Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 37.14 Billion | USD 124.18 Billion | 12.8% | 2023 |
According to Zion Market Research, the global Application Security Market was worth USD 37.14 Billion in 2023. The market is forecast to reach USD 124.18 Billion by 2032, growing at a compound annual growth rate (CAGR) of 12.8% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Application Security Market industry over the next decade.
Application security are the security measures for the protection of the critical data from being stolen or hacked by external threats. They provide various security measures at different level of application development like design, development, maintenance and upgradation to ensure safety from cyber threats. Application security is a necessity for the organization and businesses involved in application development activities. The growing application vulnerabilities to cyber-attacks and data breach and technological advancements are contributing to the extensive need of application security.
The emerging trend of growing digitalization across various industries and increased use of e-commerce applications in the retail industry with huge customer data involving card details is leading to increase in application vulnerabilities. Owing to this, use of application security is the emerging trend in the application security market.
The growing demand for application security at every stage of software development owing to rising need for security of business data is the major factor contributing the market growth. The strict government laws for the protection of organizational data in accordance with cyber security are creating higher demand for the application security among end-user industries like IT, banking and finance and healthcare industries.
The growing digitalization across many business organizations is leading to transfer of crucial data through mails and faxes. The increased digital communication among business is more prone to cyber threats and data breaches. The growing demand for applications by companies and organizations is driving the market demand. In addition to this, growing demand from banking, financial services, healthcare, IT and Telecom, education, government and defense, retail and others are anticipated to bolster the global market demand for the application security in the forecast period.
Report Attributes | Report Details |
---|---|
Report Name | Application Security Market |
Market Size in 2023 | USD 37.14 Billion |
Market Forecast in 2032 | USD 124.18 Billion |
Growth Rate | CAGR of 12.8% |
Number of Pages | 182 |
Key Companies Covered | IBM Corporation, Cisco Systems, Rapid7, Qualys, Synopsys, MicroFocus, Capgemini, Acunetix, Accenture and HCL Software |
Segments Covered | By Component, By Deployment Mode, By Organization Size, By Testing Type, By Application, By End-User Industry and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Component Segment Analysis Preview
Services segment held a share of around 61.44% in 2023. This is attributable to emerging need for the skilled IT professionals to assist use of in-house security measures. The application security services are the assistance by security vendors to establish security solutions. The lack of skilled professional to assist software security is fueling the demand of services segment. The application security services provide upper-edge security to the confidential data and software systems of the business organization.
The application security services aids organizations for planning, integrating, monitoring and implementing application security and ensures secure environment for functioning. These services aids companies to establish best practices in the industry. The growing technological advancements leading to complex security solutions are creating demand for technological assistance by security professionals, leading to rise in demand for application security services. The rising complexity of application securities estimated to drive the demand for application security services in the forecast period.
Deployment Mode Segment Analysis Preview
On-premises deployment segment will grow at a CAGR of over 16.2% from 2024 to 2032. This is attributable to better security provided by on-premises software infrastructure as compared to cloud-based deployment. The on-premises deployment is the traditional approach for the security of organization data and prevent cyber-attack. The data security is the user’s responsibility the on-premises deployment mode, there are no inventions made by the security vendors. The availability of customization in the on-premises security systems are driving the demand for on-premises deployment segment. The on-premises application securities enable better maintenance of the servers and facilitates easy implementation of application security solutions.
Regional Analysis Preview
The North America region held a share of 37.56% in 2023. This is attributable to the increasing internet penetration, mobile devices and cloud-based networks. The dominance of the North America region is due to presence of well-established market players like IBM Corporation, Qualys, Cisco Systems, Synopsys, Veracode and others in the region. The region is contributing to the largest market share owing to the presence of many financial institutes and availability of infrastructure is driving the demand for the application security market.
The upsurge in number of internet users and increased adoption of Internet of Things devices have created huge demand for application security. The strict government regulation for data safety is propelling the growth of application security market in the region. The growing technological advancements and complexity of cyber-attacks are creating lucrative opportunities for application safety market. The rise in digital transactions owing to the increased digitalization in banking industry is estimated to drive the market demand in the forecast period.
The Asia Pacific region is projected to grow at a CAGR of 17.7% over the forecast period. This surge is due to the rise in the security vulnerabilities, cyber-attacks and data breaches. The rise in number of cyber-attacks at the application level and rising concerns about the security measures in the region are contributing the increased demand for the application security. The APAC region shows huge presence of small and medium sized enterprises leading to the increase in need for the application security.
The surge in application of mobile applications and web applications are propelling the demand for the application security. The stiff government regulations and policies in accordance with the cyber security norms are fueling the market growth. The increasing investments in IT infrastructure development and increasing cloud-based activities in the industries in the APAC region. The rising internet penetration is estimated to be major factor for the growth of application security in the APAC region.
Some of key players in application security market are
The market is highly competitive due to presence of well-established market players. Hence to these players are focusing on strategies like expanding their product portfolio and adoption of latest technological advancements to get the competitive advancements. Some companies are implementing mergers and acquisitions, collaborations and partnerships.
Ex. 1) In September 2021, Micro Focus had new technological solutions Visual COBOL 7.0 and Enterprise Suite 7.0 for business system modernization. These systems will enable flexible application and modernization solution for mainframe and COBOL systems.
2) In September 2021, Qualys Inc. had announced acquisition of TotalCloud. This acquisition will aid Qualys to integrate visual cloud remediation workflow technology of TotalCloud into its portfolio. Using this technology Qualys can build user defined workflows.
By Component
By Deployment Mode
By Organization Size
By Testing Type
By Application
By End-User Industry
By Region
FrequentlyAsked Questions
The global application security market was valued at USD 37.14 Billion in 2023.
The global application security market is expected to reach USD 124.18 Billion by 2032, growing at a CAGR of 12.8% between 2024 to 2032.
Some of the key factors driving the global application security market growth are growing demand for application security at every stage of software development owing to rising need for security of business data is the major factor contributing the market growth.
North America region held a substantial share of the application security market in 2020. This is attributable to the presence of major players such as like IBM Corporation, Qualys, Cisco Systems, Synopsys, Veracode and others in the region. The upsurge in number of internet users and increased adoption of Internet of Things devices have created huge demand for application security.
Some of the major companies operating in the application security market are IBM Corporation, Cisco Systems, Rapid7, Qualys, Synopsys, MicroFocus, Capgemini, Acunetix, Accenture and HCL Software.
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