“The global application security market is predicted to develop at an 11% CAGR beginning in 2024, reaching USD XX million by 2024 and USD YY million by 2031.”
North America is expected to be the most prominent area in the market. The market is expanding due to the increasing adoption of cloud-based applications, rising security concerns, and stringent regulations and compliance requirements.
Rising Sophistication of Cyber Threats
The increasing sophistication and frequency of cyber threats have had a considerable impact on the application security market. As cyber attackers use more sophisticated tactics to exploit application vulnerabilities, organizations must increase their application security safeguards. This trend is driving up the demand for strong application security solutions and services.
Increasing Adoption of DevSecOps Practices
The increased adoption of DevSecOps methodologies is a major driver in the application security market. DevSecOps integrates security into the software development lifecycle, allowing for early detection and remediation of vulnerabilities.
Organisations are recognising the benefits of shifting security to the left and integrating security testing and controls throughout the development process. According to a recent poll, 68% of organisations have either implemented or intend to deploy DevSecOps methods.
High Cost and Complexity of Application Security Solutions
The high cost and complexity of application security solutions may limit industry growth. Small and medium-sized businesses (SMEs) generally struggle to allocate considerable expenditures for effective application security solutions.
Furthermore, the complexity of integrating and administering multiple security technologies and solutions may impede adoption. Simplifying application security solutions and providing affordable options for SMEs are critical to addressing this constraint.
Web Application Security Dominates the Market
Web application security is the most important category in the application security market. Web apps are a popular target for cyberattacks due to their accessibility and possible weaknesses. Organizations are making significant investments in web application security solutions to protect against threats such as cross-site scripting (XSS), SQL injection, and cross-site request forgery.
Recent industry news emphasizes the need for online application security. In 2022, a large e-commerce platform experienced a data breach due to a flaw in its online application, compromising the personal information of millions of users. This event demonstrates the vital necessity for strong web application security measures.
A market research analysis predicted that the web application security segment will account for more than YY% of the market in 2023. The category is likely to maintain its dominance during the projection period, owing to the growing number of web-based applications and the frequency with which web application attacks occur.
North America Dominates the Application Security Market
North America dominates the application security market. Several reasons contribute to the region's supremacy, including a huge number of firms, widespread usage of cloud-based apps, and severe regulatory requirements.
The United States has the largest market for application security in North America. The country has had multiple high-profile data breaches in recent years, raising awareness and need for application security solutions. The United States government has also enacted strict legislation, such as the California Consumer Privacy Act (CCPA) and the New York SHIELD Act, which require organisations to have strong security measures to protect consumer data.
According to a recent industry report, the application security market in North America would grow at a CAGR of XX% over the forecast period. According to the survey, the United States accounts for more than YY% of the regional market share.
The application security market is fiercely competitive, with several major firms competing for market dominance. Market leaders increase their market position through product innovation, strategic collaborations, and mergers and acquisitions.
In terms of market share, the top five competitors control more than YY% of the global application security industry. These companies include Symantec Corporation, IBM Corporation, Cisco Systems, Inc., Veracode, and WhiteHat Security.
Recent industry developments include the increased use of artificial intelligence and machine learning technologies to improve application security. Market companies are also focussing on offering integrated security solutions that span the whole application lifecycle.
Looking ahead, the application security market is predicted to rise steadily, owing to the increasing usage of cloud-based apps and the growing frequency of cyber threats. The market is also likely to see more consolidation, with larger competitors acquiring specialist security providers to broaden their capabilities.
The application security market is expected to grow significantly in the next few years, owing to increased company digitalisation and the sophistication of cyber threats. Organisations across sectors understand the essential need of securing their applications in order to secure sensitive data and maintain consumer trust.
The adoption of DevSecOps processes is an important market trend. Organisations that integrate security into the software development lifecycle can detect and remediate vulnerabilities earlier, lowering the chance of successful cyber-attacks. This trend is likely to gain traction as more organisations use agile development processes and containerisation technology.
Another important development is the increased use of cloud-based application security solutions. Cloud-based solutions provide scalability, flexibility, and cost-effectiveness, making them appealing to businesses of all sizes. As more applications migrate to the cloud, so will the demand for cloud-based application security solutions.
