Rise in security breaches that target business applications & regulatory requirements for application security are drivers of application security market growth
PORTLAND, PORTLAND, OR, UNITED STATES, March 22, 2023 /EINPresswire.com/ — The application security market size was estimated at $5,973.00 million in 2020, is expected to grow at a CAGR of 18.7% to $33,941.00 million by 2030.
The rise in security breaches affecting business applications and stringent compliance and regulatory requirements for application security are the key drivers of the worldwide application security market growth. In addition, the increased usage of smartphones and the growth in demand for application security in retail and e-commerce organizations boost the demand for application security. The demand for application security solutions has also increased due to a shift towards cloud-based apps.
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What are the Factors driving Application Security Market?
• Increase in cyber threats: With the increasing number of cyber threats and data breaches, there is a growing need for stronger application security. Application security solutions can help to protect applications from attacks and vulnerabilities.
• Growing adoption of cloud computing: The growing adoption of cloud computing is driving the growth of the application security market. Cloud-based applications are particularly vulnerable to attacks, and application security solutions are necessary to protect them.
• Rise of mobile and web applications: The rise of mobile and web applications has led to an increase in the number of potential attack surfaces. Application security solutions can help to protect these applications from attacks and vulnerabilities.
• Need for compliance: Many industries are subject to regulatory compliance requirements, which include security measures for applications. Application security solutions can help businesses to meet these compliance requirements.
• Increasing complexity of applications: Applications are becoming increasingly complex, with more functionality and integration with other systems. This complexity creates more potential vulnerabilities, making application security solutions more important than ever.
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What are the Key Trends in Application Security Market?
• Increased adoption of DevSecOps: DevSecOps is an approach to software development that integrates security into the entire software development lifecycle. The application security market is seeing an increased adoption of this approach, as businesses seek to build more secure applications.
• Growing use of machine learning and AI: Machine learning and AI are being increasingly used in application security to identify and respond to threats. These technologies can analyze large amounts of data to detect patterns and anomalies that may indicate a security threat.
• Focus on API security: Application programming interfaces (APIs) are becoming increasingly important for businesses, but they can also be a security vulnerability. The application security market is seeing a growing focus on API security, with solutions being developed specifically to protect APIs from attacks.
• Emergence of zero-trust security: Zero-trust security is an approach to security that assumes that all networks, devices, and users are untrusted until proven otherwise. This approach is becoming increasingly popular in the application security market, as it provides a more comprehensive and proactive approach to security.
• Shift to containerization: Containerization is an approach to application deployment that uses lightweight containers to package and deploy applications. The application security market is seeing a shift towards containerization, as it provides a more secure way to deploy applications and reduces the attack surface.
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Some of the key application security industry players profiled in the report include IBM Corporation, Capegemini, MicroFocus, Cisco Systems Inc., Synopsys, Veracode, Whitehat Security, RAPID7, Qualys, and HCL Technologies. This study includes application security market trends, application security market analysis, and future estimations to determine the imminent investment pockets.
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