Business Research Company's "Global Application Security Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Application Security Market Include:

1. Executive Summary
2. Application Security Market Characteristics
3. Application Security Market Trends And Strategies
4. Application Security Market - Macro Economic Scenario
5. Application Security Market Size And Growth
……
26. Africa Application Security Market
27. Application Security Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Application Security Market
29. Application Security Market Future Outlook and Potential Analysis
30. Appendix

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