New York, USA, April 29, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Dynamic Application Security Testing Market Research Report Information By Component, By Deployment, By Application, By Organization Size, By Vertical – Forecast Till 2030”, the global market is poised to touch a valuation of USD 9.2 Billion by 2030, with a 24.21%CAGR throughout the assessment period (2022–2030).
Dynamic Application Security Testing Market Overview
One of the main drivers propelling the market's expansion is the demand for quicker deployment of web-based and mobile applications, as well as the robust maintenance of these applications and steadily rising cyberattacks.
Key players active in the Dynamic Application Security Testing Market are.
- IBM Corporation
- Micro Focus International PLC
- WhiteHat Security, Inc.
- Synopsys, Inc.
- Accenture PLC
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Dynamic Application Security Testing Market Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | 2030: USD 9.2 Billion |
| CAGR during 2022-2030 | 24.21% |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Drivers | The market for dynamic application security testing is moderately fragmented due to the presence of global businesses in the sector. |
Aside from that, organizations are now far more vulnerable to attackers due to the widespread use of current web-services designs and API use. As an illustration, in 2019 personal information of more than 100 million users of the Indian search engine JustDial was made public when an unencrypted database was discovered online. The stolen information, which includes usernames, email addresses, mobile numbers, addresses, places of employment, and images, was gathered in real-time from any user who used the service via the company's website, mobile app, or even by phone. Moreover, the Google Play store app CamScanner has helped the Android trojan Virus swiftly gain popularity. One of the most widely used document-to-pdf apps in the app store, CamScanner, with more than 100 million downloads. The application's developers swapped their advertisements library to a backdoored one that was infected with Necro without their knowledge, instantly exposing the whole user base to a malicious backdoor. For mobile virus creators, adware remains one of the most lucrative revenue methods.
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The rising use of DevOps has also made it possible to integrate DAST solutions into the software development process, broadening their usefulness across sectors. This has simplified the integration process and provided additional advantages including cloud deployment, continuous and on-demand risk assessments, secure production, and AI-enabled verification. In turn, the organization saves a significant amount of money by cutting down on the number of false positives. Also, the focus on prevention as opposed to depending just on detection and correction is anticipated to increase demand for dynamic application security testing solutions.
Due to the coronavirus's continuous spread, many nations have taken preventative precautions. Most people work and study from their homes. The adoption of video communication platforms has increased as a result of this. Several video communication companies, notably Zoom, have seen a sharp rise in the number of new domain registrations during the last four months. In the first week of March 2020 alone, 25% of the more than 1700 new domains that have been registered since the start of 2020 have been noted, according to a report released by Checkpoint Security on March 30th. Cyberattacks have escalated as a result, which is anticipated to grow the DAST industry over time.
Industry Trends
Application security testing has become more important as a result of the quick uptake of cloud infrastructure, third-party applications, and the trend towards open banking. Due to security risks, major participants in the BFSI sector have changed the way that third parties can access data. For instance, JPMorgan Chase said in January 2020 that it will prohibit third-party apps from collecting user passwords.
One of the biggest fintech firms, Finastra, with headquarters in London, mentioned collaborating with Synopsis in February 2020 to implement cloud-based security solutions across all of its online banking applications. More than 9,000 banks and other financial institutions are currently customers of Finastra. Additionally, it takes little technical expertise to create and even less to use mobile banking malware.
When a user launches a banking app that has been compromised, the virus looks for it and develops a phony overlay page. The user will then submit their login information, which will be sent directly to the server of the attacker. Security testing solutions are being used more frequently as a result of the more sophisticated cyberattacks.
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Market Segmentation
The market for dynamic application security testing is divided into segments based on solution type (solutions), services type (services), application type (web application security, mobile application security), end-user vertical (IT and telecom, banking, financial services, and insurance, healthcare), and geography.
Regional Analysis
The United States, the world leader in technology, is projected to push the area to dominate the dynamic application security testing market. The need for security-as-a-service (SaaS) in the United States is being driven by its increased reliance on cloud-based services and investments made by local players in security solutions. However, due in large part to the region's fast expanding network of connected devices, cyberattacks in North America are on the rise and have hit an all-time high. For the convenience of banking, shopping, communication, and other activities, American customers use public clouds, and many of their mobile applications come preloaded with their personal data.
It is anticipated that the increased bandwidth provided by 5G would result in an explosion in the number of linked devices and apps. Applications for smart cities will gather data about how users spend their lives, whereas eHealth applications will gather information about users' health. Personal data will need to be safeguarded against breaches and theft as it continues to expand. As a result, security testing solutions are being incorporated into software development lifecycles at the early stages by vendors from a variety of sectors in the area.
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According to Deccan Herald, the IT technological behemoth Wipro made investments in Vectra Networks, a cybersecurity company based in the US, and Emailage Corporation, a fraud prevention company, to create a platform for cyber protection. Denim Group, a provider of application security, received an 8.83 million USD investment from Wipro.
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