WASHINGTON, March 29, 2022 (GLOBE NEWSWIRE) -- The Global Application Security Market finds that the increasing adoption of artificial intelligence and machine learning in web- and mobile-based security process are expediting market growth. Primarily driven by the rise in security breaches, the total Global Application Security Market is estimated to reach 22.54 USD Billion by the year 2028.
The market stood at a revenue of 6.95 USD Billion in the year 2021, and is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.30%.
Furthermore, the increase in the number mobile users is also anticipated to augment the growth of the Global Application Security Market, states Vantage Market Research, in a report, titled “Application Security Market Size, Share & Trends Analysis Report by Component (Software Tools (SAST and DAST), Services), by Type (Web Application Security, Mobile Application Security), by Vertical (Healthcare, BFSI), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
Driver: Increase in Security Breaches to Fuel Global Application Security Market
The increase in percentage of security breaches continues to be a greater threat for most of the consumers and enterprises owing to the hyper-connected business environment and rapid development of digital solutions, connected devices, and associated services. The current digital infrastructure is totally based on communication between critical business applications and data that is shared over several devices, platforms, and users and these applications consists of critical organizational data which becomes the target for the cybercriminals. Furthermore, as per the estimations by F5 Labs, 30% of the overall breaches are due to web and applications with an average reported cost to be USD 8 million per breach and almost 34% of applications remain in a critical condition out of an average of 765 applications, run by typical organization. Thus, due to increase in security breaches that are targeting business applications and organizations across the globe are expected to increase the deployment of application security solutions in near future.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Application Security market is predicted to grow at a CAGR of roughly 18.30% during the forecast period.
- The Application Security market was estimated to be worth roughly USD 6.95 Billion in 2021 and is expected to reach USD 22.54 Billion by 2028; based on primary research.
- On the basis of region, Asia-Pacific is projected to dominate the worldwide Application Security market.
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Opportunity: Surging Adoption of Artificial Intelligence and Machine Learning in Web- and Mobile-Based Security Process to Stimulate Market Growth
The increase in adoption of artificial intelligence and machine learning in web- and mobile-based security process is anticipated to fuel the growth of the Application Security Market in the years to come. AI and machine learning (ML) are critical technologies in information security since they can quickly analyze number of events and identify different types of threats from malware, zero-day vulnerabilities and identifying risky behavior which may result in phishing attack or download of malicious code. Further, these technologies also help to identify and predict new types of attacks. However, budget constraints and return on investments pull back companies for investments are expected to restrain the growth of the market in the near future. Moreover, adoption of application security in small and medium-sized businesses coupled with favorable government regulations is further expected to support the growth of the market in within the estimated timeframe.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the IT industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Application Security Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Asia Pacific to Dominate the Global Application Security Market
Asia Pacific has dominated the global Application Security Market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to the rise in cloud-based networking in the region. Furthermore, increase in penetration of mobile devices along with presence of major players such as Cisco, IBM, Veracode, Contrast Security, and Qualys, among others is also expected to support the regional growth of the market.
Asia Pacific is expected to grow at a fastest CAGR during the forecast period. China dominates the APAC region. This is owing to the increased frequency of security breaches in economies like India and China in the region. Additionally, increasing number of small and medium enterprises in this region is also anticipated to support the growth of the Application Security Market in near future.
List of Prominent Players in the Application Security Market:
- HCL Software (India)
- IBM Corporation (US)
- Synopsys (US)
- Cisco Systems (US)
- Veracode (US)
- Check marx (Israel)
- White Hat Security (US)
- Micro Focus (UK)
- Rapid7 (US)
- Capgemini (France)
- GitLab (US)
- Onapsis (US)
- Contrast Security (US)
- CAST Software (France)
- VMware (US)
- Qualys (US)
- Trustwave (US)
- One Span (US)
- Imperva (US)
- Acunetix (Malta)
- F5 Inc. (US)
- Pradeo (France)
- Now Secure (US)
- Data Theorem (US)
- Lookout (US)
- Kryptowire (US)
- Zimperium (US)
Browse market data Tables and Figures spread through 156 Pages and in-depth TOC on "Application Security Market Size, Share & Trends Analysis Report by Component (Software Tools (SAST and DAST), Services), by Type (Web Application Security, Mobile Application Security), by Vertical (Healthcare, BFSI), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/application-security-market-940364
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Application Security Market?
- How will the Application Security Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Application Security Market?
- What is the Application Security market drivers and restrictions?
- What will be the CAGR and size of the Application Security Market throughout the forecast period?
Recent Developments:
February, 2021: Qualys Inc. announced the launch of Qualys SaaS Detection and Response (SaaS DR) to further its offerings in the application security platform for SaaS applications.
This market titled “Application Security Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size in 2021 | USD 6.95 Billion |
| Projected Market Size in 2028 | USD 22.54 Billion |
| CAGR Growth Rate | CAGR of 18.30% From 2022 – 2028 |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Component • Software Tools (SAST and DAST) • Services • Type • Web Application Security • Mobile Application Security • Vertical • Healthcare • BFSI • Region • North America • Europe • Asia Pacific • Middle East & Africa • Latin America |
| Region & Counties Covered | • North America • U.S. • Canada • Mexico • Europe • U.K. • France • Germany • Italy • Spain • Rest Of Europe • Asia Pacific • China • Japan • India • South Korea • South East Asia • Rest Of Asia Pacific • Latin America • Brazil • Argentina • Rest Of Latin America • Middle East & Africa • GCC Countries • South Africa • Rest Of Middle East & Africa |
| Companies Covered | • HCL Software (India) • IBM Corporation (US) • Synopsys (US) • Cisco Systems (US) • Veracode (US) • Check marx (Israel) • White Hat Security (US) • Micro Focus (UK) • Rapid7 (US) • Capgemini (France) • GitLab (US) • Onapsis (US) • Contrast Security (US) • CAST Software (France) • VMware (US) • Qualys (US) • Trustwave (US) • One Span (US) • Imperva (US) • Acunetix (Malta) • F5, Inc. (US) • Pradeo (France) • Now Secure (US) • Data Theorem (US) • Lookout (US) • Kryptowire (US) • and Zimperium (US). |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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