The "Application Security Market by Component (Software Tools (SAST and DAST) and Services), Type (Web Application Security and Mobile Application Security), Organization Size, Deployment Mode, Vertical (Healthcare and BFSI), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global application security market size is expected to grow to USD 13.2 billion by 2025, at a CAGR of 16.1%.
The application security market is driven by various factors, such as Increased in the security breaches targeting business applications, increase in the usage of mobile and cloud technologies and favorable government regulations to boost the growth of application security market across the globe during the forecast period. However, the rise in complexity of frauds can hinder the growth.
Services segment to grow at a higher CAGR during the forecast period.
Application security services are the assistance offered by security vendors in conjunction with the application security solutions. These services are focused on helping organizations achieve their business goals together with their product offerings. The application security services assist organizations in planning, implementing, integrating, and monitoring the application security environment through established best practices in the industry.
Application security services are broadly classified into two categories: professional services and managed services. The professional services include consulting services, training and education services, and support and maintenance services. Application Security services give an upper hand to organizations' security. These services help organizations make robust security decisions for proactively addressing emerging fraudulent attacks
On-premise segment to account for a higher market share during the forecast period.
The on-premises deployment mode is the traditional approach to implement application security solutions across enterprises. This is also associated with the term called 'in-house software development.' On-premises solutions provide organizations with a full control over all platforms, applications, systems, and data, which is handled and managed by their IT staff. Organizations, where user credentials are critical for business operations, usually have on-premises deployment as the information is considered to be moderately safe from external attacks since systems are held internal to the organization.
On-premises deployment also affects the cost structure of a development team as compared to cloud. The on-premises solution carries high cost as it includes cost of resources, infrastructure, integration, and maintenance. This is one of the major factors, which is shifting the consumer interest from on-premises toward the cloud.
Asia Pacific to grow at the highest rate during the forecast period.
The application security market in the Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. North America accounts for the highest share (36.83%) of the application security market in 2020. The factors supplementing this growth are the Organic and inorganic growth strategies among major application security vendors in North America such as IBM, Cisco, Synopsis, Veracode, WhiteHat Security, Onapsis, GitLab, Contrast Security, and Qualys.
Rise in Security Breaches Targeting Business Applications
Increase in Use of Mobile and Cloud-Based Technologies
Favorable Government Regulations
Budget Constraints and Return on Investments Pull Back Companies for Investments
Adoption of Artificial Intelligence and Machine Learning in Web- and Mobile-Based Security Process to Increase Demand for Application Security Market
Adoption of Application Security in Small and Medium-Sized Businesses Leads to Increase in Demand for Market
Unused Apps are a Big Security Threat
Checkmarx (Hellman and Friedman)
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201126005670/en/
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