Application Security Market Size, Share, Growth Report 2032

Application Security Market Insights

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.

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Application Security Market Size And Industry Analysis

The global   market accounted for USD 6,194.9 Million in 2020 and is estimated to reach USD 19,559.7 Million by 2028, growing at a CAGR of 15.7% from 2021 to 2028.

 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.

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COVID-19 Impact Analysis

The Covid-19 pandemic had positively impacted the application security market. The stringent government regulations and social distancing practices have changed the working methods of the employees. Majority of companies are adopting work from home method of working leading to increased need for application securities to protect the organizational data. The Covid-19 pandemic had boosted the internet-based application usage across the world. The application vendors for online-gaming, entertainment, distance learning, e-commerce, healthcare and others have witnessed upsurge in revenue.

These application providers are focusing on development of new applications to explore the market potential.  This trend toward innovation is creating lucrative opportunities for the application security market. The companies are adopting to new normal due to Covid-19, the adoption of work from home mode of working, the companies are employing cloud-based application security. The cloud-based application securities are getting popular among all application manufacturers.

Growth Factors

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.

Application Security Market: Report Scope

Component Segment Analysis Preview

Services segment held a share of around 61.44% in 2020. 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.

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Deployment Mode Segment Analysis Preview

On-premises deployment segment will grow at a CAGR of over 16.2% from 2021 to 2028. 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 2020. 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.

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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.

Key Market Players & Competitive Landscape

Some of key players in application security market are IBM Corporation, Cisco Systems, Rapid7, Qualys, Synopsys, MicroFocus, Capgemini, Acunetix, Accenture and HCL Software.

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.

The global application security market is segmented as follows:

By Component  

• Solutions  
• Services
  • Managed Services
  • Professional Services

By Deployment Mode

• On-Premise
• Cloud

By Organization Size

• Large Enterprises
• SME

By Testing Type

• Dynamic Application Security Testing
• Static Application Security Testing
• Interactive Application Security Testing
• Runtime Application Self-Protection

By Application

• Web Application Security
• Mobile Application Security

By End-User Industry

• BFSI
• Healthcare
• IT & Telecom
• Retail & E-Commerce
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa