Application Security Industry Business Development Analysis and Future Challenges by 2024

Application Security Industry Business Development
Analysis and Future Challenges by 2024: Global Market
Insights Inc.
This Application Security Market report is an exhaustive research on company’s active
in Application Security sector, its applications, products, end-users, trends and
predictions on how the market will grow in coming years.
Application Security Market size will witness a rapid growth owing to the increasing
need for safety in enterprise level applications. It is the process of using hardware,
software, and various procedures with additional features to protect enterprise
applications from external threats such as cyber-attacks and other data thefts.
Application security includes recognizing, correcting, and securing the data from
malicious attacks throughout the life cycle of the application.
Combating the increasing security breaches in major industries, such as BFSI, is
driving the application security market. The use of software in almost all industry
verticals and the protection of these software applications will result in a rise in the
industry demand. The rising e-commerce industries carrying a huge customer data
and various transactions taking place over the internet need to be protected as they
are viable to theft and data leakage, which can cause huge losses to the enterprise.
The protection of this data over the web and mobile applications augments the
application security market growth.
Many enterprises are facing cyber-attack issues owing to flaws in the development
phase of the application security market. Hence, protecting the software and acute
data at every stage of the system development life cycle is anticipated to spur the
application security market growth. The government’s laws and stringent schemes,
such as Cyber growth partnership in India, are also accountable for the industry
growth. Major opportunities for the application security market are the increasing use
of smartphones and high rate of adoption of IoT. Moreover, rapid digitization in
emerging economies will aid the development of the application security market.
Developers reuse old codes, causing security bugs and letting hackers enter
organizations through these vulnerable codes. In the case of limited resources, the
industry may not be able to locate these potential paths of hackers, which may hamper
the industry growth. Moreover, the limited awareness about the benefits of cyber
security amongst the public also acts as an inhibiting factor in the application security
market growth.
Application security market can be segmented on basis of component solutions,
services, deployment methods, and applications. The use of smartphones and tablets
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has been increasing rapidly, which has resulted in an increase in the data breach;
hence, mobile application security is of utmost importance to protect users’ critical
information visible to public and private networks.
The application security market offers professional services, which include consulting
services and various training and education services. Various enterprises are
outsourcing their security services to various third-party service providers due to their
dearth of experience and required skills, which are anticipated to boost the application
security market over the forecast time span.
On-premise and cloud-based are the two deployment techniques adopted in the
application security market. On-premise security tools offer a high level of security and
control as compared to cloud techniques. It provides businesses a control of the
overall data managed by their IT staff, enhancing the safety. The use of these
techniques varies depending upon their application areas.
Banking and insurance services, education, government, media & entertainment,
retail, IT, telecommunication, and hospitality are the end-use verticals of the
application security market. Various government sites and links should be protected
from hackers as they carry vital national data, enhancing the use of application security
systems.
Banking, financial, and insurance services are anticipated to observe the highest
adoption of these services. Monetary transactions involved in the banking sector have
vast confidential information such as customer’s user ids, login details, and account
numbers. This data is extremely vital and needs to be protected with the help of
application security software.
Healthcare departments use= applications to save patients’ data, which needs to be
protected from external threats. They contain vulnerable applications, which can
create patient safety issues and uncover subtle patient information. Hence, the
application security market is expected to grow in this field.
North America is anticipated to hold the largest share in the application security market
over the forecast time span. This is due to the increasing adoption of smart and latest
technologies and stringent government laws regarding the security of IT tools for
business purposes. Moreover, the presence of many vendors located in this region
augments the industry growth.
Asia Pacific will witness major industry growth owing to the increasing population and
the rise in the number of smartphone users. Also, the increase in the use of Internet
provides various opportunities for hackers. Hence, many companies in this region are
investing in cyber security to protect their applications from various threats.
The industry players operating in the application security market include International
Business Machine (IBM) Corporation, Veracode, Transport America, WhiteHat
Security, Qualys, Fasoo, Checkmarx Ltd., Contrast Security, and Pradeo. These major
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players are using mergers and acquisitions and partnerships to develop new product
lines and maintain their share in the smart transportation market.
Asia Pacific will witness major industry growth owing to the increasing population and
the rise in the number of smartphone users. Also, the increase in the use of Internet
provides various opportunities for hackers. Hence, many companies in this region are
investing in cyber security to protect their applications from various threats.
The industry players operating in the application security market include International
Business Machine (IBM) Corporation, Veracode, Transport America, WhiteHat
Security, Qualys, Fasoo, Checkmarx Ltd., Contrast Security, and Pradeo. These major
players are using mergers and acquisitions and partnerships to develop new product
lines and maintain their share in the smart transportation market.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for key
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biotechnology.
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Global Market Insights, Inc.
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