Fort Collins, Colorado, Sept. 25, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Application Security Testing Market Size, Growth, Share, Statistics Report, By Application (Web Security & Mobile Security), By Service (Managed & Professional), By Security Testing, By Deployment, By Organization Size, By End-user, By Region, and Segment Forecasts, 2023-2032."
According to DataHorizzon Research, The application security testing market size was valued at USD 8.7 Billion in 2022 and is expected to reach USD 40.6 Billion by 2032 at a CAGR of 16.7%. The global application security testing market report comprehensively analyzes the latest trends and market conditions. The report holistically offers the latest insights from the industry and discusses market opportunities.
Security breaches are increasing worldwide and threaten various types of information, which may include unauthorized access to sensitive and confidential information. The application security software helps in protecting the data from such threats. Most organizations worldwide outsource security tasks, which has increased the scope for new entrants. Integrating AI & ML with application security is helping the growth of the application security market.
There are several methods through which application security testing can be carried out, such as static security, dynamic application, interactive application security testing, and mobile application security testing. Static application security testing checks and analyzes the application’s source and binary code for checking the security vulnerabilities at the testing phase. Dynamic security testing works while the applications are running. This is performed to check the application’s reaction/response to the threat.
Besides installing security software, cloud-based deployment offers potential security as most organizations prefer a centralized database for data storage. Application security is essential to protect such databases from hackers. Financial institutions are more prone to security threats. Many organizations hire third-party vendors to outsource their projects, and to prevent any data breach or crash in applications, data security applications are used in such arrangements. Therefore, the growing employment opportunities drive the need for the application security testing market.
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Report Snapshot:
| Report Title | Application Security Testing Market |
| Market Size in 2022 | USD 8.7 Billion |
| Market Size by 2032 | USD 40.6 Billion |
| CAGR from 2023 to 2032 | 16.7% |
| Largest Market | North America |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors |
| By Application | Web Security & Mobile Security |
| By Service | Managed & Professional |
| By Security Testing | Security Application Security Testing (SAST), DAST, IAST, RASP(Run Time Application Self Protection) |
| By Deployment | Cloud & On-Premise |
| By Organization Size | Small, Medium & Large Enterprises |
| By End-user | Healthcare, BFSI, Education, Retail |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among others |
| Major Market Players | Accenture, Cisco Systems, IBM Corporation, McAfee LLC, and Hewlett Packard Enterprise Company. |
Segmentation Overview
The global application security testing market has been segmented as application, service, security testing, organization size, end-user, and region. By application, web security accounted for a significant market share in 2022. Factors such as the rise in digital transactions and growing web applications is projected to create growth opportunities.
North America is the leading region for application security testing and is projected to grow more based on the technological dominance in the global market, huge spending to secure digital assets, and exhibit growth opportunities in the market. Asia Pacific is a fast-growing market due to rapid technological adoption across several sectors.
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Application Security Testing Market Report Highlights:
- The global application security testing market is projected to attain USD 40.6 billion at a CAGR of 16.7% by 2032.
- The global application security testing market is largely driven by the increase in digitization across several sectors, high-volume digital finance transactions, and the increase in risk of exposure to vulnerable cyber-attacks. Security applications are deployed across various levels of organizations to prevent any breach of information leakage.
- Based on application, web security is a significant market for application security. The rise in the number of cyber threats is contributing to the segment growth.
- Managed services are growing significantly due to their benefits to several business processes.
- North America accounted for a significant market share in 2022 owing to the broader footprint of technology and the growing security concern for digital assets. The region has also witnessed massive investments on the technological front and is projected to grow more. Asia Pacific is a fast-growing market attributed to the rising spending on digital security.
- Some prominent players in the application security testing market report include Accenture, Cisco Systems, IBM Corporation, McAfee LLC, and Hewlett Packard Enterprise Company.
Key Developments in the Industry:
- In 2023, Checkermarx, a leading name in cloud-native application security for businesses, has been recognized as a ‘business leader’ in application security. The company is known for low-code platform support, ChatGPT plug-in to identify potential breaches through AI-generated code, and cloud-native application support.
- In 2023, Synopsys accounted for a significant position for its application security testing tools to identify, and fix security issues.
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Application Security Testing Market Report Segmentation:
Application Security Testing Market, By Product (2023-2032)
- Stationery
- Implanted
- Wearable
Application Security Testing Market, By Application (2023-2032)
- Telemedicine
- Medication Management
- Patients Monitoring
Application Security Testing Market, By End-user (2023-2032)
- Individuals
- Healthcare Providers
- Government Hospitals & Clinics
- Private Hospitals & Clinics
Application Security Testing Market, By Region (2023-2032)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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