Application Security Market Competitive Analysis, Segmentation and Opportunity Assessment; 2030
Application Security Market to Reach USD 27.71 Billion by 2030
The global application security market is projected to reach USD 27.71 billion by 2030, according to a new report by Market Research Future (MRFR). The market is expected to grow at a CAGR of 16.87% during the forecast period from 2022 to 2030.
The growth of the application security market is being driven by the increasing adoption of cloud-based applications, the growing number of mobile devices, and the rising awareness about cyber security threats.
Cloud-based applications are becoming increasingly popular due to their cost-effectiveness, scalability, and flexibility. However, cloud-based applications are also more vulnerable to cyber attacks than traditional on-premises applications. This is because cloud-based applications are hosted on shared infrastructure, which makes them a target for hackers.
The growing number of mobile devices is also contributing to the growth of the application security market. Mobile devices are becoming increasingly popular for both personal and business use. However, mobile devices are also more vulnerable to cyber attacks than traditional desktop computers. This is because mobile devices are often used in public places, where they are more susceptible to hacking.
The rising awareness about cyber security threats is also driving the growth of the application security market. Businesses are becoming increasingly aware of the need to protect their applications from cyber attacks. This is leading to an increased demand for application security solutions.
The application security market is segmented on the basis of solution, service, testing, deployment, organization, end-user, and region.
On the basis of solution, the market is segmented into web applications and mobile applications. Web applications are the most widely used type of application, and they are also the most vulnerable to cyber attacks. Mobile applications are becoming increasingly popular, and they are also becoming more vulnerable to cyber attacks.
On the basis of service, the market is segmented into professional services and managed services. Professional services include consulting, training, and implementation services. Managed services include security assessment, monitoring, and remediation services.
On the basis of testing, the market is segmented into static application security testing (SAST), dynamic application security testing (DAST), and interactive application security testing (IAST). SAST is a type of testing that scans the source code of an application for security vulnerabilities. DAST is a type of testing that scans the running application for security vulnerabilities. IAST is a type of testing that combines SAST and DAST.
Browse In-depth Market Research Report (200 Pages) on Application Security Market
On the basis of deployment, the market is segmented into on-premises and cloud-based. On-premises solutions are deployed in the customer's data center. Cloud-based solutions are deployed in the cloud.
On the basis of organization, the market is segmented into small and medium-sized enterprises (SMEs) and large enterprises. SMEs are more likely to adopt cloud-based solutions than large enterprises.
On the basis of end-user, the market is segmented into banking, financial services, and insurance (BFSI), healthcare, retail, manufacturing, and others. BFSI is the largest end-user segment of the application security market.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is the largest market for application security, followed by Europe and Asia Pacific.
The key players in the application security market
are IBM, Capgemini, Whitehat Security, Synopsys, Veracode, MicroFocus, HCL Technologies, Cisco Systems Inc. RAPID, and Qualys.
The application security market is a rapidly growing market, and it is expected to continue to grow in the coming years. The growth of the market is being driven by a number of factors, including the increasing adoption of cloud-based applications, the growing number of mobile devices, and the rising awareness about cyber security threats.
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