USD 5.28 Billion
Application Security Market Size, Share, Growth Analysis, By Type(Web Application Security, Mobile Application Security), By Component(Solutions (Security Testing Tools, Static Application Security Testing, Dynamic Application Security Testing, Interactive Application Security Testing), By Deployment mode(Cloud, On-premises), By Organization size(Large enterprises, SMEs), By Vertical(Banking, Financial Services, & Insurance (BFSI), Government And Public Sector), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45E2138 |
Region:
Global |
Published Date: August, 2024
Pages:
197
|Tables:
146
|Figures:
78
Application Security Market Insights
Application Security Market size was valued at USD 9.76 Billion in 2023 and is poised to grow from USD 11.35 Billion in 2024 to USD 37.98 Billion by 2032, growing at a CAGR of 16.3% during the forecast period (2025-2032).
Growing cybersecurity threats are one of the major factors driving the market. In addition, with the increasing reliance on the Internet and digital technologies, applications are now an important target for cyberattacks. Significant investments are being made in robust application security solutions to protect sensitive data and customer trust as cybercriminals become more sophisticated in their tactics. With more sophistication, hackers can now easily exploit the vulnerabilities of applications to steal confidential information. As a result, the market for application security is growing.
The next-gen application security platform recognizes and identifies all services, dependencies, application programming interfaces (APIs), and data flows. Companies therefore implement application security measures. For example, in June 2023, Bionic launched two new features on its application security platform, Business Risk Scoring and Bionic Signals, to help engineers ever better manually identify security threats.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
On-premises
Fastest Growth
Cloud
Growth Rate
16.3% CAGR
Global Application Security Market ($ Bn)
Country Share for North America Region (%)
To get more reports on the above market click here to Buy The Report
Application Security Market Segmental Analysis
Global Application Security Market is segmented by type, component, Deployment mode, organization size, vertical and region. Based on type, the market is segmented into Web application security and mobile application security. Based on component, the market is segmented into Solutions (Security Testing Tools, Static Application Security Testing, Dynamic Application Security Testing, Interactive Application Security Testing, Runtime Application Self-protection, Container Security, API Security, Other Solutions), Services (Professional Services {Training & Education, Consulting Services, Integration & Maintenance} Managed Services). Based on deployment mode, the market is segmented into cloud and on-premises. Based on organization size, the market is segmented into large enterprises, and SMEs. Based on vertical, the market is segmented into banking, financial services, & insurance (BFSI), government and public sector, healthcare, telecommunications, retail and E-commerce, IT & ITES, education, other verticals. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Application Security Market Analysis by End-User
The BFSI segment will have accounted for the highest revenue share by 2023. In today’s digitally connected world, BFSI is one of the most prevalent industry vulnerabilities to vertical application attacks. Banks and other financial institutions process and hold sensitive customer financial information, including account numbers, transaction information, credit and debit card information, payment information, and cash information. Regulations such as The PCI Security Standards Council (PCI SSC), Sarbanes-Oxley (SOX), and the Federal Information. Security Management Act (FISMA) are complied with application security solutions.
The healthcare segment is estimated to have the highest growth during the forecast period. Cybersecurity risks associated with web-based email services, cloud storage services, computer-aided design (CAD) systems for dentists, hospital inventory systems, and other related services are also healthcare specific. Using systems, data, or commands, an attacker can exploit vulnerabilities in web applications, web servers, or related infrastructure. To develop secure healthcare web applications, administrators must implement web application firewalls (WAFs), robust authentication schemes, encryption and vulnerability scanning.
Application Security Market Analysis by Component
The solutions segment led the market and accounted for more than 67.0% of revenue by 2023. Application security solutions identify and manage open-source third-party component risks in the development and execution of application security platforms. Stable, and dynamic analytics uses developer attribute reports to track progress over time as users explore more security checks. Thus, all these factors combine to grow the segment.
The service segment is expected to witness the highest CAGR from 2024 to 2031. This application security application segment ensures that the application security software performs well in the application. Furthermore, the lack of skills and experience of in-house security professionals regarding software security testing has led organizations to seek outsourcing of their security infrastructure, which has contributed to the growth of the industry.
Global Application Security Market By Deployment Mode
To get detailed analysis on other segments, Request For Free Sample Report
Application Security Market Regional Insights
North America dominated the market by 2023. The major drivers for the growth of this segment are the advancement in cloud-based networking and mobile device applications, International Business Machines Corporation, Cisco Systems, Inc.; and Synopsys, Inc. Moreover, more security breaches targeting business applications, North America is expected to grow the fastest during the launch period in addition to increasing the number of SMEs in this region.
The Asia-Pacific region in the market is expected to grow significantly. Adoption of SaaS-based security solutions in Asia Pacific and BYOD trend in industry will increase application security. Furthermore, the adoption of global application security market is also driven by the increasing use of Al and ML in security to quickly identify threats and vulnerabilities.
Global Mobile Application Security Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Application Security Market Dynamics
Application Security Market Drivers
Increasing Regulatory Compliance Requirements for Solution Driving Market Growth
- Organizations develop and use the most important apps to fulfill needs and protect against malicious attacks. Compliance rules protect websites and applications by setting standards that developers must follow. These regulations ensure that the technology and its results meet established standards of privacy, data protection and absolute security. In addition, organizations establish a set of standards for solutions, with the Open Web Application Security Project, the ASVS standard being the most active due to its primary focus on applications.
