As stated in our extensive report, providing insights on component, deployment mode, organization size, type, testing type, and industry vertical, the Global Application Security Market accounted for 6.95 USD Billion in 2021.
The Global Application Security Market is majorly driven by increasing security breaches targeting business applications, and stringent compliance and regulatory requirements for application security. Additionally, demand for Software as a Service (SaaS)-based application security solutions are also mounting at an unprecedented level. Thus, offering the special opportunity for Application Security Market and driving the market growth over the forecast period.
Security breaches are one of the major threats to consumers and enterprises. Today’s hyper-connected business environment boosts the rapid development of digital solutions, devices, and associated services. The outbreak of COVID-19 has affected almost all sectors. However, it has positively impacted on Application Security Market.
Across the globe, there are around 20 million software developers. Among with, less than 40% developers are mobile application developers, less than 60% developers are web application developers. Nowadays, the trend of using mobile phones and smartphones for numerous purposes, such as office work, online shopping, and social media access is changing swiftly. Thus, as a consequence, mobile application development has increased.
Accordingly, the need for the safe and protected developing phase of mobile applications with an intention to reduce the cases of data loss and data breaches has also increased. Furthermore, increasing government initiatives to increase awareness regarding the use of technology and changing trends in digitalization is further increasing the use of applications. Thus, increasing the demand for application security further propelling the market growth over the forecast period.
Asia Pacificholds the major share in the market owing to the rise in cloud-based networking. Additionally, the presence of major players I such as the presence of major key players such as IBM, Cisco, Synopsis, Onapsis, and Qualys in the region is fueling the market growth. Asia Pacificis anticipated to be at the fastest Compound Annual Growth Rate (CAGR) over the forecast period. The market growth in the region is attributed to the increased frequency of security breaches targeting business applications.
Some of key players inApplication Security Marketinclude,HCL Software (India), IBM Corporation (US), Synopsys (US), Cisco Systems (US), Veracode (US), Checkmarx (Israel), WhiteHat Security (US), MicroFocus (UK), Rapid7 (US), Capgemini (France), GitLab (US), Onapsis (US), Contrast Security (US), CAST Software (France), VMware (US), Qualys (US), Trustwave (US), OneSpan (US), Imperva (US), Acunetix (Malta), F5, Inc. (US), Pradeo (France), NowSecure (US), Data Theorem (US), Lookout (US), Kryptowire (US), and Zimperium (US)..