Application Security Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Application Security Testing Market Growth & Companies. The Market is Segmented by Application (Web, Mobile), Component (Services (Managed and Professions), Deployment (Cloud, On-Premise)), Organization Size (SMEs, Large Enterprises), Type of Security Testing (SAST, DAST, IAST, RASP), End-user Vertical (Healthcare, BFSI, Education, Retail, Government), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market size and forecasts are provided in terms of value (USD billion) for all the above segments.

Application Security Market Size

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Application Security Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 11.62 Billion
Market Size (2029) USD 25.92 Billion
CAGR (2024 - 2029) 17.39 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Application Security Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Application Security Market Analysis

The Application Security Market size is estimated at USD 11.62 billion in 2024, and is expected to reach USD 25.92 billion by 2029, growing at a CAGR of 17.39% during the forecast period (2024-2029).

Application security has become necessary with an increasing number of companies looking to develop their apps, purchase a record number of applications, and incorporate open-source code into their applications. The vulnerabilities and risks associated with these applications have risen exponentially.

  • The application security systems reduce the security risks involved in the different operations of various applications, such as web and mobile applications. It has been anticipated that web applications would remain the most frequent cause of confirmed breaches, with organizations majorly connecting to various business-critical applications. On the internet, a breach risk has been continuously increasing.
  • Despite the increasing frequency of data breaches and cybercrime, several types of research indicate that more money or attention still needs to be given to information security, specifically cybersecurity, in the workplace. When applications are used only within business-critical activities, such as payment-related activities or ordering goods and services, enterprises leave thousands of applications unused.
  • Moreover, the usage of machine learning and artificial intelligence in mobile and web-based security processes bolsters the demand for the application security market. Application security encompasses mobile and web applications that go through several stages of the security development cycle, such as security coding and design.
  • Several AI-specific fields, like ML and expert systems, could enhance application security by generating, forecasting, or applying inferences to identify security vulnerabilities, anticipate security risks, and provide security code remediation recommendations. Moreover, security professionals are also using these technologies to automate attack risk identification and code review. Numerous firms, like BR Softech, FuGen X, and USM Business Systems, use ML and AI for application development projects.
  • With the outbreak of COVID-19, almost the majority of the organization had shifted to work from the home model due to the lockdown and social distancing measures that created a significant demand for managing the application and monitoring the application aspect remotely. For instance, last year, OpsRamp expanded its network, UC monitoring for the WFH world with new functionality in the OpsRamp platform that offers solutions providers a way to help customers manage hybrid and multi-cloud IT environments and meet the needs of work-from-home employees as demand for cloud applications, unified communications (UC) and collaboration tools, video conferencing, and other IT resources had increased significantly.

Application Security Market Trends

This section covers the major market trends shaping the Application Security Market according to our research experts:

Increased Number of Third-party Applications, such as E-commerce

  • Technological advancements have completely revolutionized the retail industry as retailers provide personalized shopping experiences on a global scale with the help of technology. According to Think with Google, 84% of shoppers in physical stores use their smartphones to get information about products and compare shops.
  • Mobile app technology has become critical for boosting customer engagement and giving customers multiple choices regarding personalized shopping experiences. Moreover, it is anticipated that retailers will continue to improve the online shopping experience by investing in mobile apps, beacons for in-store use, in-app shopping capabilities, mobile payments in stores, and mobile advertisements. Such instances are driving market growth in the retail sector.
  • Moreover, the retail industry is aided by thousands of specialty software applications designed for specific needs. According to IBM, an average retail chain uses about 450 such applications, which is higher than many other industries. Several other applications are expected to surface with the increasing shift to digitization. Additionally, supportive government regulations worldwide encourage retail players to deploy API. This is further expected to promote the growth of the application security market in the retail sector.
  • Further, the global pandemic has accelerated the trend of mobile e-commerce (sometimes called m-commerce), whether buyers use their phones to schedule pick-up curbside or deliver items to avoid the risks of in-person shopping. Thus, shopping from phones and tablets has been on the rise for a long time and is expected to remain high.
Application Security Market - Global Retail Ecommerce Sales, 2019-22, $ Billion

