(MENAFN- PR Newswire)
NEW YORK, Sept. 24, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global application security market size is estimated to grow by USD 20.02 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of
23.11%
during the forecast period. Growing number of data leaks
is driving market growth,
with a trend towards
prevalence of shadow it
However,
threat from open-source application security solutions
poses a challenge - Key market players include Broadcom Inc., Capgemini Service SAS, Checkmarx Ltd., Contrast Security Inc., Dynatrace Inc., F5 Inc., Fasoo, Fortinet Inc., Hewlett Packard Enterprise Co., ImmuniWeb SA, International Business Machines Corp., Invicti Security Ltd., Nippon Telegraph And Telephone Corp., PRADEO Security Systems SAS, Qualys Inc., Rapid7 Inc., Singapore Telecommunications Ltd., Sitelock LLC, Synopsys Inc., and Trend Micro Inc..
Continue Reading
Technavio has announced its latest market research report titled Global application security market 2024-2028
Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report
| Application Security Market Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 23.11% |
| Market growth 2024-2028 |
USD 20017.9 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
19.52 |
| Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
| Performing market contribution |
North America at 39% |
| Key countries |
US, China, UK, Canada, and Germany |
| Key companies profiled |
Broadcom Inc., Capgemini Service SAS, Checkmarx Ltd., Contrast Security Inc., Dynatrace Inc., F5 Inc., Fasoo, Fortinet Inc., Hewlett Packard Enterprise Co., ImmuniWeb SA, International Business Machines Corp., Invicti Security Ltd., Nippon Telegraph And Telephone Corp., PRADEO Security Systems SAS, Qualys Inc., Rapid7 Inc., Singapore Telecommunications Ltd., Sitelock LLC, Synopsys Inc., and Trend Micro Inc. |
Market Driver
Shadow IT refers to digital solutions used by enterprises without explicit approval from management. Tools like Slack, Google Docs, and Evernote are common examples. The rise of IoT devices and cloud-based services fuels shadow IT adoption, as they offer instant access and bypass IT procurement processes. However, this trend poses a risk to data security, as IT departments cannot monitor these unauthorized tools. Sensitive data may be transmitted to unauthorized persons, and unsecured cloud services increase the risk of data loss. Application security solutions mitigate these risks by securing sensitive information across an enterprise's network. These solutions can block file transfers containing specific types of sensitive information, ensuring regulatory compliance. By addressing the weaknesses of shadow IT, application security solutions will drive market growth during the forecast period.
Application Security is a critical business issue as the number of security breaches continues to rise. With the increasing reliance on software development for business applications, securing sensitive data has become essential. Small and Medium Enterprises (SMEs) are particularly vulnerable to cybersecurity threats from hackers looking to steal customer data. Artificial Intelligence (AI) and Machine Learning (ML) are being used to identify and mitigate application vulnerabilities. Dentists' CAD systems, financial institutions, and government apps are just a few examples of business-critical programs that need protection. Cybercriminals target web and mobile applications, exploiting third-party dependencies and IoT devices. Big data analytics and AI-driven methods help identify and patch apps quickly. Security concerns extend to digital infrastructure, deployment on-cloud or on-premises, and data sharing between mobile devices and online apps. Cybersecurity threats include malware, data theft, and fraudsters targeting financial transactions. Technologically advanced solutions, such as Bionic Signals, help businesses stay ahead of cybercriminals by providing real-time threat detection and response. Cybersecurity is no longer an option but a necessity for every business.
Request Sample
of our comprehensive report now to stay ahead in the AI-driven market evolution!
Market Challenges
Open-source application security solutions present a significant challenge to the application security market. These solutions, which can be used on various platforms and are gaining popularity in economies like India and China, are particularly attractive to small-scale enterprises due to their affordability. Open-source solutions require less capital investment compared to on-premises and cloud-based alternatives. However, the widespread adoption of these solutions is leading to a decrease in revenue for the application security market. This trend is expected to impact the growth of the market during the forecast period.
