Application Security Market size is set to grow by USD 13.144 bn from 2023-2027, growing number of data leaks to boost the market growth, Technavio

NEW YORK, May 16, 2024 /PRNewswire/ -- The global application security market size is estimated to grow by USD 13144.45 mn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of 19.32% during the forecast period. 

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Key Market Trends Fueling Growth

The Application Security market encompasses solutions addressing security concerns in business applications, web applications, mobile applications, IoT, and online commerce. Threats include cybercriminals, hackers, malware, data theft, and cybersecurity threats. Key drivers are the adoption of cloud-based services, IoT devices, and technologically advanced solutions. Challenges include application vulnerabilities, third-party dependencies, and sensitive data protection. Solutions provide security for bionic signals, big data analytics, AI-driven methods, and customer data. Concerns extend to financial institutions, government apps, and corporate infrastructure. Deployment options include on-cloud and on-premises. 

Market Challenges

• The application security market faces significant challenges from open-source solutions, which are gaining popularity in developing economies due to their affordability. These tools, available for free download and use on various platforms, cater to small-scale enterprises unable to invest in costly on-premises or cloud-based alternatives. SonarSource S.A's SonarQube is an instance of such open-source security testing tools, helping enterprises assess web application source code quality and identify vulnerabilities like cross-site scripting, DoS attacks, and SQL injection. In today's digital landscape, application security concerns extend to various sectors, including dentists' CAD systems, financial institutions, government apps, and online commerce. Threats such as malware, data theft, and cybercriminals pose risks to business-critical programs, corporate infrastructure, and mobile devices. Technologically advanced solutions like transparent data encryption, anonymization technology, and AI workloads are essential for securing digital infrastructure against these threats. Moreover, the application security market requires workload protection, vulnerability management prioritization, and fourth-party risk posture assessment. Cloud software programs, user interfaces, and online apps are increasingly targeted, necessitating robust security measures. Internet access and mobile devices, including IoT, are also significant vulnerabilities that need addressing. In summary, the application security market demands comprehensive, professional solutions to protect against a myriad of threats.

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Segment Overview 

This application security market report extensively covers market segmentation by

1. Deployment 
• 1.1 On-premises
• 1.2 Cloud
2. End-user 
• 2.1 Web application security
• 2.2 Mobile application security
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 Middle East and Africa
• 3.5 South America

1.1 On-premises- The Application Security market segmentation by deployment model encompasses on-premises solutions, which are integral to digital marketing, social media influencing, and content marketing strategies. On-premises application security solutions fortify cloud software programs, ensuring UI security and implementing transparent data encryption and anonymization technology. These solutions safeguard AI workloads, prioritizing workload protection and vulnerability management for large enterprises and SMEs. On-premises application security is crucial for customer data security and protecting sensitive business applications from cybersecurity threats, including hackers and application vulnerabilities. Bionic Signals and big data analytics employ AI-driven methods to mitigate third-party dependencies and secure Dentists' CAD systems. Web application security and mobile application security are essential components, shielding against data breaches in financial institutions and other business-critical programs. On-premises application security solutions address security concerns by patching apps, managing data sharing, and securing mobile devices and IoT devices. In the face of increasing cybercriminal activities, on-premises application security remains a vital investment for organizations seeking to maintain control over their digital infrastructure and mitigate risks associated with security breaches.

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Research Analysis

The Application Security market is a critical segment in the technological landscape, addressing the escalating concerns of SMEs and large enterprises regarding customer data security and sensitive business information. With the increasing use of software development, AI, and ML in business applications, cybersecurity threats from hackers and application vulnerabilities have become more sophisticated. Bionic Signals and big data analytics employ AI-driven methods to identify and mitigate security risks in digital infrastructure, business-critical programs, and third-party dependencies. Security concerns extend to data sharing through mobile devices, IoT, online apps, and internet access. Patching apps and addressing vulnerabilities are essential to maintaining robust application security.

Market Research Overview

The Application Security market encompasses solutions designed to protect software applications from external and internal threats. These solutions include, but are not limited to, secure coding practices, authentication and access control, encryption, firewalls, intrusion detection and prevention systems, and security testing. The market is driven by the increasing use of cloud-based applications, the growing number of cyber attacks, and the need for regulatory compliance. Additionally, the adoption of DevOps practices and the integration of security into the development lifecycle are key trends in the market. The market is expected to grow significantly in the coming years due to these factors and the continuous evolution of cyber threats.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Deployment
• On-premises
• Cloud
• End-user
• Web Application Security
• Mobile Application Security
• Geography
• North America
• Europe
• APAC
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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SOURCE Technavio