North America Accounts for the Largest Market Share

  • In the digital age, financial crimes against banks and other financial services institutions are accelerating rapidly. This year, card fraud is expected to increase globally with substantial growth. Furthermore, hacking via stolen credentials was most commonly seen, which are then used to hack into the enterprise's web-based email and other web applications.
  • There have been multiple cases where enterprises in North America have been victims of cyber-attack. Such attacks have impacted most end-user industries, including the government, BFSI, and others. In the last year, almost 30,000 United States organizations were disrupted by a massive attack on the Microsoft Exchange email servers, which is one of the most considerable email servers on a global level. With this, the hackers could easily exploit the four separate zero-day vulnerabilities to access emails from small enterprises to local governments.
  • The government authorities in the region are also working to decrease cybercrimes in the area. The government's influence also encourages the use of application security solutions. For instance, this year, the Department of Homeland Security (DHS) introduced a new cybersecurity grant program for state, local, and territorial (SLT) governments around the country.
  • This State and Local Cybersecurity Grant Program, facilitated by President Biden's Bipartisan Infrastructure Act, offers 1 billion USD in funding for four years to SLT partners, with 185 million USD available in the current financial year, to assist SLT efforts to mitigate cyber risk to their information systems. With this support, SLT governments would be better positioned to manage cybersecurity risks, enhance the cybersecurity of their vital infrastructure, and provide resilience against continuous cyber attacks for the services they deliver to their communities.
  • Moreover, in July last year, The United States Departments of Justice (DOJ) and Homeland Security (DHS), in collaboration with government partners, developed a new website to tackle the ransomware threat. StopRansomware.gov serves as a one-stop source for ransomware information for people, corporations, and other organizations. StopRansomware.gov is the first joint website launched by the federal government to assist private and public enterprises in mitigating their ransomware risk.
Application Security Market - Growth Rate by Region

Application Security Industry Overview

The application security market is highly fragmented due to many players. Many players in the market are making innovations to differentiate themselves from their competitors. Some key players in the market include IBM, Oracle, and Synopsys Inc., among others. Some key recent developments in the market include:

In October 2022, Oracle announced Oracle Database 23c Beta, which handles all workloads, data types, and development styles. Oracle Database 23c, codename "App Simple," emphasizes application and development simplification. Further, additional innovations across Oracle's database services and product portfolio enhance Oracle's position in its performance, security, and reliability for mission-critical workloads.

Application Security Market Leaders

  1. IBM Corporation

  2. Oracle Corporation

  3. Veracode (Thoma Bravo)

  4. Synopsys Inc.

  5. Qualys Inc.

*Disclaimer: Major Players sorted in no particular order

Application Security Market Concentration
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Application Security Market News

  • October 2022: Qualys, Inc., a disruptive cloud-based IT, security, and compliance solutions provider acquired Blue Hexagon's assets. This integrates AI/machine learning (AI/ML) into the Qualys Cloud Platform, enabling businesses to translate petabytes of fully integrated data into valuable insights. This acquisition will allow Qualys to leverage its robust Cloud Platform and its more than 10 trillion data points to find behavioral patterns such as enhanced network threat identification, active vulnerability exploitation, and adaptable risk mitigation across all assets and apps. This dynamic blend of fully integrated security data and machine learning technologies will provide Qualys customers with predictive and automatic cyber security risk mitigation.
  • June 2022: WhiteHat Security, an application security Software-as-a-Service (SaaS) provider, was acquired by Synopsys, Inc. With the acquisition of WhiteHat Security, Synopsys gains significant SaaS capabilities and market-leading dynamic application security testing (DAST) technologies, further strengthening one of the industry's most comprehensive application security testing portfolios.

Application Security Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - 'Porter's Five Forces Analysis'

      1. 4.2.1 Threat of New Entrants

      2. 4.2.2 Bargaining Power of Buyers/Consumers

      3. 4.2.3 Bargaining Power of Suppliers

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Favorable Government Regulations

      2. 5.1.2 Increased Number of Sophisticated Attacks

      3. 5.1.3 Increased Number of Third-party Applications

    2. 5.2 Market Restraints

      1. 5.2.1 Budget Constraints and Unused Applications Restrict Companies from Adoption

      2. 5.2.2 Negligence of Application Security by Industries

  6. 6. MARKET SEGMENTATION

    1. 6.1 Application

      1. 6.1.1 Web Application Security

      2. 6.1.2 Mobile Application Security

    2. 6.2 Component

      1. 6.2.1 Service

        1. 6.2.1.1 Managed

        2. 6.2.1.2 Professional

      2. 6.2.2 Deployment (Solution)

