Application Security Market Trends 2020 – Industry Trends and Forecast to 2023
Overview
With rapid technological advancements in the internet space and a quick shift of operations to online application-based platforms, the need for application security is burgeoning with the same speed. External threats and vulnerabilities are incremental due to the evolutionary nature of cyber attacks. Prudence to counter these attacks and threats through thorough scrutinization of inbound traffic is felt necessary to compensate for existing code sanitization deficiencies.
With a rise in the number of smartphones adopted across the globe, proliferation is observed in the usage of applications, driving the need for application security. Additionally, with rapid penetration of the internet of things (IoT) technology, increasing number of devices are connected to cyberspace, posing a higher risk to data breaches and intrusions with better access capabilities at the attackers’ disposal. Such potential risk calls for advanced application security measures, promoting growth and development in the Application Security Market Trends. An escalating shift of operations to online platforms and a rise in the demand for application-based services provided by organizations is also propelling growth in the global Application Security Market Trends. Expansion of the global Application Security Market Trends is expected to be seen at a robust CAGR of 24.95% during the forecast period, as mentioned in the latest MRFR report.
Key Players
Some of the noteworthy players present in the global Application Security Market Trends including Synopsys (US), IBM Corporation (US), Trustwave Holding Inc. (US), Veracode Inc. (US), Hewlett Packard Enterprise Company (US), White Hat Security Inc. (US), Checkmarx Ltd. (US), Qualys Inc., (US), Rapid7 Inc (US), Acunetix Ltd (U.K.), High-Tech Bridge SA (Switzerland), and Contrast Security Inc., (US) are profiled by Market Research Future in the latest report.
Industry Update
March 2019: Cequence Security named as the winner of the 2019 MRC Technology Awards for its bot detection platform. Cequence Security is a leading provider of innovative application security solutions.
Segmentation
The global Application Security Market Trends is segmented by Market Research Future (MRFR) on the basis of solution, testing type, organization size, services, deployment, and end-user. Based on solution, the Application Security Market Trends is segmented into mobile application security and web application security. Based on testing type, the market is segmented into interactive application security testing (IAST), static application security testing (SAST), and dynamic application security testing (DAST). By organization size, the market is segmented into SMEs and large enterprises. Based on services, the Application Security Market Trends is segmented into managed services and professional services. By deployment, the Application Security Market Trends is segmented into on-premise and on-cloud. On the basis of end-user, the global Application Security Market Trends is segmented into BFSI, government & defense, IT & telecommunication, healthcare, education, and retail.
Detailed Regional Analysis
Market Research Future segments the global Application Security Market Trends on the basis of region into North America, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). The Asia Pacific is expected to pose as the largest market for application security with a revenue share of USD 617.34 million in 2017 which is anticipated to reach USD 2.4 billion, recording a CAGR of 27.03% through the forecast period.
North America is expected to lead the Application Security Market Trends, harnessing USD 3.47 billion by the end of 2023, registering a 23.86% CAGR. Rising demand for e-commerce and an increase in the adoption of smartphones is boosting the Application Security Market Trends in North America. Canada, the U.S., and Mexico are increasingly investing in the research and development of the Application Security Market Trends, also adopting these technologies. The U.S. is the largest country-specific market for application security solutions, followed by Canada, producing a joint revenue of USD 445.03 million in 2017. The U.S. is prognosticated to witness rapidly surging CAGR of 24.51% during the forecast period.
Europe is projected to witness significant growth in the Application Security Market Trends and is expected to touch the revenue bracket of USD 2.8 billion by the end of the forecast period. Germany was observed to generate a revenue of USD 236.54 million in 2017 and is estimated to grow lucratively during the assessment timeline as well. The U.K. is anticipated to garner a robust CAGR of 28.99% during the review period. Europe is comprehensively expected to register a rapid CAGR of 25.77% during the forecast period.
Get Report Details @ https://www.marketresearchfuture.com/reports/application-security-market-3624
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