Increased Frequency of Cyberattacks
- The increase in cyberattacks targeting applications is often a major driver of the application security market. As businesses increasingly rely on web and mobile applications to provide services and interact with customers, these applications are becoming a prime target for cybercriminals. High-profile data breaches and security incidents have made people aware of the need for strong application security measures to protect sensitive data and preserve customer confidence. This growing threat landscape is pushing organization types to invest heavily in advanced application security solutions.
Application Security Market Restraints
Lack of Technical and Skilled Labor to Restrain Growth of Market
- Organizations find it difficult to find qualified individuals with the necessary skills to develop and implement security systems. The shortage of skilled workers has created a competitive market, where firms compete for a limited number of individuals with the necessary skills to implement solutions. This shortcoming can hold back organizations from controlling security technologies and managing evolving threats efficiently and completely.
Increased Operating and Maintenance Costs
- One of the most important constraints in the application security market is the high cost associated with implementing and maintaining comprehensive security solutions. Application security tools and practices require significant financial and human resources to develop, integrate, and manage.
Request Free Customization of this report to help us to meet your business objectives.
Application Security Market Competitive Landscape
The global application security market is very competitive because of the need-oriented rationale that is driven by rising cyber threats and stringent regulatory compliances. Companies in the market are taking major steps toward innovation, integration of advanced technologies like AI and machine learning, and strategies to increase their product portfolios to offer end-to-end security solutions to their customers. Trends are therefore influenced by increasing adoption of DevSecOps practices and shifting to cloud-based security solutions that are, to a great extent, scalable and flexible. Some key strategies that firms are using to maintain competency in this rapidly growing market include mergers and acquisitions, strategic partnerships, and continuous enhancement of security testing and threat detection capabilities. For instance, in December 2023, Cisco will acquire Isovalent, Inc., a well-known leader in cloud-native solutions using eBPF Technology, to develop unrivaled multicloud security and networking capabilities. This purchase aims at offering customers networking that will be seamless and secure. This is a very competitive landscape where companies are engaged in fierce competition to offer their enhanced and integrated application security solutions to their customers.
Application Security Market Top Player’s Company Profiles
- IBM (US)
- Synopsys (US)
- Check Point Software Technologies (Israel)
- Rapid7 (US)
- Qualys (US)
- Fortinet (US)
- F5 Networks (US)
- Akamai Technologies (US)
- Palo Alto Networks (US)
- HCL Technologies (India)
- AppGuard (US)
- Tenable, Inc. (US)
- CrowdStrike Holdings, Inc. (US)
- Snyk Ltd. (UK)
- CyberArk Software Ltd. (Israel)
- Trend Micro Incorporated (Japan)
- Onapsis Inc. (US)
- Illumio, Inc. (US)
- Data Theorem, Inc. (US)
- Contrast Security (US)
- Armor Defense Inc. (US)
Application Security Market Recent Developments
- In June 2024, IBM, a leading IT and consulting service provider, unveiled Concert, a Gen-AI driven solution to streamline application operations. As of now, IBM Concerts’s initial focus will be on three very important use cases: Application Security, Risk Mangement, Application Compliance Management and Application Certificate Mangement. Concert will help users to gain deep insights into their applications’ operations by offering streamline processes and lowering complexity while driving innovation.
- In June 2024, Datadog, Inc., the monitoring and security platform for cloud applications, announced new additions to its security product portfolio. The product portfolio includes agentless scanning, data security and code security which allows DevOps and security teams to easily secure their code, cloud environments and production applications.
- In January 2024, IBM, an IT services and consulting giant, announced the acquisition of application modernization capabilities from Advanced. This move, set to be finalized in Q2 2024, aims to bolster IBM's hybrid cloud and AI offerings. The acquisition will enhance IBM Consulting's services, particularly in mainframe application and data modernization, thereby supporting clients' digital transformation journeys.
Application Security Key Market Trends
- Rising Adoption of AI and Machine Learning in Threat Detection Solutions: Organizations are turning their attention to AI-based solutions to identify and prevent threats by integrating application security solutions. It has become a key technology in combating these threats, providing the ability to identify and treat things on security events in real time. AI-based threat detection helps organizations classify and respond to threats in real-time, reducing the risk of data breaches and other security issues. Furthermore, AI-based threat detection can identify anomalies and procedures indicating a security risk Can be developed. Additionally, organizations are responding faster and more effectively by integrating AI into application security solutions to reduce the damage caused by these incidents. AI-powered security solutions detect and analyze potential threats in real-time, enabling organizations to respond quickly and promptly.
Application Security Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the global application security market is witnessing a strong growth, driven by the rising cyber threats in view of progressing digitization across various industries. In view of rapidly evolving threats to applications, organizations are coming to realize the critical needs for securing these applications and are hence driving up the demand for highly advanced application security solutions. Some of these factors include vast growth in web and mobile applications, stringent regulatory requirements, and growing complexity of cyber-attacks. Moreover, the adoption of cloud-based technologies and the DevSecOps practices that are coming up are pushing the market toward a bigger growth. Major players across the market are making huge investments in research and development to come up with solutions that are innovative in nature and solve the diversified security needs of the businesses. With the integration of AI and ML technologies, security measures are becoming more proactive and adaptive.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.39 Billion |
| Market size value in 2031 | USD 32.66 Billion |
| Growth Rate | 16.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Application Security Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Application Security Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Application Security Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Application Security Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Application Security Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Application Security Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