Application Security is a critical business issue for all organizations, especially those using Dentists' CAD systems, web applications, and mobile apps. Large enterprises, financial institutions, and government agencies face significant security concerns as cybercriminals target digital infrastructure to steal data and disrupt business-critical programs. Data breaches can result from unpatched apps, data sharing, and mobile devices, as well as IoT, online apps, and internet access. Online commerce, cloud software programs, and digital marketin channels also pose risks. Security challenges include protecting against malware, data theft, and fraudsters. Deploying applications on-cloud or on-premises requires robust security solutions. Technologically advanced solutions like transparent data encryption, anonymization technology, AI workloads, and workload protection are essential. Prioritizing vulnerability management and understanding fourth-party risk posture are also crucial. Businesses must secure their corporate infrastructure from cyber threats, ensuring the security of their UI, web apps, mobile apps, and software. By implementing strong security measures, organizations can safeguard their digital assets and maintain customer trust.
Discover how AI is revolutionizing market trends-
Get your access now!
Segment Overview
This application security market report extensively covers market segmentation by
Deployment
1.1 On-premises
1.2 Cloud
End-user
2.1 Web application security
2.2 Mobile application security
Geography
3.1 North America
3.2 Europe
3.3 APAC
3.4 Middle East and Africa
3.5 South America
1.1
On-premises-
The Application Security market is experiencing significant growth due to the increasing number of cyber threats and data breaches. Companies are investing heavily in application security solutions to protect their digital assets. Solutions like Web Application Firewalls , Runtime Application Self-Protection, and Security Testing are popular choices. These tools help prevent attacks, detect vulnerabilities, and ensure compliance with security regulations. The market is expected to continue growing as businesses prioritize cybersecurity in their digital transformation initiatives.
Download a Sample
of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics
Research Analysis
The Application Security market is a critical segment of the cybersecurity industry, focusing on protecting business applications from security breaches. With the increasing reliance on software development and digital infrastructure, the need for robust application security solutions has become essential. Artificial intelligence (AI) and machine learning (ML) are transforming application security, enabling the detection of cybersecurity threats in real-time. Small and Medium Enterprises (SMEs) are particularly vulnerable to application vulnerabilities, making customer data security a top priority. Cybersecurity threats from hackers continue to evolve, targeting sensitive data in business applications. Bionic Signals and big data analytics are increasingly being used to identify and mitigate application vulnerabilities. Third-party dependencies, mobile devices, IoT, online apps, and internet access are additional areas of concern. Business-critical programs require patching to address known vulnerabilities, while data sharing adds complexity to application security. AI-driven methods are becoming essential to keep up with the ever-evolving cybersecurity landscape.
Market Research Overview
Application Security is a critical aspect of protecting business applications and sensitive data from cybersecurity threats. With the increasing use of software development in business processes, the risk of security breaches through application vulnerabilities has grown significantly. Small and Medium Enterprises (SMEs) are particularly vulnerable, as they may lack the resources to implement robust security measures. Artificial intelligence (AI) and machine learning (ML) are being increasingly used to detect and mitigate cybersecurity threats in real-time. However, third-party dependencies, such as those in dental CAD systems or web and mobile applications, can introduce new vulnerabilities. Cybercriminals continue to target financial institutions and other large enterprises, seeking to steal customer data and disrupt business-critical programs. Hackers exploit application vulnerabilities, using malware and other methods to gain unauthorized access to digital infrastructure. Technologically advanced solutions, such as AI-driven methods, big data analytics, and transparent data encryption, are essential for effective application security. These solutions can help prioritize vulnerability management, protect AI workloads and workload protection, and mitigate fourth-party risk posture. Business applications, including web, mobile, and online apps, must be secured against cyber threats, particularly those related to deployment, whether on-cloud or on-premises. Cybersecurity concerns extend to digital marketing, social media influencing, content marketing, and cloud software programs. User interface (UI) design also plays a role in application security, with anonymization technology and patch apps essential for protecting sensitive data. Malware and data theft remain significant threats, particularly in the context of IoT, mobile devices, and online commerce. Government apps and corporate infrastructure are also at risk, with fraudsters seeking to exploit vulnerabilities in these areas. Effective application security requires a holistic approach, addressing all aspects of the digital ecosystem, from software development to deployment and ongoing management.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Deployment
End-user
Web Application Security
Mobile Application Security
Geography
North America
Europe
APAC
Middle East And Africa
South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
[email protected]
Website:
SOURCE Technavio
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE?
440k+
Newsrooms &
Influencers
9k+
Digital Media
Outlets
270k+
Journalists
Opted In
GET STARTED
MENAFN24092024003732001241ID1108711186
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.