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The application security market size is projected to grow by USD 13.14 billion with a CAGR of 19.32% between 2022 and 2027. The expansion of the market hinges on various factors, such as the rising occurrence of data breaches, heightened demand for cloud-based application security solutions, and the imperative of adhering to regulatory requirements. As data breaches become more prevalent and damaging, organizations are increasingly prioritizing the security of their applications. Cloud-based solutions offer scalability and flexibility, making them attractive to businesses seeking effective security measures. Furthermore, regulatory frameworks mandating stringent security protocols drive the adoption of robust application security solutions. This confluence of factors underscores the importance of implementing comprehensive security measures to protect against evolving threats and ensure compliance with regulatory standards. This market growth and trends report includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report also includes historic market data from 2017 to 2021.
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The market share growth by the on-premises segment will be significant during the forecast period. On-premises application security can be defined as the deployment of security solutions within an organization's own physical infrastructure or data centres rather than using cloud-based services. This solution enables organizations to have direct control over their systems and data, which can be favourable for certain industries or businesses with specific security requirements.
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The on-premises segment was valued at USD 2.98 billion in 2017. The various services and solutions offered by the global market based on on-premise deployments include protecting applications, both Web application firewall market, and mobile app security, from potential threats and vulnerabilities throughout their lifecycle.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Mobile app security refers to the practice of safeguarding mobile applications from potential threats and vulnerabilities. Factors like the proliferation of mobile devices and the ascent of cloud-based networking, coupled with the presence of major players like IBM, Cisco, Veracode, Contrast Security, Synopsis, and WhiteHat Security, significantly propel the growth of the Mobile App Security market worldwide. Notably, North America's prominent markets, especially in the US, lead due to their technological advancement and pioneering role in technology adoption. The region's increased adoption of cloud-based Mobile App Security services stems from rising security threats, thereby driving the global market's growth trajectory in the region for the forecast period.
The Market is rapidly evolving to address compliance and regulatory requirements regarding customer data security. With the rise of hackers targeting vulnerabilities in software development, businesses are increasingly concerned about security. Third-party dependencies in digital infrastructure pose additional risks, requiring robust security measures for business-critical programs. To mitigate these security concerns, companies are advised to regularly patch apps and carefully manage data sharing. As more devices connect to the internet through IoT, ensuring the security of online apps and internet access becomes paramount. The market continues to expand as organizations prioritize safeguarding their digital assets against evolving threats.
One of the key factors driving the global market growth is the rise in demand for cloud-based application security solutions. Several companies such as IBM and Broadcom offer cloud-based application security solutions due to the growing adoption of these solutions across industries. One of the key reasons for this increasing demand is that cloud-based solutions are less expensive than on-premises solutions and they do not require the actual installation of hardware and software, as they are maintained at the vendor data center, from where they can be accessed by enterprises on a subscription basis.
The main advantage of these solutions is that it is easier and less time-consuming than that of the on-premises application security solution. Also, the return on investment (ROI) is higher in the cloud-based application security solution. Furthermore, all enterprises only need to pay a subscription fee for each device, which comprises the maintenance and system upgrades. Thus, the cloud-based model is adopted across all the SMEs, as it enables them to use these solutions at a low cost. Hence, such benefits and cost factors are expected to drive the global market growth during the forecast period.
A key factor shaping the global market growth is the prevalence of shadow IT. Shadow IT is a digital solution that is widely used across enterprises as a communication and collaboration tool to minimize workloads. Some of the prominent shadow IT tools include applications such as Slack, Google Docs, and Evernote.
The prevalence of shadow IT can be a significant threat to enterprises as It can increase the possibility of data loss due to unsecured cloud services, and sensitive data can be easily transmitted to persons outside of the enterprise. Thus, the application security solution can help enterprises to ensure the security of sensitive information by deploying this solution in the enterprise's entire network, thus helping it to comply with the regulations for securing sensitive data. Hence, such benefits are expected to drive the global market growth during the forecast period.
The threat from open-source application security solutions is one of the key challenges hindering global market growth. One of the key challenges to the market is the open-source application security solutions as they can be downloaded and run on all platforms and also they are becoming increasingly popular in developing economies such as India and China.
There is a growing adoption of open-source application security solutions across small-scale enterprises in these countries that cannot afford to invest in expensive on-premises and cloud-based application security solutions. Also, such applications need capital investment and are very economical for organizations with limited resources and expertise. Hence, such factors are expected to hinder the global market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Rapid7 Inc: The company offers application security services such as DAST, replay attacks and validate fixes.
This market analysis and report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.
The market is critical in the face of increasing cybersecurity threats and security breaches targeting web and mobile applications, especially with the widespread adoption of mobile and cloud-based technologies. Businesses, including large enterprises and small and medium-sized enterprises, are turning to technologically advanced solutions such as Artificial Intelligence (AI) and Machine Learning (ML) to combat cybercriminals and fraudsters. AI-driven methods and big data analytics are being employed to enhance security in various sectors, from online commerce to government apps. Application vulnerabilities are being addressed through techniques like Static Application Security Testing (SAST) and Dynamic Application Security Testing (DAST).
Moreover, the financial institutions and banking sectors are particularly focused on securing business applications and Dentists' CAD systems to prevent data theft and malware attacks. As application layer security flaws continue to be exploited, there's a growing emphasis on vulnerability management prioritization and fourth-party risk posture assessment. The market is evolving to address the unique challenges posed by the increasing adoption of Software as a Service (SaaS) and the integration of Bionic Signals in various applications. Industries such as banking and financial institutes are enhancing security measures for their hospital inventory management systems and corporate infrastructure to safeguard against cyber threats targeting web apps, mobile apps, and on-cloud solutions. In the realm of digital marketing and social media influencing, there is a growing need for secure content marketing strategies and cloud software programs to protect user data. User Interface (UI) design considerations include transparent data encryption and anonymization technology to ensure data privacy. As AI workloads become more prevalent, ensuring workload protection is paramount in maintaining a secure application environment.
Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 19.32% |
Market growth 2023-2027 |
USD 13.14 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
18.2 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 39% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Broadcom Inc., Capgemini Service SAS, Checkmarx Ltd., Contrast Security Inc., Dynatrace Inc., F5 Networks Inc., Fasoo, Fortinet Inc., Hewlett Packard Enterprise Co., ImmuniWeb SA, International Business Machines Corp., Invicti Security Ltd., NTT Corp., PRADEO Security Systems SAS, Qualys Inc., Rapid7 Inc., Singapore Telecommunications Ltd., Sitelock LLC, Synopsys Inc., and Trend Micro Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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