The Global Application Security Market size reached USD 7.12 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 25.93 billion by 2030. The market is growing at a CAGR of 16.6% during the forecast period (2023-2030). The global application security market is a rapidly growing industry that focuses on securing software applications from cyber threats.
With the rise of cloud-based and mobile applications, the demand for application security solutions is witnessing an upward market trend. The segment of web application security dominates the market, with more than 50% market share in the type segment due to the high adoption rate among businesses.
North America is the dominating region for application security with over 27% market share in the regional segment, owing to the presence of a large number of technology companies and early adopters of advanced security solutions. With the increasing use of technology and digital transformation across industries, the need for secure software development practices is expected to grow, offering market opportunities for the global application security market.
Metrics |
Details |
CAGR |
16.6% |
Size Available for Years |
2021-2030 |
Forecast Period |
2023-2030 |
Data Availability |
Value (USD ) |
Segments Covered |
Component, Type, Deployment Mode, Organization Size, Testing Type, End-User and Region |
Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
Fastest Growing Region |
Asia-Pacific |
Largest Region |
North America |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
The Increasing Frequency and Severity of Cyber Attacks
The global application security market has seen significant market growth in recent years, with a major driver being the increasing frequency and severity of cyber attacks. As businesses and organizations become increasingly reliant on technology, the potential impact of security breaches becomes more severe, leading to a greater focus on application security. Governments around the world are also taking action to address the growing threat of cyber attacks.
In the U.S., the Cybersecurity and Infrastructure Security Agency (CISA) has launched several initiatives to improve application security, including the establishment of the National Cybersecurity and Communications Integration Center (NCCIC) and the Software Assurance Marketplace (SWAMP). In the European Union, the General Data Protection Regulation (GDPR) and the Network and Information Systems (NIS) Directive have placed greater emphasis on the importance of data protection and cybersecurity.
As a result of these market trends, businesses and organizations are increasingly investing in application security solutions to protect their critical applications from cyber attacks.
The Lack of Skilled Cybersecurity Professionals
One of the primary market restraints for the application security market is the lack of skilled cybersecurity professionals. According to a report by (ISC)², there is currently a global cybersecurity workforce shortage of nearly 3.1 million professionals, with a projected shortfall of 4.07 million by 2022.
The respective shortage of skilled professionals creates a significant challenge for organizations seeking to implement effective application security solutions, as they struggle to find and hire the necessary talent to manage and operate these solutions.
The shortage of cybersecurity professionals is particularly acute in certain regions of the world, such as the Asia-Pacific region. According to a report by Frost & Sullivan, the Asia-Pacific region is facing a critical shortage of cybersecurity talent, with an estimated shortfall of 2.14 million professionals by 2022.
The aforementioned shortage is hampering the growth of the application security market as organizations struggle to find and retain the necessary talent to implement and manage these solutions.
The global application security market is segmented based on type, component, deployment mode, organization size, testing type, end-user and region.
Rapid Growth of Mobile Technology and the Widespread Adoption of Mobile Devices
Mobile application security has become an increasingly critical concern in the global application security market. With the rapid growth of mobile technology and the widespread adoption of mobile devices, the need for robust and effective security measures to protect mobile applications from cyber threats has become more important than ever before.
According to the United Nations' International Telecommunication Union, the number of mobile broadband subscriptions worldwide reached 4.4 billion in 2020, with more than half of the world's population using mobile devices to access the internet.
The widespread adoption of mobile technology has made mobile devices a prime target for cyber attacks, with mobile applications being a particularly vulnerable point of entry. In conclusion, the mobile application security segment is growing in the global application security market due to the widespread adoption of mobile devices.
Increasing Importance of Cybersecurity and Data Protection
The global application security market has experienced significant growth in recent years, and North America has emerged as a key player in this market. One key factor driving growth in North America's application security market is the increasing importance of cybersecurity and data protection. With the rise of digital technologies and the increasing amount of sensitive data being transmitted online, organizations are under greater pressure than ever to ensure the security of their applications.
The respective fact has led to an increasing demand for application security solutions, particularly in industries such as finance, healthcare and government. Another factor contributing to North America's growth in the application security market is the high level of innovation and investment in the technology sector in this region.
Recent product launches in North America's application security market reflect this trend toward innovation and investment. In January 2021, Veracode announced the launch of Security Labs, a new platform for hands-on application security training and education. The platform provides developers and security professionals with access to realistic environments for practicing and improving their security skills.
These recent product launches highlight the ongoing innovation and investment in North America's application security market. As organizations continue to prioritize cybersecurity and data protection and as the threat landscape continues to evolve, companies in this region will need to remain at the forefront of technological development to stay competitive.
The major global players include Capgemini, Cisco Systems Inc.HCL Technologies, IBM Corporation, MicroFocus, Qualys, RAPID7, Synopsys, Veracode and VMware.
Why Purchase the Report?
The Global Application Security Market Report Would Provide Approximately 87 Tables, 90 Figures and 234 Pages.
Target Audience 2023
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