IMARC Group, a leading market research company, has recently releases report titled “Application Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global application security market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Industry Overview of Application Security

Application security is the practice of implementing measures and protocols to protect software applications from external threats and vulnerabilities. It incorporates multiple facets, such as coding, design, and deployment. It is available in various types, including firewall protection, data encryption, and intrusion detection systems. It is achieved through various techniques and solutions that work at different stages of the software development lifecycle. It aids in safeguarding the data and business logic that applications handle. It offers numerous benefits like protection against data breaches, maintaining customer trust, and ensuring uninterrupted business operations. It helps in avoiding downtime caused by security breaches, thereby ensuring smooth business operations.

How Big Is the Application Security Market?

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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What are the growth prospects and trends in the application security industry?

At present, the rising frequency and complexity of cyberattacks targeting software vulnerabilities represent one of the key factors impelling the market growth. Additionally, the increasing advancement of artificial intelligence (AI) and machine learning (ML) is offering improved ways to predict and counter security threats and enabling the creation of smarter, more adaptive application security tools.

Besides this, the growing integration of augmented reality (AR) and virtual reality (VR) into applications is creating new avenues for potential security vulnerabilities that are addressed by application security solutions. Moreover, the rising importance of maintaining supply chain security is prompting companies to scrutinize the security posture of their vendors and partners. In addition, the increasing utilization of mobile applications around the world is generating a need for specialized security measures tailored for mobile platforms.

Furthermore, the growth of the fintech and e-commerce sectors, with their reliance on real-time transaction processing, necessitates robust application security to safeguard sensitive financial data. Apart from this, the rising employment of internet of things (IoT) is creating new potential points of entry for cyberattacks, necessitating strong application security measures to secure this interconnected system. Additionally, the increasing adoption of smart technology to improve company infrastructure and services is strengthening the market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

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

Who are the key players operating in the industry?

The report covers the major market players including:

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.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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