        1. 6.2.2.1 Cloud

        2. 6.2.2.2 On-premise

    3. 6.3 Organization Size

      1. 6.3.1 Small and Medium Enterprises

      2. 6.3.2 Large Enterprises

    4. 6.4 Types of Security Testing

      1. 6.4.1 Static Application Security Testing (SAST)

      2. 6.4.2 Dynamic Application Security Testing (DAST)

      3. 6.4.3 Interactive Application Security Testing (IAST)

      4. 6.4.4 Run-Time Application Self Protection (RASP)

    5. 6.5 End-user Industry

      1. 6.5.1 Healthcare

      2. 6.5.2 BFSI

      3. 6.5.3 Education

      4. 6.5.4 Retail

      5. 6.5.5 Government

      6. 6.5.6 Other End-user Verticals

    6. 6.6 Geography

      1. 6.6.1 North America

      2. 6.6.2 Europe

      3. 6.6.3 Asia-Pacific

      4. 6.6.4 Latin America

      5. 6.6.5 Middle East & Africa

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 IBM Corporation

      2. 7.1.2 Oracle Corporation

      3. 7.1.3 Micro Focus International PLC

      4. 7.1.4 Checkmarx Ltd

      5. 7.1.5 Veracode (Thoma Bravo)

      6. 7.1.6 Synopsys Inc.

      7. 7.1.7 WhiteHat Security Inc.( NTT Security Corporation)

      8. 7.1.8 Rapid7 Inc.

      9. 7.1.9 Qualys Inc.

      10. 7.1.10 SiteLock LLC

      11. 7.1.11 Contrast Security

      12. 7.1.12 Positive Technologies

      13. 7.1.13 Fasoo.com Inc.

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Application Security Industry Segmentation

Application security encompasses measures taken to improve the security of an application, often by finding, fixing, and preventing security vulnerabilities. Different techniques surface security vulnerabilities at various stages of an application's lifecycle, such as design, development, deployment, upgrade, and maintenance.

The Application Security Market is segmented by Application (Web, Mobile), Component (Services (Managed and Professions), Deployment (Cloud, On-Premise)), Organization Size (SMEs, Large Enterprises), Type of Security Testing (SAST, DAST, IAST, RASP), End-user Vertical (Healthcare, BFSI, Education, Retail, Government), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa).

The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.

Application
Web Application Security
Mobile Application Security
Component
Service
Managed
Professional
Deployment (Solution)
Cloud
On-premise
Organization Size
Small and Medium Enterprises
Large Enterprises
Types of Security Testing
Static Application Security Testing (SAST)
Dynamic Application Security Testing (DAST)
Interactive Application Security Testing (IAST)
Run-Time Application Self Protection (RASP)
End-user Industry
Healthcare
BFSI
Education
Retail
Government
Other End-user Verticals
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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Application Security Market Research FAQs

The Application Security Market size is expected to reach USD 11.62 billion in 2024 and grow at a CAGR of 17.39% to reach USD 25.92 billion by 2029.

In 2024, the Application Security Market size is expected to reach USD 11.62 billion.

IBM Corporation, Oracle Corporation, Veracode (Thoma Bravo), Synopsys Inc. and Qualys Inc. are the major companies operating in the Application Security Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Application Security Market.

In 2023, the Application Security Market size was estimated at USD 9.90 billion. The report covers the Application Security Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Application Security Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The key challenges faced in the Application Security Market are a) Integrating security throughout the development lifecycle b) Shortage of qualified application security professionals c) Managing application security across complex IT environments

Application Security Industry Report

The global application security market is witnessing remarkable growth, fueled by the need to shield business applications from security breaches. This surge is propelled by the adoption of mobile and cloud technologies, stringent compliance demands, and the banking, financial services, and insurance (BFSI) sector's focus on protecting sensitive data. Application security companies are at the forefront, integrating Artificial Intelligence (AI) and Machine Learning (ML) to bolster web and mobile security, despite facing budget and innovation cost challenges. These providers are dedicated to developing cutting-edge solutions to meet the dynamic requirements of businesses, ensuring the safeguarding of critical applications against new threats. This evolution highlights the critical role of application security in maintaining business integrity and customer trust in today's digital era. For detailed insights, Mordor Intelligence™ offers comprehensive analysis and forecasts on market share, size, and revenue growth in the application security sector, available for download as a free report PDF, showcasing the promising opportunities for application security companies and providers in navigating the market's future.

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Application Security Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)