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The application security market size is forecast to increase by USD 20.02 billion at a CAGR of 23.11% between 2023 and 2028. The market is witnessing significant growth due to the increasing threats to corporate infrastructure from malware, data theft, and vulnerabilities in web and mobile applications. The prevalence of shadow IT and the use of open-source application security solutions add to the complexity of securing applications, both on-cloud and on-premises. The growing number of data leaks due to these vulnerabilities is a major concern for organizations, leading to the adoption of technologically advanced solutions to enhance security and mitigate risks. Deployment models, such as DevSecOps and SecDevOps, are gaining popularity as they integrate security into the application development lifecycle, ensuring that applications are secure from inception.
The market is expected to continue its growth trajectory, driven by the need for application security solutions to protect against evolving threats.
The market is witnessing significant growth due to the increasing number of security breaches and cybersecurity threats. With the rise of software development in business applications, customer data security has become a top priority for organizations. SMEs and large enterprises alike are focusing on securing sensitive data from hackers and cybercriminals. Artificial intelligence (AI) and machine learning (ML) are being adopted to identify application vulnerabilities and bionic signals, providing real-time threat detection. Big data analytics and AI-driven methods are used to analyze third-party dependencies and digital infrastructure, ensuring business-critical programs remain secure. Cybersecurity threats continue to evolve, targeting online apps, mobile devices, IoT, and other digital platforms.
Patching apps and addressing vulnerabilities is essential to prevent data sharing breaches. Businesses must prioritize cybersecurity to protect their digital assets from cyber threats.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The on-premises segment is estimated to witness significant growth during the forecast period. On-premises application security refers to the implementation of security solutions within an organization's own physical infrastructure or data centers, as opposed to relying on cloud-based services. This deployment model offers several benefits, particularly for industries and businesses with stringent security requirements. Hackers continue to exploit application vulnerabilities, making it crucial for organizations to employ on-premises application security solutions. Bionic Signals, Big data analytics, and AI-driven methods are increasingly being used to identify and mitigate third-party dependencies and potential threats. Dentists' Computer-Aided Design (CAD) systems, web applications, and mobile applications are all potential targets for cyberattacks. On-premises application security solutions provide essential features and functionalities, such as Web Application Firewalls (WAFs), which act as a protective shield between web applications and external threats, including malicious attacks and unauthorized access attempts.
These solutions enable organizations to maintain direct control over their security systems and data, ensuring comprehensive protection for their applications throughout their lifecycle.
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The on-premises segment accounted for USD 3.42 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is witnessing substantial growth due to the increasing number of application vulnerabilities and the activities of hackers. According to recent reports, North America holds the largest share of this market in 2023, driven by the widespread use of mobile devices, the rise in cloud-based networking, and the presence of major players such as IBM, Cisco, Contrast Security, and Synopsis. In North America, countries like the US lead the way in technological advancements and the adoption of advanced security solutions. Big data analytics and AI-driven methods are being employed to identify and mitigate third-party dependencies and vulnerabilities in Dentists' CAD systems, Web application security, and Mobile application security.
Bionic Signals and other advanced technologies are being integrated into application security solutions to provide real-time threat detection and response. The market is expected to continue growing at a significant rate during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing number of data leaks is the key driver of the market. The market is experiencing significant growth due to the increasing number of security breaches and cyber threats against business applications. According to recent reports, cyber thefts by hackers and cybercriminals have reached an all-time high, with over 1,862 data breaches reported in 2021, surpassing the previous records set in 2020 and 2017. These breaches have resulted in the theft of sensitive customer data, posing a significant risk to businesses and individuals alike. Artificial intelligence (AI) and machine learning (ML) are being increasingly used to enhance application security. These technologies can help detect and prevent cyberattacks in real-time, reducing the risk of data breaches.
Further, small and medium-sized enterprises (SMEs) are particularly vulnerable to cyber threats, as they often lack the resources to implement cybersecurity measures. Business applications are a prime target for cybercriminals, as they contain valuable customer data. Cybersecurity threats are constantly evolving, making it essential for businesses to stay up-to-date with the latest security trends and technologies. The use of AI and ML in application security is expected to become increasingly prevalent in the coming years, as businesses seek to protect their sensitive data from cyber threats.
