Global Application Security Market, By Solution (Mobile Application Security, Web Application Security), By Services (Professional, Managed) By Deployment (Cloud, On-Premise) by End Use, opportunities and forecast 2020-2027
Covid-19 Impact on Application Security Market:
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.Market Overview
Presently, software application has become integral part of the business environment regardless of the prime business procedure of the company. The safety of the software applications have been big concern to the organization as they are regularly accessible to network and consequently vulnerable to wide range of the security threat. The organization used the security as countermeasure to protect the critical data from the external intimidations by safeguarding the software used to run the business operation.
The cloud-based and mobile computing technology have radically changed business state. Currently, most of company use various software application to carry out the business process, for instance, Amazon highly depend on their online websites and the mobile application to sell wide range of products to consumers.
The rapid development in these mobile and web based applications has shaped more complex, dispersed IT infrastructures which are hard to secure. Earlier, organizations have majorly taken the measure to protect IT infrastructure by safeguarding the network layer. Though, currently many businesses are facing cyber-attacks issues owed of flaw in design of software application which cannot be protected by using conventional network security measure.Segment Overview
The global demand for the mobile application security is likely to grow at highest CAGR of 15.0% from 2020 to 2026. The rapidly rising adoption of BYOD policies and internet usage service within enterprise have increased the usage of personal devices including tablets, smartphones, and smart wearable to access the organization information. This has led to the increasing number of the non-IT controlled application along with the corporate network. It has all lead to the increase in risk related to data openings regarding mobile application that in turn response to the high demand among the user and enterprise to protect their critical information unprotected to public and private network.
The web application is predictable to hold major share of market in 2026. The web is one of weakest points of corporate cyber security. As per the Verizon’s Data Breach Inquiries report, over 35 percent of the data breaches is caused by web application vulnerabilities. Rising security breaches in the web application is predictable to boost demand for security solution.Regional Overview
North America is anticipated to hold largest market size in application security market during forecast period, followed by European region. The maximum market share of the North America is owing to the stable economy, inclination to adopt new, emerging technologies as well as presence of key market players in the region is major factor responsible for growth. Some of major players in the region are Hewlett Packard Enterprise, IBM Corporation, Veracode, WhiteHat Security.
Asia Pacific holds over 20% the market share in 2019. The growing dependence on Internet has amplified vulnerabilities, providing the opportunities for the hackers and attackers. Numerous SMEs and the large enterprise within Asia Pacific region have been devoting in cyber security, owing to increasing major issues of the security breaches. The growing number of cyber-attacks at the application layer, the growing mobile and web application, and the stringent government laws are expected to further propel market growth in Asia-Pacific region.Competitor overview
The global market is highly competitive, key industry competitors include IBM, Qualys, Inc., Veracode, and Hewlett Packard Enterprise, WhiteHat Security. The security service suppliers are using partnership, acquisition, and research & development approaches to widen their product portfolio. For example, in 2015 company, WhiteHat Security formed the partners with the Prevoty, company that provides the Real-Time Application Security Intelligence (RASP) products to deliver its customer option to recognised application bugs and the defects automatically by means of RASP capabilities presented by the Prevoty.Key Players
- Hewlett Packard Enterprises
- IBM Corporation
- WhiteHat Security
- High-Tech Bridge
- Contrast Security
- Mobile Application security
- Web Application security
By End Use
- IT & Telecom
- Government and defence
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA