The GMI Research asserts that the Application Security Market will bolster over the forecast period. This is because of the accelerating penetration of smartphones and cloud-based technologies with the increasing usage of these solutions to secure mobile applications.
Introduction of the Application Security Market
Application security includes the proficiency to enhance the safety of applications by recognising, rectifying, and averting the susceptibility concerned with the security. Also, several actions used against the vulnerability of lifecycle of application, includes establishment, design, disposition, modernisation, and maintenance.
Key Players of Market:
- Rapid7
- HCL Technologies
- IBM Corporation
- Cisco Systems
- Checkmarx Ltd
- Synopsys, Inc.
- Micro Focus
- Whitehat Security, Inc.
- VERACODE
- Capgemini SE
Application Security Market Dynamics
The aggravating implementation of cloud-based technologies and increasing incidences of security violations concerning business applications are stimulating the growth of the global application security market. Security infringement remains a continual menace to large enterprises and consumers. Also, digital infrastructure is based on the communication between data and the business-critical applications, shared across devices, users, and platforms. Business applications accommodate all-important organizational data and remain to be the victim of cybercriminals.
Thus, the mounting numbers of security violations targeting applications and organizations are excessively using solutions for application security to protect the web and mobile applications. Further, various leading companies, including Equifax, LinkedIn, Adobe, eBay, My Space, Yahoo, have noticed serious security breaches. The increasing strictness in the flexibility and managerial requirements for better safety stimulates market growth. Moreover, the surging demand for SaaS-based solutions and the growing seepage of smartphones for application security has paved the way for market growth. However, budget restrictions imposed on the businesses are expected to hinder Application Security Market Size.
Component Segment Drivers
Based on components, the software is predicted to sustain its dominance over the market soon. The increasing implementation of sophisticated software solutions and instruments to safeguard business applications and streamline the services has stimulated the Global Application Security Market Size. For instance, Micro Focus, in September 2020, introduced the Hybrid Cloud Management X, designed mainly to expedite the offering of multi-cloud services. The platform is a multiuser management cloud-native program capable of functioning in the public cloud environment. The software tools comprise stationary, dynamic, interactive application security testing, and computing application self-prevention. Amongst which, the stationary application or white box testing is an extensively used software tool.
End-Use Industry Segment Drivers
BFSI, based on end-user, will seize the largest share in the market during the forecast period. Various banks and financial institutions control and store a substantial volume of analytical customer data, including details about payment information, account numbers, card details, money, and trading transactions. As per the Global Application Security Market Report, these solutions scrutinize the applications to discern the security gaps and prevent them against susceptibility and threats.
Application Security Market Segmentation:
Segmentation by Type
- Web Application Security
- Mobile Application Security
Segmentation by Component
- Software
- Services
Segmentation by End User
- BFSI
- Retail & E-commerce
- Government
- Healthcare
- Telecommunication
- Education
- IT & Telecom
- Others
Segmentation by Region:
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- RoW
- UAE
- Brazil
- South Africa
- Saudi Arabia
About GMI Research
GMI, a market research and consulting enterprise that provides business perception and reports to different organisations, which include several small, medium and large enterprises. The large team of researchers assist clients to acknowledge the effect of different market aspects like key drivers, competitors, share, growth opportunities, challenges, and other dynamics. Our seasoned experts conduct studies on market intelligence to certify that material and factual research reaches various sectors such as Energy, FMCG, Technology, and Healthcare.
We cumulate the required information about the industries with the help of internal and external databases. The central emphasis of our organisation is to abridge our clients with the approaching challenges across different industries. We provide a complete guidance to our client via our planned and consulting services to support them in reaching an actionable decision.