The prevalence of shadow IT is the upcoming trend in the market. Shadow IT, which refers to digital solutions used by enterprises without explicit approval from management, is becoming increasingly prevalent due to the proliferation of IoT devices and the widespread adoption of cloud-based services. These tools, such as Slack, Google Docs, and Evernote, are often employed for communication and collaboration purposes to streamline workloads. However, the use of shadow IT can pose significant security risks, particularly in relation to customer data and sensitive business information. Security breaches are a growing concern for enterprises, with cybersecurity threats constantly evolving. Artificial intelligence (AI) and machine learning (ML) are being employed to enhance security measures, but SMEs may not have the resources to implement these advanced technologies.
Therefore, the security of customer data and sensitive business applications remains a critical issue. The growing use of IoT devices and cloud-based services has made it easier for employees to bypass traditional IT procurement procedures and use technology services instantly. However, this can lead to vulnerabilities in the network, as these tools may not have adequate security measures in place. Therefore, it is essential for enterprises to establish clear policies and guidelines for the use of shadow IT, while also investing in advanced cybersecurity solutions to mitigate risks.
Threat from open-source application security solutions is a key challenge affecting the market growth. Open-source application security solutions pose a significant challenge to the market due to their widespread usage and availability at a lower cost. These solutions, which can be downloaded and utilized on various platforms, have gained popularity among Small and Medium Enterprises (SMEs) in developing economies like India and China. With limited resources and expertise, these organizations often cannot afford to invest in expensive on-premises or cloud-based application security solutions. Instead, they opt for open-source alternatives, which require less capital investment. However, the increasing adoption of open-source application security solutions may negatively impact the revenue growth of The market during the forecast period.
As cybersecurity threats continue to evolve, the importance of securing business applications and protecting customer data becomes increasingly crucial. Artificial intelligence (AI) and machine learning (ML) technologies are being integrated into application security solutions to enhance their capabilities and provide more effective threat detection and response. Despite these advancements, the market faces significant challenges, including the growing prevalence of open-source solutions and the increasing sophistication of cybersecurity threats.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Broadcom Inc. - The company offers application security such as Gen 8.6.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Application security is a critical aspect of digital infrastructure protection for businesses of all sizes, from SMEs to large enterprises. With the increasing reliance on software development for business applications, cybersecurity threats have become more sophisticated, with hackers targeting sensitive data through application vulnerabilities. Security concerns are not limited to web applications but extend to mobile applications, IoT, online apps, and even government apps. Cybercriminals use various methods, including malware, data theft, and fraudsters, to exploit application vulnerabilities. AI-driven methods, such as machine learning and artificial intelligence, are being used to identify and mitigate cybersecurity threats in real-time. Big data analytics and bionic signals are also being employed to detect and respond to security breaches.
Third-party dependencies, such as dentists' CAD systems, pose significant risks to application security. Therefore, it is essential to prioritize vulnerability management and implement technologically advanced solutions for web application security and mobile application security. Transparent data encryption, anonymization technology, and workload protection are some of the effective measures for securing business-critical programs. Deploying applications on-cloud or on-premises requires different security approaches. Digital marketing, social media influencing, content marketing, and cloud software programs also need to be secured against cyber threats. Internet access, online commerce, and user interface are other areas that require attention in application security. Vulnerability management prioritization and fourth-party risk posture are essential components of a comprehensive application security strategy.
Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 23.11% |
Market Growth 2024-2028 |
USD 20.02 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
19.52 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 39% |
Key countries |
US, China, UK, Canada, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Broadcom Inc., Capgemini Service SAS, Checkmarx Ltd., Contrast Security Inc., Dynatrace Inc., F5 Inc., Fasoo, Fortinet Inc., Hewlett Packard Enterprise Co., ImmuniWeb SA, International Business Machines Corp., Invicti Security Ltd., Nippon Telegraph And Telephone Corp., PRADEO Security Systems SAS, Qualys Inc., Rapid7 Inc., Singapore Telecommunications Ltd., Sitelock LLC, Synopsys Inc., and Trend Micro Inc. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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