The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Application Security Global Market Report 2024, the application security market is expected to show significant growth in the forecast period.

The application security market has experienced exponential growth in recent years, with a significant rise from $11.3 billion in 2023 to $13.9 billion in 2024, boasting a compound annual growth rate (CAGR) of 23.1%. This surge can be attributed to various factors:

• Increased security awareness and training
• Rising cybersecurity threat landscape
• Increased frequency and sophistication of attacks
• Insider threats and privilege abuse

Forecasting Future Trends

The application security market is poised for continued exponential growth, projected to reach $32.89 billion in 2028, with a CAGR of 24.0%. Anticipated trends in the forecast period include:

• Supply chain security
• Enhanced multi-factor authentication
• Continuous security testing
• Focus on insider threat mitigation
• Unified security platforms

Catalysts Driving Market Expansion

Rising Security Breaches at the Business Application Level

The escalation of security breaches at the business application level has propelled the growth of the application security market. With approximately 4,100 publicized data breaches in December 2022 alone, businesses are increasingly turning to application security solutions to mitigate risks and safeguard sensitive information.

Revolutionizing Application Security with AI and ML

Artificial intelligence (AI) and machine learning (ML) are revolutionizing application security, offering proactive threat prevention capabilities. Through AI-driven threat detection and response mechanisms, organizations can enhance their cybersecurity posture. For example, Fortinet’s AI-based product, FortiWeb, leverages machine learning algorithms to detect and respond to attacks effectively.

Strategic Moves and Industry Giants

Strategic Acquisitions

In October 2022, Pradeo SAS, a France-based cybersecurity company, acquired Yagaan to bolster its unified cybersecurity services. This acquisition enhances Pradeo’s capabilities in source code testing and expands its coverage to include web application security, solidifying its position as a key player in the application security landscape.

Key Players

Major companies operating in the application security market include:

• International Business Machines Corporation
• Synopsys Inc.
• Checkmarx Ltd.
• Veracode Inc.
• Micro Focus International plc

Segmentation and Innovations

Market Segmentation

The application security market is segmented based on:

1. Solution: Web Application Security, Mobile Application Security
2. Testing Type: Static Application Security Testing, Dynamic Application Security Testing, Interactive Application Security Testing
3. End-User: BFSI, IT And Telecommunication, Government And Defense, Healthcare, Retail, Education, Other End Users

Innovative Developments

Innovations in application security drive market competitiveness and resilience. From advanced testing methodologies to enhanced authentication mechanisms, stakeholders are continuously innovating to address evolving threats and compliance requirements.

Regional Insights

North America Dominance

North America emerged as the largest region in the application security market in 2023, underscoring the region’s pivotal role in shaping market dynamics and technological advancements.

View More On The Application Security Market Report 2024 – https://www.thebusinessresearchcompany.com/report/application-security-global-market-report

Request A Sample Of The Global Application Security Market Report 2024:

https://www.thebusinessresearchcompany.com/sample_request?id=3897&type=smp

The Application Security Global Market Report 2024  provides an in-depth analysis on the application security market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the application security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Application Lifecycle Management Global Market Report 2024

Cybersecurity Global Market Report 2024

IoT Security Global Market Report 2024

Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708

Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: