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The Application Security Market Witnessed a Lot of Partnerships and Agreements by Key Players During 2015–2016
Application security is an approach to identify security gaps within the web and mobile applications via security testing techniques to protect applications from vulnerabilities. MarketsandMarkets forecasts the application security market size to grow from USD 2.24 Billion in 2016 to USD 6.77 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 24.8% from 2016 to 2021. As the number of cyber-attacks on business applications is increasing day-by-day, the need for application security is also growing rapidly.
The key players in the application security market include IBM Corporation, Hewlett Packard Enterprise, WhiteHat Security, Veracode, Qualys, Checkmarx, Rapid 7, Acunetix, and Trustwave, among others. These players have adopted various key strategies such as new product launches, partnerships, agreements, mergers and acquisitions, and business expansions, to achieve growth in the global application security market.
The application security market witnessed a lot of partnerships and agreements by key players during 2015–2016. IBM Security and Check Point Software Technologies Ltd. announced a strategic threat prevention alliance to defend against cybercrime; WhiteHat Security partnered with Ciber to help enterprise customers to modernize and secure their mission-critical applications to grow their business quickly and cost effectively; Trustwave and Rogers Communications teamed up to offer Trustwave Managed Security Services to help businesses in Canada fight cybercrime, protect applications, and reduce security risks; Hewlett Packard Enterprise collaborated with Intel Corporation to deliver open standards-based IoT solutions to help organizations experiment and test IoT applications and devices in a secure and confidential environment.
The key players also adopted the strategy of mergers and acquisitions to increase their geographic presence and expand their product portfolio to untapped markets. IBM acquired Resilient Systems, Inc., to expand its incident response capabilities to help clients respond to cyber breaches; Rapid7 acquired Logentries, adding machine data search to its leading security data and analytics platform; Singtel acquired Trustwave to expand its leadership in managed security services globally; and Rapid7 acquired NT OBJECTives (NTO), the web and mobile application security testing company, to expand Rapid7's Threat Exposure Management offering; Cigital acquired iViZ Security, a cloud-based application testing service provider, to deliver DAST-as-a-service in the market.
The major players also launched new products and offerings to enhance their product portfolios and to expand their offerings to new clients. Hewlett Packard Enterprise announced a comprehensive information security framework HPE Cyber Reference Architecture (CRA) which will help organizations to address today’s complex cyber challenges including cloud, mobility, Machine-to-Machine (M2M), and Internet-of-Things (IoT); IBM Security launched its security analytics platform IBM Security QRadar together with IBM Security App Exchange, enabling developers, customers, and business partners to build custom applications to fight against cybercrimes; Trustwave announced more than a dozen new integrated security tools to help small and medium enterprises go beyond PCI-DSS compliance with automated security; Checkmarx launched a new enhanced solution Checkmarx Mobile Application Security, which allows static code analysis of native and hybrid applications.
Application security vendors worldwide are continuously adding technology innovation and capability enhancements to their solutions to protect the business-critical applications from cyber-attacks. Also, application solutions are being increasingly adopted in various verticals, such as Banking, Financial Services, and Insurance (BFSI), healthcare, IT & telecom, government, and retail verticals, which have led to the growth of the market across the globe.
Application Security Market by Component (Solutions, Services), Solutions (Web Application Security, Mobile Application Security), Testing Type (SAST, DAST, IAST), Deployment Mode, Organization Size, Vertical, Region - Global Forecast to 2021
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