Application Security Market

The Application Security market is anticipated to rise sharply. Its estimated value is projected to reach USD 33.7 billion in 2024 and grow at a compound annual growth rate (CAGR) of 10.3% to USD 55.0 billion by 2029.

With more security breaches aimed at commercial applications, more people using mobile and cloud technologies, and favourable government laws, the industry is expected to grow significantly. For application security providers, there are a lot of opportunities due to the development of cutting-edge technologies like AI and ML and the increasing requirement to safeguard sensitive data privacy.

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Application Security Market Growth is driven by the following key factors,

Increasing Cybersecurity Threats

• The frequency and sophistication of cyberattacks are continually rising, compelling organizations to prioritize application security. High-profile breaches and the evolving tactics of cybercriminals highlight the need for robust security measures, driving demand for advanced application security solutions.

Proliferation of Mobile and Web Applications

• The rapid growth in the number of mobile and web applications necessitates enhanced security measures. As businesses and consumers increasingly rely on digital applications for various services, securing these applications from potential vulnerabilities becomes critical, fueling the application security market.

Adoption of Cloud Computing

• The widespread adoption of cloud computing introduces new security challenges. Protecting applications in cloud environments requires specialized security solutions designed for cloud infrastructure, such as container security and serverless application protection. This shift to the cloud accelerates the demand for comprehensive application security tools.

Regulatory Compliance and Data Privacy

• Stringent regulations around data protection and privacy, such as GDPR, CCPA, and HIPAA, mandate robust security measures. Organizations must ensure their applications comply with these regulations to avoid hefty fines and legal repercussions, thereby driving the adoption of application security solutions.

Growth of DevSecOps Practices

• The integration of security into the DevOps process, known as DevSecOps, emphasizes the need for security tools that can be seamlessly integrated into the development pipeline. As more organizations adopt DevSecOps to enhance their security posture and speed up the software delivery process, the demand for application security solutions grows.

Rise of Internet of Things (IoT)

• The expanding IoT ecosystem introduces numerous connected devices that require secure communication and data protection. Securing IoT applications against potential vulnerabilities and attacks is essential, contributing to the growth of the application security market as organizations seek to protect their IoT deployments.

Increased Focus on API Security

• APIs are integral to modern applications, enabling communication between different services. However, they also present new attack vectors. The increasing use of APIs in applications drives the need for robust API security measures, including authentication, authorization, and continuous monitoring, boosting the application security market.

Digital Transformation Initiatives

• Organizations across various industries are undergoing digital transformation, adopting new technologies and processes to enhance efficiency and competitiveness. As part of this transformation, securing digital applications becomes paramount, driving investments in application security solutions to protect sensitive data and ensure business continuity.

Advancements in AI and Machine Learning

• The integration of AI and ML in application security solutions enhances their effectiveness in detecting and mitigating threats. AI-driven tools can analyze vast amounts of data to identify patterns and anomalies, predict potential threats, and automate responses. These advancements make security solutions more efficient and appealing to organizations, driving market growth.

Increasing Awareness and Education

• There is growing awareness among businesses about the importance of application security. Continuous education and training programs help organizations understand the risks associated with insecure applications and the benefits of implementing robust security measures. This increased awareness encourages more businesses to invest in application security solutions.

Application Security Market Share - Global Industry Landscape:

• Checkmarks (US)
• Fortinet (US)
• Checkpoint (Israel)
• Broadcom (US)
• Palo Alto Networks (US)
• Qualys (US)

Each of these companies plays a crucial role in the application security market, offering specialized tools and services that address different aspects of securing applications from development through deployment and beyond. Their market share and influence are driven by their innovative solutions and ability to address the evolving security needs of modern enterprises.

Checkmarks (US):

Market Share: Checkmarx is a leading provider in the application security space, especially known for its static application security testing (SAST) solutions.

Key Offerings:

• SAST: Identifies vulnerabilities in the source code during development.
• SCA: Analyzes open-source components for security risks and licensing issues.
• IAST: Combines static and dynamic analysis to detect vulnerabilities.
• Codebashing: Developer training platform focused on secure coding practices.

Fortinet (US) :

Market Share: Fortinet is a prominent player in the cybersecurity market with a substantial share in network and application security solutions.

Key Offerings:

• FortiWeb: Web application firewall (WAF) that protects web applications from known and unknown threats.
• FortiGuard: Real-time threat intelligence services.
• FortiSandbox: Advanced threat protection and mitigation.
• Application Security Manager: Granular security policies for safeguarding applications.

Check Point Software Technologies (Israel)

Market Share: Check Point is a major cybersecurity company, holding a significant share in the application security market.

Key Offerings:

• AppSec: Web application firewall and protection against OWASP Top 10 threats.
• CloudGuard AppSec: Cloud-native application security with runtime protection and automated threat prevention.
• Infinity Architecture: Unified security for networks, cloud environments, and endpoints.

Broadcom (US)

Market Share: Broadcom has a strong presence in the application security market, particularly after acquiring Symantec’s enterprise security business.

Key Offerings:

• Symantec Web Application Security: WAF, DDoS protection, and bot management.
• Symantec Critical System Protection: Zero-day exploit protection and critical system security.
• Endpoint Security: Integrated with application security for a comprehensive security posture.

Palo Alto Networks (US)

Market Share: Palo Alto Networks is a leading cybersecurity firm with a significant share in both network and application security markets.

Key Offerings:

• Prisma Cloud: Cloud-native security platform covering CWPP and CSPM.
• Cortex XDR: Extended detection and response platform integrating application security insights.
• App-ID: Identifies and controls applications within the network.

 

Related Reports:

Application Security Market by Type, Component, Organization Size, Deployment Mode, Vertical (BFSI, Government & Public Sector, Healthcare, Telecommunication, Retail E-commerce, Education, IT&ITES) and Region - Global Forecast to 2029