Application Security Market, By Component (Solution, Service), By Solution (Web Application Security, Mobile Application Security), By Service (Professional Service), By Testing Type (Interactive Application Security Testing) – Global Forecast 2023
In application security market, digitization, mobility and increased focus of hackers to attack application layer are significant factors driving the market growth. The advantages of digitization in application security technology enables organization by providing precise solution against unauthorized access of information. Digital technology supports both upstream and downstream operation of application security process. The capability to provide optimized solution and service to users in real time is the biggest advantage of digital technology. The study indicates application security is benefitted more from digitization in BFSI sector. Mobility in application security market is gaining traction due to increasing monetary transactions through mobile based application. The study also indicates, increased demand of software as a service and rapid advancement in web-based and mobile application is driving the market.
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The segmentation on the basis of deployment includes cloud and on-premise. Cloud solution accounts for highest market share as it helps enterprises by minimizing cost associated with the IT infrastructure. Cloud solution enables enterprise to focus on core business competencies. It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to managing and coordinating business activities and helps in increasing the overall business productivity.
According to Market Research Future Analysis, application security market has been valued at approximately USD 10 Billion by the end of forecast period with approx. 25% of CAGR during forecast period of 2018 to 2023.
Market Research Future (MRFR) recognizes the following companies as the key players in the Application Security Market are- Veracode (U.S.), HPE (US), Synopsys (U.S.), IBM (U.S.), WhiteHat Security (U.S.), Qualys (U.S.), Checkmarx (Israel), Acunetix (Malta), Rapid7 (U.S.), Trustwave (U.S.), High-Tech Bridge (Switzerland), Contrast Security (U.S.), among others.
• Investors and consultants
• System Integrators
• Government Organizations
• Research/Consultancy firms
• Technology solution providers
• IT Solution Providers
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
By testing type segment, application security market consists of static application security testing, dynamic application security testing and interactive application security testing. Interactive application security testing is expected to account for highest market share because of its capabilities to identify openings of security code and detection of false inputs is one of the key factors driving its growth in application security market. It provides users with numerous security measures that includes zero process disruption, instant feedback, code coverage and vulnerability coverage. Static and dynamic tools don’t interpret the results well they require experts to set up and run the tool, while interactive testing does not require any experts and is not affected by size and complexity of application.
By region, MRFR analysis shows that North America region accounts for largest market share inapplication security market owing to growing adoption of application security solution by enterprises in BFSI sector. Wide adoption of application security solution in banking and healthcare is boosting the market in the region. Asia-Pacific region is expected to be one of the fastest growing market owing to increase adoption of cloud based application security solutions by enterprises. In Asia-Pacific region countries such as China, India, South Korea and Japan will be generating high revenue in application security market.
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LIST OF TABLES
TABLE 1 APPLICATION SECURITY MARKET, BY COMPONENT
TABLE 2 APPLICATION SECURITY MARKET, BY TESTING TYPE
TABLE 3 APPLICATION SECURITY MARKET, BY DEPLOYMENT
TABLE 4 APPLICATION SECURITY MARKET, BY ORGANIZATION SIZE
TABLE 5 APPLICATION SECURITY MARKET, BY VERTICAL
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 APPLICATION SECURITY MARKET: BY COMPONENT (%)
FIGURE 3 APPLICATION SECURITY MARKET: BY TESTING TYPE (%)
FIGURE 4 APPLICATION SECURITY MARKET: BY DEPLOYMENT (%)
FIGURE 5 APPLICATION SECURITY MARKET: BY ORGANIZATION SIZE (%)
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