Global Application Security Market Size, Share, and COVID-19 Impact Analysis, By Application (Web and Mobile), By Deployment Mode (Cloud and On-Premise), By Component (Solution and Services), By Organization Size (Large Enterprises and SMEs), By Testing Type (Dynamic Application Security Testing (DAST), Static Application Security Testing (SAST), Interactive Application Security Testing (IAST), and Runtime Application Self-Protection (RASP)), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022-2030

Key Market insights

The Global Application Security Market is projected to grow from USD 6.4 billion in 2021 to USD 15.75 billion by 2030 at a CAGR of 16.1% during the forecast period.

Application security is the process of safeguarding apps by detecting, repairing, and improving their security. It enhances security capabilities within program to protect them from risks like unauthorized modification and access. It entails taking multiple proactive efforts to identify and repair vulnerabilities before hackers have a chance to attack them.

Enterprises can benefit from application security solutions in a variety of ways, including keeping customer data secure to boost consumer confidence, protecting critical data from leaks, and improving trust from important lenders and investors. In addition, the increasing requirement for measures to safeguard software and associated important data at each stage of the software development lifecycle (SDLC) is projected to have an impact on market growth.

Application security's vital role in identifying, correcting, and preventing security vulnerabilities discovered in software applications across their development life cycle is expected to drive industry demand.

COVID-19 ANALYSIS

With the COVID-19 outbreak's lockdown and social distancing measures, nearly every organization has adopted a work-from-home model, necessitating a significant demand for remote operation and monitoring of the application. In the midst of extraordinary circumstances, the COVID-19 epidemic has spurred demand for application security solutions. Furthermore, security teams within organizations with limited resources are implementing these solutions to solve various web application security concerns, resulting in an increase in demand for effective application security solutions.

Rising Uses of ML and AI in Web and Mobile-Based Security Processes  

Web and mobile applications that go through several stages of the security development life cycle, such as security design and security coding, are considered application security. Various AI domains, such as machine learning and expert systems, can be used to improve application security by generating, predicting, or applying inferences to foresee security risks, as well as identifying security vulnerabilities and providing security coding correction recommendations. Security auditors can use these technologies to automate the detection of attack threats and the code review process. Several companies, like FuGen X, USM Business Systems, and BR Softech, have used AI and machine learning in their application development initiatives.

Increased Number of Sophisticated Attacks  

The majority of firms all around the world have implemented digital transformation. Despite the economic uncertainties induced by COVID-19, 61 percent of IT and DevOps leaders intend to improve their projects, according to a recent report by OpsRamp, an information technology operations management SaaS platform. Large organizations are using applications to distribute services to their clients as part of digital transformation program. Hackers, on the other hand, are primarily targeting such apps, resulting in a rising market demand. For instance, American global corporation, and Mar Marriott International, Inc., was hacked in March 2020, and more than 5 million customer records were stolen.

Budget Constraints and ROI Hold Industries for Investments    

When businesses don't grow their apps beyond business-critical processes, such as payment-related activities or ordering items and services, they leave thousands of apps susceptible. Because they aren't updated on a regular basis, business-critical program that aren't used are harmful. Many SMEs believe that investing in these applications will be too expensive. Idle program are a long-term security risk since it is easy to break them and obtain access to the IT infrastructure, whether the application is business-critical or an infrequently utilized online application.

Due to a lack of funding or organizational illiteracy, 66 percent of internally created applications go untested for critical vulnerabilities, according to Veracode, a UK firm. Budget constraints and return on investment for SMEs have proven to be important roadblocks in the Application Security sector.

Segmentation Analysis 

The Global Application Security Market is segmented by Application, Deployment Mode, Component, Organization Size, Testing type, and Region. Based on the Application, the market is categorized into Web and Mobile. Based on Deployment Mode, the market is categorized into Cloud and On-Premise. Based on Component, the market is categorized into Solution and Services. Based on the Organization Size, the market is categorized into Large Enterprises and SMEs. Based on the Testing type, the market is categorized into Dynamic Application Security Testing (DAST), Static Application Security Testing (SAST), Interactive Application Security Testing (IAST), and Runtime Application Self-Protection (RASP). Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

Regional Insights    

North America is dominating the application security market share and is projected to continue to do so in the following years. The expansion of mobile devices and the development in cloud-based networking, as well as the existence of significant important players such as Cisco, IBM, Veracode, Synopsis, Contrast Security, WhiteHat Security, and Qualys, are all contributing to the segment's growth.  

Europe is expected to the second largest market for application security due to the increasing number of internet security projects and related investments by large companies in the United Kingdom, Spain, Germany, France, and Italy are driving the market expansion. Advanced IT security solutions are installed by key providers to protect highly sensitive information related to manufacturing activities while also increasing productivity.    

Asia Pacific is expected to witness fastest growth rate over the forecast period of application security market due to the increased usage of technologies such as AI and IoT. The rising importance of web security and privacy issues, the improving internet and mobile infrastructure, and the growing threat of cyberattacks are likely to drive market expansion in the region. Due to an increase in the number of security breaches targeting commercial applications, Asia-Pacific is predicted to expand at the fastest rate during the projection period. In addition, the number of SMEs in the region is expected to increase.     

LIST OF KEY COMPANIES PROFILED:  

• IBM Corporation (US)
• HCL Technologies Limited (India)
• Cisco Systems, Inc. (US)
• Synopsys, Inc. (US)
• Checkmarx Ltd. (Israel)
• VERACODE (US)
• Micro Focus (UK)
• Capgemini. (France)
• Rapid7 (US)
• Onapsis (US)
• GitLab B.V. (US)
• CAST (France)
• Contrast Security (US)
• Qualys, Inc. (US) 
• VMware, Inc. (US)

KEY INDUSTRY DEVELOPMENTS:    

• In February 2021, Qualys Inc. announced the launch of Qualys SaaS Detection and Response (SaaSDR), a new application security platform for SaaS applications.
• In February 2021, Checkmarx released Keeping Infrastructure as Code Secure for cloud-native apps, which gives developers more security in Infrastructure as Code. KICS is a static analysis tool that is free and open-source.
• In September 2020, Micro Focus will release Hybrid Cloud Management X with the goal of making multi-cloud service delivery easier. The service is a multi-tenant cloud-native management platform that may be used in the public cloud or on-premises.
• In June 2020, MicroFocus launched "Fortify on Demand," an application security assessment service for AWS GovCloud. To assist important federal agencies, the service can provide better testing and vulnerability management.

SEGMENTATION INSIGHT

By Application

• Web
• Mobile

By Deployment Mode

• Cloud
• On-Premise

By Component

• Solution
• Services

By Organization Size

• Large Enterprises
• SMEs

By Testing Type

• Dynamic Application Security Testing (DAST)
• Static Application Security Testing (SAST)
• Interactive Application Security Testing (IAST)
• Runtime Application Self-Protection (RASP)

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America 
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa