Global application security market is expected to rise from its initial estimated value of USD 3.53 billion in 2018 to an estimated value of USD 23.19 billion by 2026, registering a CAGR of 26.53% in the forecast period of 2019-2026. Increasing cyber-crimes and attacks is the major factor for the growth of this market.
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Application security is the added security measures to a data or software to prevent different range of threats like data breaches, cyber-crimes or service attacks. To prevent the unauthorized access antivirus programs, firewalls, encryption programs etc. are used. They are widely used by companies so that they can protect their sensitive data from getting stolen or hijacked. These are very important because many applications are available through various networks which increase the risk of security threats and breaches.
- Increasing cyber-attacks is the major factor driving the market
- Commendatory government regulations related to the application security ID is driving the growth of this market
- Lack of awareness among people about cybersecurity is restraining the growth of this market.
- Ignorance of application security by various industries is restraining the market.
Major Market Competitors/Players: Global Application Security Market
Few of the major competitors currently working in the application security market are VERACODE, Hewlett Packard Enterprise Development LP, Synopsys, Inc, IBM, WhiteHat Security, Qualys, Inc, Checkmarx Ltd., Acunetix, Rapid7, Trustwave Holdings, Inc., High-Tech Bridge SA, Contrast Security., SiteLock, Pradeo, Fasoo, Inc, Oracle, Micro Focus, Positive Technologies and Pradeo.
Key Developments in the Market:
- In May 2018, Comba Telecom System Holdings Ltd has successfully installed their distributed antenna system at Bangkok Metro Networks Ltd to create a wireless network experience for the passengers. It will have different services like DAS system design, drive test and benchmarking, maintenance, managed services, network data analytics, network optimization and training. The main aim is to meet the growing demand for IoT connectivity and to maintain the optimal network quality.
- In January 2017, Synopsys, Inc. enhanced the security for mobile and web applications with the launch of their new 8.7 version of Coverity static analysis tool. This tool provide customer with enterprise-level security analysis and broad programming language support. They detect the defects and difficult security vulnerabilities in the software. The main is to improve the software security and quality.
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Global application security market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of application security market for global, Europe, North America, Asia Pacific and South America.
Segmentation: Global Application Security Market
- By Component
- Web Application Security
- Mobile Application Security
- Professional Services
- Training and Education
- Support Services
- Managed Services
- By Testing Type
- Static Application Security Testing
- Dynamic Application Security Testing
- Interactive Application Security Testing
- By Deployment Type
- By Organization
- Large Enterprises
- Small and Medium Enterprises
- By Industry Vertical
- Government and Defence
- Financial Services, and Insurance
- IT and Telecom
- Other Verticals
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
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