However, the high cost and complexity of application security solutions continue to be a hurdle, particularly for small and medium-sized businesses (SMEs). Vendors must focus on streamlining their products and providing cost-effective solutions targeted to the needs of SMEs.
Overall, the application security market offers tremendous prospects for growth and innovation. As cyber threats evolve, organisations must invest in strong application security solutions to protect their assets and preserve a competitive advantage.
Symantec Corporation
IBM Corporation
Cisco Systems, Inc.
Veracode
WhiteHat Security
Checkmarx
Qualys, Inc.
Micro Focus International plc
Rapid7, Inc.
Synopsys, Inc.
Symantec Corporation strengthened its product portfolio in January 2024 by acquiring a renowned provider of AI-based application security testing solutions.
IBM Corporation teamed with a major cloud service provider in March 2024 to provide integrated cloud-based application security solutions.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope and Segmentation
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking—Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (KEY COMPANIES LIST BY COUNTRY) (PREMIUM)*
5. COMPANY PROFILES
5.1. Symantec Corporation
5.2. IBM Corporation
5.3. Cisco Systems, Inc.
5.4. Veracode
5.5. WhiteHat Security
5.6. Checkmarx
5.7. Qualys, Inc.
5.8. Micro Focus International plc
5.9. Rapid7, Inc.
5.10. Synopsys, Inc. (*LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Rising Sophistication of Cyber Threats
6.1.2. Shift toward Integrated Security Solutions
6.1.3. Growing Adoption of AI and Machine Learning
6.2. Market Drivers
6.2.1. Increasing Adoption of Cloud-Based Applications
6.2.2. Stringent regulations and compliance requirements
6.2.3. Rising Frequency and Severity of Data Breaches
6.3. Market Restraints
6.3.1. High Cost and Complexity of Application Security Solutions
6.3.2. Lack of skilled cybersecurity professionals
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY COMPONENT (MARKET SIZE/VALUE (US$ MN), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Solution
7.1.1. Web Application Security
7.1.2. Mobile Application Security
7.2. Services
7.2.1. Professional Services
7.2.2. Managed Services
8. BY DEPLOYMENT (MARKET SIZE/VALUE (US$ MN), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Cloud
8.2. On-Premise
9. BY ORGANISATION SIZE (MARKET SIZE/VALUE (US$ MN), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. Large Enterprises
9.2. SMEs
10. BY END-USE (MARKET SIZE/VALUE (US$ MN), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
10.1. BFSI
10.2. Healthcare
10.3. Government & Defence
10.4. Retail & E-Commerce
10.5. Manufacturing
10.6. IT & Telecom
10.7. Energy & Utilities
11. REGION (MARKET SIZE/VALUE (US$ MN), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)*
11.1. North America
11.1.1. United States
11.1.2. Canada
11.1.3. Mexico
11.2. South America
11.2.1. Brazil
11.2.2. Argentina
11.2.3. Rest of South America
11.3. Europe
11.3.1. Germany
11.3.2. United Kingdom
11.3.3. France
11.3.4. Italy
11.3.5. Spain
11.3.6. Russia
11.3.7. Rest of Europe
11.4. Asia-Pacific
11.4.1. China
11.4.2. Japan
11.4.3. India
11.4.4. Australia
11.4.5. South Korea
11.4.6. Rest of Asia-Pacific
11.5. Middle-East
11.5.1. UAE
11.5.2. Saudi Arabia
11.5.3. Turkey
11.5.4. Rest of Middle East
11.6. Africa
11.6.1. South Africa
11.6.2. Egypt
11.6.3. Rest of Africa
*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ MN), SHARE (%), MARKET FORECAST (%), YOY GROWTH (2020-2031)
By Component:
Solution
Services
By Solution Type:
Web Application Security
Mobile Application Security
By Deployment:
Cloud
On-Premise
By Organisation Size:
Large Enterprises
SMEs
By End-Use:
BFSI
Healthcare
Government & Defence
Retail & E-Commerce
Manufacturing
IT & Telecom
Energy and utilities
By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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