WESTFORD, Mass. , July 5, 2024
/PRNewswire/ -- According to SkyQuest, the global Application
Security Market size was valued at USD
5.28 Billion in 2022 and is poised to grow from USD 6.08 Billion in 2023 to USD 17.51 Billion by 2031, growing at a CAGR of
14.14 % during the forecast period (2024-2031).
High reliance on applications and growing digitization around
the world are key factors that promote the demand for application
security. Increasing sophistication and frequency of cyberattacks
on a global scale is also predicted to augment the application
security market growth trajectory across the forecast period. The
imposition of stringent safety mandates by regulatory bodies is
also bolstering the demand for better application security
solutions. The global application security market is segmented into
component, deployment mode, organization size, vertical, and
region.
Download a detailed overview:
https://www.skyquestt.com/sample-request/application-security-market
Application Security Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
USD 6.08
billion
|
Estimated Value by
2031
|
USD 17.51
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 14.14%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Type, Component,
Deployment Model, Organization Size and Verticals
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Increased Number of
Sophisticated Attacks
|
Key Market
Drivers
|
The Rising Demands for
Regulatory Compliance within Solution
|
Segments covered in Application Security Market are as
follows:
- Type
- Web Application Security, and Mobile Application Security
- Component
- Solutions (Security Testing Tools (Static Application Security
Testing (SAST), Dynamic Application Security Testing (DAST),
Interactive Application Security Testing (IAST), Runtime
Application Self-Protection (RASP)) Container Security, API
Security, and Others Solution), and Services (Professional
Services, (Consulting services, Training & Education,
Integration and maintenance, Penetration Testing) Managed
Services)
- Deployment Mode
- Organization Size
- Large Enterprises, and Small & Medium Enterprises
- Verticals
- BFSI, Healthcare, IT & ITES, Telecommunication,
Manufacturing, Government and Public Sector, Retail &
E-commerce, Education, and Others
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On-premises Deployment of Application Security Solutions is
Preferred for its Better Control and Flexibility
On-premises application security solutions and systems are
usually handled by a company's own employees, and this is why they
are somewhat safer from cyberattacks or breaches. Little to no
involvement of external personnel in the management and operation
of on-premises application security is what gives the users and
organizations the satisfaction of a better-secured application.
Large enterprises are more inclined to opt for such solutions as
this requires substantial capital investment and commitment over
the long term.
Most application security companies are projected to target
cloud deployment owing to rising awareness and acceptance of cloud
technologies and platforms. Advancements in cloud computing
technologies and the high emphasis of organizations on improving
resource utilization are predicted to favor the demand for
cloud-based application security solutions in the future.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/application-security-market
Large Enterprises More Inclined to opt for Application
Security Solutions Owing to Their High Spending Capacity
Large enterprises use a variety of applications to ensure their
operations and infrastructure run as intended. This includes
third-party apps as well as internal company applications. The
security of these applications is the priority as any lapses in
them could lead to devastating data breaches and cyberattacks.
Rising spending on large enterprises on improving their
cybersecurity and specialized emphasis on application security is
also making this segment an important one for application security
providers. Small and medium enterprises (SMEs) are also expected to
create new opportunities for application security companies in the
future as application security becomes more affordable and
important.
Software Tools to Remain Quintessential in Creating and
Managing Application Security
Application security testing software is a key segment where
almost all application security companies are focusing. Ensuring
proper testing of application security is an essential task and any
lapses in this could lead to vulnerabilities in applications that
hackers can exploit. Multiple testing tools and testing approaches
are being explored to ensure the efficacy of application security
solutions.
Dynamic Application Security Testing (DAST) is gaining massive
popularity around the world and all application security companies
are trying to take this approach to maximize the security of their
offerings. Investing in application security testing tools will
never be a bad choice for any company looking to make a mark in the
global application security market going forward.
Application security providers need to stay updated with new
threats and incorporate the same in their products to stay relevant
in the market. Investments in development of new application
security solutions with advanced technologies and features should
be the focus of upcoming as well as established application
security market players in the long run.
Related Report:
Cyber Security Market
Blockchain Identity Management Market
Secure Access Service Edge Market
Zero Trust Security Market
Endpoint Security Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
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SOURCE SkyQuest Technology