- An increasing adoption of internet of things and bring your own device technology (BYOD) is driving the application security market.
- North America is dominating the global application security market.
- Major players are investing on latest technology and, most of all, acquiring other firms.
The global application security market is growing with rapid pace mainly due to increasing monetary transactions through mobile applications, which consists of confidential information such as account details, banking and login details, which is propelling the application security market growth to the large extent.
An increasing adoption of internet of things and bring your own device technology (BYOD) is driving the application security market. According to a recent study report published by the Market Research Future, The global market of application security is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2020 – 2023).
Veracode (U.S.), HPE (U.S.), 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.), are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Application security Market.
The Application Security Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Component: Comprises Solution (Web application security, Mobile application security), Service (Professional services, Managed services) among others. Segmentation by Testing Type: Comprises Static Application Security Testing (SAST), Dynamic Application. Security Testing (DAST), Interactive Application Security Testing (IAST) and others. Segmentation by Deployment: Comprises Cloud, On-Premise.
Segmentation by Organization Size: Comprises Small & Medium Organization, Large Organization. Segmentation by Vertical: Comprises Government and Defense, BFSI, IT and Telecommunication, Healthcare, Retail, Education, manufacturing, oil and gas, and media and entertainment, among others.
Segmentation by Regions comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
North America is dominating the global application security market with the largest market share due to the increasing adoption of advanced technologies and presence of major market players, which is gaining demand in the application security market in these region, and is expected to keep growing through 2023. Global application security market in European market is expected to grow at a substantially high CAGR during 2018 to 2023 due to the high adoption of application security solutions in developing countries. The Asia Pacific market for application security market is expected to grow at a considerable CAGR (2018-2023).
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The market of application security appears to be highly competitive. Attempting to maintain market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations, as well as new entrants are forming a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolios. Major players are investing on latest technology and, most of all, acquiring other firms.
January 25, 2018 – Signal Sciences went into partnership with Optiv Security, a market-leading provider of end-to-end cyber security solutions, to enable cloud and DevOps while protecting their most critical web applications.
Jan. 30, 2018 – GitLab has acquired Gemnasium, a company which offers software to help developers mitigate security vulnerabilities in open source code. These companies are looking forward for the expansion of their product portfolio by implementing robust security scanning functionality.
Jan 23, 2018 – Sumo Logic has went into expansion by acquiring of FactorChain a security startup, to offer a security toolset. With this acquisition, the company is offering innovative solutions which converge operations and security in the cloud.