Application Security Market to Hit 24.8% CAGR to 2021

May 11, 2016, 08:30 ET from Market Reports Hub

PUNE, India, May 11, 2016 /PRNewswire/ --

Global application security market size is estimated to grow from $2.24 billion in 2016 to $6.77 billion by 2021, at a CAGR of 24.8% from 2016 to 2021 with factors such as rise in security breaches targeting business applications, stringent regulations and compliance requirements, and rapid deployment of web- and mobile-based applications driving this growth.

Complete report on application security market across 156 pages, profiling 10 companies and supported with 120 tables and 58 figures is now available at http://www.marketreportshub.com/application-security-industry-research-marketsandmarkets.html .

The SAST segment is expected to contribute the largest share in the application security market during the forecast period. The IAST segment is expected to grow at the highest rate from 2016 to 2021, in the application security market, as it combines both Static Application Security Testing (SAST) and Dynamic Application Security Testing (DAST) capabilities to scan the source code while the application is in the operating state.

The Banking, Financial Services, and Insurance (BFSI) vertical is expected to grow at the highest rate from 2016 to 2021, in the application security market. One of the major factors responsible for such a high growth rate is the increasing government regulations like Payment Card Industry Data Security Standard (PCI DSS), which has prompted the BFSI vertical to rapidly adopt application security solutions. The application security market is also projected to witness growth in the health care, retail, and IT & telecom verticals, during the forecast period.

North America is expected to hold the largest market share and dominate the application security market from 2016 to 2021, due to the presence of a large number of application security vendors. Asia-Pacific (APAC) offers potential growth opportunities, due to rise in the Internet of Things (IoT) and Bring Your Own Device (BYOD) trend in organizations, which has given rise to the usage of web and mobile based applications.

The various key application security vendors profiled in this report such as IBM Corporation, Hewlett Packard Enterprise, WhiteHat Security, Veracode, Qualys, Checkmarx, Rapid7, Trustwave, Cigital and Acunetix. Order a copy of Application Security Market by Component (Solutions, Services), Solutions (Web Application Security, Mobile Application Security), Testing Type (SAST, DAST, IAST), Deployment Mode, Organization Size, Vertical, Region - Global Forecast to 2021 research report at  http://www.marketreportshub.com/purchase?rpid=3832 .

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (55%), Tier 2 (20%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (60%), Director Level (25%) and others (15%) from various key organizations operating in the global application security market. The primary interviews were conducted worldwide covering regions such as North America (10%), Europe (20%), Asia-Pacific (40%), and RoW (30%).

On a related note, another research on "Vendor Comparison in Mobile Application Security, 2015: MnM DIVE Matrix" report covers the comprehensive study of the key vendors offering solutions for mobile application security. The major 10 vendors in mobile application security were analyzed on the basis of their product offering and business strategy. The vendors were shortlisted based on their solution capabilities, technology innovations, and breadth of product offering. Vendors like Appthority, Arxan Technologies, Cigital, Checkmarx, IBM Corporation, HP, Pradeo, Rapid7, Veracode and WhiteHat Security have been profiled in this 54 pages of research report available at  http://www.marketreportshub.com/vendor-comparison-in-mobile-application-security-industry-research-marketsandmarkets.html .

Explore more reports on I.T. & Telecommunication market at http://www.marketreportshub.com/categories/i-t-telecommunication

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