Dublin, June 04, 2024 (GLOBE NEWSWIRE) -- The "Global Application Security Market Report by Component, Type, Testing Type, Deployment Mode, Organization Size, Industry Vertical, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The latest research on the application security landscape presents an impressive prognosis, with market size predicted to grow significantly from US$ 9.1 Billion in 2023 to US$ 32.9 Billion by 2032
This robust expansion, at a compound annual growth rate (CAGR) of 15.35%, underscores the vital role application security measures play in today's digital age. With an increasing volume of online fraudulent activities, the tech marketplace is seeing a surge in the implementation of sophisticated security measures. The urge to bolster defense mechanisms against cyber threats is largely propelled by the need to protect client data, streamline operations, and prolong the application lifecycle.
Rapid technological advancements are pushing companies to adopt secure, flexible, and cost-effective solutions to fend off cyber threats. Ensuring the safety of digital assets has become paramount in industries such as IT, telecom, banking, and public sector operations. Governments worldwide are actively enhancing their cybersecurity postures with initiatives designed to secure user identification and reduce vulnerabilities.
The emergence of Remote Work and BYOD (Bring Your Own Device) models, hastened by the COVID-19 pandemic, has further complicated the corporate security environment, thus fueling the demand for advanced application security solutions. Additionally, the requirement to safeguard each software development lifecycle phase is increasingly becoming a staple in cybersecurity strategies.
Segment Analysis Highlights Versatile Market Need
The market report indicates a diverse requirement for application security across different segments. From web to mobile application security, businesses are exploring varied testing types like Static Application Security Testing (SAST), Dynamic Application Security Testing (DAST), and Runtime Application Self-Protection (RASP) to address potential threats. The deployment modes too vary widely, with both on-premises and cloud-based solutions gaining traction. It is particularly noteworthy that the scope of application security isn't limited to larger corporations.
Small and medium-sized enterprises are also prioritizing security, indicating the all-encompassing nature of cyber threats beyond the realms of organizational size. The application security market coverage spans across multiple industry verticals like healthcare, manufacturing, retail, and more, demonstrating its universal importance. Moreover, the market is witnessing global participation, with countries from North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa contributing to the demand.
Competitive Landscape and Market Prospects
A deep dive into the competitive landscape reveals that prominent players are continuously innovating to offer cutting-edge application security solutions that meet growing market demands. With the ongoing digital transformation and the consequent escalation in security risks, the application security market's trajectory appears set for sustained growth.
As organizations worldwide grapple with the complexities of cyber threats, the insights delivered by such comprehensive research become crucial in shaping informed, strategic responses to maintain robust application security defenses in an ever-evolving technology landscape. The continual advocacy for sophisticated and adaptable security solutions may drive further innovation and cooperation among global market players, ensuring a future where data integrity and security are prioritized and protected.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 137 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $9.1 Billion |
| Forecasted Market Value (USD) by 2032 | $32.9 Billion |
| Compound Annual Growth Rate | 15.3% |
| Regions Covered | Global |
Companies Featured
- Capgemini SE
- Checkmarx Ltd.
- Cisco Systems Inc.
- Contrast Security Inc.
- International Business Machines Corporation
- Micro Focus International plc
- Ntt Security Appsec Solutions Inc. (NTT Ltd.)
- Oracle Corporation
- Qualys Inc.
- Rapid7
- Synopsys Inc.
- Veracode.
For more information about this report visit https://www.researchandmarkets.com/r/tcmggx
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